On December 31, 2021, what total amount should be reported as current liabilities?a.) 1,066,000b.) 1,077,000c.) 1,004,000d.) 1,146,000e.) none of the above + Rosas Company provided the following information on December 31, 2021:Accrued utilities expensesUnearned advertising incomeSerial bonds payable in semi-annual installment of5,00020,0002,000,000P500,00014% Notes payable, due 2022Deferred tax liabilityDebit balances in suppliers' accounts30,00062,0007,000Credit balances of customers' accounts11,000Mortgage payable100,000

Calculation of Current Liabilities Current liabilities = Accrued Liabilities expense + Unearned…

Answered: On December 31, 2021, what total amount…

On December 31, 2021, what total amount should be reported as current liabilities? a.) 1,066,000 b.) 1,077,000 c.) 1,004,000 d.) 1,146,000 e.) none of the above

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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Question

On December 31, 2021, what total amount should be reported as current liabilities?

a.) 1,066,000

b.) 1,077,000

c.) 1,004,000

d.) 1,146,000

e.) none of the above

+ Rosas Company provided the following information on December 31, 2021:
Accrued utilities expenses
Unearned advertising income
Serial bonds payable in semi-annual installment of
5,000
20,000
2,000,000
P500,000
14% Notes payable, due 2022
Deferred tax liability
Debit balances in suppliers' accounts
30,000
62,000
7,000
Credit balances of customers' accounts
11,000
Mortgage payable
100,000

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