Wall Company leased office premises to Fox, Inc. for a 4 year term beginning Janauary 2, 2020. Under the terms of the operating lease, rent for the first year is Php 216,000 and rent for years 2 through 4 is Php 337,500 per annum. However, as an inducement to enter the lease, Fox was allowed to use the leased asset rent-free for the first three months. 2. In its December 31, 2020 balance sheet of Wall Company, What amount should be reported as deferred tax liability? complete solution kamsa