At December 31, 2012, Cascade Company had a net deferred tax liability of $450,000. An explanation of
Question:
In analyzing the temporary differences, you find that $30,000 of the depreciation temporary difference will reverse in 2013, and $120,000 of the temporary difference due to the installment sale will reverse in 2013. The tax rate for all years is 40%.
Instructions
Indicate the manner in which deferred taxes should be presented on Cascade Companys December 31, 2012, statement of financialposition.
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