he following are information from the books of Kwek-Kwek Malls and Tickets Company as of December 31, 2021: • Signing of employment contract by a new employee on April 1, 2021. Her salary is P25,000 a month. • The company declared P50,000 cash dividends on cumulative preference shares. • Declared P100,000 share dividends to ordinary shareholders. • Declared a property dividend worth P80,000 to ordinary shareholders. • Receipt of goods to be sold for the account of the consignor, P20,000. • Withholding taxes on employee’s compensation, P90,000. • Receipt of land with a fair value of P600,000 from the city government of Pangasinan. Based on the agreement, the company needs to set up a branch on the site. • Sold refundable tickets for a concert to be held on April 9, 2022, P100,000. How much are the total liabilities to be recognized by the company?
he following are information from the books of Kwek-Kwek Malls and Tickets Company as of December 31, 2021:
• Signing of employment contract by a new employee on April 1, 2021. Her salary is P25,000 a month.
• The company declared P50,000 cash dividends on cumulative
• Declared P100,000 share dividends to ordinary shareholders.
• Declared a property dividend worth P80,000 to ordinary shareholders.
• Receipt of goods to be sold for the account of the consignor, P20,000.
• Withholding taxes on employee’s compensation, P90,000.
• Receipt of land with a fair value of P600,000 from the city government of Pangasinan. Based on the agreement, the company needs to set up a branch on the site.
• Sold refundable tickets for a concert to be held on April 9, 2022, P100,000.
How much are the total liabilities to be recognized by the company?
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