On December 31, 2014, Krug Company reported total assets of $390,000 prior to the following adjusting entries: Depreciation expense was $31,000.
Accrued service revenues totaled $29,000.
Accrued expenses totaled $12,000.
Used insurance: $9,000; the insurance was initially recorded as prepaid.
Rent revenue earned: $7,000; the rent was initially prepaid by the tenant and credited to unearned rent revenue.
How much are Krug's total assets after adjusting entries?
A) $350,000.
B) $386,000.
C) $379,000.
D) $374,000.
Correct Answer:
Verified
Q72: What is the effect on the financial
Q73: What is the effect on the financial
Q74: On July 1, 2014, Goode Company borrowed
Q76: On December 31, 2014, Krug Company reported
Q77: On January 1, 2014, Ryan Company paid
Q78: Assume Idaho Company recorded the following
Q81: Which of the following account balances would
Q83: Which of the following statements is inaccurate
Q84: Which of the following account balances would
Q100: Which of the following account balances would
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents