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What amount should be reported as noncurrent deferred tax

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Reference no: EM132678231

Problem 1: Thorn Company reported the following tax effect of temporary differences at year-end:Deferred tax asset (liability): A. Accelerated tax depreciation - (75,000), Related asset classification - Noncurrent. B. Additional cost in inventory for tax - 25,000, Related asset classification - Current. What amount should be reported as noncurrent deferred tax liability at year-end?

a. 40,000

b. 50,000

c. 65,000

d. 75,000

Problem 2: what amount should be reported as noncurrent deferred tax asset at year-end?

a. 25,000

b. 50,000

c. 10,000

d. 0

Reference no: EM132678231

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