Wintermelon Company provided the following information on December 31, 2020: Advances from officers 300,000 Bank overdraft – BPI 250,000 Withholding tax payable 60,000 Deferred tax liability 45,000 Bonds payable 2,280,000 Bank overdraft – BDO 350,000 Estimated premium liability 120,000 Accounts receivable with credit balance 450,000 Compute for the total current liabilities.
Wintermelon Company provided the following information on December 31, 2020: Advances from officers 300,000 Bank overdraft – BPI 250,000 Withholding tax payable 60,000 Deferred tax liability 45,000 Bonds payable 2,280,000 Bank overdraft – BDO 350,000 Estimated premium liability 120,000 Accounts receivable with credit balance 450,000 Compute for the total current liabilities.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Wintermelon Company provided the following information on December 31, 2020:
| Advances from officers | 300,000 |
| Bank overdraft – BPI | 250,000 |
| Withholding tax payable | 60,000 |
| 45,000 | |
| Bonds payable | 2,280,000 |
| Bank overdraft – BDO | 350,000 |
| Estimated premium liability | 120,000 |
| 450,000 |
Compute for the total current liabilities.
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