12.3Here is the financial statement information on four not-for-profit clinics: Fill in the missing values labeled a through l. PittmanRoseBeckmanJaffeDecember 31, 2015:Assets$ 80,000 $100,000g$150,000Liabilities50,000d$ 75,000jEquitya60,00045,00090,000December 31, 2016:Assetsb130,000180,000kLiabilities55,00062,000h80,000Equity45,000e110,000145,000During 2016:Total revenues400,000i500,000Total expenses330,000f360,000

This question can be solved on the accounting equation of Total asset = Equity + liability. This…

Pittman Rose Beckman Jaffe December 31, 2015: Assets $ 80,000 $1o0,000 $150,000 Liabilities 50,000 d $ 75,000 j Equity a 60,000 45,000 90,000 December 31, 2016: Assets b 130,000 180,000 k Liabilities 55,000 62,000 h 80,000 Equity 45,000 e 110,000 145,000 During 2016: Total revenues 400,000 i 500,000 Total expenses 369.000 330.000

Pittman Rose Beckman Jaffe December 31, 2015: Assets $ 80,000 $1o0,000 $150,000 Liabilities 50,000 d $ 75,000 j Equity a 60,000 45,000 90,000 December 31, 2016: Assets b 130,000 180,000 k Liabilities 55,000 62,000 h 80,000 Equity 45,000 e 110,000 145,000 During 2016: Total revenues 400,000 i 500,000 Total expenses 369.000 330.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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LiabilitiesOMRAssetsOMRShare capital400,000Land and building280,000Net profit60,000Plant and machinery700,000General reserve80,000Stock400,000Debentures840,000Debtors200,000Creditors200,000Bills receivables20,000Bills payable100,000Cash80,000Total1,680,000Total1,680,000 1>calculate total current liabilites 2>calculate total Current assets
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