How much is the total noncurrent liabilities as of January 1, 20x1?
Use the following information for the next three questions:
The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:
Jan. 1, 20x1 Dec. 31, 20x1
Current assets 1,200,000 ?
Noncurrent assets 4,000,000 ?
Current liabilities 900,000 1,000,000
Noncurrent liabilities ? 3,000,000
Additional information:
- COLTISH’s
- Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year.
How much is the total noncurrent liabilities as of January 1, 20x1?
a. 2,600,000
b. 2,800,000
c. 3,200,000
d. 3,400,000
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