The financial statement that shows an organization the amount of debt they are carrying is called the balance sheet.
The balance sheet of a business, usually referred to as a "statement of financial position," lists the company's assets, liabilities, and equity (net worth). The income statement, cash flow statement, and balance sheet combined form the foundation of any company's financial statements.
Two components of the balance sheet are separated, and according to the following equation, they must be equal to one another or balance one another out. A balance sheet's primary calculation is:
Assets = Liabilities + Shareholders' Equity
This implies that a firm's financial liabilities, coupled with the equity investment made into the company and its retained earnings, balance its assets, or the means utilized to manage the business.
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