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:
Net Loss
Occurs when a company's total expenses exceed its total revenues during a specific period, indicating negative profitability.
Revenue Accounts
Accounts that track the income earned from the sale of products or services.
Capital
Capital refers to the financial resources that businesses use to fund their operations and grow, including equity, debt, and retained earnings.
Assets
Resources owned by a company that have economic value and are expected to provide future benefits.
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