Gold Company provided the following trial balance on December 31, 2019: Cash overdraft   P100,000 Accounts receivable P350,000   Inventory 600,000   Prepaid expenses 100,000   Land held for sale 1,000,000   Property, plant and equipment 950,000   Accounts payable   200,000 Accrued expenses   150,000 Ordinary share capital   1,500,000 Share premium   250,000 Retained earnings   800,000   P3,000,000 P3,000,000   Checks amounting to P300,000 were written to vendors and recorded on December 29, 2019 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2020. Land held for sale was sold for cash on January 31, 2020. The entity issued the financial statements on March 31, 2020.   What total amount should be reported as current liabilities?

Additional information: * All purchases of inventories are on credit * The selling and administrative expenses include depreciation of R320 000 * Property, plant and  equipment were purchased during the year but there were no disposals  * The total dividends for the year ended 31 December 2021 amounted to R360 000 * The issued share capital consisted of 100 000 ordinary shares * The market price of the shares on 31 December 2021 was R35

The comparative balance sheets for Naomi Corporation show the following information:     2021   2020         Cash $24,400   $20,700 Accounts receivable, net 43,300   20,300 Inventory 40,000   42,000 Investments 20,000   15,000 Building 160,000   100,000 Accumulated depreciation – building (27,700)   (20,000) Equipment 61,500   50,000 Accumulated depreciation - equipment (10,000)   (17,500)      Total $311,500   $210,500         Accounts payable $17,000   $26,500 Salaries payable 21,000   17,000 Long-term notes payable 100,000   50,000 Common stock   110,000   90,000 Retained earnings 63,500   27,000   Total $311,500   $210,500               Additional data related to 2021 are as follows:   $10,000 of the long-term note payable was paid by cash. Equipment that had cost $15,000 and had accumulated…

The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents                                                     $ 5,000Accounts receivable (net)                                                       20,000Inventory                                                                                60,000Property, plant, and equipment (net)                                   120,000Accounts payable                                                                   44,000Salaries payable                                                                      15,000Paid-in capital                                                                      100,000 The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.Required:Determine the following…