Give a financial description of the Balance Shee ABC GYM & FITNESS CENTERPROJECTED BALANCE SHEETAS ON PERIODS ENDED FROM DECEMBER 31st YEAR 3[ECD $]ASSETSCurrent AssetsCash in HandNon-Current AssetsTangible Fixed Assets.Gym EquipmentsTOTAL ASSETSEQUITY AND LIABILITIESEQUITYEquityRetained Earnings.Non-Current LiabilitiesLoan PayableCurrent LiabilitiesLoan PayableTax PaybleTOTAL EQUITY AND LIABILITIES2022106,451.58853,675.417160,127.00590,0008,259.35345,193.6513,920.8842,753.118160,127.00502023136,717.79748,795.833185,513.6390,00039,804.82430,715.9314,477.7210,515.157185,513.6302024183,450.80143,916.25227,367.05190,00089,939.54715,659.10215,056.82916,711.574227,367.0510 ABC GYM & FITNESS CENTERPROJECTED BALANCE SHEETAS ON PERIOD ENDED DECEMBER 31st, 2022[ECD $]ASSETSCurrent AssetsCash in HandNon-Current AssetsGym EquipmentsTOTAL ASSETSEQUITY AND LIABILITIESEQUITYEquityRetained EarningsNon-Current LiabilitiesLoan PayableCurrent LiabilitiesLoan PayableTax PaybleTOTAL EQUITY AND LIABILITIES2022JulJanFebMarAprMayJunAugSepOctNovDec83,834.531 76,769.071 70,831.342 66,190.826 63,042.494 61,610.641 62,019.298 64,833.314 70,260.198 78,692.849 90,583.291 106,451.58858,148.368 57,741.736 57,335.104 56,928.472 56,521.84 56,115.208 55,708.576 55,301.944 54,895.312 54,488.681 54,082.049 53,675.417141,982.899 134,510.807 128,166.446 123,119.298 119,564.334 117,725.849 117,727.875 120,135.258 125,155.511 133,181.529 144,665.34 160,127.00590,00090,00090,00090,00090,00090,00090,00090,000 90,000 90,000 90,000 90,000-19,421.588 -25,794.58 -31,036.243 -34,977.083 -37,422.117 -38,147.039 -37,027.805 -33,499.555 -27,354.767 -18,200.532 -5,584.81 8,259.35357,975.2 56,832.137 55,685.331 54,534.771 53,380.444 52,222.338 51,060.441 49,894.74 48,725.223 47,551.878 46,374.691 45,193.6513,429.286 13,473.25 13,517.358 13,561.61 13,606.0080000013,650.55 13,695.239 13,740.073 13,785.055 13,830.183 13,875.46 13,920.884000000 2,753.118141,982.899 134,510.807 128,166.446 123,119.298 119,564.334 117,725.849 117,727.875 120,135.258 125,155.511 133,181.529 144,665.34 160,127.005000000000000

Balance Sheet : It is the sheet which shows the Assets, Liabilities and Equity and shows Assets =…

Answered: Give a financial description of the…

Business

Accounting

Give a financial description of the Balance S

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 46E: OBJECTIVE 6 Exercise 1-46 Income Statement ERS Inc. maintains and repairs office equipment. ERS had...

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