At December 31, 2017, Bren Co. has the following deferred income tax items: • A

Question

At December 31, 2017, Bren Co. has the following deferred income tax items: • A deferred income tax liability of $15,000 related to a non-current asset • A deferred income tax asset of $3,000 related to a non-current liability • A deferred income tax asset of $8,000 related to a current liability Which of the following should Bren report in the non-current section of its December 31, 2017 balance sheet?

A) A non-current liability of $4,000.

B) A non-current asset of $11,000 and a non-current liability of $15,000.

C) A non-current liability of $12,000.

D) A non-current asset of $3,000 and a non-current liability of $15,000.

Explanation / Answer

A non-current liability of $12,000 (15000-3000) Option C is correct

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