Classified Balance Sheets, Explained
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What Is a Classified Balance Sheet?
Classified Balance Sheets vs. Balance Sheets
Common Classified Balance Sheet Categories
Assets
Cash Prepaid expenses Accounts receivable Assets for sale Inventories
Furniture Land Equipment Vehicles Buildings Leasehold improvements
Copyrights Trademarks Goodwill
Liabilities
Short-term loans Accounts payable Accrued expenses Line of credit Current tax liabilities
Long-term loans Deferred taxes Mortgage
Equity
Owner’s capital Retained earnings Additional contributions paid
Pros and Cons of Classified Balance Sheets
Classified Balance Sheet Example
Using the Accounting Equation with Classified Balance Sheets
The Takeaway
3 Small Business Loan Tips
Generally, it can be easier for entrepreneurs starting out to qualify for a loan from an online lender than from a traditional lender. Lantern by SoFi’s single application makes it easy to find and compare small business loan offers from multiple lenders. If you are launching a new business or your business is young, lenders will consider your personal credit score. Eventually, though, you’ll want to establish your business credit. SBA loans are guaranteed by the U.S. Small Business Administration and typically offer favorable terms. They can also have more complicated applications and requirements than non-SBA business loans.
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