Youngman Corporation has temporary differences at December 31, 2020, that result in the following deferred taxes. Deferred

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Youngman Corporation has temporary differences at December 31, 2020, 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, 2020, 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...
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Intermediate Accounting

ISBN: 978-1119503668

17th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel

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