Question
Flo-Rida Companys trial balance reflected the following account balances on December 31, 2019: Cash P 1,000,000 Accounts payable, net of debit balance in suppliers accounts
Flo-Rida Companys trial balance reflected the following account balances on December 31, 2019:
Cash | P 1,000,000 |
Accounts payable, net of debit balance in suppliers accounts amounting to P25,000 | 1,000,000 |
Bonds payable | 3,400,000 |
Premium on bonds payable | 200,000 |
Deferred tax liability | 400,000 |
Property dividends payable | 400,000 |
Income tax payable | 300,000 |
Note payable, due January 31, 2020 | 500,000 |
Contingent liability | 150,000 |
Share dividends payable | 320,000 |
Cash dividends payable | 80,000 |
Financial liabilities at FV through profit or loss | 130,000 |
Reserve for contingencies | 430,000 |
Estimated expense of meeting warranties | 335,000 |
Estimated damages as a result of unsatisfactory performance on a contract | 268,000 |
Mortgage payable | 1,000,000 |
Loans payable (payable in five equal annual installments) | 500,000 |
The P1,000,000 Cash account is net of bank overdraft of P300,000 and unreleased check of P100,000 and including customers posted check of P50,000 and sinking fund amounting to P280,000
- How much is the total current liabilities for the year ended December 31, 2019?
- How much is the total non current liabilities for the year ended December 31, 2019?
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