4.- 5 Bren provided the following selected informationCash in bank, net of bank overdraft of 200,000Customers' account with credit balanceEstimated premium liabilityBonds payable, (payable annually for P400,000starting December 31, 2022)Notes payable, (60% of which will mature after 2years)Accrued expensesDeferred tax liabilityShare dividends payableat December 31, 20600,000200,000300,0001,600,000900,00050,000350,000250,000100,000150,000On December 31, 2021, how much is the total amount to be reported as4. Current liabilitiesa.) 1,610,000 b.) 1,860,000 c.) 1,510,000 d.) 1,790,0005.Noncurrent liabilitiesContainer's depositAdvances to suppliera.) 2,090,000 b.) 1,290,000 c.) 1,390,000 d.) 2,110,000

Current liabilities are obligations that are expected to be settled within one year or within the…

4. - 5 Bren provided the following selected information Cash in bank, net of bank overdraft of 200,000 Customers' account with credit balance Estimated premium liability at December 31, 600,000 200,000 300,000 1,600,000 900,000 50,000 350,000 250,000 100,000 150,000 On December 31, 2021, how much is the total amount to be reported 4. Current liabilities a.) 1,610,000 b.) 1,860,000 c.) 1,510,000 d.) 1,790,000 5.Noncurrent liabilities a.) 2,090,000 b.) 1,290,000 c.) 1,390,000 d.) 2,110,000 Bonds payable, (payable annually for P400,000 starting December 31, 2022) Notes payable, (60% of which will mature after 2 years) Accrued expenses Deferred tax liability Share dividends payable Container's deposit Advances to supplier

4. - 5 Bren provided the following selected information Cash in bank, net of bank overdraft of 200,000 Customers' account with credit balance Estimated premium liability at December 31, 600,000 200,000 300,000 1,600,000 900,000 50,000 350,000 250,000 100,000 150,000 On December 31, 2021, how much is the total amount to be reported 4. Current liabilities a.) 1,610,000 b.) 1,860,000 c.) 1,510,000 d.) 1,790,000 5.Noncurrent liabilities a.) 2,090,000 b.) 1,290,000 c.) 1,390,000 d.) 2,110,000 Bonds payable, (payable annually for P400,000 starting December 31, 2022) Notes payable, (60% of which will mature after 2 years) Accrued expenses Deferred tax liability Share dividends payable Container's deposit Advances to supplier

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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In 2021, Bank Muscat reported the following amounts in its Balance sheet and Income Statement. Assets 1032600 OMR Liabilities 805500 OMR Interest Revenue 602300 OMR Interest Expense 404000 OMR Earning assets are 75% of Total Assets. Interest Bearing Liabilities are 80% of Total Liabilities. What is the Spread of Bank Muscat? Select one: Oa. 2.54 % Ob. 15.08 % Oc. 8.17 % Od. 27.62 %
POLKADOT Company y disclosed the following information on December 31, 2021: Accrued rent expense 54,000 Share dividends payable 750,000 Accounts receivable, after deducting credit balances of customers’ accounts amounting to ₱42, 500 179,300 Estimated premium liability 65,800 Cash in bank, net of bank overdraft of ₱22,650 481,900 Deferred tax liability 215,500 Accounts payable, net of debit balances in suppliers’ accounts amounting to ₱8,310 95,420 Unearned interest income 225,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years 1,500,000 Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 1,000,000 Cash dividends payable 520,000 SSS payable 57,100 Serial bonds payable in 5 yearly installment of ₱250,000 payable every October 31 1,250,000 Estimated damages because of a supposed unsatisfactory performance on a contract, a possible obligation 75,000 Income tax payable…
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current assets?
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current liabilities?
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RMM Company disclosed the following information on December 31, 2021: Accrued rent expense 54,000 Share dividends payable 750,000 Accounts receivable, after deducting credit balances of customers’ accounts amounting to ₱42, 500 179,300 Estimated premium liability 65,800 Cash in bank, net of bank overdraft of ₱22,650 481,900 Deferred tax liability 215,500 Accounts payable, net of debit balances in suppliers’ accounts amounting to ₱8,310 95,420 Unearned interest income 225,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years 1,500,000 Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 1,000,000 Cash dividends payable 520,000 SSS payable 57,100 Serial bonds payable in 5 yearly installment of ₱250,000 payable every October 31 1,250,000 Estimated damages because of a supposed unsatisfactory performance on a contract, a possible obligation 75,000 Income tax payable…