Carla Vista Corporation has temporary differences at December 31, 2025, that result in the following deferred taxes.Deferred tax liability related to depreciation difference$39,100Deferred tax asset related to warranty liability56,700Deferred tax liability related to revenue recognition91,300Deferred tax asset related to litigation accruals28,600Indicate how these balances would be presented in Carla Vista's December 31, 2025, balance sheet.CARLA VISTA CORPORATIONBalance Sheet (Partial)$

1] A deferred tax asset is a business tax credit for future taxes, and a deferred tax liability…

Answered: Carla Vista Corporation

Business

Accounting

Carla Vista Corporation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Carla Vista Corporation has temporary differences at December 31, 2025, that result in the following deferred taxes.
Deferred tax liability related to depreciation difference
$39,100
Deferred tax asset related to warranty liability
56,700
Deferred tax liability related to revenue recognition
91,300
Deferred tax asset related to litigation accruals
28,600
Indicate how these balances would be presented in Carla Vista's December 31, 2025, balance sheet.
CARLA VISTA CORPORATION
Balance Sheet (Partial)
$

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