1)Grey Co paid $2,448 cash on September 30 to rent an arena for the months of October, November and December. Grey prepares monthly financial statements.

Rent expense reflected on the November income statement will be $_________

2) Bailey Corporation, prepares the following adjustments required at the end of the month on July 31: Before these adjustments, Bailey had assets of $70,000, Liabilities of $50,000 and Stockholders equity of $20,000. Here are the adjustments made:

a. Received a $724 utility bill for electricity usage in July to be paid in August.

b. Owed wages to 4 employees who worked four days at $80 each per day at the end of July. The company will pay employees at the end of the first week of August.

c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $1,800 for one full year of interest. No interest has been recorded yet.

After the adjustments stockholders equity on 7/31 will be $________

3)On August 1, 2018 Risky Ventures paid $2,040 for insurance coverage for twelve months of coverage beginning August 1. On December 31, Risky Ventures will report what dollar amount related to insurance on the Balance Sheet? $______

4)Assume Bella Donnas General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $1,920. The company paid $244 in transportation cost to National Trucking to deliver the merchandise to Bella Donna. Bella Donna immediately returned goods to American Wholesaling costing $550, and then took advantage of American Wholesalings 2/10, n/30 purchase discount.

At the end of the period the inventory account will have a balance of $_________