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

question 105

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).
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Definitions:

Dividends in Arrears

Dividends on cumulative preferred stock that have not been paid in the period they are due.

Balance Sheet

A financial statement that displays a company's assets, liabilities, and stockholders' equity as of a specific date, showing the company's financial position.

Sole Proprietorship

A business structure owned by a single individual, where the owner and the business are legally considered the same.

Drawing Account

An account used to record the amounts withdrawn by an owner from the business for personal use.