1. On December 31, 2021, Sampaguita Company provided the following information: Accounts Payable, including advances from customers of P50,000 Deferred advertising income Mortgage payable Estimated damages payable by reason of breach of contract Claim for increase in wages by emplloyees covered in pending lawsuit Share dividend payable Percentage Taxes Payable Bonds Payable, due May 2022 Discount on Bonds Payable 450,000 30,000 2,000,000 220,000 1,600,000 300,000 16,000 3,000,000 60,000 Compute total current liabilities on December 31, 2021.
1. On December 31, 2021, Sampaguita Company provided the following information: Accounts Payable, including advances from customers of P50,000 Deferred advertising income Mortgage payable Estimated damages payable by reason of breach of contract Claim for increase in wages by emplloyees covered in pending lawsuit Share dividend payable Percentage Taxes Payable Bonds Payable, due May 2022 Discount on Bonds Payable 450,000 30,000 2,000,000 220,000 1,600,000 300,000 16,000 3,000,000 60,000 Compute total current liabilities on December 31, 2021.
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 56P
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