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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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