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Question 30 (10 points) Following are selected account balances for ABC Company as of December 31, 2021: Salaries and wages payable $7,690 Notes payable $6,600 Salaries and wages expense 30,400 Cash 10,200 Utilities expense 16.900 Accounts receivable 10,250 Equipment 40,350 Accumulated depreciation 7,200 Accounts payable 5 200 Owner's drawings 5,000 Service revenue 51,700 Depreciation expense 6.000 Rent revenue 11,200 Owner's capital 46 500 Unearned service revenue 4,500 Prepaid insurance Prepare the year end closing entries in good form. Don't forget dates and explanations! 800 LV-1 PIILI The following information is for ABC Company ABC Company Balance Sheet December 31, 2021 Assets Cash Prepaid Insurance Accounts Receivable Inventory Investments Land Building Less Accumulated Depreciation Trademarks Total Assets $45,000 80,000 110,000 140,000 185,000 250,000 200,000 (50,000) 150,000 140,000 $1.100.000 Liabilities & Owner's Equity Accounts Payable Salaries & Wages Payable Mortgage Payable Total Liabilities $140,000 60,000 150,000 350,000 Owner's Capital 750.000 Total Liabilities & Owner's Equity $1.100.000 What is the total for property, plant, and equipment? Question 28 (5 points) ABC Company bought supplies on account from 123 Company for $440. ABC Company incorrectly debited Equipment $400 and credited Accounts Payable $400. Record, in good form, the necessary correcting entry. Question 25 (2 points) On January 1, 2020, ABC Company purchased equipment for $57,000. The company is depreciating the equipment at the rate of $900 per month. The book value of the equipment on December 31, 2020 is Question 24 (2 points) ABC Company follows the revenue recognition principle. ABC paints the home of a customer on November 30. The customer is mailed a statement on December 1, and they mail a payment to ABC on December 8. ABC receives the check in the mail on December 12. On which date should ABC recognize the revenue

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