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E5.8 (LO1, 2) (Current ve. Non-Current Llabilities) Pascal Corporation is preparing Its December 31, 2019, statement of financial position. The following items may be reported as either a current or non-current liability. 1. On December 15, 2019, Pascal declareda cash dividend of $2.00 per share to shareholders of record on December 31, The dividend is payable on January 15, 2020. Pascal has issued 1.000.000 ordinary shares of which 50,000 shares are held in treasury. 2. AL December 31, bonds payable of $100.000,000 are outstanding The bonds pay 8% interest every September 30 and mature in installments of $25,000,000 every September 30, beginning September 30 2020 3. Al December 31, 2018, customer advances were $12.000 000 During 2019. Pascal collected $30.000,000 of customer advances advances of $25.000.000 represent performance obligations, which have been satisfed instructions For each item above. indicatle the dollar amounts to be reported as a current iability and as a non-current liability, if any

E5.8 (LO1, 2) (Current ve. Non-Current Llabilities) Pascal Corporation is preparing Its December 31, 2019, statement of financial position. The following items may be reported as either a current or non-current liability. 1. On December 15, 2019, Pascal declareda cash dividend of $2.00 per share to shareholders of record on December 31, The dividend is payable on January 15, 2020. Pascal has issued 1.000.000 ordinary shares of which 50,000 shares are held in treasury. 2. AL December 31, bonds payable of $100.000,000 are outstanding The bonds pay 8% interest every September 30 and mature in installments of $25,000,000 every September 30, beginning September 30 2020 3. Al December 31, 2018, customer advances were $12.000 000 During 2019. Pascal collected $30.000,000 of customer advances advances of $25.000.000 represent performance obligations, which have been satisfed instructions For each item above. indicatle the dollar amounts to be reported as a current iability and as a non-current liability, if any

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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Dashboard VitalSource Booksh... Spotify-Web Pla E5.8 (LO1, 2) (Current vs. Non-Current Llabilides) Pascal Corporation is preparing Its December 31, 2019, statement of financial position. The following items may be reported as either a current or non-current liability 1. On December 15, 2019, Pascal declared a cash dividend of $2.00 per share to shareholders of record on Decenber 31, The dividend is payable on January 15, 2020 Pascal has ssued 1.000,000 ordinary shares of which 50,000 shares are held in treasury. 2. AL December 31, bonds payable of $100.000 000 are outstanding The bonds pay 8% interest every September 30 and mature in instaliments of $25,000,000 every September 30, beginning September 30, 2020. 3. Al December 31, 2018, customer advances were $12 000.000 During 2019. Pascal collected $30.000,000 of customer advances advances of $25.000.000 represent performance obligations, which have been satisfied. Instructions For each item above. indicate the dollar amounts to be reported as a current liability and as a non-current liability, if any
Transcribed Image Text:Dashboard VitalSource Booksh... Spotify-Web Pla E5.8 (LO1, 2) (Current vs. Non-Current Llabilides) Pascal Corporation is preparing Its December 31, 2019, statement of financial position. The following items may be reported as either a current or non-current liability 1. On December 15, 2019, Pascal declared a cash dividend of $2.00 per share to shareholders of record on Decenber 31, The dividend is payable on January 15, 2020 Pascal has ssued 1.000,000 ordinary shares of which 50,000 shares are held in treasury. 2. AL December 31, bonds payable of $100.000 000 are outstanding The bonds pay 8% interest every September 30 and mature in instaliments of $25,000,000 every September 30, beginning September 30, 2020. 3. Al December 31, 2018, customer advances were $12 000.000 During 2019. Pascal collected $30.000,000 of customer advances advances of $25.000.000 represent performance obligations, which have been satisfied. Instructions For each item above. indicate the dollar amounts to be reported as a current liability and as a non-current liability, if any
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