Question
Pronghorn Corporation has temporary differences at December 31, 2017, that result in the following deferred taxes. Deferred tax liability related to depreciation difference $39,600 Deferred
Pronghorn Corporation has temporary differences at December 31, 2017, that result in the following deferred taxes.
Deferred tax liability related to depreciation difference | $39,600 | |
Deferred tax asset related to warranty liability | 59,100 | |
Deferred tax liability related to revenue recognition | 88,800 | |
Deferred tax asset related to litigation accruals | 28,400 |
Indicate how these balances would be presented in Pronghorns December 31, 2017, balance sheet.
Pronghorn Corporation Balance Sheet (Partial) December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 | ||||||
Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsNon-current LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity | ||||||
$ |
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