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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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