1.    Solar Sunny Corp. reported the following liability account balances on December 31 of the current year:

Accounts payable……………………………………………P   1,900,000

Bonds payable, due in two years.…………………………      3,400,000

Discount on bonds payable………………………………..     200,000

Deferred tax liability………………………………………..     400,000

Cash dividend payable…………………………………….       500,000

Income tax payable………………………………………….      900,000

Notes payable, due at the end of the succeeding year…          600,000

On December 1 of the current year, what at what amount should the current liabilities be  reported in the statement of financial position?

Answer rating: 100% (QA)

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