completion. At December 31, 2018, Control Enterprises had the following deferred

Question

completion. At December 31, 2018, Control Enterprises had the following deferred income tax items: Deferred income tax liability of $24 million related to a current asset Deferred income tax asset of $18 million related to a current liability Deferred income tax liability of $40 million related to a noncurrent asset Deferred income tax asset of $12 million related to a noncurrent liability Control Enterprises should report in its December 31, 2018, balance sheet a: Multiple Choice Noncurrent asset of $30 million and a non-current liability of $64 million. Current asset of $6 million. Noncurrent asset of $28 million and a non-current liability of $15 million.

Explanation / Answer

Answer:

B) Current asset of $6 million

Explanation to the answer:

in the balance sheet the Current assets at December 31

= $24 million – $18 million

= $6 million.

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.