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The accounts and balances shown below were gathered from Clown Company's trial balance on December 31, 2018. All adjusting entries have been made. Wages Payable,

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The accounts and balances shown below were gathered from Clown Company's trial balance on December 31, 2018. All adjusting entries have been made. Wages Payable, P250,000; Cash, P175,000; Bonds Payable, due December 31, 2021 P600,000; Dividends Payable, P140,000; Prepaid Expense, P136,000; Inventory, P820,000; Bond Sinking Fund, P525,000; Financial asset at fair market value through profit/loss, P153,000; Financial asset at fair market value through other comprehensive income/loss, P300,000; Premium on Bonds Payable, P48,000; Investment in Associate, P1,020,000; Income Taxes Payable, P228,000; Deferred Tax Liability, P150,000; Accounts Payable, P248,000; Accounts Receivable, P366,000, Property Plant & Equipment, P1,200,000; Patents - net, P150,000; Accumulated Depreciation - PPE, P400,000; Land held for future business site, P900,000; and Goodwill P450,000. 1. How much should be the amount of current and non-current assets, respectively, on Clown's December 31, 2018 balance sheet? 2. How much should be the amount of current and non-current liabilities, respectively, to be reported in the December 31, 2018 balance sheet of Clown Company

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