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Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences (S in thousands) Situation oints 105

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Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences (S in thousands) Situation oints 105 $255 $245 $320 Taxable income Future deductible amounts Future taxable anounts Balance(s) at beginning of the year: 25 20 204 20 25 14 6 Deferred tax asset Deferred tax 11ability The enacted tax rate is 40%. Required For each situation, determine the following: (Enter your answers in thousands rounded to one decimal place (l.e. 1,200 should be entered as 1.2). Negative amounts should be indicated by a minus sign. Leave no cell blank, enter "O" wherever applicable.) Answer is not complete. Situation income tax payable curenty 4200$10200 80 $12800 S11005 80 1600 b. Deferred tax asset--balance c Deferred tax asset--change d Deferred tax lability-balance e Delerred tax lability-change t Income tax expense

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