RM Company disclosed the following information on December 31, 2021: Accrued rent expense Share dividends payable Accounts receivable, after deducting credit balances of customers" accounts amounting to P42, 500 Estimated premium liability Cash in bank, net of bank overdraft of P22,650 Deferred tax liability Accounts payable, net of debit balances in suppliers' accounts amounting to P8,310 Unearned interest income Mortgage payable, issued on March 1, 2012, maturing after 10 years Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 Cash dividends payable SSS payable Serial bonds payable in 5 yearly installment of P250,00o payable every October 31 Estimated damages because of a supposed unsatisfactory performance on a contract, a possible obligation Income tax payable Notes payable 54,000 750,000 179,300 65,800 481,900 215,500 95,420 225,000 1,500,000 1,000,000 520,000 57,100 1,250,000 75,000 138,500 460,000 Requirements: 1. Compute for the current liabilities as of December 31, 2021 2. Compute for the non-current liabilities as of December 31, 2021

RM Company disclosed the following information on December 31, 2021: Accrued rent expense Share dividends payable Accounts receivable, after deducting credit balances of customers" accounts amounting to P42, 500 Estimated premium liability Cash in bank, net of bank overdraft of P22,650 Deferred tax liability Accounts payable, net of debit balances in suppliers' accounts amounting to P8,310 Unearned interest income Mortgage payable, issued on March 1, 2012, maturing after 10 years Notes payable due to bank, 12% interest bearing note payable yearly, issued on August 31, 2021, maturing on August 31, 2022 Cash dividends payable SSS payable Serial bonds payable in 5 yearly installment of P250,00o payable every October 31 Estimated damages because of a supposed unsatisfactory performance on a contract, a possible obligation Income tax payable Notes payable 54,000 750,000 179,300 65,800 481,900 215,500 95,420 225,000 1,500,000 1,000,000 520,000 57,100 1,250,000 75,000 138,500 460,000 Requirements: 1. Compute for the current liabilities as of December 31, 2021 2. Compute for the non-current liabilities as of December 31, 2021

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 2EA: Consider the following accounts and determine if the account is a current liability, a noncurrent...

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