Activity 1: The Balance Sheet < Questions: < Identify the following accounts by stating if they are asset or liability accounts. Name Money owed to the electrician Land Money owed to your business by various customers A bank loan The mortgage of your building A company automobile Supplies for your business Cash Equipment used by the business Interest owed by the company to various organizations Type of account? + 9 Activity 2: Complete the following assignment. < From the following information, as of December 31, 2015, prepare a balance sheet for Jame's Shop of Gifts owned by Jones Ben. Be sure to use this template to prepare the balance sheet. Cash Jones Ben owns Jones Ben owes $2 566.35 Bank Loan $19 000.00 450.00 Accounts Payable - Ceramic Supply 900.00 2900.00 Accounts Receivable - R. Gregory Accounts receivable-P. Stanley Supplies Furniture 1860.00 Accounts Payable - Solomon's Art Co. 1.000.00 10 300.00 at Equipment Automobiles 20 000.00 37 800.00 Assets: Total Assets Liabilities: Total Liabilities Owner's Equity:* Total Liabilities and Owner's Equity