Question

Balance Sheet Presentation

Thiel Company reports the following deferred tax items at the end of 2016:

Deferred Tax Item #	Account Balance		Related Asset or Liability
1	$5,700	debit	Current asset
2	8,100	credit	Current liability
3	12500	debit	Noncurrent asset
4	17100	credit	Noncurrent liability

Show how the preceding deferred tax items are reported on Thiel's December 31, 2016, balance sheet.

THIEL COMPANY
Balance Sheet (Tax Items)
December 31, 2016
Current Liabilities
Deferred tax liability (net)	$
Noncurrent liabilities
Deferred tax liability (net)	$

Answer 1