Can any one answer me the quesion: " What is classified balance sheet? And prepare an imaginary classified balance sheet.

I can tell you what a classified balance sheet is and that would be that it is a balance sheet in which assets and liabilities are subdivided into current and non-current categories.

You will find examples of classified balance sheets if you will click on the following two searches.

Classified Balance Sheet - Google Search (http://www.google.com/search?hl=en&safe=off&q=Classified+Balance+Sheet)

Classified Balance Sheet - Google Image Search (http://images.google.com/images?hl=en&safe=off&q=Classified+Balance+Sheet&um=1&ie=UTF-8&sa=N&tab=wi)

Below, is an example of what a classified balance sheet might look like. It is from Principles of Accounting Chapter 4 (http://www.principlesofaccounting.com/chapter%204.htm)