Accounts payable, after deducting debit balance in suppliers' accounts amounting to 200,000 and postdated checks or 100,000............... 8,000,0000 Bonds payable............... 2,000,000 Premium on Bonds Payable............... 200,000 Mortgage Payable............... 1,700,000 Share Dividend Payable............... 1,500,000 Credit on customers' account............... 1,000,000 Premium payable............... 1,200,000 Deferred tax liability............... 400,000 Deferred revenue............... 350,000 Accrued expenses............... 300,000 The deffered tax liability is based on temporary differences that will reverse in 2020. What is the total amount of current liabilities in the statement of financial position?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Viy Company disclosed the following information about liabilities at December 31, 2017.

Accounts payable, after deducting debit balance in suppliers' accounts amounting to 200,000 and postdated checks or 100,000............... 8,000,0000

Bonds payable............... 2,000,000

Premium on Bonds Payable............... 200,000

Mortgage Payable............... 1,700,000

Share Dividend Payable............... 1,500,000

Credit on customers' account............... 1,000,000

Premium payable............... 1,200,000

Deferred tax liability............... 400,000

Deferred revenue............... 350,000

Accrued expenses............... 300,000

 

The deffered tax liability is based on temporary differences that will reverse in 2020. 

 

What is the total amount of current liabilities in the statement of financial position?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education