rack the impacts of each event and answer a few questions. Expenses such as supplies, utilities and salaries are all covered by the headquarters and not part of this scenario he company's accounting policy on asset requires that any individual asset valued at over $10k be recorded as a capital asset and below $10k be expensed mortization is calculated using the straight-line method. how your working: ivent 1: ivent 2: ettled. These tables and desks were all individually purchased at prices below $10k. ivent 3: mortized. It's estimated that this will extend the building's life expectancy by another 10 years. 1- What will be the combined balance of the Asset account after all has been recorded? - $195000 - $192,000 - $189,000 - $193,000 2- What is going to be the Closing balance for amortization expense for the year ended March 31, 2024 - $11,460 - $12,460 - $16,460 - No amortisation after first year of use 3- The tables being disposed of were capitalised when originally purchased. What is the impact on the financial statement? - Asset understated and cash overstated. - Expenses overstated and cash understated. - Revenue overstated and expenses understated. - Asset overstated and expenses understated. - No impact