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On December 31, 2021, Yohan Company provided the following information: Accounts Payable, Including deposits and advances from customer of P250,000    1,250, 000 Notes payable, including note payable to bank due on December 31, 2022 of 500,000       1.500,000 Share dividend payable 400,000 Credit balances in customer's account 200,000 Serial bonds payable in semi annual installment of 500,000    5,000,000  Accrued interest on bonds payable  150,000 Contested BIR tax assessment - possible obligation 300,000 Unearned rent income  100,000 Required: Compute the total current liabilities on December 31,2021

On December 31, 2021, Yohan Company provided the following information: Accounts Payable, Including deposits and advances from customer of P250,000    1,250, 000 Notes payable, including note payable to bank due on December 31, 2022 of 500,000       1.500,000 Share dividend payable 400,000 Credit balances in customer's account 200,000 Serial bonds payable in semi annual installment of 500,000    5,000,000  Accrued interest on bonds payable  150,000 Contested BIR tax assessment - possible obligation 300,000 Unearned rent income  100,000 Required: Compute the total current liabilities on December 31,2021

FINANCIAL ACCOUNTING
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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On December 31, 2021, Yohan Company provided the following information:

Accounts Payable, Including deposits and advances from customer of P250,000    1,250, 000

Notes payable, including note payable to bank due on December 31, 2022 of 500,000       1.500,000

Share dividend payable 400,000

Credit balances in customer's account 200,000

Serial bonds payable in semi annual installment of 500,000    5,000,000 

Accrued interest on bonds payable  150,000

Contested BIR tax assessment - possible obligation 300,000

Unearned rent income  100,000

Required:

Compute the total current liabilities on December 31,2021

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