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The following trial balance of Comenius Universe Corp. at December 31, 2018 been nronerly adiusted excent for the income tax exnense adiustment. Other financial data
The following trial balance of Comenius Universe Corp. at December 31, 2018 been nronerly adiusted excent for the income tax exnense adiustment. Other financial data for the year ended December 31, 2018: - Included in accounts receivable is 250,000 due from a customer and payable in quarterly installments of 50,000. The last payment is due March 31, 2020. - The balance in the Deferred Income Tax Liability account pertains to a temporary difference that arose in a prior year, of which 20,000 is classified as a current liability. Instructions: Calculate the amount in for Current assets, current liabilities a retained earnings that will be reported on the balance sheet of Comenius Universe Inc.: a) total current assets, b) total current liabilities, c) the final retained carnings
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