Example of Balance Sheet for Financial Statement:

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a given point in time. It shows the assets, liabilities, and equity of the company and provides information on how the company has financed its operations.

Format of Balance Sheet:

A balance sheet is typically divided into two sections: Assets and Liabilities & Equity. Assets are what the company owns, while liabilities & equity are what the company owes.

1. Assets:
- Current Assets:
- Cash and Cash Equivalents
- Accounts Receivable
- Inventory
- Prepaid Expenses
- Long-term Assets:
- Property, Plant, and Equipment
- Intangible Assets
- Investments

2. Liabilities & Equity:
- Current Liabilities:
- Accounts Payable
- Accrued Expenses
- Short-term Loans
- Income Taxes Payable
- Long-term Liabilities:
- Long-term Debt
- Deferred Taxes
- Equity:
- Common Stock
- Retained Earnings
- Treasury Stock

Explain in Details:

Assets:
- Current Assets: These are assets that the company expects to convert into cash within one year or the operating cycle, whichever is longer. Examples include cash, accounts receivable, inventory, and prepaid expenses.
- Long-term Assets: These are assets that the company expects to hold for more than one year. Examples include property, plant, and equipment, intangible assets, and investments.

Liabilities & Equity:
- Current Liabilities: These are obligations that the company expects to pay within one year or the operating cycle, whichever is longer. Examples include accounts payable, accrued expenses, short-term loans, and income taxes payable.
- Long-term Liabilities: These are obligations that the company expects to pay beyond one year. Examples include long-term debt and deferred taxes.
- Equity: This represents the residual interest in the assets of the company after deducting liabilities. Examples include common stock, retained earnings, and treasury stock.

Balance Sheet Equation:
The balance sheet equation is Assets = Liabilities + Equity. This means that the total assets of the company must equal the total liabilities and equity. The balance sheet provides a snapshot of the financial position of the company at a given point in time. It is an important tool for investors, creditors, and other stakeholders to evaluate the financial health of the company.