Dec 31, 2022 Dec 31, 2021 Current assets 36,000 28,000 Non-current assets 160,000 112,000 Current liabilities 12,000 4,000 Non-current liabilities 40,000 Additional information: Profit for 2022 was P16,000. No dividends were declared during 2022 and there were no other changes in shareholders' equity. Required: Determine the non-current liabilities as of Dec. 31, 2022.
Dec 31, 2022 Dec 31, 2021 Current assets 36,000 28,000 Non-current assets 160,000 112,000 Current liabilities 12,000 4,000 Non-current liabilities 40,000 Additional information: Profit for 2022 was P16,000. No dividends were declared during 2022 and there were no other changes in shareholders' equity. Required: Determine the non-current liabilities as of Dec. 31, 2022.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...
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ABC Company provided the following information for the year 2022:
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