Asdasd
Asdasd
Cash 400,000
Trade receivables 1,500,000
Inventory, including inventory expected in the ordinary course of operations to 1,200,000
be sold beyond 12 months amounting to P 800,000
Prepaid Insurance 240,000
Financial assets at fair value through profit or loss 300,000
Financial assets at fair value through other comprehensive income 600,000
Financial assets at amortized cost 1,000,000
Deferred tax asset 150,000
Bank overdraft 250,000
Machinery 800,000
Accumulated depreciation 200,000
Noncurrent assets held for sale building 650,000
Land used as a plant site 920,000
1. How much is the total current assets as of December 31, 2016? _________________
2. How much is the total noncurrent assets as of December 31, 2016? _________________
Chronicles Company’s trial balance reflected the following account balances on December 31, 2016:
Cash, net of bank overdraft of P 300,000 and unreleased check of P 100,000 and P 1,000,000
including customer’s post-dated check of P 50,000 and sinking fund amounting to
P 280,000
Accounts payable, net of debit balance in suppliers accounts amounting to P 1,000,000
25,000
Bonds payable 3,400,000
Premium on bonds payable 200,000
Deferred tax liability 400,000
Property dividends payable 400,000
Income tax payable 300,000
Note payable, due January 31, 2017 500,000
Contingent liability 150,000
Share dividend payable 320,000
Cash dividends payable 80,000
Financial liabilities at fair value through profit or loss 130,000
Reserve for contingencies 430,000
Estimated expenses of meeting warranties 335,000
Estimated damages as a result of unsatisfactory performance on a contract 268,000
Mortgage payable 1,000,000
Loan payable (payable in five equal annual installments) 500,000
1. How much is the total current liabilities as of December 31, 2016? __________________
2. How much is the total noncurrent liabilities as of December 31, 2016? __________________
Ezra Company’s trial balance reflected the following account balances on December 31, 2016:
How much is the total shareholders’ equity as of December 31, 2016? ________________