Chapter 17, Problem 17.24BE

To determine

To calculate: The amount of deferred tax assets and liabilities.

Given information:

Receivables from installment sales are a current account and treated as a liability is of $55,000.

Depreciation on equipment is a non current account and treated as an asset of $64,000.

Expense on warranty liability is a current account and treated as a liability of $2,000.

Carry forward of net operating loss is a non current and treated as an asset of $120,000