For Each of the Following, Identify in Column 1 the Category

question 106

Essay

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement in which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
- $$\begin{array} { | l | l | l | l | l | } \hline & \text { Column 1 } & \text { Column 2 } & \text { Column 3 } & \text { Column 4 } \\\hline \text { Equipment } & & & & \\\hline\end{array}$$

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Definitions:

Ford

An American multinational automaker founded by Henry Ford, known for revolutionizing the automotive industry with mass production techniques.

Factory Owners

Individuals or entities that own establishments where goods are produced through the use of machines and labor.

Socialist Party

A political party advocating for socialism, which involves social ownership of the means of production and democratic control or regulatory mechanisms over the economy.

Local Officials

Individuals holding office or positions of authority in local government, responsible for administering laws, policies, and services at a municipal or regional level.