3. The following accounts and their balances appear in an unadjusted trial balance ofCASHEW Company as of December 31, 2021: *Cash and cash equivalents400,000Trade and other receivables2,000,000Subscription receivables375,000InventoryTrade and other payablesIncome tax payable500,000670,000196,500Additional information:• Trade and other receivables include long-term advances to company officers amounting to P430,000The subscriptions receivable has the following call dates: June 30, 2022 – P200,000; December 31,2022 - P100,000; and June 30, 2023-975,000Inventory of P500,000 was determined by physical count. On December 31, 2021, goods costingP125,000 are in transit from a supplier. Terms of purchase of the said goods is FOB origin. The goodsand the related invoice have not been received as of year-end.• Trade and other payables include dividends payable amounting to P170,000, of which P70,000 ispayable in cash and P100,000 is distributable in CASHEW's own shares.What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021?

Current Liabiltiies are those liabilities and dues that needs to be paid out in short term or in a…

3. The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021: * Cash and cash equivalents 400,000 Trade and other receivables 2,000,000 375,000 Subscription receivables Inventory Trade and other payables 500,000 670,000 Income tax payable 196,500 Additional information: • Trade and other receivables include long-term advances to company officers amounting to P430,000 • The subscriptions receivable has the following call dates: June 30, 2022 – P200,000; December 31, 2022 - P100,000; and June 30, 2023- P75,000 Inventory of P500,000 was determined by physical count. On December 31, 2021, goods costing P125,000 are in transit from a supplier. Terms of purchase of the said goods is FOB origin. The goods and the related invoice have not been received as of year-end. • Trade and other payables include dividends payable amounting to P170,000, of which P70,000 is payable in cash and P100,000 is distributable in CASHEW's own shares. What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021?

3. The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021: * Cash and cash equivalents 400,000 Trade and other receivables 2,000,000 375,000 Subscription receivables Inventory Trade and other payables 500,000 670,000 Income tax payable 196,500 Additional information: • Trade and other receivables include long-term advances to company officers amounting to P430,000 • The subscriptions receivable has the following call dates: June 30, 2022 – P200,000; December 31, 2022 - P100,000; and June 30, 2023- P75,000 Inventory of P500,000 was determined by physical count. On December 31, 2021, goods costing P125,000 are in transit from a supplier. Terms of purchase of the said goods is FOB origin. The goods and the related invoice have not been received as of year-end. • Trade and other payables include dividends payable amounting to P170,000, of which P70,000 is payable in cash and P100,000 is distributable in CASHEW's own shares. What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 16E: Dudley Company failed to recognize the following accruals. It also recorded the prepaid expenses and...

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The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021: Cash and cash equivalents P400,000 Trade and other receivables 2,000,000 Subscription receivables 375,000 Inventory 500,000 Trade and other payables 670,000 Income tax payable 196,500 Additional Information: - Trade and othe receivables include long term advances to company officers amounting to P430,000 - The subscriptions receivable has the following call dates: June 30, 2022 - P200,000; December 31, 2022- P100,000, and June 30, 2023- P75,000 - Inventory of P500,000 was determined by physical count. On December 31, 2021, goods costing P125,000 are transit from a supplier. Terms of purchase of the…
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1.The following accounts and their balances appear in an unadjusted trial balance of Achiever Company as of December 31, 2020: Cash and Cash Equivalents - 400,000; Trade and other receivables - 2,000,000; Subscription receivable - 375,000; Inventory -500,000; Trade and other payables - 670,000; Income tax payable - 196,500. Additional information: a) Trade and other receivables include long term advances to company officers amounting to P430,000. b) The subscription receivable has the following call dates: June 30, 2021, P200,000; December 31, 2021, P100,000; and June 30, 2022, P75,000. c) Trade and other payables include dividends payable amounting to P170,000, of which P70,000 is payable in cash and P100,000 is distributable in Achiever's own shares. What is the total current assets at December 31, 2020? 2.Using the information of Achiever Company, what is the total current liabilities at December 31, 2020? Thank you so much
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