Please answer, round off final answers to two decimal places The company reported a current ratio of 2.1 and 2.22 as of December 31, 2020 and December 31, 2021respectively. A section of the comparative statement of financial position is as follows:12/31/202012/31/2021P 745,488CashP 1,120,00095,000110,000Accounts ReceivableInventory135,000750,000550,000Property, plant and equipmentTotal AssetsP 2,100,000?Accounts Payable108,000?Unearned Revenue292,000?600,000?Bonds payable (maturing 10/31/2021)Total LiabilitiesP 1,000,000?Suppose the company was able to raise its unearned revenues by 20% in 2021 and the company managesits accounts payable to be 80% of current inventory stocks on hand(Hint: Current ratio = Current Assets/Current Liabilities)4 How much is the reported rinancial-poeition:Failities in the companyile-2024-statem5) How much is the balance of Accounts Payable as of 12/31/2021?

Accounts payable means those accounts of suppliers to whom business has made credit purchases on…

The company reported a current ratio of 2.1 and 2.22 as of December 31, 2020 and December 31, 202 respectively. A section of the comparative statement of financial position is as follows: 12/31/2020 12/31/2021 Cash P 1,120,000 Accounts Receivable 95,000 Inventory 135,000 750,000 Property, plant and equipment Total Assets P 2,100,000 Accounts Payable Unearned Revenue 108,000 292,000 600,000 Bonds payable (maturing 10/31/2021) Total Liabilities P 1,000,000 ? Suppose the company was able to raise its unearned revenues by 20% in 2021 and the company manage its accounts payable to be 80% of current inventory stocks on hand (Hint: Current ratio = Current Assets/Current Liabilities) 4) How much is the top nancial poeitiont ties in the companyie-2024-statemen 5) How much is the balance of Accounts Payable as of 12/31/2021? P 745,488 110,000 ? 550,000 ? 2222 ? ? ?

The company reported a current ratio of 2.1 and 2.22 as of December 31, 2020 and December 31, 202 respectively. A section of the comparative statement of financial position is as follows: 12/31/2020 12/31/2021 Cash P 1,120,000 Accounts Receivable 95,000 Inventory 135,000 750,000 Property, plant and equipment Total Assets P 2,100,000 Accounts Payable Unearned Revenue 108,000 292,000 600,000 Bonds payable (maturing 10/31/2021) Total Liabilities P 1,000,000 ? Suppose the company was able to raise its unearned revenues by 20% in 2021 and the company manage its accounts payable to be 80% of current inventory stocks on hand (Hint: Current ratio = Current Assets/Current Liabilities) 4) How much is the top nancial poeitiont ties in the companyie-2024-statemen 5) How much is the balance of Accounts Payable as of 12/31/2021? P 745,488 110,000 ? 550,000 ? 2222 ? ? ?

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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