What is a classified balance sheet from a trial balance ? What information does it contain?
- SandyLv 71 decade agoFavorite Answer
A classified balance sheet is one that arranges the balance sheet accounts into a format that is useful for the readers. For example, most balance sheets use the following classifications when presenting assets: 1) current, 2) long-term investments, 3) property, plant and equipment, 4) intangible assets, 5) other assets. Liabilities are usually classified as 1) current, or 2) long-term or noncurrentSource(s): http://blog.accountingcoach.com/classified-balance... http://www.accountingcoach.com/online-accounting-c...