PROBLEM 1-1
Current Liabilities
Accounts Payable (500,000 + 100,000)
600,000₱
Accrued Expenses
50,000
Note Payable – due March 31, 2021
1,000,000
Note Payable – due May 1, 2021
800,000
Total Current Liabilities 2,450,000₱
Non-Current Liabilities
Bonds Payable
2,000,000₱
Total Non-Current Liabilities 2,000,000₱
PROBLEM 1-2
Current Liabilities
Accounts Payable
1,250,000₱
Notes payable
1,000,000
Credit Balances in Customer’s Accounts
200,000
Bond interest payable
150,000
Unearned rent income
100,000
Total Current Liabilities 2,700,000₱
PROBLEM 1-3
Accounts payable
6,500,000₱
Notes payable - bank
3,000,000
Interest Payable
150,000
Mortgage Payable - 10%
2,000,000
Bonds Payable
4,000,000
Total Current Liabilities 15,650,000₱
Republic of the Philippines
CENTRAL LUZON STATE UNIVERSITY
Science City of Muñoz, Nueva Ecija
Accounting 2200 – Intermediate Accounting 2
