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.
As the term implies, a balance sheet is a two-column statement of items that are the same: both columns should balance each other out. The first column is a list of assets. The second column is the sum of a list of liabilities and the ownerâs equity in the business. Expressed as an equation, the balance sheet shows: