RLand and buildings 2 904 000Debtors control 264 656Creditors control 601 880Mortgage loan 1 000 000Inventories 437 540Vehicles at carrying amount1 645 076Cash 215 636Accrued expenses 24 980Equipment at carrying amount 363 364Investment in a fixed deposit 562 984Income received in advance9 140Prepaid expenses 8 000 What is the total amount for current liabilities?Select one:a.R601 880b.R644 000c.R619 020d.R636 000
Question
RLand and buildings 2 904 000Debtors control 264 656Creditors control 601 880Mortgage loan 1 000 000Inventories 437 540Vehicles at carrying amount1 645 076Cash 215 636Accrued expenses 24 980Equipment at carrying amount 363 364Investment in a fixed deposit 562 984Income received in advance9 140Prepaid expenses 8 000 What is the total amount for current liabilities?Select one:a.R601 880b.R644 000c.R619 020d.R636 000
Solution 1
The total amount for current liabilities can be calculated by adding Creditors control, Accrued expenses, and Income received in advance.
Creditors control: R601 880 Accrued expenses: R24 980 Income received in advance: R9 140
Total current liabilities = R601 880 + R24 980 + R9 140 = R636 000
So, the correct answer is d. R636 000.
Solution 2
The total amount for current liabilities can be calculated by adding up the Creditors control, Accrued expenses, and Income received in advance.
Creditors control: R601 880 Accrued expenses: R24 980 Income received in advance: R9 140
So, the total amount for current liabilities is R601 880 + R24 980 + R9 140 = R636 000
Therefore, the correct answer is d. R636 000.
Similar Questions
Calculate NON-CURRENT LIABILITIES Cash 25,450Accounts Receivable 25,500Inventory 85,000Prepaid Expenses 4,950Motor vehicle 68,000Equipment 155,000Accounts Payable 35,000Unearned Revenue 8,000Wages Payable 15,000Bank Loan 50,000Share Capital 235,000Retained Earnings 10,000Dividends -5,000Revenue 53,650Cost of Sales -12,450Wages Expense -15,000Interest expense -2,500Marketing expense -2,800Insurance expense -5,000
The following information details to KIWI Company as of December 31, 2022Accounts Payable P540,000Unearned rent income 21,000Bonds Payable due on 12/31/2025 4,000,000Accrued interest on bonds payable 30,000Accrued Salaries expense 20,000Notes Payable including note payable to bank 12/31/2022 950,000How much is the current liabilities?Group of answer choices5,101,0001,021,0001,561,0004,000,000
QUESTION 03 bookmark_border Select the correct answer Pravin borrowed a sum of money and returned it in three equal quarterly instalments of Rs. 17576 each. Find the sum borrowed, if the rate of interest charged was 16% per annum compounded quarterly. radio_button_unchecked 46900 radio_button_unchecked 48775 radio_button_unchecked 68320 radio_button_unchecked None
If assets are $253,099 and equity is $136,586, liabilities must be:
Which of the following is incorrect?. The arrangement are done in terms of Assets Liabilities and Capital respectively? A. 8,200 2,800 5,400 B. 9,550 1,150 8,200 C. 7,850 1,250 6,600 D. 6,540 1,120 5,420
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.