The Following Information Is Contained on Either the Balance Sheet

Essay

The following information is contained on either the balance sheet or income statement of Watertown Corp.:
?
Required:
a. In the "Financial Statement" column, indicate whether each item listed above belongs on Watertown's balance sheet or income statement. Use a "B" for balance sheet items and an "I" for income statement items.
b. In the "Type of Account" column, indicate whether each item listed is an asset (A), liability (L), equity (EQ), revenue (R), or expense (EX) account.