What does a balance sheet contain?

a balance sheet is a snapshot of an entity, i.e. it is information particular to a specific point in time as opposed to a report containing info over a period of time. for instance, a balance sheet will tell you the amount of your bank account balance, but it won't tell you how it got so low.

with that said, a balance sheet simply contains a listing of your assets, liabilities/debts, and equity/net worth.