Reference no: EM133169574
Question -
1. Determine the Total liabilities:
Accounts payable 1,000,000
Advances to employees 45,000
Unearned rent revenue 300,000
Estimated liability under warranties 250,000
Cash surrender value of officer's life insurance 75,000
Bonds payable 5,000,000
Discount on bonds payable 500,000
Trademark 50,000
2. Brunei Company disclosed the following information at year-end:
Accounts payable P4,000,000, after deducting debit balances in supplier's accounts amounting to P100,000.
Accrued expenses P1,500,000
Credit balances of customer's accounts P500,000
Share dividends payable P1,000,000
Claims for an increase in wages by employees, covered in a pending lawsuit P400,000
Estimated expenses in redeeming prize coupons presented by customers P600,000
How much are the current liabilities?
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