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Ipatiy [6.2K]
3 years ago
12

The total assets on the balance sheet was $128,800 before journalizing and posting the adjusting entries for $800 of expired ins

urance, $2,400 of expired rent and $900 of depreciation. What are the total assets after journalizing and posting the adjusting?
Business
1 answer:
Tanya [424]3 years ago
8 0

<u>Given:</u>

Total assets before journalizing and posting the adjusting = $128,800

Expired insurance = $800

Expired rent = $2,400

Depreciation = $900

<u>To find:</u>

Total assets after journalizing and posting the adjusting

<u>Solution:</u>

To determine the value of the total assets after journalizing and posting the adjustment, we have to subtract all the given values i.e, the expired rent, expired insurance and the depreciation values from the total assets before journalizing and posting the adjusting.

The calculation is as follows,

Total assets after journalizing and posting the adjusting

\Rightarrow\$128,800 - \$800 - \$2,400 - \$900 = \$124,700

Therefore, the required value of the total assets after journalizing and posting the adjusting is $124,700.

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