December 31, 2021 December 31, 2020 P 250,000 P 300,000 How much is adjusted / accrual balance of total liabilities as of December 31, 2021?
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- *see attached How much should be reported in the December 31, 2020 balance sheet as total liabilities?a. P 7,210,000b. P 7,005,000c. P 6,960,000d. P 6,672,000The insurance total of R9000 on 29 February 2020, the end of the financial year, included a premium of R3000 that was paid for the period 01 December 2019 to 30 November 2020. Which of the following represents the insurance expense for the year ended 29 February 2020? A) R2 250 B) R9 000 C) R6 000 D) R6 750Determine Total Current Liabilities as of December 31, 2023: Select one: a. $27,300 b. $39,900 c. $144,900 d. $132,300 e. $247,350
- On December 31, 2021, what total amount should be reported as current liabilities? a.) 1,066,000 b.) 1,077,000 c.) 1,004,000 d.) 1,146,000 e.) none of the aboveWhat amount of interest revenue should be recorded in 2021? *a. 490,000b. 480,000c. 438,000d. 391,800How much is the gross income under accrual basis? * A. 2019:P1,400,000; 2020: P1,200,000 B. 2019: P1,400,000; 2020: P1,720,000 C. 2019: P500,000; 2020: P720,000 D. 2019: P800,000; 2020: P920,000
- *see attached What amount of interest income should be recognized by Ripple for the year ended December 31, 2020? a. 244,080b. 200,000c. 204,492d. 240,000Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021Total non-current liabilities as of December 31, 2019 amounted to PBlank 1.
- 1.) How much is adjusted Interest Expense on December 31, 2021?CCC Company reported the following liability balance on December 31, 2022: 12% note payable issued on March 1, 2021, maturing on March 1, 2023 5,000,00010% note payable issued on October 1, 2021, maturing October 1, 2023 3,000,000 The 2022 financial statements were issued on March 31, 2023. On January 31, 2023, the entire P5,000,000 balance of the 12% note payable was refinanced through issuance of a long-term obligation payable lump sum. Under the loan agreement for the 10% note payable, the entity has the discretion to refinance the obligation for at least twelve months after December 31, 2022. What amount of the note should be classified as current on December 31, 2022?7. Included in ABC Corp.'s liability account balances at December 31, 2021, were the following:18% note payable issued October 1, 2021, maturing September 30, 2022 – P175,00012% note payable issued last April 1, 2020, originally at P600,000. The first installment of P100,000 was made on April 1, 2021, with the balance payable in 2 more installments as follows, P200,000 on April 1, 2022, and P300,000 on April 1, 2023.ABC's December 31, 2021, financial statements were issued on March 15, 2022. On March 10, 2022, ABC consummated a noncancelable agreement with the lender to refinance the 18%, P175,000 note on a long-term basis due on the year 2024, on readily determinable terms that have not yet been implemented. Given the data above, on the December 31, 2021 balance sheet, the amount of the current liability that ABC should present shall total?