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, and in Column 3 the financial statement that the account appears upon.
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Definitions:
Ledger
A book or digital record used to track all financial transactions and balances for a company's accounts.
Accounting Tool
Software or systems utilized by accountants or businesses to record, analyze, and report financial information.
Assets
Resources controlled by a business as a result of past events and from which future economic benefits are expected to flow to the business.
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time.
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