19Marriage Company’s trial balance reflected the following account balances on December 31, 2021:Cash400,000Trade receivable1,500,000Inventory, including inventory expected in the ordinary course of operations to be sold beyond 12 months amounting to P800,000 1,200,000Prepaid insurance240,000Financial assets at fair value through profit or loss300,000Financial assets at fair value through OCI600,000Financial assets at amortized cost1,000,000Deferred tax asset150,000Bank overdraft250,000Machinery800,000Accumulated depreciation200,000Noncurrent asset held for sale – building650,000Land used as a plant site920,000 How much is the total noncurrent assets for the year ended December 31, 2021?Group of answer choices2,670,0003,920,0003,270,0003,320,000

Current assets: Current assets are all those assets which are expected to be sold or used as a…

Answered: Marriage Company’s trial balance…

3rd Edition

ISBN:9781337788281

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

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

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 21E: (Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson...

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Marriage Company’s trial balance reflected the following account balances on December 31, 2021:

Cash	400,000
Trade receivable	1,500,000
Inventory, including inventory expected in the ordinary course of operations to be sold beyond 12 months amounting to P800,000	1,200,000
Prepaid insurance	240,000
Financial assets at fair value through profit or loss	300,000
Financial assets at fair value through OCI	600,000
Financial assets at amortized cost	1,000,000
Deferred tax asset	150,000
Bank overdraft	250,000
Machinery	800,000
Accumulated depreciation	200,000
Noncurrent asset held for sale – building	650,000
Land used as a plant site	920,000