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BT21 Company reported the following account balances on December 31, 2021: ·        Accounts payable- P1,900,000 ·        Bonds payable  - P3,400,000 ·        Premium on bonds payable- P200,000 ·        Deferred tax liability- P400,000 ·        Dividend payable- P500,000 ·        Income tax payable- P900,000 ·        Note payable due January 31, 2022- P600,000 On December 31, 2021, what total amount should be reported as current liabilities?

BT21 Company reported the following account balances on December 31, 2021: ·        Accounts payable- P1,900,000 ·        Bonds payable  - P3,400,000 ·        Premium on bonds payable- P200,000 ·        Deferred tax liability- P400,000 ·        Dividend payable- P500,000 ·        Income tax payable- P900,000 ·        Note payable due January 31, 2022- P600,000 On December 31, 2021, what total amount should be reported as current liabilities?

Intermediate Accounting: Reporting And Analysis
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 25E
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BT21 Company reported the following account balances on December 31, 2021:

·        Accounts payable- P1,900,000

·        Bonds payable  - P3,400,000

·        Premium on bonds payable- P200,000

·        Deferred tax liability- P400,000

·        Dividend payable- P500,000

·        Income tax payable- P900,000

·        Note payable due January 31, 2022- P600,000

On December 31, 2021, what total amount should be reported as current liabilities?

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