Accounts payable, after deducting debit balances in supplier’s Accounts amounting to P22,500 (accounts payable included Non-trade liabilities of P32,500) P 105,000 Accrued expenses 15,000 Credit balances of customers’ accounts 13,500 Stock dividends payable 70,000 Claims for increase in wages and allowances by employees of The company, covered in a pending lawsuit 125,000 Estimated liabilities for premiums 60,000 How much should be presented as total current liabilities in the statement of financial position? P 6,000 P 168,500 P 183,500 P 216,000
Accounts payable, after deducting debit balances in supplier’s Accounts amounting to P22,500 (accounts payable included Non-trade liabilities of P32,500) P 105,000 Accrued expenses 15,000 Credit balances of customers’ accounts 13,500 Stock dividends payable 70,000 Claims for increase in wages and allowances by employees of The company, covered in a pending lawsuit 125,000 Estimated liabilities for premiums 60,000 How much should be presented as total current liabilities in the statement of financial position? P 6,000 P 168,500 P 183,500 P 216,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounts payable, after deducting debit balances in supplier’s
Accounts amounting to P22,500 (accounts payable included
Non-trade liabilities of P32,500) P 105,000
Accrued expenses 15,000
Credit balances of customers’ accounts 13,500
Stock dividends payable 70,000
Claims for increase in wages and allowances by employees of
The company, covered in a pending lawsuit 125,000
Estimated liabilities for premiums 60,000
How much should be presented as total current liabilities in the
- P 6,000
- P 168,500
- P 183,500
- P 216,000
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