Consider the following information from the record of Ornamental Green Garden at the end of the fiscal year, November 30,2020: • Accounts payable Php600,000 • Interest payable Php150,000 • Accrued Exp. payable Php250,000 • Notes payable due 2025 Php700,000 What is the amount of current liability that should be reported by Ornamental Green Garden in its November 30, 2020 fiscal year balance sheet? A P 1,000,000 В P 600,000 C) P 700,000 P 1,700,000
Consider the following information from the record of Ornamental Green Garden at the end of the fiscal year, November 30,2020: • Accounts payable Php600,000 • Interest payable Php150,000 • Accrued Exp. payable Php250,000 • Notes payable due 2025 Php700,000 What is the amount of current liability that should be reported by Ornamental Green Garden in its November 30, 2020 fiscal year balance sheet? A P 1,000,000 В P 600,000 C) P 700,000 P 1,700,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Consider the following information from the record of Ornamental Green Garden at the end of the fiscal year,
November 30,2020:
• Accounts payable Php600,000
• Interest payable Php150,000
• Accrued Exp. payable Php250,000
• Notes payable due 2025 Php700,000
What is the amount of current liability that should be reported by Ornamental Green Garden in its November 30,
2020 fiscal year balance sheet?
A
P 1,000,000
В
P 600,000
C) P 700,000
P 1,700,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F44a90a32-a1cd-47e9-8ebf-769b360a3af1%2F0f3df726-6d91-4547-9141-3fcbbab4aaeb%2Ft94w9ke_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the following information from the record of Ornamental Green Garden at the end of the fiscal year,
November 30,2020:
• Accounts payable Php600,000
• Interest payable Php150,000
• Accrued Exp. payable Php250,000
• Notes payable due 2025 Php700,000
What is the amount of current liability that should be reported by Ornamental Green Garden in its November 30,
2020 fiscal year balance sheet?
A
P 1,000,000
В
P 600,000
C) P 700,000
P 1,700,000
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