The Comparative Balance Sheets of Titan Company for the Years

question 104

Short Answer

The comparative balance sheets of Titan Company for the years ended December 31,2010 and 2011,reported the following selected amounts:


$\begin{array}{l}\begin{array} { l } \\\text { Assets: Office supplies inventory }\\\text { Unearned rent revenue }\\\end{array}\begin{array} { l } 2010 & 2011\\\hline \$ 2,000 & \$ 800 \\11,000 & 10,500\end{array}\end{array}$



The 2011 income statement reported the following: Rent revenue $\quad$$\quad$$\quad$$\quad$$\quad$ $ 12,000
Office supplies expense $\quad$$\quad$ 15,000 Requirements:
A.Calculate the total amount of office supplies purchased during 2011.
B.Calculate the total amount of rent collected during 2011.
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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