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How much is the total liabilities to be reported

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Reference no: EM132630020

Question - These are some information for the balance sheet as of December 31, 2019 of MUST Corp.

Accounts payable, consisting of purchase of goods, P278,000 and cost of goods received on consignment of P22,000,total P300,000

Income tax due for 2019, (due and paid in the three (3) quarters of 2019, P87,500) 122,500

Stock dividends payable 60,000

Accrued expenses 7,800

Reserve for contingencies 20,000

Overdraft in Security Bank checking account 6,200

Based on the above information, how much is the total liabilities to be reported in the balance sheet as of December 31, 2019 of MUST Corp.?

Reference no: EM132630020

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