Requirement 3. What would be the impact on iHeartMedia, Inc., financial statements if they failed to record the adjusting entry related to the structure? on the If iHeartMedia failed to record the adjusting entry related to the structure, assets would liabilities would and equity would balance sheet. Additionally, revenues would expenses would net income would V on the income statement. , and Click to select your answer(s) and then click Check Answer. All parts showing Clear All Check Answer To record depreciation on structure. Requirement 2. What would be the book value of the structure at the end of the first year? What woul be the book value of the structure at the end of the second year? Structure purchased on August 1, Year 1 96,000 86,400 Book value at December 31 Year 1 Book value at December 31 Year 2 X nts if they failed to 0 Data Table Nould Plant Asset on the . and Buildings and improvements Structures Towers, transmitters, and studio equipment Furniture and other equipment Useful Life 10 to 39 years 5 to 15 years 7 to 20 years 3 to 20 years (Answer Requirement 3. What would be the impact on iHeartMedia, Inc., financial statements if they failed to record the adjusting entry related to the structure? on the If iHeartMedia failed to record the adjusting entry related to the structure, assets would liabilities would and equity would balance sheet. Additionally, revenues would expenses would net income would V on the income statement. , and Click to select your answer(s) and then click Check Answer. All parts showing Clear All Check Answer To record depreciation on structure. Requirement 2. What would be the book value of the structure at the end of the first year? What woul be the book value of the structure at the end of the second year? Structure purchased on August 1, Year 1 96,000 86,400 Book value at December 31 Year 1 Book value at December 31 Year 2 X nts if they failed to 0 Data Table Nould Plant Asset on the . and Buildings and improvements Structures Towers, transmitters, and studio equipment Furniture and other equipment Useful Life 10 to 39 years 5 to 15 years 7 to 20 years 3 to 20 years (