An Analysis of Nice Company's liabilities disclosed the following: Accounts payable, after deducting debit balances in suppliers' accounts amounting to P 22,500 ( accounts payable include non- trade liabilities of P 32,500). P 105,000 Accrued Expenses 15,000 Credit balances of customers' account 13,500 70,000 Stock dividends payable 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?

An Analysis of Nice Company's liabilities disclosed the following: Accounts payable, after deducting debit balances in suppliers' accounts amounting to P 22,500 ( accounts payable include non- trade liabilities of P 32,500). P 105,000 Accrued Expenses 15,000 Credit balances of customers' account 13,500 70,000 Stock dividends payable 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?

Name: A.P185,000B.216,000C.168,500D.183,500 An Analysis of Nice Company's li
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Description: A.P185,000B.216,000C.168,500D.183,500 An Analysis of Nice Company's liabilities disclosed the following:Accounts payable, after deducting debit balances insuppliers' accounts amounting to P 22,500( accounts payable include non- trade liabilities ofP

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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