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17) On December 31, 2016, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $31,000. Accrued revenue: $29,000. Accrued expenses: $12,000. A
17) On December 31, 2016, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $31,000. Accrued revenue: $29,000. Accrued expenses: $12,000. A $9,000 adjustment to an existing deferred expense. A $7,000 adjustment to an existing deferred 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) $397,000. B) $388,000. C) $379,000. D) $374,000. E) NOTA
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