22. The balance shown the bank statement on he July bank statement of Colt Compa

Question

22. The balance shown the bank statement on he July bank statement of Colt Company was $15,500. Afer examining the bank statement and items included with it, the t found: $1.750 Checks outstanding NSF Check Note collected by bank Interest on Note collected 25 $8,700 250 1,500 100 Bank Service Charges A. What should B. Which amounts C. Choose one the balance of cash be on Colt Company's books at the end of July would require a journal entry on Colr's books? Mark them with an X of the items that you identified in B and make the journal entry in good form. are typical transactions for a company. Indicate whether each transaction is classified as an operating, investing or financing activity. a. Sell common stock to investors b. Receive cash from customers. c. Sell services to customers. d. Pay for cost of advertising e. Purchase factory equipment for operations f. Pay dividends in cash to stockholdens rform a vertical analysis on the Income statements of Sports Emporium and All Sports. All Sports 24. Pe Sports Emp 3,200,000 2,050,000 1,150,000 760,000 390,000 8,000 398,000 95,000 2,420,000 Sales COGS Gross profit Operating expenses Operating Income Other income (expense) Income before tax 1,330,000 1,090,000 590,000 500,000 5,000 505,000 130,000 375,000 Income tax expense 303 1000 Net income

Explanation / Answer

As multiple questions have been asked, only one can be answered at a time 22 A Unadjusted balance as per bank 15500 Add: Deposits outstanding 1750 17250 Less: Checks outstanding 8700 Adjusted balance as per books 8550 B NSF check, note collection, interest collection and bank service charges require journal entry C Accounts receivable 250           Cash 250 To record NSF check

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