Classified Balance Sheet Explained: Definition, Components & Uses
Clear Lake Sporting Goods has accounts payable and has collected payments from a few customers that it hasn’t yet shipped its product to (unearned revenue). The note payable is not due for several years, thus making it a noncurrent liability (see Figure 5.8). The shareholders’ equity section is like the scorecard of how much the […]
Classified Balance Sheet Explained: Definition, Components & Uses Read More »