A classified balance sheet is one that arranges the balance sheet accounts into a format that is useful for the readers. For example, most balance sheets use the following classifications when presenting assets: 1) current, 2) long-term investments, 3) property, plant and equipment, 4) intangible assets, 5) other assets. Liabilities are usually classified as 1) current, or 2) long-term or noncurrent.

To assist with the preparation of classified balance sheets, we have prepared the following forms and templates:

Balance Sheet: Manufacturer – Corporation

Balance Sheet: Retail/Wholesale – Corporation

Balance Sheet: Retail/Wholesale – Sole Proprietor

Balance Sheet: Services – Corporation

Balance Sheet: Services – Sole Proprietor

You can also access our free explanation, quiz, puzzles and more by using this link: Balance Sheet.

About the Author: Harold Averkamp (CPA) has worked as an accountant, consultant, and university accounting instructor for more than 25 years.

He is the creator of the AccountingCoach Pro which has been praised for its ability to simplify accounting in a way that anybody can understand.

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