Youngman Corporation has temporary differences at December 31, 2012, that result in the following deferred taxes. Deferred

Question:

Youngman has temporary differences at December 31, 2012, that result in the following deferred taxes.
Deferred tax asset .... $24,000
Deferred tax liability .. $69,000
Indicate how these balances would be presented in Youngman’s December 31, 2012, statement of financial position.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...