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22 April, 20:51

Here is financial statement information on four not-for-profit clinics: Pittman Rose Beckman Jaffe December 31, 2014: Assets $80,000 $100,000 g $150,000 Liabilities 50,000 d $75,000 j Equity a 60,000 45,000 90,000 December 31, 2015: Assets b 130,000 180,000 k Liabilities 55,000 62,000 h 80,000 Equity 45,000 e 110,000 145,000 During 2015: Total revenues c 400,000 i 500,000 Total expenses 330,000 f 360,000 l Fill in the missing values labeled a through l.

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  1. 22 April, 23:27
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    See the explanation below.

    Explanation:

    Given the following;

    Pittman Rose Beckman Jaffe

    December 31, 2014:

    Assets $80,000 $100,000 g $150,000

    Liabilities 50,000 d $75,000 j

    Equity a 60,000 45,000 90,000

    December 31, 2015:

    Assets b 130,000 180,000 k

    Liabilities 55,000 62,000 h 80,000

    Equity 45,000 e 110,000 145,000

    During 2015:

    Total revenues c 400,000 i 500,000

    Total expenses 330,000 f 360,000 l

    we have:

    For Pittman

    a = $80,000 - 50,000 = $30,000

    b = $55,000 + 45,000 = $100,000

    2015 Profit = 2015 Equity - 2014 Equity = $45,000 - $30,000 = $15,000

    c = 2015 Profit + 2015 Total expenses = $15,000 + $330,000 = $345,000

    For Rose

    d = $100,000 - $60,000 = $40,000

    e = $130,000 - $62,000 = $68,000

    2015 Profit = $68,000 - $60,000 = $8,000

    f = $400,000 - $8,000 = $392,000

    For Beckman

    g = $75,000 + $45,000 = $120,000

    h = $180,000 - $110,000 = $70,000

    2015 Profit = $110,000 - $45,000 = $65,000

    i = $360,000 + $65,000 = $425,000

    For Jaffe

    j = $150,000 - $90,000 = $60,000

    k = $80,000 + $145,000 = $225,000

    2015 Profit = $145,000 - $90,000 = $55,000

    l = $500,000 - $55,000 = $445,000
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