1 On December 31, 2021, what total amount should be reported as current iabilities? 14% Notes payable, due 2023 Accrued rent expenses Credit balances of customers' accounts Debit balances in suppliers' accounts Estimated premium liability Mortgage payable Serial bonds payable in semi-annual installment of P200,000 Unearned subscription income 30,000 5,000 11,000 7,000 62,000 100,000 2,000,000 20,000 O A. 498.000 O B. 505.000 C. 198.000 D. 578.000 ) E. NONE OF THEM

1 On December 31, 2021, what total amount should be reported as current iabilities? 14% Notes payable, due 2023 Accrued rent expenses Credit balances of customers' accounts Debit balances in suppliers' accounts Estimated premium liability Mortgage payable Serial bonds payable in semi-annual installment of P200,000 Unearned subscription income 30,000 5,000 11,000 7,000 62,000 100,000 2,000,000 20,000 O A. 498.000 O B. 505.000 C. 198.000 D. 578.000 ) E. NONE OF THEM

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Debenture Valuation

A debenture is a private and long-term debt instrument issued by financial, non-financial institutions, governments, or corporations. A debenture is classified as a type of bond, where the instrument carries a fixed rate of interest, commonly known as the ‘coupon rate.’ Debentures are documented in an indenture, clearly specifying the type of debenture, the rate and method of interest computation, and maturity date.

Note Valuation

It is the process to determine the value or worth of an asset, liability, debt of the company. It can be determined by many processes or techniques. Many factors can impact the valuation of an asset, liability, or the company, like:

Question

1. On December 31, 2021, what total amount should be reported as current
liabilities?*
14% Notes payable, due 2023
Accrued rent expenses
Credit balances of customers' accounts
Debit balances in suppliers' accounts
Estimated premium liability
Mortgage payable
Serial bonds payable in semi-annual installment of
P200,000
Unearned subscription income
30,000
5,000
11,000
7,000
62,000
100,000
2,000,000
20,000
A. 498,000
B. 505,000
C. 198,000
D. 578,000
E. NONE OF THEM

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