Solution-What amount of the note payable should be reported

What amount of the note payable should be reported

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Reference no: EM133152513

Question - On December 31, 2020, CURRENT DAVILA Co. had a P 1,000,000 note payable outstanding due on June 30, 2021. The entity planned to refinance the note by issuing long-term bonds.

On December 20, 2020, the entity completed a long-term bond offering at par for P 1,500,000. Half of proceeds will be used to settle part of the note payable due on June 30, 2021. Since the entity temporarily had excess cash, it prepaid P 250,000 of the same note on January 15, 2021.

The financial statements of the entity were issued on March 20, 2021. What amount of the note payable should be reported among current liabilities as at December 31, 2020?

How much provision for restructuring costs should be reported in relation to the closure of Manila Branch?

Reference no: EM133152513

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What amount of the note payable should be reported

Reference no: EM133152513

Reference no: EM133152513

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