On a bank reconciliation, which of the following would be added to the balance per books? Select one: O outstanding cheques deposits in transit O electronic payment by a customer on account bank service charges If a company has a higher gross profit margin than other companies in the same industry, it means that the company Select one: is more profitable overall. has done a better job at maintaining marks-ups or controlling product costs relative to sales revenue. has higher income from operations. O has done a better job in controlling its operating and other expenses relative to sales revenue. Which of the following bank reconciliation items would not require an adjusting entry on the depositor's books? Select one: bank service charge O outstanding cheques a customer's NSF cheque electronic payment on account Which of the following is not a guideline when choosing between whether to use FIFO or the average cost method? Select one: Use the same cost formula for all inventories of a similar nature and use. Select the cost formula that best matches costs and revenues Report an inventory cost on the statement of financial position that is close to the inventory's recent cost. Choose a cost formula that corresponds as closely as possible to the physical flow of goods. 15 On a bank reconciliation, which of the following would be added to the balance per books? tof Select one: outstanding cheques deposits in transit electronic payment by a customer on account bank service charges Sales taxes that are collected from selling a product or service are recorded as Select one: revenue. an expense. an asset. A liability Bank indebtedness is Select one: O reported as a current liability. reported as part of the current asset cash account. added to cash equivalents. reported as a non-current liability. The following information is available for Labrador Ltd. for calendar 2022: 1,190,000 Cost of goods sold 9,000 Income tax expense Interest expense 30,000 Interest income 38,000 Operating expenses 194,000 Sales $1,406,000 Instructions (a) Use the above information to prepare a multiple-step statement of income for the year ended December 31, 2022 (b) Calculate the gross profit margin and the profit margin for 2022 You are to complete the questions above on appropriate separate document(s). Acceptable formats include word document, excel documents, documents written by hand (scanned and uploaded as a pdf or jpeg file), or any template you have access to that fulfils the question requirements. You will then upload this or 'drag and drop the file(n) into the upload box at the bottom of this question box. 7 Maximum size for new files: 32MB Files MacBook Air