What amount should be reported as total current liabilities?a. 7,200,000 b. 4,700,000 c. 6,200,000 d. 5,100,000 VAL HELSING Company provided the following information on December 31, 2021:Accounts payable (net of creditors' debit balance of P200,000)2,000,000800,000Accrued expensesBonds payable due December 31, 2023Premium on bonds payableDeferred tax liabilityIncome tax payableCash dividend payableShare dividend payable4,500,000500,000500,0001,100,000600,000400,000Note payable - 6% due March 1, 2022Note payable - 8% due October 1, 2022The financial statements for 2021 were issued on March 31, 2022.On December 31, 2021, the 6% note payable was refinanced on a long-term basis.Under the loan agreement for the 8% note payable, the entity had the right onDecember 31, 2021 to roll over the obligation for at least twelve months after December 31,1,500,0001,000,0002021.

Current liabilities: Liabilities that have to be paid within one year or one operating cycle,…

VAL HELSING Company provided the following information on December 31, 2021: Accounts payable (net of creditors' debit balance of P200,000) Accrued expenses 2,000,000 800,000 Bonds payable due December 31, 2023 Premium on bonds payable Deferred tax liability Income tax payable Cash dividend payable Share dividend payable Note payable - 6% due March 1, 2022 Note payable - 8% due October 1, 2022 The financial statements for 2021 were issued on March 31, 2022. 4,500,000 500,000 500,000 1,100,000 600,000 400,000 1,500,000 1,000,000 On December 31, 2021, the 6% note payable was refinanced on a long-term basis. Under the loan agreement for the 8% note payable, the entity had the right on December 31, 2021 to roll over the obligation for at least twelve months after December 31, 2021.

VAL HELSING Company provided the following information on December 31, 2021: Accounts payable (net of creditors' debit balance of P200,000) Accrued expenses 2,000,000 800,000 Bonds payable due December 31, 2023 Premium on bonds payable Deferred tax liability Income tax payable Cash dividend payable Share dividend payable Note payable - 6% due March 1, 2022 Note payable - 8% due October 1, 2022 The financial statements for 2021 were issued on March 31, 2022. 4,500,000 500,000 500,000 1,100,000 600,000 400,000 1,500,000 1,000,000 On December 31, 2021, the 6% note payable was refinanced on a long-term basis. Under the loan agreement for the 8% note payable, the entity had the right on December 31, 2021 to roll over the obligation for at least twelve months after December 31, 2021.

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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Following is a table for the present value of $1 at compound interest: Year 6% 12% 1 0.943 0.909 0.893 2 0.890 0.826 0.797 3 0.840 0.751 0.712 4 0.792 0.683 0.636 5 0.747 0.621 0.567 Following is a table for the present value of an annuity of $1 at compound interest: Year 6% 10% 1 0.943 0.909 2 1.833 1.736 3 2.673 2.487 4 3.465 3.170 4.212 3.791 10% 12% 0.893 1.690 2.402 3.037 5 3.605 Using the tables provided, the present value of $15,007 (rounded to the nearest dollar) to be received 4 years from today, assuming an earnings rate of 10%, is Oa. $11,886 Ob. $47,572 Oc. $10,250 Od. $15,007
Q6.1
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un.3
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3.4 3 see attachment
Following is a table for the present value of $1 at compound interest: Year 6% 1 0.943 2 0.890 3 0.840 4 0.792 5 0.747 Following is a table for the present value of an annuity of $1 at compound interest: Year 6% 10% 1 0.943 0.909 2 1.833 1.736 2.673 2.487 3.465 3.170 4.212 3.791 10% 0.909 0.826 0.751 0.683 0.621 3 12% 0.893 0.797 0.712 0.636 0.567 12% 0.893 1.690 2.402 3.037 5 3.605 Using the tables provided, the present value of $6,103.00 (rounded to the nearest dollar) to be received at the end of each of the next 4 years, assuming an earnings rate of 12%, is Oa. $14,659 Ob. $6,103 Oc. $18,535 Od. $22,001
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