Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Textbook Question
Chapter 4, Problem 19P
Current liabilities:
a. $50,000
b. $46,000
c. $40,000
d. $30,000
Expert Solution & Answer
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Students have asked these similar questions
Determine Total Current Liabilities as of December 31, 2023:
Select one:
a. $27,300
b. $39,900
c. $144,900
d. $132,300
e. $247,350
20. Total current liabilities a. P6,445,000 b. P5,105,000 c. P5,445,000 d. P3,945,000
21. Total noncurrent liabilities a. P7,700,000 b. P7,590,000 c. P7,500,000 d. P7,610,000
Accounts
Cash
Accounts Receivable
Prepaid Rent
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Interest Payable
Notes Payable (due in two years)
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Rent Expense
Depreciation Expense
Interest Expense
Totals
Credit
$ 129,000
11,400
10,400
4,400
34,000
240,000
54,000
440,000
340,000
17,000
34,000
4,400
$923,200 $923,200
Debit
$11,400
144,000
5,400
27,000
340,000
Chapter 4 Solutions
Advanced Accounting
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- *see attached Determine the total current liabilities:a. P 1,300,000b. P 1,800,000c. P 2,200,000d. P 3,600,000arrow_forward. Estimate the duration of Deposit NBank Balance SheetCash = $ 50Loan M (7%, 6 years) = $200Deposit N (3 years, 2%) = $ 200Equity = $ 50Total Assets = $250Total Liabilities = $ 250 a.1.94 b. 2.94 c. 3.94 d. 4.94arrow_forward2020 commmon size liabilities accounts payable $41,498.00 notes payable $18,064.00 2021 common size common based year 14.67% $46,484.00 6.38% $17,635.00 14.52% 5.50% 1.1201arrow_forward
- What is the estimated liability from warranties? A. 1,920,000 B. 1,080,000 C. 240,000 D. 800,000arrow_forwardAssuming a 360-day year, when a $11,918, 90-day, 10% interest-bearing note payable matures, total payment will be a.$13,110 b.$1,192 c.$298 d.$12,216arrow_forwardTotal interest expended will be: a. OMR 50,400,000 b. OMR 45,000,000 c. OMR 55,000,000 d. OMR 45,400,000 Total of non-interest expenses during the year was: a. OMR 9,660,000 b. OMR 8,680,000 c. OMR 16,860,000 d. OMR 16,680,000arrow_forward
- If current assets are $100,000 and current liabilities are $42,000, what is the working capital? A. 200 percent B. 50 percent C. 2.0 D. $58,000arrow_forwardIf the annual deposit into depletion reserve is $ 1000 and annual interest on capital investment is $ 125, then find annual net income- -- Select one: O a. $ 1125 b. $ 875 c. $ 1025 d. $ 975arrow_forwardWhat is the total unearned interest income? *a. 2,410,000b. 1,666,000c. 1,210,000d. 166,000arrow_forward
- What is the liability for the outstanding premiums at year-end?* a. 2,000,000 b. 562,500 c. 2,250,000 d. 500,000arrow_forwardIf beginning and ending interest receivable were P16,000 and P5,000, respectively. Total interest income for the period amounted to P52,000, how much would be the amount of interest collections for the period?a. P31,000 c. P52,000b. P41,000 d. P63,000arrow_forward1. What is the warranty expense for the current year a. 70,000 c. 80,000 b. 50,000 d. 60,000 2. What is the warranty liability at year end? a. 10,000 c. 80,000 b. 70,000 d. 90,000arrow_forward
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The ACCOUNTING EQUATION For BEGINNERS; Author: Accounting Stuff;https://www.youtube.com/watch?v=56xscQ4viWE;License: Standard Youtube License