At December 31, 2018, Moonlight Bay Resorts had the following deferred income tax items: Deferred tax asset of $54 million related to a current liability
Deferred tax asset of $36 million related to a noncurrent liability
Deferred tax liability of $120 million related to a noncurrent asset
Deferred tax liability of $72 million related to a current asset
Moonlight Bay should report in its December 31, 2018, balance sheet a:
A) Noncurrent deferred tax asset of $90 million and a non-current deferred tax liability of $192 million.
B) Current deferred tax liability of $18 million.
C) Noncurrent deferred tax asset of $84,000 and a non-current deferred tax liability of $45 million.
D) Noncurrent deferred tax liability of $102 million.
Correct Answer:
Verified
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