Bugs Moran Company sells a truck which originally cost $32,000. Accumulated depreciation at the time of the sale was $27,000. The estimated residual value of the truck when it was purchased was $2,000. Assuming the truck was sold for $8,000 cash, Bugs Moran Company would report the following on its income statement with regards to the sale: a. a $6,000 gain on asset sale; b. a $5,000 gain on asset sale c. a $3,000 gain on asset sale; d. no gain or loss on asset sale. Lucky Luciano Company purchased new equipment on January 1, 2018, at a cost of $80,000. In addition, the company paid $5,000 sales tax on the equipment, $12,000 to have the equipment delivered and installed, and $3,000 testing and calibrating the equipment before it was placed in service. After using the equipment for 30 days, the company had to do some normal maintenance on the equipment at a cost of $ total cost of this equipment recorded as an asset in the accounting records is: a. $80,000 b. $97,000 c. $100,000 d. $100,150 150. The 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 $1,400 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 30h, 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