Question
Port Deposit, Inc. reports the following deferred tax items at the end of 2016: Deferred Tax Account Account Balance Related Balance Sheet Account Accrual-based revenues
Port Deposit, Inc. reports the following deferred tax items at the end of 2016:
| Deferred Tax Account | Account Balance | Related Balance Sheet Account |
| Accrual-based revenues | $36,000 (cr.) | Accounts receivable |
| Depreciation | 15,000 (cr.) | Property, plant, and equipment |
| Assurance-type warranty costs | 10,000 (dr.) | Warranty liability |
| Rent revenue (long-term) | 16,000 (dr.) | Unearned rent |
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Financial Accounting
Authors: Warren, Reeve, Duchac
12th Edition
1133952410, 9781133952411, 978-1133952428
