For calendar 2017, its first year of operations, Lion Ltd. reported pre-tax accounting income of $100,000. Lion uses CCA for tax purposes and straight-line depreciation for financial reporting. The differences between depreciation and CCA over the five-year life of their assets, and the enacted tax rates for 2017 to 2021 are as follows: There are no other reversible differences. On Lion's December 31, 2017 statement of financial position, the deferred tax liability and the current income taxes payable should be

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For calendar 2017, its first year of operations, Lion Ltd. reported pre-tax accounting income of $100,000. Lion uses CCA for tax purposes and straight-line depreciation for financial reporting. The differences between depreciation and CCA over the five-year life of their assets, and the enacted tax rates for 2017 to 2021 are as follows:  There are no other reversible differences. On Lion's December 31, 2017 statement of financial position, the deferred tax liability and the current income taxes payable should be

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The Answer of For calendar 2017, its first year of operations, Lion Ltd. reported pre-tax accounting income of $100,000. Lion uses CCA for tax purposes and straight-line depreciation for financial reporting. The differences between depreciation and CCA over the five-year life of their assets, and the enacted tax rates for 2017 to 2021 are as follows:  There are no other reversible differences. On Lion's December 31, 2017 statement of financial position, the deferred tax liability and the current income taxes payable should be

For Calendar 2017, Its First Year of Operations, Lion Ltd