Question

can I see an example of a classified balance sheet

Answer 1

Answer

• Classified Balance Sheet is that Balance Sheet where accounts are classified into Assets, Liabilities & Equity sections.
• Assets, Liabilities & Stockholder’s Equity are also further classified into sub sections.
• Example of Classified Balance Sheet

Classified Balance Sheet
As of December 31, 2018
ASSETS
Current assets
Cash	$13,640
Accounts receivables	$41,450
Merchandise Inventory	$30,400
Total current assets		$85,490
Property, plant and equipment
Land	$19,000
Total property, plant and equipment		$19,000
Total assets		$104,490
LIABILITIES & STOCKHOLDER’S EQUITY
Current liabilities
Accounts Payable		$9,390
Long-term liabilities
Long Term Notes Payable		$24,950
Total liabilities		$34,340
Stockholders’ equity
Common Stock	$41,000
Retained Earnings	$29,150
Total stockholders’ equity		$70,150
Total liabilities and stockholders’ equity		$104,490