Balance Sheet

The balance sheet lists the company’s assets, liabilities, and equity (including dollar amounts) for a specific moment in time. That specific moment is the close of business on the date listed at the top of the balance sheet. A balance sheet is like a photograph; it captures the financial position of a company at a particular moment in time.

You can see from the example below that the balance sheet takes the information from the balance of accounts above and groups the items according to whether they are assets, liabilities, or equity.