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 form sale of a used truck
h) Goods damaged by fire in the store
a) Office furniture - Asset, appears in the balance sheet
b) Income from services - Revenue, appears in the income statement
c) Salaries paid to workers - Expense, appears in the income statement
d) Supplies on hand - Asset, appears in the balance sheet
e) Salary payable to workers - Liability, appears in the balance sheet
f) Cash - Asset, appears in the balance sheet
g) Income from sale of a used truck - Gain, appears in the income statement
h) Goods damaged by fire in the store - Loss, appears in the income statement