Question: For each transaction, indicate whether each account would be classified as (a) An asset, (b) A liability, (c) Stockholders equity to be reported in the

For each transaction, indicate whether each account would be classified as
(a) An asset,
(b) A liability,
(c) Stockholders€™ equity to be reported in the balance sheet;
(d) A revenue
(e) An expense to be reported in the income statement;
(f) A to be reported in the statement of stockholders€™equity.

Account Classifications Account Related Transactions Utilities payable As owed for utilities Cash Cash available for use Salaries expense Cost of salaries Common stock Shares of ownership sold to investors. Service revenue 3. Sale of services to customers

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