On December 31, 2020, the bookkeeper of ABC Company provided the following information: PARTICULARS Accounts payable, including deposits and advances from customers of P500,000 Notes payable, including note payable to bank due on December 31, 2022 for AMOUNT P2,500,000 3,000,000 P1,000,000 Share dividends payable Serial notes, payable in semi-annual installments of P1,000,000 Accrued interest on serial notes payable 800,000 10,000,000 300,000 Contested environmental assessment possibly to be paid according to legal counsel 600,000 Unearned rent income 100,000 In the December 31, 2020 statement of financial position, how much current liabilities should be reported?

On December 31, 2020, the bookkeeper of ABC Company provided the following information: PARTICULARS Accounts payable, including deposits and advances from customers of P500,000 Notes payable, including note payable to bank due on December 31, 2022 for AMOUNT P2,500,000 3,000,000 P1,000,000 Share dividends payable Serial notes, payable in semi-annual installments of P1,000,000 Accrued interest on serial notes payable 800,000 10,000,000 300,000 Contested environmental assessment possibly to be paid according to legal counsel 600,000 Unearned rent income 100,000 In the December 31, 2020 statement of financial position, how much current liabilities should be reported?

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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