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What amount should be reported as noncurrent deferred tax

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Reference no: EM132873191

Thorn company reported the following tax effects of temporary differences on December 31, 2017:

Deferred tax asset (liability) Related asset classification

Accumulated tax depreciation (75,000) non current

Additional cost in inventory 25,000 current for tax purpose

Question 1: The entity anticipated that 10,000 of the deferred tax liability will reverse in 2018. On December 31,2017, what amount should be reported as noncurrent deferred tax liability?

Reference no: EM132873191

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