The amount of current liabilities on December 31, 2001 is:P455,000480,000450,000485, 000The amount of noncurrent liabilities on December 31, 2001 is:455,000480,000450,000485,000 On December 31, 2001, the bookkeeper of Glory Corporation provided the following information:Accounts payable, including deposits and advances fromcustomers of P25,000Notes payable, including note payable to bank onDecember 31, 2003 of P50,000P125,000150,00010,00080,000200,00020,000Serial bonds payable in semiannual installment of P50,000_ 500,00015,00070,00030,0005,000Acceptances payableLiabilities under trust receiptsStock dividends payableCredit balances in customers' accountsAccrued interest on bonds payableDividends in arrears on preferred stockContested BIR assessmentUnearned rent income

Current & Non-Current liabilities Current liabilities are short-term liabilities which are…

On December 31, 2001, the bookkeeper of Glory Corporation provided the following information Accounts payable, including deposits and advances from customers of P25,000 P125,000 Notes payable, including note payable to bank on December 31, 2003 of P50,000 150,000 10,000 80,000 200,000 20,000 Serial bonds payable in semiannual installment of P50,000_500,000 15,000 70,000 30,000 5,000 Acceptances payable Liabilities under trust receipts Stock dividends payable Credit balances in customers' accounts Accrued interest on bonds payable Dividends in arrears on preferred stock Contested BIR assessment Unearned rent income

On December 31, 2001, the bookkeeper of Glory Corporation provided the following information Accounts payable, including deposits and advances from customers of P25,000 P125,000 Notes payable, including note payable to bank on December 31, 2003 of P50,000 150,000 10,000 80,000 200,000 20,000 Serial bonds payable in semiannual installment of P50,000_500,000 15,000 70,000 30,000 5,000 Acceptances payable Liabilities under trust receipts Stock dividends payable Credit balances in customers' accounts Accrued interest on bonds payable Dividends in arrears on preferred stock Contested BIR assessment Unearned rent income

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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