Balance Sheet – December 31, 2020
| Assets | Amount | Liabilities | Amount |
|---|---|---|---|
| Cash | $5,500.00 | Accounts Payable | $500.00 |
| Equipment | $4,500.00 | Notes Payable | $1,000.00 |
| Accounts Receivable | $800.00 | Total Current Liabilities | $1,500.00 |
| Prepaid Court Rentals | $700.00 | Long Term Debt | $0.00 |
| Total Current Assets | $11,000.00 | Owner’s Equity | $9,500.00 |
| Fixed Assets | $0.00 | ||
| Total Assets | $11,000.00 | Total Liabilities and Owner’s Equity | $11,000.00 |
