Final answer:
In a balance sheet, place the dollar sign next to the first number in each column and alongside the final total at the bottom of each column, following T-account conventions.
Step-by-step explanation:
When preparing a balance sheet, there are specific conventions for the placement of dollar signs to ensure clarity and professional presentation. One rule is to place the dollar sign only next to the first number in each column, not next to subsequent numbers.
This means that you would put a dollar sign next to the total amount in the "Assets" and "Liabilities" sections of a T-account balance sheet and not next to individual line items. Another rule is to place a dollar sign next to the final total at the bottom of each column which signifies the cumulative total of the Assets and Liabilities.