Quiz 16.106 – Webnet Inc.

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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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?

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