Balance Sheet Presentation
Solve the following problem:
The Thiel Company reports the following deferred tax items at the end of 2010:
|
Deferred Tax
Item
|
Account
Balance
|
Related Asset
or Liability
|
|
1
|
$ 7,200 credit
|
Current asset
|
|
2
|
6,700 debit
|
Current liability
|
|
3
|
15,500 credit
|
Noncurrent asset
|
|
4
|
10,600 debit
|
Noncurrent liability
|
Required:
Show how the preceding deferred tax items are reported on the Thiel Company's December 31, 2010 balance sheet.