Final answer:
The property, plant, and equipment section of a classified balance sheet includes tangible assets that are used in the operations of a business. Examples include buildings, machinery, vehicles, and furniture.
Step-by-step explanation:
Property, Plant, and Equipment Section of a Classified Balance Sheet
The property, plant, and equipment section of a classified balance sheet includes tangible assets that are used in the operations of a business. These assets are categorized as property, plant, and equipment because they have a physical substance and are not intended for resale. Examples of such assets include buildings, machinery, vehicles, and furniture.
To prepare the property, plant, and equipment section of a classified balance sheet, you need to list each individual asset and its corresponding value. This allows stakeholders to understand the value of these long-term assets and their contribution to the overall financial health of the business.