In: Accounting
To be in good form, a balance sheet should be broken down into
specific sections. Which of the following is the correct order for
the asset sections to appear on a U.S. GAAP balance sheet?
Current Assets, Long-term Investments, PPE, Intangibles
Current Assets, Long-term Investments, Intangibles, PPE
Current Assets, PPE, Intangibles, Long-term Investments
Current Assets, PPE, Long-term Investments, Intangibles
Answer: Current Assets, Long-term Investments, PPE, Intangibles.
As per US GAAP, the following is the structure of Balance Sheet presentation:
Current Assets
Cash and cash items
Marketable securities
Accounts and notes receivable
Allowances for doubtful accounts and notes receivable
Unearned income
Inventories
Prepaid expenses
Other current assets
Total current assets
Noncurrent assets
Other investments
Property, plant and equipment
Accumulated depreciation
Intangibleassets
Amortization of intangible assets
Other assets
Total assets
Current liabilities
Accounts and notes payable
Other current liabilities
Total current liabilities
Noncurrent liabilities
Bonds, mortgages and other long-term debt
Other liabilities
Commitments and contingent liabilities
Stockholders' equity
Redeemable preferred stocks
Non-redeemablepreferred stocks
Common stocks
Other stockholders' equity
Noncontrolling interests
Totalliabilities and equity