At what amount should the total current liabilities be shown

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Question - The liability section of the statement of financial position of ABC Co. on December 31, 2020 showed: Share dividends declared but not yet paid - P50,000; Dividends in arrears on preference shares - P25,000; Income tax withheld - P1,500; Deferred income tax payable P10,000; Accounts payable, net of P5,000 debit balance in two supplier's account -P55,000; Bank overdraft with Metro Bank -P12,000; and Mortgage loans incurred in 2020 payable in ten annual installments starting July 1, 2021 - P500,000. At what amount should the total current liabilities be shown?

a. 18.5k

b. 653.5k

c. 123.5k

d. 173.5k

Reference no: EM132996807

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