The following case deals with the recognition of a DTA, a DTL, and the determination of whether a valuation allowance is needed.
The basic assumptions and facts are as follows:

Required 

Complete the worksheet that follows to measure the deferred tax accounts and complete the reporting information, the disclosure information, and prepare the adjusting journal entry for the end of the period.

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. This is a public business entity that has adopted FASB ASU No. 2015-17. The company measures its DTAs at the end of its current fiscal year. Capital gains may be offset by operating loss and tax credit carryforwards. The enacted tax rate is 21% for all years. There is no limitation on the use of tax credits to offset taxes payable. The net DTA and net DTL had balances of $700 and $60, respectively, at the start of the current year. Tax-exempt interest is $1,000 in the current year. The enterprise has identified the following types and amounts of existing temporary differences,