Reference no: EM132835487

The accounts and balances shown below were taken from Silver Company's trial balance on December 31, 2020. All adjusting entries have been made.

Wages Payable, P250,000;

Cash, P155,000;

Bonds Payable, P600,000;

Dividends Payable, P150,000;

Prepaid Rent, P136,000;

Inventory, P820,000;

Investment in Sinking Fund Assets, P525,000;

Investment to profit or loss securities, P153,000;

Premium on Bonds Payable, P58,000;

Investment in Subsidiary, P1,020,000;

Taxes Payable, P228,000;

Accounts Payable, P248,000;

Accounts Receivable, P366,000;

Property, Plant, & Equipment, P1,200,000;

Patents-net, P150,000;

Accumulated Depreciation-PPE,P400,000;

Land held for future business site, P900,000.

Problem 1: How much should be reported in Silver's December 31, 2020 statement of financial position as non current assets?

Problem 2: How much should be reported in Silver's December 31, 2020 statement of financial position as current liabilities?

Problem 3: How much should be reported in Silver's December 31, 2020 statement of financial position as non current liabilities?

Problem 4: How much should be reported in Silver's December 31, 2020 statement of financial position as current assets?