On January1, 2017, Agronomist Inc. had a balance of$340,000 in thelongterminvestments account. During2017, Agronomist Inc. soldlongterminvestments for$115,000 cash, resulting in a$13,000 gain. On December31, 2013, thelongterminvestments account showed a balance of$380,000. Thelongterminvestments purchased during 2013totalled:

A.$75,000

B.$265,000

C. $155,000

D.$142,000

The bank statement balance is$3,500and shows a service charge of$16, interest earned of$8, and an NSF cheque for$350. Deposits in transit total$1,100; outstanding cheques are$475. The bookkeeper recorded as$146a cheque of$120in payment of an account payable.

(1)What is the adjusted bankbalance?

(2)What was the book balance of cash before thereconciliation?

Jantzi Company reported capitalassets, net of accumulateddepreciation, on January1, 2017, at$427,500 and$579,300 on December31, 2017. The income statement showed depreciation of$38,700. Jantzi Company acquired$275,000 of capital assets during the year and reported proceeds from the sale of capital assets of$89,200 for the year. The gain or loss resulting from the sale of capital assetswas:

A.$4,700 gain

B.$5,050 gain

C.$2,390 loss

D.$3,400 loss