A.

Prepare a Balance Sheet ( Vertical Format ) from this Trial Balance:
Account Name		Debit		Credit
Cash in savings		$120,000.00
Accounts receivable		$5,000.00
Prepaid rent		$20,000.00
Furniture and fixtures		$10,000.00
Accumulated depreciation - furniture and fixtures				$1,800.00
Equipment		$75,000.00
Accumulated depreciation - equipment				$7,500.00
Accounts payable				$2,800.00
Notes payable				$10,000.00
Owner's equity				$150,000.00
Owner's drawing account		$10,000.00
Sales				$145,300.00
Laundry Supplies		$4,500.00
Allowance for doubtful accounts				$500.00
Advertising		$5,500.00
Bad debt/Doudtful account expense		$300.00
Depreciation- Furniture		$600.00
Depreciation- Laundry Equipment		$2,500.00
Insurance		$2,500.00
Laudry Supply expense		$5,000.00
Salary Expense		$15,000.00
Rent		$30,000.00
Utilities		$12,000.00
Totals		$317,900.00		$317,900.00