The following information pertains to Malabon Company as at September 30, 2006: a) Notes payable -...

 

Transcribed Image Text:

The following information pertains to Malabon Company as at September 30, 2006: a) Notes payable - bank, P3,500 b) Accounts payable arising from purchase of goods, P112,500 c) Dividends in arrears on preference shares, not yet declared, P25,000 d) Share dividends payable, P20,000 Income tax payable, P13,400 e) f) Accrued liabilities, P4,200 g) Mortgage payable, P225,000 h) Customers' deposits, P8,900 i) Reserve for contingencies, P25,000 Based on the above data, what is the total amount of actual liabilities to be reported on the balance sheet of September 30, 2006? P367,500 P297,500 c. P437,500 d. P376,500 a. b. The following information pertains to Malabon Company as at September 30, 2006: a) Notes payable - bank, P3,500 b) Accounts payable arising from purchase of goods, P112,500 c) Dividends in arrears on preference shares, not yet declared, P25,000 d) Share dividends payable, P20,000 Income tax payable, P13,400 e) f) Accrued liabilities, P4,200 g) Mortgage payable, P225,000 h) Customers' deposits, P8,900 i) Reserve for contingencies, P25,000 Based on the above data, what is the total amount of actual liabilities to be reported on the balance sheet of September 30, 2006? P367,500 P297,500 c. P437,500 d. P376,500 a. b.

Answer rating: 100% (QA)

Note payable bank Accounts payab... View the full answer