Could someone classify each of the following account descriptions for a taxi business. As A) Asset?

Question

B) Liability C) Both D) Neither

1. Has $630 in cash
2. Owes A/P First National Bank $350.
3.Owns Taxi worth $1,315
4Supplies(on hand) worth $20.
5. Owes Sams Garage $50. (A/P)
6. Owns equipment worth $35.
7. Owes Ace Auto Co. $500.(A/P)

Answer 1

1. Has $630 in cash (A) Asset
2. Owes A/P First National Bank $350 (B) Liability
3. Owns Taxi worth $1,315 (A) Asset
4. Supplies(on hand) worth $20 (A) Asset
5. Owes Sams Garage $50. (A/P) (B) Liability
6. Owns equipment worth $35 (A) Asset
7. Owes Ace Auto Co. $500.(A/P) (B) Liability