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A classified balance sheet:

a. shows changes in assets, liabilities, revenues, and expenses.

b. shows only current assets and current liabilities.

c. contains confidential information.

d. shows subtotals for current assets and current liabilities.

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Joshua Stredder
Joshua StredderLv10
2 Feb 2021
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Related questions

The classified balance sheet will show which asset subsections?

a. current assets and other equity

b. current liabilities and short-term assets

c. other revenues and property, plant, and equipment

d. current assets and property, plant, and equipment

What is a “classified” balance sheet?

1. A balance sheet that classifies its year-end as 12/31.

2. A balance sheet that only displays total assets.

3. A balance sheet that separates assets and liabilities into current and non-current sections.

4. A balance sheet that has a restricted audience.

Consider the following balance sheet:

BestCare HMO

Balance Sheet

June 30, 2011

(in thousands)

Assets

Current Assets:

Cash $2,737

Net premiums receivable 821

Supplies 387

Total current assets $3,945

Net property and equipment $5,924

Total assets $9,869

Liabilities and Net Assets

Accounts payable—medical

Services $2,145

Accrued expenses 929

Notes payable 382

Total current liabilities $3,456

Long-term debt $4,295

Total liabilities $7,751

Net assets—unrestricted

(equity) $2,118

Total liabilities and net

Assets $9,869

Consider the following financial statements for Green Valley Nursing Home, Inc. a for profit long-term care facility:

Green Valley Nursing Home Inc.
Balance Sheet
December 31, 2011
Assets
Current assets:
Cash $105,737
Marketable securities 200,000
Net patient accounts receivables 215,600
Supplies 87,655
Total current assets $608,992
Property and equipment $2,250,000
Less accumulated depreciation 356,000
Net property and equipment $1,894,000
Total assets $2,502,992
Liabilities and Shareholder?s Equity
Current liabilities:
Accounts payable $72,250
Accrued expenses 192,900
Notes payable 100,000
Current portion of long-term debt 80,000
Total current liabilities $445,150
Long term debt $1,700,000
Shareholders? Equity:
Common stock, $10 par value $100,000
Retained earnings 257,842
Total shareholder?s equity $357,842
Total liabilities and shareholders? equity $2,502,992

A. WHAT IS THE PRIMARY DIFFERENCE BETWEEN THESE 2 STATEMENTS

c. What was Green Valley's total debt ratio?*************************************
Current liabilities
LT liabilities
Total liabilities (debt)
Total assets
Total debt ratio

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