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9 and 10 ignore the writing in pencil 9. Newlin Inc. has a depreciable asset that cost $24,000, has a residual value of $2.000, and
9 and 10 ignore the writing in pencil
9. Newlin Inc. has a depreciable asset that cost $24,000, has a residual value of $2.000, and an expected life of 5 years. The book value of this asset after one year will be (ignore taxes)? SHOW calculations' 246002000=22000220005=4400220004400= 10. Seble Corp. made the following two adjusting entries at the end of 2016: (1) Dr: Wage expense and Cr: Wage payable for $2,550, (2) Dr: Unearned rent revenue and Cr: Rent revenue for $2,970. Ignoring taxes, select the best response for the effects of these two adjustments on the financial statements: (a) Total assets increased $2,970. (b) Total liabilities increased $5,520. (c) Total equity increased $5,520. (d) Total liabilities decreased \$420. (e) Total liabilities increased $2,550 Step by Step Solution
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