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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

The Following Amounts Are Taken from the Balance Sheets of Baltic