On December 31, 2019, the bookkeeper of Glare Company provided the following information. Accounts payable, including deposits and advances from customer of P250,000 Notes payable, including note payable to bank on December 31, 2021 of P500,000 Stock dividend payable 1,250,000 1,500,000 400,000 200,000 5,000,000 Credit balances in customers account Serial bonds payable in semiannual installment of P500,000 Accrued interest on bonds payable Contested BIR tax assessment-possible obligation Unearned rent income 150,000 300,000 100,000 Required: Compute the total current liabilities on December 31, 2019.

On December 31, 2019, the bookkeeper of Glare Company provided the following information. Accounts payable, including deposits and advances from customer of P250,000 Notes payable, including note payable to bank on December 31, 2021 of P500,000 Stock dividend payable 1,250,000 1,500,000 400,000 200,000 5,000,000 Credit balances in customers account Serial bonds payable in semiannual installment of P500,000 Accrued interest on bonds payable Contested BIR tax assessment-possible obligation Unearned rent income 150,000 300,000 100,000 Required: Compute the total current liabilities on December 31, 2019.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 48P

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