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    shaeboo's Avatar
    shaeboo Posts: 1, Reputation: 1
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    #1

    Mar 9, 2008, 04:09 PM
    Balance sheet
    I have to prepare a classified balance sheet, I already know what is included. Now what I wanted to know is: Do I need to separate assests and liabilities prior to preparing the sheet?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 23, 2008, 02:38 PM

    Assets are separated into three sections: Current, Plant Property & Equipment, Intangible Assets

    Liabilities and Owner's Equity are divided into 3 sections:
    Current and Long-term Liabilities, Owner's Equity.
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