Solved

On December 31,2019,Krug Company Prepared Adjusting Entries That Included the Following

Question 121

Multiple Choice

On December 31,2019,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 total assets of $390,000 prior to the adjusting entries,how much are Krug's total assets after the adjusting entries?


A) $350,000.
B) $386,000.
C) $379,000.
D) $374,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions