In the month of November Gavin Company Inc. wrote checks in…

In the month of November Gavin Company Inc. wrote checks in the amount of $9,250. In December, checks in the amount of $12, 658 were written. In November, $8,468 of these checks were presented to the bank for payment, and $10,883 in December. What is the amount of outstanding checks at the end of December?

Crawford Company started the year with $30,000 in its Common…

Crawford Company started the year with $30,000 in its Common Stock account and a credit balance in Retained Earnings of $12,000. During the year, the company earned net income of $24,000 and declared and paid $10,000 of dividends. In addition, the company sold additional common stock amounting to $14,000. As a result, the amount of its retained earnings at the end of the year would be: