Consider the following information from the record of Ornamental Green Garden at the end of the fiscal year, November 30,2020: • Accounts payable Php600,000 • Interest payable Php150,000 • Accrued Exp. payable Php250,000 • Notes payable due 2025 Php700,000 What is the amount of current liability that should be reported by Ornamental Green Garden in its November 30, 2020 fiscal year balance sheet? A P 1,000,000 В P 600,000 C) P 700,000 P 1,700,000

Consider the following information from the record of Ornamental Green Garden at the end of the fiscal year, November 30,2020: • Accounts payable Php600,000 • Interest payable Php150,000 • Accrued Exp. payable Php250,000 • Notes payable due 2025 Php700,000 What is the amount of current liability that should be reported by Ornamental Green Garden in its November 30, 2020 fiscal year balance sheet? A P 1,000,000 В P 600,000 C) P 700,000 P 1,700,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 3MCQ

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