Accounts payable per general ledger control amounted to P5,440,000, net of P250,000 debit balances in suppliers' accounts. The unpaid voucher file included the following items that not had been recorded as of December 31, 2021: e) A Company - P242,000 merchandise shipped on December 31, 2021, FOB destination, received on January 10, 2022 f) B, Inc. - P192,000 merchandise shipped on December 26, 2021, FOB shipping point, received on January 16, 2022 g) C Super Services - P112,500 janitorial services for the three-month period ending January 31, 2022 h) MERALCO-P67,200 electric bill covering the period December 16, 2021 to January 15, 2022 On December 28, 2021, a supplier authorized Sonic to return goods billed at P160,000 and shipped on December 20, 2021. The goods were returned by Sonic on December, 28, 2021, but the P160,000 credit memo was not received until January 6, 2022 What is the total current liabilities?
Accounts payable per general ledger control amounted to P5,440,000, net of P250,000 debit balances in suppliers' accounts. The unpaid voucher file included the following items that not had been recorded as of December 31, 2021: e) A Company - P242,000 merchandise shipped on December 31, 2021, FOB destination, received on January 10, 2022 f) B, Inc. - P192,000 merchandise shipped on December 26, 2021, FOB shipping point, received on January 16, 2022 g) C Super Services - P112,500 janitorial services for the three-month period ending January 31, 2022 h) MERALCO-P67,200 electric bill covering the period December 16, 2021 to January 15, 2022 On December 28, 2021, a supplier authorized Sonic to return goods billed at P160,000 and shipped on December 20, 2021. The goods were returned by Sonic on December, 28, 2021, but the P160,000 credit memo was not received until January 6, 2022 What is the total current liabilities?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounts payable per general ledger control amounted to P5,440,000, net of P250,000 debit balances in suppliers' accounts. The unpaid voucher file included the following items that not had been recorded as of December 31, 2021:
e) A Company - P242,000 merchandise shipped on December 31, 2021, FOB destination, received on January 10, 2022
f) B, Inc. - P192,000 merchandise shipped on December 26, 2021, FOB shipping point, received on January 16, 2022
g) C Super Services - P112,500 janitorial services for the three-month period ending January 31, 2022
h) MERALCO-P67,200 electric bill covering the period December 16, 2021 to January 15, 2022
On December 28, 2021, a supplier authorized Sonic to return goods billed at P160,000 and shipped on December 20, 2021. The goods were returned by Sonic on December, 28, 2021, but the P160,000 credit memo was not received until January 6, 2022 What is the total current liabilities?
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