Question
On December 31, 2019, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $46,000. Accrued sales revenue: $30,000. Accrued expenses: $16,000. Used
On December 31, 2019, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $46,000. Accrued sales revenue: $30,000. Accrued expenses: $16,000. Used insurance: $6,000; the insurance was initially recorded as prepaid. Rent revenue earned: $4,000; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Krug Company reported total assets of $440,000 prior to the adjusting entries, how much are Krug's total assets after the adjusting entries?
Multiple Choice $430,000. $422,000. $388,000. $418,000.
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