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13) On December 31, 2023, Vivid Corporation prepared adjusting entries that included the following items: Depreciation expense: $43,400. Accrued sales revenue: $40,600. Accrued expenses: $16,800. Used insurance: $12,600; the insurance was initially recorded as prepaid. Rent revenue earned: $9,800; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Vivid Corporation reported total assets of $546,000 prior to the adjusting entries, how much are Vivid's total assets after the adjusting entries? A) $490,000 B) $540,400 c) $530,600 D) $523,600

13) On December 31, 2023, Vivid Corporation prepared adjusting entries that included the following items: Depreciation expense: $43,400. Accrued sales revenue: $40,600. Accrued expenses: $16,800. Used insurance: $12,600; the insurance was initially recorded as prepaid. Rent revenue earned: $9,800; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Vivid Corporation reported total assets of $546,000 prior to the adjusting entries, how much are Vivid's total assets after the adjusting entries? A) $490,000 B) $540,400 c) $530,600 D) $523,600

FINANCIAL ACCOUNTING
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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13) On December 31, 2023, Vivid Corporation prepared adjusting entries that included the following items: Depreciation expense: $43,400. Accrued sales revenue: $40,600. Accrued expenses: $16,800. Used insurance: $12,600; the insurance was initially recorded as prepaid. Rent revenue earned: $9,800; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Vivid Corporation reported total assets of $546,000 prior to the adjusting entries, how much are Vivid's total assets after the adjusting entries? A) $490,000 B) $540,400 c) $530,600 D) $523,600
Transcribed Image Text:13) On December 31, 2023, Vivid Corporation prepared adjusting entries that included the following items: Depreciation expense: $43,400. Accrued sales revenue: $40,600. Accrued expenses: $16,800. Used insurance: $12,600; the insurance was initially recorded as prepaid. Rent revenue earned: $9,800; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Vivid Corporation reported total assets of $546,000 prior to the adjusting entries, how much are Vivid's total assets after the adjusting entries? A) $490,000 B) $540,400 c) $530,600 D) $523,600
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