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At December 3 1 , 2 0 2 2 , Blossom Corporation had a temporary difference ( related to pensions ) and reported a related

At December 31,2022, Blossom Corporation had a temporary difference (related to pensions) and reported a related deferred tax
asset of $30,600 on its balance sheet. At December 31,2023, Blossom has five temporary differences. An analysis reveals the
following:
Temporary Difference
Pension liability: expensed as incurred on the books; deductible when funded for tax purposes
Royalties collected in advance: recognized when earned for accounting purposes and when received for tax purposes
Accrued liabilities: various expenses accrued for accounting purposes and recognized for tax purposes when paid
Deferred gross profit: profits recognized on instalment sales when sold for book purposes, and as collected for tax purposes
Equipment: straight-line depreciation for accounting purposes, and CCA for tax purposes
The enacted tax rate has been 30% for many years. In November 2023, the rate was changed to 28% for all periods after January 1,
Assume that the company has income tax due of $180,100 on the 2023 tax return and that Blossom follows IFRS. (a)
Indicate how deferred taxes should be presented on Blossom's December 31,2023 SFP.
BLOSSOM CORPORATION
(Partial) Balance Sheet
December 31,2023
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