On December 31, 2019, the bookkeeper of Glare Company provided the following information. Accounts payable, including deposits and advances from customer of P250,000 Notes payable, including note payable to bank on December 31, 2021 of P500,000 Stock dividend payable 1,250,000 1,500,000 400,000 200,000 5,000,000 Credit balances in customers account Serial bonds payable in semiannual installment of P500,000 Accrued interest on bonds payable Contested BIR tax assessment-possible obligation Unearned rent income 150,000 300,000 100,000 Required: Compute the total current liabilities on December 31, 2019.

On December 31, 2019, the bookkeeper of Glare Company provided the following information. Accounts payable, including deposits and advances from customer of P250,000 Notes payable, including note payable to bank on December 31, 2021 of P500,000 Stock dividend payable 1,250,000 1,500,000 400,000 200,000 5,000,000 Credit balances in customers account Serial bonds payable in semiannual installment of P500,000 Accrued interest on bonds payable Contested BIR tax assessment-possible obligation Unearned rent income 150,000 300,000 100,000 Required: Compute the total current liabilities on December 31, 2019.

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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