1.Assume the following general ledger account balances for Xenon Inc. for December 31, 2019

Accumulated Depreciation	50,000
Building	70,000
Depreciation Expense	20,000
Equipment	53,000
Land	90,000
Unused Supplies	3,000

What is the carrying amount of the companys plant and equipment section of the balance sheet at December 31, 2019?

2.Artisan Industries Inc. purchased a machine for $48,000 on January 1, 2019. It estimates that its residual value is $12,000 and its useful life is 6 years. What is the depreciation expense for 2019 if the company uses the straightline depreciation method?

3.

The final step in the accounting cycle is to:

Group of answer choices

A.Prepare an adjusted trial balance

B.Prepare the financial statements

C.Prepare a postclosing trial balance

D.Prepare closing entries