TB Problem $16-146($Algo$)$ Two independent situations are described...

Two independent situations are described below. Each involves future deductible amounts and$/$or future taxable amounts produced by temporary differences:

$\backslash$table$[[$SITUATION$,1,2],[$Taxable income,$ $46,600,$$ $86,000],[$Amounts at year$-$end:$],[$Future deductible anounts,$5,600,10,600],[$Future taxable amounts,e$,5,600],[$ealances at beginning of year, debit $($credit$)$:$],[$Deferred tax asset,$ $1,$eed,$ $3,18$e$],[$Deferred tax liability,${?}^e,1,$eee$]]$

The enacted tax rate is $30\%$ for both situations.

Required:

For each situation determine the following:

$\backslash$table$[[,$STUATION$],[1,2],[($a$)$ Income tax payable currently.,,$],[($b$)$ Deferred tax asset $-$ balance at year$-$end.,,$],[($c$)$ Deferred tax asset change debit or $($credif$)$ for the year.,,$],[($d$)$ Delerred tax liability $-$ balance at year$-$end.,,$],[($e$)$ Deferred tax liability change debit or $($credit$)$ for the year.,,$],[($f$)$ Income tax expense for the year.,,$]]$