PROBLEM 4: FOR CLASSROOM DISCUSSION Financial and Non-financial liabilities 1. Mid-Earth Co.'s liabilities as of December 31, 20x1 include the following: Accounts payable Preference shares issued with mandatory redemption Unearned income Utilities payable Warranty obligation Deferred tax liability PhilHealth contribution payable Obligation to deliver a fixed number of own shares worth a fixed amount of cash Share dividends payable Rent payable P15,000 100,000 7,000 16,000 7,000 2,000 5,000 12,000 3,000 9,000 Requirement: Compute for the total financial liabilities to be disclosed in Mid-Earth Co.'s 20x1 notes to financial statements.

PROBLEM 4: FOR CLASSROOM DISCUSSION Financial and Non-financial liabilities 1. Mid-Earth Co.'s liabilities as of December 31, 20x1 include the following: Accounts payable Preference shares issued with mandatory redemption Unearned income Utilities payable Warranty obligation Deferred tax liability PhilHealth contribution payable Obligation to deliver a fixed number of own shares worth a fixed amount of cash Share dividends payable Rent payable P15,000 100,000 7,000 16,000 7,000 2,000 5,000 12,000 3,000 9,000 Requirement: Compute for the total financial liabilities to be disclosed in Mid-Earth Co.'s 20x1 notes to financial statements.

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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Miller Corporation has screenshot atttached thanks for the help gw35p kh35p