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

For each transaction, indicate whether each account would be classified in the balance
sheet as

(a) An asset,

(b) A liability,

(d) A revenue

(e) An expense; or in the statement of stockholders’ equity as

(f) A dividend.

Account Classifications Accounts Related Transactions Utilities payable Cash Amounts owed for utilities. Cash available for use. 1. 2. Salaries expense Common stock 3. Cost of salaries. Shares of ownership sold to investors. Sale of services to customers. 4. 5. Service revenue

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