26. Cineo Enterprises has the following: Goods Available 4/3 Purchase ginning Balance 10010 Purchase Purchase 1,000 5,400 4,900 6/6 12 GAFS 15 3,000 1,100 FIFO method is hand at December 31, the cost of the ending inventory 50 unrts per unt If Cineo Enterprise has 50 units on at 6PSo a. $890 b$780 c. $760 750 27. Hoo Ya Corporation issued a one-year, 10%, s20 expense for the year ended December 31, 2016 was a. $6,554 b, S6.667 e. $6,758. d. $7,254 00 000 none on August 31, 2016. Interest 28. The two fundamental qualities of useful information are a. verifiability and timeliness. b. relevance and faithful representation c. comparability and flexibility d. understandability and consistency. 29. Characteristics associated with relevant accounting information are a. comparability and timeliness b. predictive value and confirmatory value. c. neutral and verifiable. d. consistency and understandability The adjusting entry necessary at the end of the fiscal period ending on a Wednesday is a. debit Salaries and Wages Payable, $21,000; credit Cash, $21,000, b. debit Salaries and Wages Expense, $21,000; credit Cash, $21,000. c. debit Salaries and Wages Expense, $21,000, credit Salaries and Wages Payable, 30. A business pays weekly salaries of $35,000 on Friday for a five-day week ending on that day. $21,000. d. debit Salaries and Wages Expense, $14,000; credit Salaries and Wages Payable $14,000. PAGE | 5 ACCOUNTING 101 SPRING 2018