For each of the following items below, classify as either:

CURRENT ASSET

LONG TERM ASSET

CURRENT LIABILITY

LONG TERM LIABILITY

EQUITY

N/A - Not Applicable

NOTE: Classify Revenue and Expense items as EQUITY.

Assume business is a Sole Proprietorship: Al's Lawn Cutting Service.

1)Accounts payable

2)Assistant's salary

3) Drawings / Withdrawals

4) Prepaid Expenses

5)Unearned Revenue

6)Business Logo

7)Lawn Cutting Service Fees

8)Al's Comic Book Collection

9)Interest earned on a Business Bank savings account

10)Cash in Al's personal bank account

11)Utilities payable in the office

12)Computer Equipment used in business

13)Inheritance received from Al's uncle

14)Al's OLG Winnings at the Casino

15)Trailer that carries the lawn cutting equipment

16)A 5 year truck loan for truck that tows the Trailer.

17)Supply parts for the Truck and Trailer

18)Groceries in Als kitchen

19)Gasoline for the Lawn Mower

20)Interest paid on Al's fishing boat loan