Question: The account Utilities Payable would be classified on a Balance Sheet as 01. Current Liability 2. Current Asset 03. Stockholders' Equity O4. Long Term

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The account "Utilities Payable" would be classified on a Balance Sheet as 01. Current Liability 2. Current Asset 03. Stockholders' Equity O4. Long Term Asset 5. Long term Liability QUESTION 6 Duck Inc bought supplies on account. The accounting impact of this transaction to Duck Inc. will be O 1. liabilities increase, stockholders' equity decrease O2. assets increase, assets decrease O 3.assets increase, stockholders' equity increase O 4. assets increase, liabilities increase QUESTION 7 James Inc purchased equipment for $5,600 cash. The account that will be debited in this transaction will be O1.Equipment 2. Land 3. Cash O4. Common Stock OS. Supplies O 6. Notes Payable

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