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Evolution is
Balance Sheet
An account that consolidates the assets, liabilities, and shareholders' equity of a company, reflecting its financial status at a specific time.
Adjusted Trial Balance
A list of all accounts and their balances after adjustments have been made, used to prepare financial statements.
Total Assets
The sum of all assets owned by a company, including both current (short-term) and non-current (long-term) assets, representing the total resources at its disposal.
Income Statement
A document detailing a firm's incomes and expenditures within a certain timeframe, ultimately revealing the net profit or deficit for that interval.
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