Business
Business, 04.10.2019 19:20, dbhuggybearow6jng

The following trial balance of reese corp. at december 31, 2020 has been properly adjusted except for the income tax expense adjustment. reese corp. trial balance december 31, 2020 dr. cr. cash $ 875000 accounts receivable (net) 2695000 inventory 2085000 property, plant, and equipment (net) 8269000 accounts payable and accrued liabilities $ 1761000 income taxes payable 654000 deferred income tax liability 85000 common stock 235 additional paid-in capital 368 retained earnings, 1/1/20 349 net sales and other revenues 1356 costs and expenses 1118 income tax expenses 476000 $2558 $2558 included in accounts receivable is $12 due from a customer and payable in quarterly installments of $15. the last payment is due december 29, 2022. in reese's december 31, 2020 balance sheet, the current assets total is:

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