Preparing the Classified Balance Sheet and Applying the Accounting Equation

What this note covers

1. 1. Purpose and Structure of the Classified Balance Sheet
2. 2. Current Assets — Classification, Order and Worked Figures
3. 3. Non-Current Assets — Cost, Accumulated Depreciation and Carrying Amount
4. 4. Current and Non-Current Liabilities — GST Clearing, Accruals and Mortgage
5. 5. Owner's Equity — Capital, Net Profit and Drawings
6. 6. Fully Worked Balance Sheet — Tran's Hardware as at 30 June 2025
7. 7. How Classification Supports Decision-Making — Liquidity, Structure and the Accounting Equation

7 sections · 14 key terms & formulas · 6 common mistakes