Glare company PROBLEM 1-1

Accounts payable 1,250,000

Notes payable 1,000,000
Credit balances in customer's accounts 200,000
Serial bonds payable 1,000,000
Accrued interest on bonds payable 150,000
Unearned rent income 100,000
TOTAL CURRENT LIABILITIES 3,700,000

Easy company PROBLEM 1-2

Notes payable- trade 3,000,000

Notes payable- bank 2,000,000
Advances from customers 500,000
Accounts payable 4,000,000
Bank overdraft 300,000
Dividends payable 1,000,000
Withholding tax payable 100,000
Income tax payable 800,000
Estimated warranty liability 600,000
Estimated damages payable 700,000
Accrued liabilities 900,000
Estimated premium liability 200,000
TOTAL CURRENT LIABILITIES 14,100,000

Manchester company PROBLEM 1-3

Income taxes withheld from employees 900,000

Cash overdraft/ bank overdraft 1,300,000
Accounts receivable with credit balance 750,000
Estimated expense 500,000
Estimated damages 1,500,000
Accounts payable 3,000,000
Accrued interest on bonds payable 150,000
TOTAL CURRENT LIABILITIES 8,100,000

Multiple company PROBLEM 1-4

Accounts payable 600,000

Accrued liabilities 50,000
Note payable 1,000,000
Note payable 800,000
TOTAL CURRENT LIABILITIES 2,450,000
Cordillera company PROBLEM 1-5

Note payable -9 Current liability

Note payable -8 Current liability
Note payable -10 Noncurrent liabilty
Note payable - 11 Current liability

Cavalier company PROBLEM 1-6

Accounts payable 6,500,000

Notes payable- bank 3,000,000
Interest payable 150,000
Mortgage note payanle 2,000,000
Bonds payable 4,000,000
TOTAL CURRENT LIABILITIES 15,650,000

Burma company PROBLEM 1-7

Accounts payable 4,000,000

Accrued expenses 1,500,000
Credit balances of ustomer accounts 500,000
Estimated expenses 600,000
TOTAL CURRENR LIABILITIES 6,600,000

Garr company PROBLEM 1-8

Accounts payable 1,900,000

Premium on bonds payable 200,000

Deffered tax liability 400,000
Dividends payable 500,000
Income tax payable 900,000

TOTAL CURRENT LIABILITIES 3,900,000

Able company PROBLEM 1-9

14 30,000
11 1,100,000
7 -1,000,000
TOTAL CURRENT LIABILITIES 130,000

Achilles company PROBLEM 1-10

 12 5,000,000

Eliot company PROBLEM 1-11

12 1,000,000
Accrued interest 500,000
TOTAL CURRENT LIABILITIES 1,500,000

Largo company PROBLEM 1-12

750,000

Dean company PROBLEM 1-13

Note payable 2,000,000

Refinance -1,200,000
CURRENT LIABILITY 800,000

Willem company PROBLEM 1-14

Accounts payable 750,000

Short-term borrowings 400,000
Bank loan payable 1,000,000
TOTAL CURRENT LIABILITIES

Willem company PROBLEM 1-15

Accounts payable 750,000
Short term 400,000

Greene company PROBLEM 1-16

Unearned contract revenue 600,000

Cash recipts 980,000
Service recognized -860,000
Unearned contract revenue 720,000

Ryan compny PROBLEM 1-17

Unearned contract revenue

2022 150,000
2023 225,000
2024 100,000
UNEARNED CONTRACT REVENUE 475,000
Why? Kase semi-annual kaya times 2 ang 500,000

FORMULA: 5,000,000 X .12 X 3/12

Bonds payable 2,000,000

TOTAL NONCURRENT LIABILITIES 2,000,000
c
C

D
.8 x 1,500,000