5 At the end of the fiscal year, the usual adjusting entry for accrued salaries owed to employees was omitted. Which of the following statements is true? 0 Salaries and Wages Expense for the year is overstated Assets at the end of the year are understated Liabilities at the end of the year are understated Stockholders' equity at the end of the year is understated 1 pts Question 6 1 pts Equipment that cost $149,000 and on which $128,000 of accumulated depreciation has been recorded was disposed of for $35,000 cash. The entry to record this event would include a gain of $14,000 credit to Accumulated Depreciation for $128,000 loss of $14,000 credit to the Equipment account for $35,000 Question 7 If ending inventory is understated, and net income is overstated, then: begin inventory must have been understated and COGS understated begin inventory must have been understated and COGS overstated begin inventory must have been overstated and COGS understated begin inventory must have been overstated and COGS overstated