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The following trial balance of Carla Vista Co. at December 31, 2020 has been properly adjusted except for the income tax expense adjustment. Carla Vista
The following trial balance of Carla Vista Co. at December 31, 2020 has been properly adjusted except for the income tax expense adjustment. Carla Vista Co. Trial Balance December 31, 2020 Dr. Cash $ 874500 Accounts receivable (net) 2692000 Inventory 2080000 7569000 Property, plant, and equipment (net) Accounts payable and accrued liabilities Income taxes payable Deferred income tax liability Common stock Additional paid-in capital Retained earnings, 1/1/20 Net sales and other revenues Costs and expenses Income tax expenses 11150000 509000 $24874500 Included in accounts receivable is $1200000 due from a customer and payable in quarterly installments of $150000. The last payment is due December 29, 2022. In Carla Vista's December 31, 2020 balance sheet, The current assets total is $5646500. $5496500. $5046500. $6155500
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