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AB Company provided the following information on December 31, 2021: Accounts payable Bonds payable due December 31, 2022 1,000,000 5,000,000 Discount on bond's payable
AB Company provided the following information on December 31, 2021: Accounts payable Bonds payable due December 31, 2022 1,000,000 5,000,000 Discount on bond's payable 250,000 Share dividend payable 750,000 Property dividend payable 250,000 Claims for increase in wages and allowance by employees of the entity, covered in a pending lawsuit 500,000 Estimated warranty 800,000 Note payable, due December 31, 2023 2,000,000 450,000 Deferred tax liability 1. What amount should be reported as total current liabilities? 2. What amount should be reported as total noncurrent liabilities? 3. How much should be reported under equity? 250,000
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