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.
3. Prepare the Balance Sheet. The balance sheet is the financial statement that is prepared to illustrate the firm's financial position at a point in time -- on the last day of the accounting cycle. The entries on the balance sheet come from the general ledger and the format mirrors the accounting equation.