Exercise 19-7 Your answer is partially correct. Try again. Complete the following statements by filling in the blanks. In a period in which a taxable temporary difference reverses, the reversal will cause taxable income to be greater than pretax financial income If a $73,000 balance in Deferred Tax Asset was computed by use of a 40% rate, the underlying cumulative temporary difference amounts to are not Deferred taxesae recorded to account for permanent differences less than If a taxable temporary difference originates in 2017, it will cause taxable income for 2017 to be pretax financial income for 2017 benefitof If total tax expense is $51,100 and deferred tax expense is $62,800, then the current portion of the expense computation is referred to as current tax (f) If a corporation's tax return shows taxable income of $100,100 for Year 2 and a tax rate of 40%, how much will appear on the December 31, Year 2, balance sheet for "Income taxes payable if the company has made estimated tax payments of $34,700 for Year 2? debit # An increase in the Deferred Tax Liability account on the balance sheet is recorded by a eDIt to the Income Tax Expense account. An income statement that reports current tax expense of $82,100 and deferred tax benefit of $23,600 will report total income tax expense of more likely than not 11not be A valuation account is needed whenever it is judged to be that a portion of a deferred tax asset realized - (j) If the tax return shows total taxes due for the period of $76,400 but the income statement shows total income tax expense of $52,400, the difference of $24,000 is referred to as deferred tax benefit