{"id":2326,"date":"2022-02-20T17:10:46","date_gmt":"2022-02-20T23:10:46","guid":{"rendered":"https:\/\/finallylearn.com\/?p=2326"},"modified":"2023-08-19T14:22:45","modified_gmt":"2023-08-19T19:22:45","slug":"balance-sheet","status":"publish","type":"post","link":"https:\/\/finallylearn.com\/balance-sheet\/","title":{"rendered":"Balance Sheet"},"content":{"rendered":"\n<p><strong>A balance sheet is a financial statement that shows the financial position of a company. It shows company assets, liabilities, and equity. The balance sheet is a snapshot of what the company owns and owes on a specific date. <\/strong><\/p>\n\n\n\n<p>The balance sheet is one of the core financial statements. The other financial statements are the <a href=\"https:\/\/finallylearn.com\/income-statement\/\">income statement<\/a> and the cash flow statement. The balance sheet is also called the <strong>statement of financial position.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><em>This is Intermediate Accounting Chapter 5. For more Intermediate Accounting topics, see&nbsp;<a href=\"https:\/\/finallylearn.com\/intermediate-accounting-study-guide\/\">Intermediate Accounting Study Guide.<\/a><\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ef521422bff\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ef521422bff\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#What-is-a-Balance-Sheet\" >What is a Balance Sheet?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#1-Assets\" >1 Assets<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Current-assets\" >Current assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Fixed-assets\" >Fixed assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Investments\" >Investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Intangible-Assets\" >Intangible Assets<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#2-Liabilities\" >2 Liabilities<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Current-Liabilities\" >Current Liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Long-term-Liabilities\" >Long-term Liabilities<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#3-Equity\" >3 Equity<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Capital-stock-paid-in-capital\" >Capital stock &amp; paid-in capital<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Retained-earnings\" >Retained earnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Comprehensive-income\" >Comprehensive income<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Treasury-stock\" >Treasury stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Noncontrolling-interest\" >Noncontrolling interest<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Classified-balance-sheet-example\" >Classified balance sheet example<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Apple-balance-sheet\" >Apple balance sheet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Balance-sheet-video\" >Balance sheet video<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/finallylearn.com\/balance-sheet\/#Intermediate-Accounting-Study-Guide\" >Intermediate Accounting Study Guide<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"what-is-a-balance-sheet\"><span class=\"ez-toc-section\" id=\"What-is-a-Balance-Sheet\"><\/span>What is a Balance Sheet?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The balance sheet reports company assets, liabilities, and equity on a specific date. This follows the accounting equation where assets equal liabilities and equity. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/what-is-a-balance-sheet.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"410\" height=\"1024\" src=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/what-is-a-balance-sheet-410x1024.jpg\" alt=\"what is a balance sheet?\" class=\"wp-image-3715\" srcset=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/what-is-a-balance-sheet-410x1024.jpg 410w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/what-is-a-balance-sheet-120x300.jpg 120w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/what-is-a-balance-sheet-768x1920.jpg 768w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/what-is-a-balance-sheet.jpg 800w\" sizes=\"auto, (max-width: 410px) 100vw, 410px\" \/><\/a><figcaption>What is a balance sheet?<\/figcaption><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>The balance sheet has to balance because of the accounting equation. The accounting equation is assets = liabilities + equity.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"278\" src=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/07\/accounting-equation-1024x278.webp\" alt=\"accounting equation\" class=\"wp-image-3342\" srcset=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/07\/accounting-equation-1024x278.webp 1024w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/07\/accounting-equation-300x81.webp 300w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/07\/accounting-equation-768x208.webp 768w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/07\/accounting-equation.webp 1157w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Accounting Equation<\/figcaption><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>There are three sections of the balance sheet: 1. assets, 2. liabilities, and 3. equity. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1-assets\"><span class=\"ez-toc-section\" id=\"1-Assets\"><\/span>1 Assets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An <a href=\"https:\/\/finallylearn.com\/asset\/\">asset<\/a> is a resource owned by a company or entity. Assets provide probable future economic benefits. Assets appear first on a company\u2019s balance sheet. As assets increase, the value of the company increases.<\/p>\n\n\n\n<p>Assets are classified on the balance sheet as either current or noncurrent (long-term). There are four categories of assets on the balance sheet:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Current Assets<\/li><li>Fixed Assets<\/li><li>Investments<\/li><li>Intangible Assets<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"current-assets\"><span class=\"ez-toc-section\" id=\"Current-assets\"><\/span>Current assets<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Current assets are expected to be used within one year or less. Current assets include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>cash<\/li><li>accounts receivable<\/li><li>inventory<\/li><li>marketable securities<\/li><li>other current assets<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"fixed-assets\"><span class=\"ez-toc-section\" id=\"Fixed-assets\"><\/span>Fixed assets<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Fixed assets are assets with long lives used in a company\u2019s operations. They are shown on the balance sheet as property, plant, and equipment (PP&amp;E). Fixed assets can also be called plant assets or capital assets.<\/p>\n\n\n\n<p>Examples of fixed assets include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>equipment<\/li><li>machinery<\/li><li>land<\/li><li>buildings<\/li><li>cars<\/li><li>trucks<\/li><li>computers<\/li><li>furniture<\/li><\/ul>\n\n\n\n<p>Since fixed assets have long lives, the cost of the asset is spread over many years. Depreciation is the allocation of the cost of fixed assets over their life. This annual depreciation causes the asset\u2019s book value to decline over the asset\u2019s life.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"investments\"><span class=\"ez-toc-section\" id=\"Investments\"><\/span>Investments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Investments are company investments in stocks, bonds, mutual funds, and other investments. These investments appear on the balance sheet as long-term investments.<\/p>\n\n\n\n<p>Investments are long-term when the company intends on holding for more than a year. So, if the company intends to hold less than a year, they are short-term investments. Short-term investments are also called marketable securities.<\/p>\n\n\n\n<p>Examples of long-term investments include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>stocks<\/li><li>bonds<\/li><li>mutual funds<\/li><li>exchange traded funds (ETFs)<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"intangible-assets\"><span class=\"ez-toc-section\" id=\"Intangible-Assets\"><\/span>Intangible Assets<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Intangible assets are assets without physical characteristics. They are legal rights owned by the company. They include intellectual property rights and brand awareness assets. Intellectual property includes copyrights, trademarks, and patents.<\/p>\n\n\n\n<p>Intangible assets appear on the balance sheet as noncurrent assets. Intangible assets use amortization rather than depreciation. Amortization is the allocation of the cost of the intangible asset over its life.<\/p>\n\n\n\n<p>Examples of intangible assets include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>copyright<\/li><li>trademark<\/li><li>patent<\/li><li>goodwill<\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-liabilities\"><span class=\"ez-toc-section\" id=\"2-Liabilities\"><\/span>2 Liabilities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In accounting, a <a href=\"https:\/\/finallylearn.com\/liability\/\" data-type=\"post\" data-id=\"2767\">liability<\/a> is a debt owed to a company or individual. Liabilities are a claim on a company\u2019s assets by the creditors. Liabilities require payment of assets, such as cash, or the performance of a service. A liability occurs from a past transaction that requires a future economic payment.<\/p>\n\n\n\n<p>There are two categories of liabilities on the balance sheet:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Current Liabilities<\/li><li>Long-term Liabilities<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"current-liabilities-1\"><span class=\"ez-toc-section\" id=\"Current-Liabilities\"><\/span>Current Liabilities<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Current liabilities are debts that are due within one year. The current liabilities are shown on the balance sheet before long-term liabilities.<\/p>\n\n\n\n<p>Common current liabilities include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>accounts payable<\/li><li>notes payable<\/li><li>wages payable<\/li><li>salaries payable<\/li><li>income tax payable<\/li><li>interest payable<\/li><li>dividends payable<\/li><li>deferred revenue<\/li><\/ul>\n\n\n\n<p>Current liabilities are paid by using current assets, such as cash, during the year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"long-term-liabilities\"><span class=\"ez-toc-section\" id=\"Long-term-Liabilities\"><\/span>Long-term Liabilities<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Long-term liabilities are debts that are due in more than one year. These are long-term debts of the company. Examples of long-term liabilities include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>notes payable<\/li><li>bonds payable<\/li><li>mortgage payable<\/li><li>post-employment benefits liability<\/li><li>warranty liability<\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"section-1-assets-2\"><span class=\"ez-toc-section\" id=\"3-Equity\"><\/span>3 Equity<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"equity-is-owners-investment-in-a-company-stockholders-equity-equals-assets-minus-liabilities-and-it-appears-on-the-balance-sheet\"><a href=\"https:\/\/finallylearn.com\/equity\/\" data-type=\"post\" data-id=\"2778\">Equity<\/a> is the assets remaining after the debts are paid. Stockholders\u2019 equity equals assets minus liabilities. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"281\" src=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/equity-formula-1024x281.webp\" alt=\"equity formula\" class=\"wp-image-3344\" srcset=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/equity-formula-1024x281.webp 1024w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/equity-formula-300x82.webp 300w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/equity-formula-768x211.webp 768w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/equity-formula.webp 1158w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Equity formula<\/figcaption><\/figure>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>There are several alternate names for equity:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>stockholders\u2019 equity<\/li><li>shareholders\u2019 equity<\/li><li>owners\u2019 equity<\/li><li>owners\u2019 capital<\/li><\/ul>\n\n\n\n<p>There are five categories of equity on the balance sheet:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Capital stock &amp; paid-in capital<\/li><li>Retained earnings<\/li><li>Comprehensive income<\/li><li>Treasury stock<\/li><li>Noncontrolling interest<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"capital-stock-paid-in-capital\"><span class=\"ez-toc-section\" id=\"Capital-stock-paid-in-capital\"><\/span>Capital stock &amp; paid-in capital<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Corporations issued common stock to raise capital to grow the business. The common stock shows equity in the company. Common stock represents paid-in capital to the company. This is the money that investors have invested into the company.<\/p>\n\n\n\n<p>All corporations have common stock. Some companies issue a special class of stock called preferred stock. Preferred stock is included in stockholders\u2019 equity.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>common stock<\/li><li>preferred stock<\/li><li>additional paid-in capital<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"retained-earnings-1\"><span class=\"ez-toc-section\" id=\"Retained-earnings\"><\/span>Retained earnings<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A successful business earns a net profit. The company may pay some of these earnings as dividends to stockholders. The profits that remain are added to the company\u2019s retained earnings. Retained earnings are the net income minus dividends.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"278\" src=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/retained-earnings-definition-1024x278.webp\" alt=\"retained earnings definition\" class=\"wp-image-3340\" srcset=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/retained-earnings-definition-1024x278.webp 1024w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/retained-earnings-definition-300x81.webp 300w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/retained-earnings-definition-768x208.webp 768w, https:\/\/finallylearn.com\/wp-content\/uploads\/2021\/10\/retained-earnings-definition.webp 1157w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>So, assume a company earns net income of $15,000 and pays dividends of $3,000. The retained earnings increase by $12,000.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"comprehensive-income\"><span class=\"ez-toc-section\" id=\"Comprehensive-income\"><\/span>Comprehensive income<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Comprehensive income is income that does not appear on the income statement. It is from nonowner transactions. The most common example of comprehensive income is unrealized gains and losses on investments.<\/p>\n\n\n\n<p>For example, assume a company purchased a stock for $100,000. At the end of the year, it has a market value of $133,000. The company has an unrealized gain. The comprehensive income is $33,000 because of the unrealized gain.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"treasury-stock\"><span class=\"ez-toc-section\" id=\"Treasury-stock\"><\/span>Treasury stock<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Treasury stock is previously issued shares that have been repurchased by the company. These shares are no longer owned by stockholders and are not outstanding shares. Treasury stock is a reduction of stockholders&#8217; equity.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"noncontrolling-interest\"><span class=\"ez-toc-section\" id=\"Noncontrolling-interest\"><\/span>Noncontrolling interest<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Noncontrolling interest is the ownership interest of the stockholders owning less than 50% in a consolidated financial statement. Noncontrolling interest is also called minority interest. <\/p>\n\n\n\n<p>For example, if a parent company owns 90% of a subsidiary, the remaining 10% is the noncontrolling interest.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"classified-balance-sheet-example\"><span class=\"ez-toc-section\" id=\"Classified-balance-sheet-example\"><\/span>Classified balance sheet example<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/Sample-balance-sheet-2025.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"757\" height=\"1024\" src=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/Sample-balance-sheet-2025-757x1024.webp\" alt=\"classified balance sheet example\" class=\"wp-image-3707\" srcset=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/Sample-balance-sheet-2025-757x1024.webp 757w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/Sample-balance-sheet-2025-222x300.webp 222w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/Sample-balance-sheet-2025-768x1039.webp 768w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/Sample-balance-sheet-2025.webp 1044w\" sizes=\"auto, (max-width: 757px) 100vw, 757px\" \/><\/a><figcaption>Classified balance sheet example<\/figcaption><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"apple-balance-sheet\"><span class=\"ez-toc-section\" id=\"Apple-balance-sheet\"><\/span>Apple balance sheet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Here is the Apple, Inc. 2021 balance sheet. The Apple financial statements are found in the <a href=\"https:\/\/investor.apple.com\/investor-relations\/default.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">investor relations section of Apple.com.<\/a><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/apple-balance-sheet-2021.webp\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/apple-balance-sheet-2021-855x1024.webp\" alt=\"Apple balance sheet 2021\" class=\"wp-image-3706\" width=\"840\" height=\"1006\" srcset=\"https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/apple-balance-sheet-2021-855x1024.webp 855w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/apple-balance-sheet-2021-251x300.webp 251w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/apple-balance-sheet-2021-768x920.webp 768w, https:\/\/finallylearn.com\/wp-content\/uploads\/2022\/02\/apple-balance-sheet-2021.webp 1256w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><\/a><\/figure><\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"balance-sheet-video\"><span class=\"ez-toc-section\" id=\"Balance-sheet-video\"><\/span>Balance sheet video<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"container-lazyload preview-lazyload container-youtube js-lazyload--not-loaded\"><a href=\"https:\/\/youtu.be\/2W_bSijMeWM\" class=\"lazy-load-youtube preview-lazyload preview-youtube\" data-video-title=\"Learn the Classified Balance Sheet Fast With These Simple Steps!\" title=\"Play video &quot;Learn the Classified Balance Sheet Fast With These Simple Steps!&quot;\" target=\"_blank\" rel=\"noopener\">https:\/\/youtu.be\/2W_bSijMeWM<\/a><noscript>Video can&#8217;t be loaded because JavaScript is disabled: <a href=\"https:\/\/youtu.be\/2W_bSijMeWM\" title=\"Learn the Classified Balance Sheet Fast With These Simple Steps!\" target=\"_blank\" rel=\"noopener\">Learn the Classified Balance Sheet Fast With These Simple Steps! (https:\/\/youtu.be\/2W_bSijMeWM)<\/a><\/noscript><\/div>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"intermediate-accounting-study-guide\"><span class=\"ez-toc-section\" id=\"Intermediate-Accounting-Study-Guide\"><\/span>Intermediate Accounting Study Guide<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For all the Intermediate Accounting topics, see\u00a0<a href=\"https:\/\/finallylearn.com\/intermediate-accounting-study-guide\/\" data-type=\"post\" data-id=\"1520\">Intermediate Accounting Study Guide<\/a><a href=\"https:\/\/finallylearn.com\/intermediate-accounting-study-guide\/\">.<\/a><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><a href=\"https:\/\/finallylearn.com\/financial-accounting-standards\/\">Financial Accounting Standards<\/a> <\/li>\n\n\n\n<li><a href=\"https:\/\/finallylearn.com\/conceptual-framework-for-financial-reporting\/\">Conceptual Framework for Financial Reporting<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/finallylearn.com\/accounting-information-system\/\">Accounting Information System<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/finallylearn.com\/income-statement\/\">Income Statement<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/finallylearn.com\/balance-sheet\">Balance Sheet<\/a><\/li>\n\n\n\n<li>Accounting and the Time Value of Money<\/li>\n\n\n\n<li>Cash and Receivables<\/li>\n\n\n\n<li>Inventories: Cost Basis<\/li>\n\n\n\n<li>Inventories: Additional Valuation Issues<\/li>\n\n\n\n<li>Property, Plant, and Equipment<\/li>\n\n\n\n<li>Depreciation, Impairment, and Depletion<\/li>\n\n\n\n<li>Intangible Assets<\/li>\n\n\n\n<li>Current Assets and Contingencies<\/li>\n\n\n\n<li>Long-Term Liabilities<\/li>\n\n\n\n<li>Stockholders&#8217; Equity<\/li>\n\n\n\n<li>Dilutive Securities and Earnings Per Share<\/li>\n\n\n\n<li>Investments<\/li>\n\n\n\n<li>Revenue Recognition<\/li>\n\n\n\n<li>Accounting for Income Taxes<\/li>\n\n\n\n<li>Accounting for Pensions<\/li>\n\n\n\n<li>Accounting for Leases<\/li>\n\n\n\n<li>Accounting Changes and Error Analysis<\/li>\n\n\n\n<li>Statement of Cash Flows<\/li>\n\n\n\n<li>Full Disclosure in Financial Reporting<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>A balance sheet is a financial statement that shows the financial position of a company. It shows company assets, liabilities, and equity. The balance sheet is a snapshot of what the company owns and owes on a specific date. The balance sheet is one of the core financial statements. The other financial statements are the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[88],"tags":[],"class_list":["post-2326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting"],"blocksy_meta":[],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/posts\/2326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/comments?post=2326"}],"version-history":[{"count":5,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/posts\/2326\/revisions"}],"predecessor-version":[{"id":4266,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/posts\/2326\/revisions\/4266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/media\/3689"}],"wp:attachment":[{"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/media?parent=2326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/categories?post=2326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finallylearn.com\/wp-json\/wp\/v2\/tags?post=2326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}