he records of Aloha Company on December 31, 2021: Carrying amount Tax base Accounts receivable P 1,500,000 P 1,750,000 Motor vehicle 1,650,000 1,250,000 Provision for warranty 120,000 Nil Deposits received in advance 150,000 Nil

X Corporation expects the following transaction in 2020. Their first year of operations.·         Allowance for bad debts, end of year is 80,000·         Sales (some receivables are collectible in 2021) 1,500,000·         Bad debt written offs during the year 10,000·         Disbursements of costs and expenses 1,200,000·         Disbursements for income taxes 90,000·         Accounts receivable, end of year, net- 70,000·         Purchases of fixed assets for cash 400,000·         Proceeds from issuance of ordinary shares 580,000·         Proceed from short-term borrowings 100,000·         Payments on short-term borrowings 60,000·         Depreciation on fixed assets 80,000·         Loss on sale of fixed assets (book value 100,000) 10,000What is the cash balance at December 31, 2020?   • 470,000 • 300,000 • 390,000 • 370,000 • None of the above

Clark Company paid Sherman Company for merchandise with a $4,000, 60-day, 9% note dated April 1. If Clark Company pays the note at maturity, what entry should Sherman make at that time? Select one: a.     BALANCE SHEET INCOME STATEMENT   ASSETS = LIABILITIES + STOCKHOLDER'SEQUITY REVENUE - EXPENSE   Cash NotesReceivable   NotesPayable   Retained Earnings InterestIncome   InterestExpense A) +4,360 -4,000       +360 +360     b.     BALANCE SHEET INCOME STATEMENT   ASSETS = LIABILITIES + STOCKHOLDER'SEQUITY REVENUE - EXPENSE   Cash NotesReceivable   NotesPayable   Retained Earnings InterestIncome   InterestExpense B) -4,360     -4,000   -360     +360 c.     BALANCE SHEET INCOME STATEMENT   ASSETS = LIABILITIES + STOCKHOLDER'SEQUITY REVENUE - EXPENSE   Cash NotesReceivable   NotesPayable   Retained Earnings InterestIncome   InterestExpense C) +4,060 -4,000       +60 +60     d.     BALANCE SHEET INCOME STATEMENT   ASSETS =…

On December 1, 2024 Modern Deing Products borrowed $97,000 on a 0% 10-year note with annual installment payments of $9 700 plus interest due on December 1 of each succeeding year On December 1. the principal was recorded as a What amount of the nole will be shown as portion of 20247 (Round your answer to nearest whole number) Nole Payable on OA $19,400 OB $15.500 OC. $9,700 OD $5,820

Twice KPOP Company disclosed the following information on December 31, 2021:   SSS payable P20,000 Notes Payable P40,000 Deferred tax liability P10,000 Notes payable due to bank, 12% interest bearing note payable yearly,issued on August 31, 2021, maturing on August 31, 2022 P1,000,000 Mortgage payable, issued on March 1, 2012, maturing after 10 years P1,500,000 Accounts receivable, after deducting credit balances of customers’accounts amounting to ₱42, 500 P150,000   Required: Compute for the Current liabilities as of December 31, 2021

BT21 Company reported the following account balances on December 31, 2021:·        Accounts payable- P1,900,000·        Bonds payable  - P3,400,000·        Premium on bonds payable- P200,000·        Deferred tax liability- P400,000·        Dividend payable- P500,000·        Income tax payable- P900,000·        Note payable due January 31, 2022- P600,000On December 31, 2021, what total amount should be reported as current liabilities?

Catriona Company disclosed the following information on December 31, 2021:   SSS payable P20,000 Notes Payable P40,000 Deferred tax liability P10,000 Notes payable due to bank, 12% interest bearing note payable yearly,issued on August 31, 2021, maturing on August 31, 2022 P1,000,000       Note: In the case of the notes payable due to bank, supposing the entity has the discretion to refinance the obligation for at least 12 months after the given maturity date (not reporting period), as seen in its loan agreement, Compute for the current liabilities as of December 31, 2021

What is the carrying amount of the note as of December 31, 2022

On June 1, Davis Inc. issued an $64,900, 7%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. a.$379 b.$1,148 c.$757 d.$4,543

13 The following information relates to Maharlika Corporation for the year ended June 30, 2021. Sales revenue 450,000 Opening balance of trade receivables (net of allowance) 100,000 Closing balance of trade receivable (net of allowance) 132,500 Doubtful debt expense 5,000 Increase in allowance for doubtful debts 2,000   Bad debts are written off against the allowance for doubtful debts. What is the amount of cash collected from the customers during the year ended June 30, 2021? Group of answer choices 487,500 412,500 418,500 481,500