14. A business pays weekly salaries of $120,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on a Thursday is (2 points) debit Salaries and Wages Expense, $120.000 credit Salaries and Wages Payable $120.000 debit Salaries and Wages Expense, 596,000 credit Solaries and Wages Payable 596,000 debit Salakes and Wages Payable, $120.000 credit Cash $120,000 debit Salaries and Wages Expense. $95.000 credit Cath. $90,000 15. On August 16, 2020, ABC writes a 90-day, 75%, 555,000 note to settle an open account with XYZ. Assuming that ABC pays the note in full on its due date and a 360 day year is used to calculate interest, how much cash will XYZ record on its statement of financial position, and on what date will the cash be received? (2 points) $10.3125 on Oct. 5, 2020 5101t50 Nov 12000 Stalt 29 on Oct 15, 2000 1101135 16. Units-of-activity is an appropriate depreciation method to use when (2 points) the company is a manufacturing company the productivity of the asset varkes significantly from one period to another the asset's use will be constant over its useful life it is impossible to determine the productivity of the asset 17 ABC lends XYZ $125,000 on July 1, 2020, accepting a six-month, 6,5% interest-bearing note: Assuming the date ABC's statement of financial position is September 30, 2020, what amounts will ABC record related to this note? (2 points) $40625 $203125 $2031225 540625 19. These are selected account balances on December 31, 2020 Land (corporation's office building) Supplies Corporate Office Building Inventory Equipment Office Furniture Accumulated Depreciation $100,000 150,000 600,000 200,000 450,000 100,000 300,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? (2 points) $1,300,000 $950,000 $1,100,000 $1,600,000 20. In the unadjusted trial balance of its worksheet for the year ended December 31, 2020, ABC Company reported Equipment of 150,000. The year-end adjusting entries require an adjustment of 20,000 for depreciation expense for the equipment. After the adjusted trial balance is completed, what amount should be shown in the financial statement columns? (2 points) A debit 150.000 for Equipment in the statement of financial position column A cedit of 420.000 for Depreciation Expense-Equisent in the income statement column Adebit of 130.000 for Equipment in the statement of financial position column A debit of 20000 for Accumulated Depreciation Equipment in the statement of financial position com 14. A business pays weekly salaries of $120,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on a Thursday is (2 points) debit Salaries and Wages Expense, $120.000 credit Salaries and Wages Payable $120.000 debit Salaries and Wages Expense, 596,000 credit Solaries and Wages Payable 596,000 debit Salakes and Wages Payable, $120.000 credit Cash $120,000 debit Salaries and Wages Expense. $95.000 credit Cath. $90,000 15. On August 16, 2020, ABC writes a 90-day, 75%, 555,000 note to settle an open account with XYZ. Assuming that ABC pays the note in full on its due date and a 360 day year is used to calculate interest, how much cash will XYZ record on its statement of financial position, and on what date will the cash be received? (2 points) $10.3125 on Oct. 5, 2020 5101t50 Nov 12000 Stalt 29 on Oct 15, 2000 1101135 16. Units-of-activity is an appropriate depreciation method to use when (2 points) the company is a manufacturing company the productivity of the asset varkes significantly from one period to another the asset's use will be constant over its useful life it is impossible to determine the productivity of the asset 17 ABC lends XYZ $125,000 on July 1, 2020, accepting a six-month, 6,5% interest-bearing note: Assuming the date ABC's statement of financial position is September 30, 2020, what amounts will ABC record related to this note? (2 points) $40625 $203125 $2031225 540625 19. These are selected account balances on December 31, 2020 Land (corporation's office building) Supplies Corporate Office Building Inventory Equipment Office Furniture Accumulated Depreciation $100,000 150,000 600,000 200,000 450,000 100,000 300,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? (2 points) $1,300,000 $950,000 $1,100,000 $1,600,000 20. In the unadjusted trial balance of its worksheet for the year ended December 31, 2020, ABC Company reported Equipment of 150,000. The year-end adjusting entries require an adjustment of 20,000 for depreciation expense for the equipment. After the adjusted trial balance is completed, what amount should be shown in the financial statement columns? (2 points) A debit 150.000 for Equipment in the statement of financial position column A cedit of 420.000 for Depreciation Expense-Equisent in the income statement column Adebit of 130.000 for Equipment in the statement of financial position column A debit of 20000 for Accumulated Depreciation Equipment in the statement of financial position com