Problem:
Dr Cr M$ M$ Trade payables 156,800 Loan (repayable in more than one year 320,000 Lease liability (amount due within one year) 65,200 Lease liability (amount due in more than one year) 197,750 Income tax liability 87,900 Overdraft 45,250 Revaluation surplus 50,000 MQU operates in M-land where the currency is the M$. An extract from the company's trial balance at the reporting date is shown below: What are the amounts for non-current and current liabilities at the reporting date? Solution
A. Non-current liabilities M$567,750. Current liabilities M$487,700
B. Non-current liabilities M$517,750. Current liabilities M$487,700
C. Non-current liabilities M$517,750. Current liabilities M$355,150
D. Non-current liabilities M$567,750. Current liabilities M$355,150