What Happens in a Civil Case. A civil lawsuit involves disputes between private individuals and/or organizations. The facts of the dispute could involve a contract, a lease, a physical injury experienced by an individual, a divorce, or many other issues.
Balance sheets are prepared with either one or two columns, with assets first, followed by liabilities and net worth. Identify the elements of a properly formatted balance sheet. Balance sheets are usually prepared at the close of an accounting period, such as month-end, quarter-end, or year-end.
Definition: A balance sheet is one of four basic accounting financial statements. The other three being the income statement, state of ownerâs equity, and statement of cash flows. The balance sheet uses the accounting equation (assets = liabilities + ownerâs equity) to show a financial picture of the business on a specific day. In other words, a balance sheet lists all of the assets that a company owns as well as the debts owed by the company and the ownerâs interest or ownership share in the company.