PROBLEM 3: MULTIPLE CHOICE - COMPUTATIONAL 1. The account balances of Boast Co. include the following: 14,000 PhilHealth cont. payable 12,000 Cash dividends payable 2,000 Share dividends payable 12,000 8,000 6,000 70,000 240,000 6,000 Premium on bonds payable 20,000 4,000 Notes payable Interest payable Unearned revenue 30,000 Lease liability 10,000 Bonds payable Rent payable Warranty obligation Discount on notes receivable Income taxes payable Obligation to deliver a fixed number of own shares worth 100,000 a fixed amount of cash 4,000 Security deposit Redeemable preference 28,00 shares issued Ordinary shares issued 20,000 Constructive obligation 22,00 How much is Boast Co.'s total financial liabilities? a. 426,000 b. 438,000 c. 444,000 d. 538.000
PROBLEM 3: MULTIPLE CHOICE - COMPUTATIONAL 1. The account balances of Boast Co. include the following: 14,000 PhilHealth cont. payable 12,000 Cash dividends payable 2,000 Share dividends payable 12,000 8,000 6,000 70,000 240,000 6,000 Premium on bonds payable 20,000 4,000 Notes payable Interest payable Unearned revenue 30,000 Lease liability 10,000 Bonds payable Rent payable Warranty obligation Discount on notes receivable Income taxes payable Obligation to deliver a fixed number of own shares worth 100,000 a fixed amount of cash 4,000 Security deposit Redeemable preference 28,00 shares issued Ordinary shares issued 20,000 Constructive obligation 22,00 How much is Boast Co.'s total financial liabilities? a. 426,000 b. 438,000 c. 444,000 d. 538.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:PROBLEM 3: MULTIPLE CHOICE - COMPUTATIONAL
1. The account balances of Boast Co. include the following:
14,000 PhilHealth cont. payable
12,000 Cash dividends
2,000 Share dividends payable
30,000 Lease liability
10,000 Bonds payable
6,000 Premium on bonds payable 20,000
4,000 Security deposit
12,000
8,000
6,000
70,000
240,000
Notes payable
Interest payable
payable
Unearned revenue
Rent payable
Warranty obligation
Discount on notes receivable
Income taxes payable
Obligation to deliver a fixed
number of own shares worth 100,000
a fixed amount of cash
4,000
Redeemable preference
28,00
shares issued
Ordinary shares issued
20,000
Constructive obligation
22,000
How much is Boast Co.'s total financial liabilities?
a. 426,000
b. 438,000
c. 444,000
d. 538,000
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