Salaries payable Accounts payable Employees' income tax payable Estimated warranty payable 450,000 660,000 80,000 40,000 Notes payable (issued in 2021 maturing 24 semi-annual installments beginning on April 1, 2022) 4,800,000 Cash overdraft, PNB 70,000 Customers' accounts with credit balances 35,000 Estimated premium claims outstanding Income tax payable 110,000 600,000 Cash balance, BDO 1,240,000 Determine the amount of current liabilities to be reported on Dec 31, 202 statement of financial position?

Salaries payable Accounts payable Employees' income tax payable Estimated warranty payable 450,000 660,000 80,000 40,000 Notes payable (issued in 2021 maturing 24 semi-annual installments beginning on April 1, 2022) 4,800,000 Cash overdraft, PNB 70,000 Customers' accounts with credit balances 35,000 Estimated premium claims outstanding Income tax payable 110,000 600,000 Cash balance, BDO 1,240,000 Determine the amount of current liabilities to be reported on Dec 31, 202 statement of financial position?

Name: Below information is excerpt from ABC Company's Dec. 31, 2021 financia
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Description: Below information is excerpt from ABC Company's Dec. 31, 2021 financial records: Salaries payable450,000Accounts payable660,000Employees' income tax payableEstimated warranty payable80,00040,000Notes payable (issued in 2021 maturing 24 semi-annualins

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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