Keeper Co. has the following liabilities on December 31, 20x1: Trade and other payables Note payable (issued 3 yrs. ago, maturing on Dec. 31, 20x2) Serial bonds payable (next annual principal installment of 2,000,000 6,000,000 P800,000 due July 1,20x2) 5,600,000 - February 28, 20x2, Keeper Co. entered into a non-cancelable reement with the lender to refinance the note payable on a long- m basis, on readily determinable terms that have not yet been plemented. Keeper Co.'s 20x1 financial statements were horized for issue on March 31, 20x2. What amount of current ilities should Keeper Co, report in its 20x1 statement of uncial position? a, 2,000,000 b. 2,800,000 c. 8,800,000 d. 13,600,000
Keeper Co. has the following liabilities on December 31, 20x1: Trade and other payables Note payable (issued 3 yrs. ago, maturing on Dec. 31, 20x2) Serial bonds payable (next annual principal installment of 2,000,000 6,000,000 P800,000 due July 1,20x2) 5,600,000 - February 28, 20x2, Keeper Co. entered into a non-cancelable reement with the lender to refinance the note payable on a long- m basis, on readily determinable terms that have not yet been plemented. Keeper Co.'s 20x1 financial statements were horized for issue on March 31, 20x2. What amount of current ilities should Keeper Co, report in its 20x1 statement of uncial position? a, 2,000,000 b. 2,800,000 c. 8,800,000 d. 13,600,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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