The Comparative Statements of Financial Positions of Savoy Company for December

question 40

Essay

The comparative statements of financial positions of Savoy Company for December 31, 20X1 and 20X2, reported the following selected amounts: $$\begin{array} { | l | r | r | } \hline & 20 X 1 & 20 X2 \\\hline \text { Assets: Office supplies inventory } & \$ 2,000 & \$ 800 \\\hline \text { Liabilities: Unearned rent revenue } & 11,000 & 10,500 \\\hline\end{array}$$ The 20X2 income statement reported the following: $$\begin{array} { | l | r | } \hline \text { Revenues: Rent revenue } & \$ 12,000 \\\hline \text { Expenses: Office supplies expense } & 15,000 \\\hline\end{array}$$
A. The total amount of office supplies purchased during 20X2 was $___________.
B. The total amount of rent collected during 20X2 was $____________.
C. In what section of the statement of cash flows would the payments for office supplies appear?
D. In what section of the statement of cash flows would the collection for rents appear?

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