Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Interest Payable Common Stock Retained Earnings Sales Revenue SHEFFIELD FASHION CENTER Adjusted Trial Balance November 30, 2020 tA Debit 33420 37180 48480 4980 139960 LA Credit 43340 54480 51980 10490 93480 11480 765400

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.