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ACCT 140-45 ACCT140-45 ACCT/140-45 Notes # 1 [9-5-16] – Classified Balance Sheet

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ACCT 140-45 ACCT140-45 ACCT/140-45 Notes # 1 [9-5-16] – Classified Balance Sheet

Classified Balance Sheet = better (more information)
Tells more than any other
Liquidity – a company’s ability to meet its short term obligations
Current Assets – those assets to be received or used within one (1) year or less
Cash
Marketable Securities
Notes Receivable
AccountsReceivable
Inventory

Description

ACCT 140-45 ACCT140-45 ACCT/140-45 Notes # 1 [9-5-16] – Classified Balance Sheet

Classified Balance Sheet = better (more information)
Tells more than any other
Liquidity – a company’s ability to meet its short term obligations
Current Assets – those assets to be received or used within one (1) year or less
Cash
Marketable Securities
Notes Receivable
AccountsReceivable
Inventory
Supplies
Most things that are prepaid (insurance, rent, ______, etc.)
Noncurrent
Long Term Investments
Property
Plant & Equipment
Intangible Assets (Trademarks, Patents, Copyrights, etc.)
Other
Current Liabilities – those obligations to be paid or settled (earned) within one (1) year or less
Notes Payable
Accounts Payable