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Corinth Company has the following accounts included in its December 31 trial balance: FA@FVTPL P1,000,000 FA@FVTOCI 2,000,000 FA@AC 3,000,000 Investment in associate 4,000,000 Interest rate swap receivable 100,000 Forward contract receivable 200,000 Futures contract receivable 250,000 Call option 150,000 Petty cash fund 50,000 Payroll cash fund 500,000 Dividend cash fund 200,000 Interest fund 150,000 Sinking fund 1,100,000 Plant expansion fund 2,000,000 Stock redemption fund 1,800,000 Contingency fund 1,000,000 Insurance fund 1,000,000 Investment property 4,000,000 Prepaid rent 200,000 Cash surrender value of life insurance 100,000 How much is the total amount normally considered as noncurrent investments?

Corinth Company has the following accounts included in its December 31 trial balance: FA@FVTPL P1,000,000 FA@FVTOCI 2,000,000 FA@AC 3,000,000 Investment in associate 4,000,000 Interest rate swap receivable 100,000 Forward contract receivable 200,000 Futures contract receivable 250,000 Call option 150,000 Petty cash fund 50,000 Payroll cash fund 500,000 Dividend cash fund 200,000 Interest fund 150,000 Sinking fund 1,100,000 Plant expansion fund 2,000,000 Stock redemption fund 1,800,000 Contingency fund 1,000,000 Insurance fund 1,000,000 Investment property 4,000,000 Prepaid rent 200,000 Cash surrender value of life insurance 100,000 How much is the total amount normally considered as noncurrent investments?

FINANCIAL ACCOUNTING
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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Corinth Company has the following accounts included in its December 31 trial balance: FA@FVTPL P1,000,000 FA@FVTOCI 2,000,000 FA@AC 3,000,000 Investment in associate 4,000,000 Interest rate swap receivable 100,000 Forward contract receivable 200,000 Futures contract receivable 250,000 Call option 150,000 Petty cash fund 50,000 Payroll cash fund 500,000 Dividend cash fund 200,000 Interest fund 150,000 Sinking fund 1,100,000 Plant expansion fund 2,000,000 Stock redemption fund 1,800,000 Contingency fund 1,000,000 Insurance fund 1,000,000 Investment property 4,000,000 Prepaid rent 200,000 Cash surrender value of life insurance 100,000 How much is the total amount normally considered as noncurrent investments?
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