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please note that , we need to calculate total of current assests in statement of finacial position Polis Corp's trial balance at December 31,2020 is
please note that , we need to calculate total of current assests in statement of finacial position
Polis Corp's trial balance at December 31,2020 is properly adjusted corrept for the income taxc expence arfjustunent. Other financlal data for the vear ended December 31.2020 - Included in accounts recelvable is 5300000 due from a custamer and poryable in eaarterly instaiments of $45000, The last parment is due Decrenaber 29,2022 . - The balance in the future income tax fiability account inlates to a tenyorary difference that ar ose in a prior year. of which 315.000 in clasified as a current ilability. - During the Year, estimated tax payments of $390000 were char sed to income tax ecpente. The current and future tax rate on al trmes of income is 35 percent. In Polis December 91.2000 statement of francial position. the carmit assets total is 32.797.500 $2.247.509 52.973.500 $1.590000 Step by Step Solution
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