four independent situation are descried below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences.

1 2 3 4

Taxable Income 113 271 265 344

Future deductible 22 - 27 27

Future tax amount - 22 22 44

Balance at beginning of the year

Deferred tax asset 3.4 - 16 6.8

Deferred tax liability - 3.4 3.4 -

The enacted tax rate is 40%

Requirement:

For each situation determine the following 1 2 3 4

income tax payable currently

deferred tax asset balance

deferred tax asset change

deferred tax liability balance

deferred tax liability change

income tax expense