Week 4 Assignment 1: Calculate Total Expenses and Total Revenues (5 Points)
For this week’s assignment, you will need to analyze the Warren Clinic’s 2020 income statement, correctly identify the errors in the Revenue and Expense Tables, reorder the data, place the revenues and expenses in the proper place, and then, recalculate each table. Entries for the Warren Clinic’s 2020 income statement are listed below in alphabetical order and you must reorder the data in the proper format.
Table 1
Warren Clinic 2020
Revenue
2020
Depreciation expense
90,000
(Less sales returns and allowances)
1,000
General /Administrative Expense
70,000
Interest Expense
20000
Investment Income
40000
Total Revenues
Expenses
Net Income (loss)
(10000)
Net Operating revenues
410000
Net patient Services Revenue
400000
Other Revenue
10000
Purchased service
90000
Salaries and benefits
150000
Total Expenses
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