Quiz 16.106 – Webnet Inc.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given that Webnet Inc. has $6 million of tax depreciation in excess of depreciation in its income statement on its tax return, and $1 million of the $6 million difference will reverse itself next year, while the remainder will reverse over the next 4 years with no other temporary differences, how should deferred income taxes be reported in the balance sheet at the end of the current year?