Final answer:
The Balance Sheet is the financial statement that shows the balances in the accounts as of a specific date, reflecting the company's financial position including assets, liabilities, and owners' equity.
Step-by-step explanation:
The financial statement that shows the balances in the accounts as of a specific date, such as June 30, 2018, is the Balance Sheet. The Balance Sheet provides a snapshot of a company's financial position at a given point in time by listing its assets, liabilities, and equity. It helps to determine the financial health and liquidity of a business.
The balance sheet presents a company's financial position at a specific point in time, listing assets, liabilities, and owners' equity. Assets include items of value such as cash, inventory, and property, whereas liabilities represent debts and obligations. The difference between assets and liabilities is known as the owners' equity or net worth of the business.