On December 31, 2001, the bookkeeper of Glory Corporation provided the following information: Accounts payable, including deposits and advances from customers of P25,000 Notes payable, including note payable to bank on December 31, 2003 of P50,000 P125,000 150,000 10,000 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 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
On December 31, 2001, the bookkeeper of Glory Corporation provided the following information: Accounts payable, including deposits and advances from customers of P25,000 Notes payable, including note payable to bank on December 31, 2003 of P50,000 P125,000 150,000 10,000 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 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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 14RE: On June 1, Phillips Corporation sold, with recourse, a note receivable from a customer to a bank....
Related questions
Question
The amount of noncurrent liabilities on December 31, 2001 is:
P455,000
P480,000
P450,000
P485,000
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