After Applying the Balance Sheet Method to Determine the GAAP

question 34

Essay

After applying the balance sheet method to determine the GAAP income tax expense of Poppert Inc., the following account balances are found.Determine the balance sheet presentation of these amounts.Hint: Which of the accounts should you combine for the final balance sheet disclosure?
Deferred tax assets, current.................$500,000
Deferred tax assets, noncurrent...........145,000
Deferred tax liabilities, current............80,000
Deferred tax liabilities, noncurrent......310,000

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Definitions:

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A behavior therapy technique involving the conditioning of a desired response that is incompatible with an unwanted behavior.

Systematic Desensitization

A therapy technique used to reduce phobic responses and anxiety by gradual exposure to the feared object or situation while using relaxation methods.

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