Page 169 - Accounting Principles (A Business Perspective)

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The Home Depot classified balance sheet subdivides two of its three major categories. The Home Depot
subdivides its assets into current assets, property and equipment, long-term investments, long-term notes
receivable, intangible assets (cost in excess of the fair value of net assets acquired), and other assets. The company

subdivides its liabilities into current liabilities and long-term liabilities (including deferred income taxes). A later
chapter describes minority interest. Stockholders' equity is the same in a classified balance sheet as in an
unclassified balance sheet. Later chapters describe further subdivisions of the stockholders' equity section.
We discuss the individual items in the classified balance sheet later in the text. Our only purpose here is to
briefly describe the items that can be listed under each category. Some of these items are not in The Home Depot's
balance sheet.

Accounting Principles: A Business Perspective 170 A Global Text