Problem 1: On December 31, 2018, the bookkeeper of Layla Company provided the following information:

Accounts payable, including deposits and advances from customers of 500,000

Notes payable, including note payable to bank due on December 31, 2020 for 1, 000,000 Share dividends payable

Credit balance in customers' accounts

Serial bonds, payable in semiannual installments of 1,000,000

Accrued interest on bonds payable

Contested BIR tax assessment

Unearned rent income

2,500,000 3,000,000 800,000 400,000 10,000,000 300,000 600,000 100,000