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EM 3: e arcount balances

EM 3: e arcount balances

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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PROBLEM 3: MULTIPLE CHOICE - COMPUTATIONAL 1. The account balances of Boast Co. include the following: 14,000 PhilHealth cont. payable 12,000 Cash dividends 2,000 Share dividends payable 30,000 Lease liability 10,000 Bonds payable 6,000 Premium on bonds payable 20,000 4,000 Security deposit 12,000 8,000 6,000 70,000 240,000 Notes payable Interest payable payable Unearned revenue Rent payable Warranty obligation Discount on notes receivable Income taxes payable Obligation to deliver a fixed number of own shares worth 100,000 a fixed amount of cash 4,000 Redeemable preference 28,00 shares issued Ordinary shares issued 20,000 Constructive obligation 22,000 How much is Boast Co.'s total financial liabilities? a. 426,000 b. 438,000 c. 444,000 d. 538,000
Transcribed Image Text:PROBLEM 3: MULTIPLE CHOICE - COMPUTATIONAL 1. The account balances of Boast Co. include the following: 14,000 PhilHealth cont. payable 12,000 Cash dividends 2,000 Share dividends payable 30,000 Lease liability 10,000 Bonds payable 6,000 Premium on bonds payable 20,000 4,000 Security deposit 12,000 8,000 6,000 70,000 240,000 Notes payable Interest payable payable Unearned revenue Rent payable Warranty obligation Discount on notes receivable Income taxes payable Obligation to deliver a fixed number of own shares worth 100,000 a fixed amount of cash 4,000 Redeemable preference 28,00 shares issued Ordinary shares issued 20,000 Constructive obligation 22,000 How much is Boast Co.'s total financial liabilities? a. 426,000 b. 438,000 c. 444,000 d. 538,000
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