Answer:
Explanation:
The income statement records only revenues and the expenses during a given period of time
The balance sheet records the assets, liabilities and the stockholder equity
Where
The current assets comprise cash, stock, account receivable, etc
Fixed assets involve plant & machinery, land, building, equipment, furniture & fittings, etc.
And, the intangible assets include patents, copyrights, trademark, and other intellectual properties.
The current liabilities include the wage payable, account payable, unearned rent, etc
The stockholder equity represents the capital account
So, the categorization is shown below:
1. Accounts Payable = Balance sheet in a current liabilities side
2. Depreciation Expense = Income statement in the debit side
3. Nat Hager, Capital (beginning of period) = statement of owner's equity
4. Office Equipment = Fixed assets in the balance sheet
5. Rent Revenue = Income statement on the credit side
6. Supplies Expense = Income statement in the debit side
7. Unearned Rent = Balance sheet in a current liabilities side
8. Wages Payable = Balance sheet in a current liabilities side
