Amasan Corp. reported the following liabilities on December 31,2020   Accounts Payable 750,000 Short-terms borrowings 400,000 Bonds Payable due 2021 3,000,000 Premium on bonds payable 200,000 Mortgage payable, current portion 500,000 3,500,000 Bank loan, due June 30,2021 1,000,000   The 1,000,000 bank loan was refinanced with a 5-year loan on January 15,2021. The financial statements were issued March 1, 2021.   What amount should be reported as current liabilities on December 21,2020? a.2,650,000 b.5,350,000 c, 850,000 d, 850,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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STATEMENT OF FINANCIAL POSITION

Probem 1-4

Amasan Corp. reported the following liabilities on December 31,2020

 

Accounts Payable 750,000

Short-terms borrowings 400,000

Bonds Payable due 2021 3,000,000

Premium on bonds payable 200,000

Mortgage payable, current portion 500,000 3,500,000

Bank loan, due June 30,2021 1,000,000

 

The 1,000,000 bank loan was refinanced with a 5-year loan on January 15,2021. The financial statements were issued March 1, 2021.

 

What amount should be reported as current liabilities on December 21,2020?

a.2,650,000

b.5,350,000

c, 850,000

d, 850,000

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