What amount should be reported

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Question - Ducky Company reported the following information at the end of reporting period:

Accounts payable1,000,000

Advances to employees 45,000

Unearned rent revenue 300,000

Estimated liability under warranties 250,000

Cash surrender value of officers' life insurance 75,000

Bonds payable 5,000,000

Discount on bonds payable 500,000

Trademark 50,000

Required - What amount should be reported in the statement of financial position as total liabilities?

a. 6,050,000

b. 1,550,000

c. 7,050,000

d. 6,095,000

Reference no: EM132976924

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