Question: Darrell Corporation reports under IFRS and at December 31 2012

Darrell Corporation reports under IFRS and at December 31, 2012, the company had a net future tax liability of $375,000. An explanation of the items that make up this balance follows:
Instructions
(a) Indicate how future taxes should be presented on Darrell Corporation’s December 31, 2012 balance sheet.
(b) How would your response to (a) change if Darrell Corporation followed the PE GAAP future income taxes method?

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  • CreatedAugust 23, 2015
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