On December 31, 2016, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $31,000.
Accrued sales revenue: $29,000.
Accrued expenses: $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.
If Krug Company reported pretax income of $120,000 prior to the adjusting entries, how much is Krug's pretax income after the adjusting entries?

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The Answer of On December 31, 2016, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $31,000.
Accrued sales revenue: $29,000.
Accrued expenses: $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.
If Krug Company reported pretax income of $120,000 prior to the adjusting entries, how much is Krug's pretax income after the adjusting entries?

On December 31, 2016, Krug Company Prepared Adjusting Entries That