Reference no: EM132970316
As of December 31, 2021, EUSEBIO Company reported the following summarized partial information related to its balance sheet:
Cash and cash equivalents P1,200,000
Accounts Payable P1,500,000
Accounts receivable, net 4,500,000
Accrued Expenses 900,000
Inventory 3,200,000
Bonds Payable 8,000,000
Property, plant and equipment 10,000,000
Deferred tax liability 2,000,000
- Credit balances of customers totaling P540,000 were deducted from the accounts receivable balance. In addition, P1,600,000 of the accounts receivable were assigned to a bank. Debit balances in suppliers' accounts due to the Company's overpayments amounting to P275,000 were also deducted from the accounts payable balance.
- One-fourth of the bonds had an original term of seven years, but will mature on December 31, 2022. The remaining bonds will mature starting in 2023.
The deferred tax liability is expected to be reversed in 2022.
Problem 1: From the above information, determine the amount of current assets as of December 31, 2021
Problem 2: determine the amount of noncurrent assets as of December 31, 2021
Problem 3: determine the amount of current liabilities as of December 31, 2021
Problem 4: determine the amount of noncurrent liabilities as of December 31, 2021
Problem 5: determine the amount of working capital as of December 31, 2021
Problem 6: determine the amount of total capital as of December 31, 2021
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