14. Paul Young owns and operates a small consulting firm in L itle Rock. Arkansas. Indicate how each account should be classified on Paul's balance sheet and which accounts should be excluded from is balance sheet using the letters below a. Asset b. Liability c. Stockholders' 1. Equipment used in the business 2. Amounts owed to suppliers 3. Mortgage on Paul's home 4. Sound equipment used in reception area of Paurs Equity d. Exclude from Balance Sheet office 5. Amounts owed by client 6. Amounts due to suppliers for purchase of office equipment 7. Pau's personal automobile 8. Paul's original investment in the business 9. Amounts owed to employees 10. Office buildings and land I1. Cleaning supplies used in Paul's home 12. Golf clubs (kept in Paul's office) purposes? 15. Which of the following statements are true for financial accounting a. Assets Liabilities + Stockholders' Equity b. Stockholders' Equity Liabilities + Assets c. Liabilities Assets+ Stockholders' Equity d. Liabilities - Stockholders' Equity Assets e. Stockholders' Equity Assets- Liabilities f. Liabilities Assets- Stockholders' Equity g. Assets Stockholders' Equity - Liabilities