The Following Amounts Are Taken from the Balance Sheets of Baltic

question 171

Essay

The following amounts are taken from the balance sheets of Baltic Corporation:
$$\begin{array} { | l | r | r | } \hline & \text { December } 31,2010 & \text { December } 31,2009 \\\hline & & \\\text { Accrued liabilities } & 44,000 & \$ 37,500 \\\text { Prepaid expenses } & 14,000 & 18,500 \\\hline\end{array}$$ During 2010,expenses related to accrued liabilities were $30,500,and expenses related to prepaid expenses were $21,000.
a. Compute cash payments related to accrued liabilities.
b. Compute cash payments related to prepaid expenses.

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Definitions:

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A planned residential community, often including various amenities, constructed by developers and divided into individual properties for sale.

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