4. The assets of J&R Associates consist entirely of Current Assets and net plant  and equipment.     The firm has total assets  of P2,500,000, and  and net plant equipment of P2,000,000. It has     notes payable of  P150,000, long-term debt of  P750,000, and total common equity of P1,500,000.     The firm does have accounts payable  and accruals  on its statement of financial position. The     firm only finances  with debt and common equity, so it has no  preferred stock on its statement of financial position. What is the balance  of current liabilities on the firm's statement of financial position?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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4. The assets of J&R Associates consist entirely of Current Assets and net plant  and equipment.
    The firm has total assets  of P2,500,000, and  and net plant equipment of P2,000,000. It has
    notes payable of  P150,000, long-term debt of  P750,000, and total common equity of P1,500,000.
    The firm does have accounts payable  and accruals  on its statement of financial position. The
    firm only finances  with debt and common equity, so it has no  preferred stock on its statement of financial position.

What is the balance  of current liabilities on the firm's statement of financial position?

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