Question: I need helo with all three but i really don't understand 6 if you could explain as much as possible The account Utiities Payable would

I need helo with all three but i really don't understand 6 if you could explain as much as possible

The account "Utiities Payable" would be classified on a Balance Sheet as 1. Current Liability 2. Current Asset 3. Stockholders' Equity 4. 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 1. liabilities increase, stockholders' equity decrease 2. assets increase, assets decrease 3. assets increase, stockholders' equity increase 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 1. Equipment 2. Land 3. Cash 4. Common Stock 5. Supplies 6. Notes Payable

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