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    Liabilities

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    Fill in missing values (A-L) for four not-for-profit clinics.

    Pittman Rose Beckman Jaffe
    Dec 31, 2006
    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, 2007
    Assets b 130,000 180,000 k
    Liabilities 55,000 62,000 h 80,000
    Equity 45,000 c 110,000 145,000

    During 2007
    Total revenues c 400,000 i 500,000
    Total expenses 330,000 f 360,000 L.

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    https://brainmass.com/business/business-math/liabilities-profit-clinics-384352

    Solution Preview

    a. 30,000 ( A= L+E)
    b. 100,000 (A=L+E)
    c. 315,000. Change in Equity = 45,000-60,000 = (15,000). So revenue must be $15,000 less than expenses. So 330,000-15,000 = ...

    Solution Summary

    The solution explains the concepts of liabilities for non-profit clinics briefly and concisely. The answer is to the point and can easily be understood by a student with a basic understanding of the topic. Overall, an excellent response.

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