Scribd Logo
Upload

Welcome to Scribd!

  • 26 views

    Balance Sheet Items Classifications

    Uploaded by

    Janna Be Amoguis
    The document discusses the common items found on a balance sheet, including assets like cash, inventory, and fixed assets; liabilities such as accounts payable, debt, and accrued expenses; and shareholders' equity containing share capital and retained earnings. It then lists 15 specific balance sheet items grouped as current assets, current liabilities, long-term liabilities, or shareholders' equity. The balance sheet is based on the fundamental accounting equation of assets equaling liabilities plus shareholders' equity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Balance Sheet Items Classifications

    Uploaded by

    Janna Be Amoguis
    26 views3 pages
    The document discusses the common items found on a balance sheet, including assets like cash, inventory, and fixed assets; liabilities such as accounts payable, debt, and accrued expenses; and shareholders' equity containing share capital and retained earnings. It then lists 15 specific balance sheet items grouped as current assets, current liabilities, long-term liabilities, or shareholders' equity. The balance sheet is based on the fundamental accounting equation of assets equaling liabilities plus shareholders' equity.

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the common items found on a balance sheet, including assets like cash, inventory, and fixed assets; liabilities such as accounts payable, debt, and accrued expenses; and shareholders' equity containing share capital and retained earnings. It then lists 15 specific balance sheet items grouped as current assets, current liabilities, long-term liabilities, or shareholders' equity. The balance sheet is based on the fundamental accounting equation of assets equaling liabilities plus shareholders' equity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    26 views3 pages

    Balance Sheet Items Classifications

    Uploaded by

    Janna Be Amoguis
    The document discusses the common items found on a balance sheet, including assets like cash, inventory, and fixed assets; liabilities such as accounts payable, debt, and accrued expenses; and shareholders' equity containing share capital and retained earnings. It then lists 15 specific balance sheet items grouped as current assets, current liabilities, long-term liabilities, or shareholders' equity. The balance sheet is based on the fundamental accounting equation of assets equaling liabilities plus shareholders' equity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Balance Sheet Items Classifications

    The items which are generally present in all the Balance sheet includes:

     Assets like cash, inventory, accounts receivable, investments, prepaid expenses, and fixed assets.
     Liabilities like long-term debt, short-term debt, Accounts payable, Allowance for the Doubtful Accounts, accrued and liabilities taxes payable.
     The Shareholders’ equity-like Share capital, additional paid-in capital, and retained earnings.

    1. Cash and Equivalents (Current Assets)


    2. Marketable Securities (Current Assets)
    3. Account Receivables (Current Assets)
    4. Inventories (Current Assets)
    5. Prepaid Expense (Current Assets)
    6. Property, Plant, and Equipment (Fixed Assets)
    7. Intangible Assets (Fixed Assets)
    8. Account Payable (Current Liabilities)
    9. Unearned Revenue (Current Liabilities)
    10. Short Term Debt (Current Liabilities)
    11. Current Portion of Long-term Debt (Current Liabilities)
    12. Other Accrued Expenses and Liabilities (Current Liabilities)
    13. Long term Debt (Long Term Liabilities)
    14. Paid-in Capital (Shareholders Equity)
    15. Retained Earnings (Shareholders Equity)

    The Balance Sheet is based on fundamental accounting Equations which are below-

    You might also like