Process Customer Accounts and Transactions Assignment 30 Part II: Work out question 1. Indicate whether each of the following items below is an asset, liability, revenue, expense, gain or loss account and whether it appears in the balance sheet or income statement. a) Office furniture b) Income from services c) Salaries paid to workers d) Supplies on hand e) Salary payable to workers f) Cash g) Income from sale of a used truck h) Goods damaged by fire in the store Part II 2. Given below is a list of selected transactions performed by John Decor during the month of September 2002, the first month of operation. a) Record the transactions in General Journal b) Post each entry to the perspective account. Use the four - column account. c) Prepare a trial balance D) Income statement and statement of owner's equity F Prepare a Balance sheet, f) Close the temporary accounts. G, Post closing trial balance Sept. 10 Mr. John transferred cash from his personal account to be used in the business, Birr 10,000. " 10 Paid rent for the month, Birr 500 1 1 Purchased a truck for Birr 12,000 by paying Birr 3,000 Cash and giving a notes payable for the difference 12 Purchased equipment on account Birr 1,460 13 Purchased supplies on account Birr 240 14 Paid insurance premiums of Birr 170 (Dr. prepaid insurance) 15 Received cash for services completed Birr 360. 16 Purchased Supplies on account Birr 240. 18 Paid salaries of Birr 900 21 Paid its liabilities for the purchase of equipment 24 Recorded sales on account Birr 2,080 26 Received an invoice for truck expense Birr 1 15 $6 27 Paid utilities expense Birr 205. 27 Paid miscellaneous expenses Birr 73 28 Received cash from customers on account birr 1,420 " 30 Paid salaries to employees Birr 950 30. the owner withdrew Birr 1, 750 for personal use. Part three List and discus fixed asset? Write and explain an example of current asset? What if financial statement Write and discus tangible asset and intangible asset What if the difference B/N tangible asset and intangible asset