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

question 98

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 on which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
- $$\begin{array} { | l | l | l | l | l | } \hline & \text { Column 1 } & \text { Column } 2 & \text { Column } 3 & \text { Column } 4 \\\hline \text { Prepaid } & & & & \\\text { Insurance } & & & & \\ \text { Expense } & & & & \\\hline\end{array}$$

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Definitions:

Laminated

Something made of thin sheets stacked together.

Copper

A chemical element with high electrical conductivity, widely used in electrical wiring and electronics.

Differential Compound

When the series and shunt field are connected in such a manner as to oppose each other in the production of magnetism.

Shunt Field

The winding of a generator or motor that is connected in parallel with the armature, used to regulate the machine's voltage or speed.