CheckPoint: Classified Balance Sheets
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In 200 to 300 words, explain what information would be found in each of the following groupings on a classified balance sheet, and how that data could indicate the future success or failure of a business:
o Current assets
o Long-term investments
o Property, plant, and equipment
o Intangible assets
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Solution Summary
This solution provides information on the type of items found in each group on the classified balance sheet in 730 words with one reference.
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739 Words, APA References
Classified Balance sheet
Classified Balance sheet
Classified Balance sheet is defined as a significant statement of the business enterprise in which assets and liabilities are presented in the different categories. The assets are mainly subdivided into four heads and are given in following sequence:
Þ Current Assets
Þ Long term investment
Þ Property, plant & Equipments
Þ Intangible Assets.
The information that would be including in each of the following groups is as follows:
1. Current Assets: Current Assets are those assets which are reasonably expected to be realized in cash or sold or consumed during the normal operating cycle of the business. The current assets include: Cash, Short-term investments, Accounts receivable, Inventories, Prepaid expenses, Bills receivable, etc.
· Cash: Cash is one of most important assets in the business. Every business enterprise has to maintain an adequate amount of cash to run the business smoothly in an unavoidable situation. A better cash management leads to the success of the business or vice versa.
· Debtors: A person who owes money to the business ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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