On December 31, 2014, Krug Company reported total liabilities of $240,000 prior to the following...
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Accounting
On December 31, 2014, Krug Company reported total liabilities of $240,000 prior to the following adjusting entries: Depreciation expense: $46,000; Accrued service revenues: $44,000; 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. How much are Krug's total liabilities after adjusting entries? $252,000. $208,000. $286,000. $240,000.
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