A corporation's balance sheet is usually divided into three sections with various subclassifications reported within each group in an informative manner.Listed below are some typical subclassifications.
$\begin{array}{llcc}
\text {Contributed capital } & \text {Other assets } \
\text {Current assets } & \text { Other liabilities } \
\text { Current liabilities } & \text { Property, plant, \& equipment} \
\text { Intangible assets } & \text { Retained earnings } \
\text { Long-term investments } & \text { Accumulated other comprehensive income } \
\text {Long-term liabilities } &\
\end{array}$
Required:
Identify each of the three balance sheet sections and list the subclassifications within each section in the appropriate order.

Question

A corporation's balance sheet is usually divided into three sections with various subclassifications reported within each group in an informative manner.Listed below are some typical subclassifications.
 $\begin{array}{llcc}
  \text {Contributed capital  } &  \text {Other assets  } \
\text {Current assets  } &  \text { Other liabilities } \
\text { Current liabilities } &  \text {  Property, plant, \& equipment} \
\text { Intangible assets } &  \text { Retained earnings } \
\text { Long-term investments } &  \text { Accumulated other comprehensive income } \
\text {Long-term liabilities  } &\
\end{array}$
 Required:
Identify each of the three balance sheet sections and list the subclassifications within each section in the appropriate order.

Quizplus · Accepted Answer

The Answer of A corporation's balance sheet is usually divided into three sections with various subclassifications reported within each group in an informative manner.Listed below are some typical subclassifications.
 $\begin{array}{llcc}
  \text {Contributed capital  } &  \text {Other assets  } \
\text {Current assets  } &  \text { Other liabilities } \
\text { Current liabilities } &  \text {  Property, plant, \& equipment} \
\text { Intangible assets } &  \text { Retained earnings } \
\text { Long-term investments } &  \text { Accumulated other comprehensive income } \
\text {Long-term liabilities  } &\
\end{array}$
 Required:
Identify each of the three balance sheet sections and list the subclassifications within each section in the appropriate order.

A Corporation's Balance Sheet Is Usually Divided into Three Sections