How to record deferred tax assets and liabilities


Response to the following problem:

Barth James, Inc., has the following deferred tax assets and liabilities: $5,000 current deferred tax asset, $12,000 noncurrent deferred tax asset, $8,000 current deferred tax liability, and $10,500 noncurrent deferred tax liability.

Show how Barth James, Inc., would report these deferred tax assets and liabilities on its balance sheet.

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Taxation: How to record deferred tax assets and liabilities
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