Question: Identify the nature (asset, liability, revenue, expense, gain, or loss) of the following items and specify whether they appear in the balance sheet or income statement:

1. Office furniture
2. Income from services
3. Salaries paid to workers
4. Supplies on hand
5. Salary payable to workers
6. Cash
7. Income from the sale of a used truck
8. Goods damaged by fire in the store

Selected Transactions by John Décor (September 2002):

• September 10: Mr. John transferred Birr 10,000 cash from his personal account to the business.
• September 10: Paid rent for the month, Birr 500.
• September 11: Purchased a truck for Birr 12,000; paid Birr 3,000 in cash and issued a notes payable for the difference.
• September 12: Purchased equipment on account Birr 1,460.
• September 13: Purchased supplies on account Birr 240.
• September 14: Paid insurance premiums of Birr 170 (debited prepaid insurance).
• September 15: Received cash for completed services, Birr 360.
• September 16: Purchased supplies on account Birr 240.
• September 18: Paid salaries, Birr 900.
• September 21: Paid liabilities for equipment purchase.
• September 24: Recorded sales on account, Birr 2,080.
• September 26: Received an invoice for truck expense, Birr 115.
• September 27: Paid utilities expense, Birr 205, and miscellaneous expenses, Birr 73.
• September 28: Received cash from customers on account, Birr 1,420.
• September 30: Paid salaries to employees, Birr 950, and withdrew Birr 1,750 for personal use.

Corrected Trial Balance (Betty Beauty Saloon):

This revised content clarifies the transactions and trial balance, aligning with accounting principles and terminology. If you need further adjustments or additional details, please let me know!