ID: D Name: 45. Derek Company gathered the following reconciling information in preparing its September bank $2,750 200 630 30 1,250 190 Cash balance per books, 9/30 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check The adjusted cash balance per books on September 30 is a $5,050. b. $2,110 .$3.160. d. $1,910. 46. A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset? a. $2,000 loss b. $3,500 gain c. $1,500 loss d. $2,000 gain 47. During times of rising prices, which of the following is got an accurate statement? a. FIFO will result in a higher net income than LIFO. b. Average costing will yield results that are between those of FIFO and LIFO c LIFO will result in a higher cost of goods sold than FIFO. d. LIFO will result in higher income taxes than FIFO. OnOctober 1, Black Company receives a 6% interest bearing note from Reese Company to settle a S20000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of a $600 48. b. $300 .$0 d. $1.200 Which of the following entries records the receipt of a utility bill from the water company? 49. debit Utilities Payable; credit Accounts Receivable a. b. debit Utilities Expense; credit Accounts Payable debit Accounts Payable; credit Cash c. d. debit Accounts Payable, credit Utilities Payable The assets and liabilities of the company are $128,000 and $84,000, respectively. should equal a $212,000 b. $128,000 c. $84,000 d. $44,000 S0. Stockholders' equity 10