Using the data given below, compute for the total amount of items that meet the definition of financial liability Bank overdraft P 100,000 Accounts payable 1,200,000 Notes payable 500,000 Loans payable 1,800,000 Income tax payable 120,000 Warranty obligations 180,000 Deferred revenue 240,000 Cumulative, redeemable preference shares at the option of the issuer 1,000,000 Non-cumulative, non-redeemable preference shares 2,000,000
Using the data given below, compute for the total amount of items that meet the definition of financial liability Bank overdraft P 100,000 Accounts payable 1,200,000 Notes payable 500,000 Loans payable 1,800,000 Income tax payable 120,000 Warranty obligations 180,000 Deferred revenue 240,000 Cumulative, redeemable preference shares at the option of the issuer 1,000,000 Non-cumulative, non-redeemable preference shares 2,000,000
Chapter12: Capital Structure
Section: Chapter Questions
Problem 1PROB
Related questions
Question
100%
Using the data given below, compute for the total amount of items that meet the definition of financial liability
|
Bank overdraft |
P 100,000 |
|
Accounts payable |
1,200,000 |
|
Notes payable |
500,000 |
|
Loans payable |
1,800,000 |
|
Income tax payable |
120,000 |
|
Warranty obligations |
180,000 |
|
Deferred revenue |
240,000 |
|
Cumulative, redeemable |
1,000,000 |
|
Non-cumulative, non-redeemable preference shares |
2,000,000 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning