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.
Balance sheets list the ending sums of assets, liabilities, and equity for a particular date. Ad. Information on the income statement is used to create the balance sheet, but that information is first filtered through a retained earnings statement. The process begins with the accountant transferring the income statementâs balance, or deficit depending on the circumstances, to the retained earnings statement.