Ask Experts Questions for FREE Help !
Ask
    sterk88's Avatar
    sterk88 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    May 2, 2007, 05:58 AM
    Classified Balance Sheet
    Is there any particular spot? I figured because it was a payable it was a liability but does it matter where it goes under liabilities.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    May 2, 2007, 10:34 PM
    You mean the ordering of Current Liabilities?

    For the most part, it doesn't matter.

    For Current Assets, you should list them in order of liquidity.

    For Current Liabilities, I think you list them by amount owning, but I'm not sure. It doesn't really matter unless you have tons and tons of Current Liabilities on your Balance Sheet.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Classified Balance Sheet [ 3 Answers ]

How do you make one of these?

Classified Balance Sheet [ 3 Answers ]

I have I question regarding classified balance sheets. If expenses and revenue are listed and I have to create a classified balance sheet with those items above, assets, liabilities, and stockholders equity, how would I incorporate the revenue and expenses??

Classified Balance Sheet [ 1 Answers ]

Where on the Classified Balance sheet does the "Dividends Payable" go?

Classified balance sheet [ 2 Answers ]

If someone can please let me know where I am making my mistake I would greatly appreciate it. Thanks in advance. Account receivable = $62,500 accounts payable = 123,500 buildings = 418,500 owner's equity, 1/1/06 = 210,000 cash = 179,750 distributions to owners during 2006 = 21,750 supplies...

Classified Balance Sheet [ 1 Answers ]

I am having trouble doing a Classified Balance Sheet. Is Accumulated Depreciation liability or assets?

View more questions Search