In 2016, Moody Corporation Recorded the Following Deferred Tax Assets

question 12

Essay

In 2016, Moody Corporation recorded the following deferred tax assets and liabilities:
All of the deferred tax accounts relate to temporary differences that result from the company's U.S. operations. Moody wants to minimize the number of deferred tax accounts it reports on the balance sheet. What is the minimum number of deferred tax accounts Moody can report on its balance sheet and what are the names and dollar amounts in each account, assuming Moody early adopts ASU 2015-17?

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Definitions:

Differential Economic Success

Variations in the levels of economic prosperity achieved by different groups or individuals, often influenced by factors such as education, social capital, and discrimination.

Ethnic Groups

Communities or populations that share a common cultural background, heritage, language, or religion, and are often distinguished by social, cultural, or national boundaries.

Structural Conditions

The institutional and societal systems, arrangements, and frameworks that shape individual and group behaviors and opportunities.

Multiculturalism

The co-existence of diverse cultures, where culture includes racial, religious, or cultural groups and is manifested in customary behaviors, cultural assumptions and values, patterns of thinking, and communicative styles.