4.- 5 Bren provided the following selected informationCash in bank, net of bank overdraft of 200,000Customers' account with credit balanceEstimated premium liabilityBonds payable, (payable annually for P400,000starting December 31, 2022)Notes payable, (60% of which will mature after 2years)Accrued expensesDeferred tax liabilityShare dividends payableat December 31, 20600,000200,000300,0001,600,000900,00050,000350,000250,000100,000150,000On December 31, 2021, how much is the total amount to be reported as4. Current liabilitiesa.) 1,610,000 b.) 1,860,000 c.) 1,510,000 d.) 1,790,0005.Noncurrent liabilitiesContainer's depositAdvances to suppliera.) 2,090,000 b.) 1,290,000 c.) 1,390,000 d.) 2,110,000

Current liabilities are obligations that are expected to be settled within one year or within the…

4. - 5 Bren provided the following selected information Cash in bank, net of bank overdraft of 200,000 Customers' account with credit balance Estimated premium liability at December 31, 600,000 200,000 300,000 1,600,000 900,000 50,000 350,000 250,000 100,000 150,000 On December 31, 2021, how much is the total amount to be reported 4. Current liabilities a.) 1,610,000 b.) 1,860,000 c.) 1,510,000 d.) 1,790,000 5.Noncurrent liabilities a.) 2,090,000 b.) 1,290,000 c.) 1,390,000 d.) 2,110,000 Bonds payable, (payable annually for P400,000 starting December 31, 2022) Notes payable, (60% of which will mature after 2 years) Accrued expenses Deferred tax liability Share dividends payable Container's deposit Advances to supplier

4. - 5 Bren provided the following selected information Cash in bank, net of bank overdraft of 200,000 Customers' account with credit balance Estimated premium liability at December 31, 600,000 200,000 300,000 1,600,000 900,000 50,000 350,000 250,000 100,000 150,000 On December 31, 2021, how much is the total amount to be reported 4. Current liabilities a.) 1,610,000 b.) 1,860,000 c.) 1,510,000 d.) 1,790,000 5.Noncurrent liabilities a.) 2,090,000 b.) 1,290,000 c.) 1,390,000 d.) 2,110,000 Bonds payable, (payable annually for P400,000 starting December 31, 2022) Notes payable, (60% of which will mature after 2 years) Accrued expenses Deferred tax liability Share dividends payable Container's deposit Advances to supplier

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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Requlred Informetion [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 ৪9, 938 88,970 88,470 88,520 88,370 Date Other Dec. 1 $ 7,620 558 $28, 000 13,900 11 17 23 36, e00 26 960 30 NSF* $300 50 19, 200 19, e00 31 Interest earned 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, e00 Deposits Dec. 11 23 Checks written during December: 7,620 28, 800 36, ee0 19,e00 13,e00 550 30 13,900 960 31 150 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Requlred: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $36,000 $19,000 $13,000 2. [dentify and list the outstanding checks at the end of December (Select all that apply.) $7,620 $550 $13,900 $880 $150 $19,200 $4,500 OOUI
6-Net increase in cash and cash equivalent is OMR 7,000; Bank overdraft in the beginning of the period OMR 12,000.Determine the ending Bank balance? a. Bank overdraft OMR 19,000 b. Bank overdraft OMR 5,000 c. Bank balance OMR 12,000 d. None of the option is correctvv
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The data below are from the records of DUSK, INC. on December 31, 2019. The amount to be shown as total current liabilities on Dusk's statement of financial position at December 31, 2019, is Accounts payable Cash balance DEF Bank Cash overdraft with ABS Bank Customers accounts with credit balances Didends in arrears on preference shares P680.000 1.240.000 80 000 25.000 400.000 Employees income tax payable Estimated warranty payable 100.000 50 000 Estimated premium claims outstanding Income tax payable Notes payable (issued in 2019 maturing in 20 semi-annual installments beginning on April 1. 2020) Salaries payable 90.000 400.000 4,000,000 400,000 Your answer
Prepare a bank reconcilation statement as of May 30, 2018
Topic: Cash and Cash Equivalents / Intermediate Accounting 1
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30.ABC Corp had the following information: Cash on hand and in bank, P2,500,000 Cash restricted for bonds payable due in 2 years, P1,000,000 Time certificate of deposit, P3,000,000 Savings deposit set aside for dividend payment in 2 years, P500,000 The total amount to be reported as cash and cash equivalent is; 3,000,000 5,500,000 6,500,000 7,000,000
Prepare a bank reconciliation statement
As on 31 May 2020 the deposits awaiting clearance is RO15,240 and cheques yet to be presented for payment is RO17,590; while the bank balance as recorded in the Cash book was RO 5,480. How much should be the bank balance as on 31 May 2020 as per bank statement? a. RO 6130 b. RO 6130 Overdraft c. RO 7830 d. RO 7830 overdraft -fast-
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3. From the following information relating to Bank Şobar, prepare Income Statement for the year ended 31st March 2020. Show the calculations separately. (PREPARED SHEDULES) Particulars Interest on overdraft Establishment Interest on bill discounted R.O 550,000 70,000 300,000 Rent Salaries 25,000 15,000 Interest on savings Printing and stationery Interest on fixed deposits Commission Interest on loan Interest on Borrowing Interest on cash credit Administration's fees Postage and telegram Maintenance expenses General Reserve 80,000 5,900 55,000 90,000 45,000 42,000 275,000 7,000 2,500 8,400 50,000 30.000 Loan Additional information: 1. Provide OMR 50,000 for doubtful debts 2. Provide OMR 120,000 for taxation 3. Rebate on bills discounted on 31-03-20 OMR 60,000 4. Dividend proposed to pay OMR 30,000 5. Last year Profit OMR 100,000