A classified balance sheet differs from an unclassified balance sheet in that:

Multiple Choice

An unclassified balance sheet does not report equity.

A classified balance sheet randomly groups items into the broad categories of asset, liability, and equity.

A classified balance sheet classifies assets and liabilities as current $($short$-$term$)$ and noncurrent $($long$-$term$).$

A classified balance sheet will include more accounts than an unclassified balance sheet for the same company on the same date.

A classified balance sheet is not usually provided to outside parties.

Debit Office Supplies $$101$ and credit Cash $$282.$

Debit Office Supplies $$101$ and credit Office Supplies Expense $$101$

Debit Office Supplies $$282$ and credit Office Supplies Expense $$282.$

Debit Office Supplies Expense $$282$ and credit Office Supplies $$282.$