Answered: total current liabilities

Business

Accounting

total current liabilities

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

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

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

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 8RE

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Question

On December 31, 2019, Gliezel company provided the following information:
Accounts payable, including deposits and advances from customer of 300,000
1,500,000
Notes payable, including note payable to bank due on December 31, 2021
of 600,000
1,800,000
Stock dividend payable
480,000
Credit balances in customers accounts
240,000
Serial bonds payable in semiannual installment of 600,000
6,000,000
Accrued interest on bonds payable
180,000
Contested BIR tax assessment – possible obligation
360,000
Unearned rent income
120,000
Compute the total current liabilities.

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