Find How will company report deferred tax on balance sheet

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Crystal Critters, Inc., a U.S. GAAP reporter, has the deferred tax assets and liabilities presented below:

Item                     Classification on the Balance Sheet of Related Account            Deferred Tax Associated
                                                                                                                                               with Item

Excess of warranty expense over warranty deductions - Current -                        $ 68, 000 Asset
Accelerated depreciation for tax purposes - Noncurrent -                                   $ 78, 000 Liability
Installment sales receivable - Current -                                                          $ 38, 000 Liability
Contingent liability - Current -                                                                             $ 28, 000 Asset

Problem 1: Assuming it meets the conditions to net assets and liabilities, how will the company report deferred taxes on the balance sheet?

Reference no: EM132823981

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