Reference no: EM132794729
The following accounts and their balances appear in an unadjusted trial balance of Achiever Company as of December 31, 2020:
Cash and Cash Equivalents - 400,000;
Trade and other receivables - 2,000,000;
Subscription receivable - 375,000;
Inventory -500,000;
Trade and other payables - 670,000;
Income tax payable - 196,500.
Additional information:
a) Trade and other receivables include long term advances to company officers amounting to P430,000.
b) The subscription receivable has the following call dates: June 30, 2021, P200,000; December 31, 2021, P100,000; and June 30, 2022, P75,000.
c) Trade and other payables include dividends payable amounting to P170,000,
Problem 1: What is the total current assets at December 31, 2020?
Problem 2: Using the information of Achiever Company, what is the total current liabilities at December 31, 2020?
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