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a: Tyrell Corp. has no book/tax differences, and reports the following income/(loss) results. 2021 ($418,000) 2022 $130,000 2023 $804,000 Tyrell uses the NOL carryforward provision

a: Tyrell Corp. has no book/tax differences, and reports the following income/(loss) results. 2021 ($418,000) 2022 $130,000 2023 $804,000 Tyrell uses the NOL carryforward provision whenever possible, and the tax rate for all years is 27%. What amount will Tyrell report as a deferred tax asset on its December 31, 2022 balance sheet?

b: Companies should classify deferred tax accounts on the balance sheet as current assets or current liabilities. True or False

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