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Depreciation expense is reported on the income statement as: a. part of net sales; b. part of other revenues and expenses c. depreciation expense in
Depreciation expense is reported on the income statement as: a. part of net sales; b. part of "other" revenues and expenses c. depreciation expense in not reported on the income statement; d. part of operating expenses. Gains and losses on the sale of plant assets are reported on the income statement as: a. part of net sales; b. part of "other" revenues and expenses; c. gains and losses on the sale of plant assets are not reported on the income statement d. part of operating income. Bonnie and Clyde Company purchased a delivery truck on January 2, 2018 and placed it in service the next day. In November 2018, a defective tire needed to be replaced at a cost of $150. The cost of the new tire would be: a. included in net sales on the income statement; b. included in "other" revenues and expenses on the income statement; c. added to the Delivery Truck asset account; d. included in operating expenses on the income statement. Dutch Schultz Company's bank statement for April 2018 indicated a cash balance of S1,400 at April 30, 2018. The cash account per Dutch Schultz Company's accounting records indicated a cash balance of $950. Upon review of the bank statement and accounting records the following information was noted On April 30th, a $1,300 deposit was made after banking hours. The deposit did not appear on the April bank statement. . Outstanding checks totaled $1,870 at the end of April. .Bank service charges of $35 were deducted from the bank account in April. Interest earned on the checking account in April was $15. .A customer's check for $100 marked NSF was returned by the bank with the April bank statement. Assuming this is the only monies they have, how much would Dutch Schultz Company report as cash on its April 30, 2018 balance sheet? a. $1,400 b. $950 c. $930 d. $830
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