At the most recent year-end, a company had a deferred income tax liability arising from accelerated depreciation
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Question:
income tax liability arising from accelerated depreciation that
exceeded a deferred income tax asset relating to rent received in
advance which is expected to reverse in the next year. Which of
the following should be reported in the company?s most recent
year-end balance sheet?
The excess of the deferred income tax liability over the
deferred income tax asset as a noncurrent liability.
The excess of the deferred income tax liability over the
deferred income tax asset as a current liability.
The deferred income tax liability as a noncurrent liability.
The deferred income tax liability as a current liability.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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