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

question 81

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).
- $$\begin{array} { | l | l | l | l | l | } \hline & \text { Column 1 } & \text { Column 2 } & \text { Column } 3 & \text { Column } 4 \\\hline \text { Repairs expense } & & & & \\\hline\end{array}$$

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Definitions:

Shares of Stock

Units of ownership interest in a corporation or financial asset, representing an equal proportion of the company's capital.

Comparative Balance Sheets

Financial statements that present the financial position of a company at different points in time, allowing for analysis of trends and changes.

Current Income Statement

A financial document that reports a company's revenues, expenses, and net income over a specific period of time.

Managers

Individuals responsible for making decisions and overseeing the operations of a part or the entirety of an organization.