Balance Sheet Presentation Thiel Company reports the following deferred tax items at the end of...
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Accounting
Balance Sheet Presentation
Thiel Company reports the following deferred tax items at the end of 2019:
| Deferred Tax Item # | Account Balance | Related Asset or Liability Creating the Deferred Tax Item | |
|---|---|---|---|
| 1 | $5,500 | debit | Current asset |
| 2 | 8,000 | credit | Current liability |
| 3 | 10,800 | debit | Noncurrent asset |
| 4 | 16,900 | credit | Noncurrent liability |
Required:
Show how the preceding deferred tax items are reported on Thiel's December 31, 2019, balance sheet.
| Noncurrent Liabilities | |
| Deferred tax asset (net)Deferred tax liability (net) | $- Select - |
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