Current Attempt in Progress

Cullumber Corp. reported the following differences between SFP carrying amounts and tax bases at December $31,2022$:

The differences between the carrying amounts and tax bases were expected to reverse as follows:

Tax rates enacted at December $31,2022$ were $33\backslash \%$ for $2022,32\backslash \%$ for $2023,31\backslash \%$ for $2024,$ and $30\backslash \%$ for $2025$ and later years.

During $2023,$ Cullumber made four quarterly tax instalment payments of $\backslash (\backslash$$ $7,500\backslash )$ each and reported income before income tax on its income statement of $\backslash (\backslash$$ $110,300\backslash ).$ Included in this amount were dividends from taxable Canadian corporations of $\backslash$$$3,900($non$-$taxable income$)$ and $\backslash (\backslash$$ $19,000\backslash )$ of expenses related to the executive team's golf dues $($non$-$tax$-$deductible expenses$).$ There were no changes to the enacted tax rates during the year.

As expected, book depreciation in $2023$ exceeded the capital cost allowance claimed for tax purposes by $\backslash (\backslash$$ $17,500\backslash ),$ and there were no additions or disposals of property, plant, and equipment during the year. A review of the $2023$ activity in the Warranty Liability account in the ledger indicated the following:

All warranties are valid for one year only. The Pension Liability account reported the following activity:

Pension expenses are deductible for tax purposes, but only as they are paid to the trustee, not as they are accrued for financial reporting purposes.

Cullumber reports under IFRS.

$($a$)$

Calculate the Deferred Tax Asset or Deferred Tax Liability account at December $31,2022.$

Deferred tax

eTextbook and Media

List of Accounts