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PROBLEMS Problem 1-1 (IAA) mber 31, 2019, Glare Company provided the fol owin information: Accounts payable, including deposits and advances Notes payable, including note payable to bank dueo1,250,000 1,500,000 from customer of P250,000 December 31, 2021 of P500,000 Share dividend payable Credit balances in customers' accounts Serial bonds payable in semiannual installment 400,000 200,000 of P500,000 Accrued interest on bonds payable Contested BIR tax assessment-possible obligation Unearned rent income 5,000,000 150,000 000 100,000 300 Required: Compute the total current liabilities on December 31, 2019. Problem 1-2 (IAA) Easy Company provided the following information on December 31, 2019: Notes payable: Trade 3,000,000 2,000,000 500,000 4,000,000 300,000 1,000,000 100,000 3,800,000 800,000 Bank loans Advances from officers Accounts payable - trade Bank overdraft Dividends payable Withholding tax payable Mortgage payable Income tax payable Estimated warranty liabilit Accrued liabilities damages payable by reasoi of breach of contract 700,000 900,000 200,000 Estimated premium liability laim for increase Conpeding lawsuin wages by employees covered in a Required: Compute the total pending lavwsuin wages by employees covered ina 3 3,500,000 5,000,000 into for the construction of building current liabilities on December 31, 2019. liabilities

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