Twice KPOP Company disclosed the following information on December 31, 2021: SSS payable P20,000 Notes Payable P40,000 Deferred tax liability P10,000 Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 P1,000,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years P1,500,000 Note: In the case of the notes payable due to bank, supposing the entity has the discretion to refinance the obligation for at least 12 months after the given maturity date, as seen in its loan agreement, Required: Compute for the Non-current liabilities as of December 31, 2021
Twice KPOP Company disclosed the following information on December 31, 2021: SSS payable P20,000 Notes Payable P40,000 Deferred tax liability P10,000 Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 P1,000,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years P1,500,000 Note: In the case of the notes payable due to bank, supposing the entity has the discretion to refinance the obligation for at least 12 months after the given maturity date, as seen in its loan agreement, Required: Compute for the Non-current liabilities as of December 31, 2021
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 7MC: Lime Co. incurs a $4,000 note with equal principal installment payments due for the next eight...
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Twice KPOP Company disclosed the following information on December 31, 2021:
| SSS payable | P20,000 |
| Notes Payable | P40,000 |
| P10,000 | |
| Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 |
P1,000,000 |
| Mortgage payable, issued on March 1, 2012, maturing after 10 years | P1,500,000 |
Note: In the case of the notes payable due to bank, supposing the entity has the discretion to refinance the obligation for at least 12 months after the given maturity date, as seen in its loan agreement,
Required:
Compute for the Non-current liabilities as of December 31, 2021
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