The following financial information is for Siennas Health and Fitness, LLC., as of December 31, 2021. Calculate
Question:
The following financial information is for Sienna’s Health and Fitness, LLC., as of December 31, 2021. Calculate the owner’s Equity for 2021 and prepare a comparative balance sheet with horizontal analysis for 2019 and 2021: current assets, $154,300; property, plant, and equipment, $124,650; investments and other assets, $20,000; current liabilities, $65,210; and long-term liabilities, $83,800.
Balance Sheet
Sienna’s Health and Fitness
Balance Sheet - December 31, 2021
2019 2021 $Change %Change
ASSETS
Current Assets $132,500 $154,300
Plant Property & equipment $88,760 $124,650
Investments & Other Assets $32,400 $20,000 -
Total Assets
LIABILITIES
Current Liabilities $51,150 $65,210
Long-Term Liabilities $87,490 $83,000
Total Liabilities
OWNERS EQUITY = $115,020 $150,740
Total Liabilities + Equity $253,660 $298,950
Expert Answer:
To calculate the owners equity for 2021 we need to subtract total liabilities from total assets 2989... View the full answer
