Typical line items included in the balance sheet (by general category) are:•Assets: Cash, marketable securities, prepaid expenses, accounts receivable, inventory, and fixed assetsLiabilities: Accounts payable, accrued liabilities, taxes payable, short-term debt, and long-term debtShareholders’ equity: Stock, retained earnings, and treasury stock

The exact set of line items included in a balance sheet will depend upon the types of business transactions with which an organization is involved. Usually, the line items used for the balance sheets of companies located in the same industry will be similar, since they all deal with the same types of transactions. The line items are presented in their order of liquidity, which means that the assets most easily convertible into cash are listed first, and those liabilities due for settlement soonest are listed first.

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