Corinth Company has the following accounts included in its December 31 trial balance: FA@FVTPL P1,000,000 FA@FVTOCI 2,000,000 FA@AC 3,000,000 Investment in associate 4,000,000 Interest rate swap receivable 100,000 Forward contract receivable 200,000 Futures contract receivable 250,000 Call option 150,000 Petty cash fund 50,000 Payroll cash fund 500,000 Dividend cash fund 200,000 Interest fund 150,000 Sinking fund 1,100,000 Plant expansion fund 2,000,000 Stock redemption fund 1,800,000 Contingency fund 1,000,000 Insurance fund 1,000,000 Investment property 4,000,000 Prepaid rent 200,000 Cash surrender value of life insurance 100,000 How much is the total amount normally considered as noncurrent investments?
Corinth Company has the following accounts included in its December 31 trial balance: FA@FVTPL P1,000,000 FA@FVTOCI 2,000,000 FA@AC 3,000,000 Investment in associate 4,000,000 Interest rate swap receivable 100,000 Forward contract receivable 200,000 Futures contract receivable 250,000 Call option 150,000 Petty cash fund 50,000 Payroll cash fund 500,000 Dividend cash fund 200,000 Interest fund 150,000 Sinking fund 1,100,000 Plant expansion fund 2,000,000 Stock redemption fund 1,800,000 Contingency fund 1,000,000 Insurance fund 1,000,000 Investment property 4,000,000 Prepaid rent 200,000 Cash surrender value of life insurance 100,000 How much is the total amount normally considered as noncurrent investments?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Corinth Company has the following accounts included in its December 31 trial balance :
FA@FVTPL
P1,000,000
FA@FVTOCI
2,000,000
FA@AC
3,000,000
Investment in associate
4,000,000
Interest rate swap receivable
100,000
Forward contract receivable
200,000
Futures contract receivable
250,000
Call option
150,000
Petty cash fund
50,000
Payroll cash fund
500,000
Dividend cash fund
200,000
Interest fund
150,000
Sinking fund
1,100,000
Plant expansion fund
2,000,000
Stock redemption fund
1,800,000
Contingency fund
1,000,000
Insurance fund
1,000,000
Investment property
4,000,000
Prepaid rent
200,000
Cash surrender value of life insurance
100,000
How much is the total amount normally considered as noncurrent investments?
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