Major sections of the classified balance sheet

Reference no: EM13150793

1) Name and describe the major sections of the classified balance sheet. How is the classified balance sheet different than the balance sheet discussed in week one? What are some of the benefits in using a classified balance sheet?

2) What are reversing entries? Why are reversing entries needed? What would be the affect if not made? What are the pros and cons of using reversing entries? What types of transactions may require reversing entries?

Reference no: EM13150793

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