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On December 31, 2016, before preparing and recording adjusting entries, Quartend Corporation reported total assets...

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Accounting

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On December 31, 2016, before preparing and recording adjusting entries, Quartend Corporation reported total assets of $114,763 and total liabilities of $50,970 prior to the following adjusting entries: 4. Rent revenue earned was $12,600; a tenant prepaid the rent: Quartend credited unearned rent revenue Depreciation expense was $1,770 Previously deferred rent expense totaled $20,960 Accrued interest owed totaled $273 How much are Cutoff's total assets after adjusting entries? How much are Cutoff's total liabilities after adjusting entries? Use the space below to calculate your answers

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