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:

On July 1, 2015, Charlie Co. paid $18,000 to Rent-An-Office…

On July 1, 2015, Charlie Co. paid $18,000 to Rent-An-Office for rent covering 18 months from July 2015 through December 2016. What adjusting entry should Charlie Co. record on December 31, 2015? 1)                    Rent Expense                         18,000                                                 Cash                                       18,000   2)                    Rent Expense                         18,000                                                 Prepaid Rent                         18,000   3)                    Prepaid Rent                            6,000                                                 Rent Expense                       6,000   4)                    Rent Expense                           6,000                                                 Prepaid Rent                         6,000