The following information are provided by Narra Company on its fiscal year ending October 31, 2020. • P4,000,000 Loans Payable, with P1,000,000 payable semiannually every March 31 and September 30. Related covenants were breached but the creditor signed a waiver on October 29, 2020 as to the loan being payable on demand. As such, the loan will continue to be paid in the original manner. • P8,000,000 Bonds Payable, maturing on November 30, 2021. • P2,000,000 3-Year Notes Payable, maturing on January 21, 2021. the debtor has the unconditional right to defer settlement of the note by nine months. How much is the total current liabilities and non-current liabilities?
The following information are provided by Narra Company on its fiscal year ending October 31, 2020. • P4,000,000 Loans Payable, with P1,000,000 payable semiannually every March 31 and September 30. Related covenants were breached but the creditor signed a waiver on October 29, 2020 as to the loan being payable on demand. As such, the loan will continue to be paid in the original manner. • P8,000,000 Bonds Payable, maturing on November 30, 2021. • P2,000,000 3-Year Notes Payable, maturing on January 21, 2021. the debtor has the unconditional right to defer settlement of the note by nine months. How much is the total current liabilities and non-current liabilities?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information are provided by Narra Company on its fiscal year ending October 31, 2020.
• P4,000,000 Loans Payable, with P1,000,000 payable semiannually every March 31 and September 30. Related covenants were breached but the creditor signed a waiver on October 29, 2020 as to the loan being payable on demand. As such, the loan will continue to be paid in the original manner.
• P8,000,000 Bonds Payable, maturing on November 30, 2021.
• P2,000,000 3-Year Notes Payable, maturing on January 21, 2021. the debtor has the unconditional right to defer settlement of the note by nine months.
How much is the total current liabilities and non-current liabilities?
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