O. 5500 At December 31, 20X4, Bren Cohad the following deterred income tax items: A deferred income tax liability of $15,000 related to a noncurrent asset A deferred income tax asset of $3,000 related to a noncurrent liability A deferred income tax asset of $8,000 related to a current liability Which of the following should ren report as the noncurrent item(s) on its December 31, 20x4 balance sheet? Select one: O a $12.000 net Liability O b. 515.000 Asset. $3.000 Liability O c511000 net Asset O d. 54.000 net Liability O e $3.000 net Liability A deferred tax valuation allowance account is used to recognize a reduction in Select one: O a. A deferred tax liability only O b. Income tax expense O c. Both a deferred tax asset and a deferred tax liability O d. A deferred tax asset only Given the following for the XYZ Company Year 2020 2021 Pre-Tax Net Income (Loss) $10,000 8.000 (16,000) 12,000 Tax Rate 20% 20% 20% 20% 2022 2023 Futute income is not more likely than not. Reported 2022 Net Loss ist Select one : $16,400 O b.515.000 Od 516,000 O d. 54000 Qe $20.000 Given the following data determine the appropriate lease classification Asset FMV and book value $40,000 Lease term 11 months Asset life 14 months Guaranteed salvage value $5,000 Lessee's estimated salvage value $3,000 No Bargain Purchase Option or Title Transfer Two-month Renewal Option exists, lessee reasonably certain to renew. Present value of lease payments 63% of Asset FMV. Lessor has foreseeable alternative use for asset Select one: a. Short-term lease Ob Finance lease c. Operating lease Given the following for the QRS Company Year 2020 2021 2022 2023 Pre-Tax Net Income (Loss) $10,000 8,000 (20,000) 12,000 Tax Rate 20% 20% 20% 20% Future income is probable. The 2023 Net Income is: Select one: a $12.000 O b. 52.000 Oc$9.600 d. $8,000 O e. 50