Reference no: EM132960943
Question - ABC Corporation presented the following information as of December 31, 2020:
Deferred tax liability 125,000
Deferred tax asset 50,000
Notes receivable, payable in 3 equal annual installments 1,500,000
Cash in bank - BPI account no.101 150,000
Cash in bank - BPI account no.102 (overdraft) (20,000)
Petty cash fund, includes unreplenished vouchers for Php18,000 30,000
Time deposit, 60 days 40,000
Time deposit, 120 days 80,000
Required - How much is the current asset?
a. 762000
b. 780000
c. 782000
d. 760000