Can someone please answer this! It's Liabilities under accounting
1. Current Liabilities. The following information pertains to Prince Company as of Bra Compute the total current liabilities on December 31, 2019. 2. Accounts Payable. King Co,'s accounts payable at December 31, 2019 was P1,400,000 before considering the following data: - Goods shipped to King FOB shipping point on December 22, 2019 were lost in transit. The invoice cost of P80,000 was not recorded by King. On Jan. 5 , 2020, King filed a P80,000 claim against the common carrier. - Goods shipped to King FOB destination on Dec. 20, 2019 were received on Jan. 6. 2025. The invoice cost was P50,000. What amount should King report as accounts payable in its December 31, 2019 statement of financial position? 3. Unearned Income. Star Pro Magazine sold 10,000 annual subscriptions on August 1, 2019, for P200 each. How much is the unearned subscription income on August 1, 2019? How much is the unearned subscription income balance on December 31, 2019? 4. Premiums. Regal Studios, in an effort to promote the release of their new movie "Ninjas from Space," began a national sales promotion campaign. Two coupons from specially marked boxes (one coupon in each box) of "Sugar Charms" cereal are redeemable for one ticket to the show. Tickets cost Regal =15 each. Regal estimates that 40 percent of the coupons will be redeemed. At the end of 2019 , the following information is available: What is the estimated liability for premium claims outstanding at December 31 , 2019 ? 5. Warranties. In the calendar year 2019 Golden Enterprises sold 4,000 thilis of parts. It is expected that 3% of the units would be defective and that repar What amount should Golden accrue on December 31, 2019 for estimated wathang costs? acquired a building for P12,000,000. JFK paid P2,000,000 and sighed a noninterest bearing note for the balance which is payable in 4 annual instaliterts every December 31 of each year. The prevailing interest rate for a note of thit type is 12%. The present value of an ordinary annuity of 1 for four periad if 3.03735. a. Determine the present value of the note on January 1, 2019. b. Determine the discount on notes payable on January 1, 2019. 8. Contingent Liabilities. In August, 2019, a worker was injured in the batw? in an accident partially the result of his own negligence. The worker tas sad Lester Co. for P800,000. Counsel believes it is possible but not prob able that be outcome of the suit will be unfavorable and that the settlement would cast tie company from P250,000 to P500,000. Discuss the proper accounting treatment, including any required disciasmsfr the situation. 9. Bonds Payable. On January 1, 2019, Gillian Co. issued its 10% bonds in th face amount of P3,000,000, which mature on January 1, 2024. The bonds wet issued for P3,405,000 to yield 8%, resulting in bond premium of 94050% Gillian uses the effective-interest method of amortizing bond preminum intati is payable annually on December 31 . a. What is the issue price of the bonds? b. What should be the carrying value of the bonds at December 3L, 2019? 10. Bonds Payable. On January 1, Dion Inc, issued P5,000,000,9% bonds for 4,695,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31 . Dion uses the effective-interest method of a. How much is the interest expense for year? b. What amount should be reported as bonds payable at the end of the firstyear? 11. Total Liabilities. The following data pertain to PO Company as of June 30,2019 : a. Accounts payable arising from purchased of goods, 1115,000 . b. Cash dividends payable, P30,000. c. Income tax payable, P18,000. d. Accrued salaries payable, P20,000. e. Customer's deposits, 99,900 . f. Provision for warranty, P5,200, 8. Reserve for contingencies, P50,000 h. Mortgage payable, P2,000,000 Based on the above data, what is the total amount of actual liablitities to be reported on the statement of financial position of June 30, 2019? 12 Liquidity and Solvency Ratio. Presented below is information available for Martin Company. a. What is the working capital of Martin Company? b. What is the current ratio of Martin Company? c. Is the company liquid, able to pay current maturing obligations? d. What is the debt to total assets ratio of the compary? 2. What is the times interest earned ratio of the compary? f. Is the company solvent