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Liabilities Practice test with solution

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Practice test for Liabilities with solution

Institution
Notre Dame Of Dadiangas University
Course
Accountancy (ACC221)

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Pido, Rea Lee Joy U. 12/04/21


Accounts payable P 270,000
Mortgage notes payable 1,300,000
Current portion of bank notes payable 100,000
Interest payable 7,500
Liability for damages 750,000
(600,000 + 900,000)/2
Value added tax payable 288,000
Income tax payable 315,000
SSS premiums payable 95,000
(45,000 + 50,000)
PhilHealth contributions payable 50,000
(22,000 +28,000)
Pag-ibig contributions payable 38,000
(18,000+20,000)
Withholding tax payable 120,000
Total current liabilities P 3,333,500
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Institution
Notre Dame Of Dadiangas University
Course
Accountancy (ACC221)
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Number of pages
1
Written in
2020/2021
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Subjects

  • liabilities
  • accounting
  • intermediate accounting
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