disclosed the following information: Accounts payable, after deducting debit balance in Suppliers’ accounts amounting to P 100,000…………P 4,000,000 Accrued expenses………………………………………….. 1,500,000 Credit balances of customers’ accounts………………… 500,000 Share dividends distributable……………………………. 1,000,000 Claims for increase in wages and allowances by employees of the entity covered in a pending lawsuit…………………………………………………….. 400,000 Estimated expenses in redeeming prize coupons…….. 600,000 What amount should be reported as total current liabilities?
1.
- disclosed the following information:
Accounts payable, after deducting debit balance in
Suppliers’ accounts amounting to P 100,000…………P 4,000,000
Accrued expenses………………………………………….. 1,500,000
Credit balances of customers’ accounts………………… 500,000
Share dividends distributable……………………………. 1,000,000
Claims for increase in wages and allowances by
employees of the entity covered in a pending
lawsuit…………………………………………………….. 400,000
Estimated expenses in redeeming prize coupons…….. 600,000
What amount should be reported as total current liabilities?
2,
- provided you the following information on December 31, 2021:
- Accounts payable amounted to P 500,000 and accrued expenses totalled P 300,000 on December 31, 2021.
- On December 31, 2021, the entity declared a cash dividend of P 7.00 per share on 100,000 outstanding shares payable on January 15, 2022.
- On July 1, 2021, the entity issued P 5,000,000, 8% bonds for P 4,400,000 to yield 10%. The bonds mature on June 30, 2026 and pays interest every June 30.
- The pre-tax financial income was P 8,500,000 and taxable income was P 6,000,000. The difference is due to P 1,000,000 permanent difference and P 1,500,000 taxable temporary difference to reverse in 2022.
The income tax rate is 25%. The entity made quarterly income tax payments during the year amounting to P 1,000,000
What is the amount of current liabilities to be shown in the
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