MC21. Bay Corporation trial balance included the following account balances at December 31, 2021: Accounts payable - P4,500,000; Bonds payable, due December 31, 2022 P7,500,000; Discount on bonds payable - P900,000; Dividends payable on January 31, 2022 P2,400,000; payable due January 31, 2025 - P6,000,000. Notes - - How much is included in the current liabilities section of Bay Corporation's December 31, 2021 statement of financial position?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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MC21. Bay Corporation trial balance included the following account
balances at December 31, 2021:
Accounts payable - P4,500,000; Bonds payable, due December 31,
2022 P7,500,000; Discount on bonds payable
-
P900,000;
Notes
Dividends payable on January 31, 2022 - P2,400,000;
payable due January 31, 2025 - P6,000,000.
How much is included in the current liabilities section of Bay
Corporation's December 31, 2021 statement of financial position?
Transcribed Image Text:MC21. Bay Corporation trial balance included the following account balances at December 31, 2021: Accounts payable - P4,500,000; Bonds payable, due December 31, 2022 P7,500,000; Discount on bonds payable - P900,000; Notes Dividends payable on January 31, 2022 - P2,400,000; payable due January 31, 2025 - P6,000,000. How much is included in the current liabilities section of Bay Corporation's December 31, 2021 statement of financial position?
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