The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021:*What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021? Cash and cash equivalents400,000Trade and other receivables2,000,000Subscription receivables375,000Inventory500,000Trade and other payablesIncome tax payable670,000196,500Additional information:• Trade and other receivables include long-term advances to company officers amounting to P430,000The subscriptions receivable has the following call dates: June 30, 2022 – P200,000; December 31,2022 - P100,000; and June 30, 2023- 975,000Inventory of P500,000 was determined by physical count. On December 31, 2021, goods costingP125,000 are in transit from a supplier. Terms of purchase of the said goods is FOB origin. The goodsand the related invoice have not been received as of year-end.Trade and other payables include dividends payable amounting to P170,000, of which P70,000 ispayable in cash and P100,000 is distributable in CASHEW's own shares.

The question is based on the concept of Financial Accounting.

The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021:* What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021?

The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021:* What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021?

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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