Unit 4 Accounting 1 Name: tehmina_ Date: mugim Mark: 1. Classify the following as Asset, Liability, Owner's Equity, Revenue, or Expense. (7 marks) a. Accounts Receivable_ e. Bank Charges b. Interest Charges f. Rental Revenue c. Insurance Expense g. Alvin, Capital d. Sales Revenue 2. Complete the table with the correct answer. (10 marks) Formula: Example a. b. d. e. Revenue - Expenses = Net Income or Net Loss Revenue 10,000 16,500 15,500 12,200 Expenses 2,000 4,300 11,000 Net Income/Loss 8,000 4,200 21,000 4,000 -6,000 7,800 3. Prepare an income statement for Tom Cruise for the year ended December 31, 2018, using the following accounts from the ledger: Service Income $20,000; Supplies Expense $ 5,600; Automobile Expense $4,500; Donations Expense $5,200; Repair Revenue $3,900; Miscellaneous Expense $5,250; Salaries and Wages Expense $32,400. Rent Income $200,000 (14 marks) Revenue $ 1 | Page Total Revenue $ Expenses Total Expenses Net Income/Loss $ 4. Define the following In your