On December 31, 2020 mpany prepared adjusting entries that included the following items: Accrued sales revenue: $29,000. Accrued salaries and wages: $14,000. Depreciation expense: $31,000. Used insurance: $8,000; the insurance was initially recorded-as Prepaid Insurance. Advertising revenue earned: $7,000; the advertising was initially paid by the client in advance and recorded as Unearned Advertising Revenue. If De cocompany reported total assets of $390,000 prior to the adjusting entries, how much are Dear otal assets after the adjusting entries?

On December 31, 2020 mpany prepared adjusting entries that included the following items: Accrued sales revenue: $29,000. Accrued salaries and wages: $14,000. Depreciation expense: $31,000. Used insurance: $8,000; the insurance was initially recorded-as Prepaid Insurance. Advertising revenue earned: $7,000; the advertising was initially paid by the client in advance and recorded as Unearned Advertising Revenue. If De cocompany reported total assets of $390,000 prior to the adjusting entries, how much are Dear otal assets after the adjusting entries?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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