BALANCE SHEET

Balance sheet list the amount of the assets,liabilities-and owner equity at the end of the accounting period,the balance of the assets and liabilities accounts are taken directly from the adjusted trial balance the amount of owner equity at the end of period was determined in the statement of owners equity.Balance sheet have been arranged in account from that is assets on the left and liabilities and owner equity on the right the account from the report of balance sheet are widely used.The balance sheet prepared at the end of the preceding period and the one prepared at the end of the current period the amount of owners equity at the respective balance sheet dates.