## Question

###### Question 8 Flint Corporation has historically followed ASPE, but is considering a change to IFRS. It...

Question 8 Flint Corporation has historically followed ASPE, but is considering a change to IFRS. It has temporary differences at December 31, 2020, that result in the following SFP future income tax accounts: Deferred tax liability, current Deferred tax asset, current Deferred tax liability, non-current Deferred tax asset, non-current $30,600 $50,500 $91,000 $23,700 (a) Your answer is correct. Indicate how these balances will be presented in Flint's December 31, 2020 SFP, assuming that Flint reports under the ASPE future income taxes method. Flint Corporation (Partial) Statement of Financial Position December 31, 2020 Current Assets T Future Tax Asset 19,900 "Long-Term Liabilities T Future Tax Liability 67,300

(b) Indicate how these balances will be presented in Flint's December 31, 2020 SFP, assuming that Flint follows IFRS for reporting purposes. FlintCorporation (Partial) Statement of Financial Position December 31, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT

## Answers

#### Similar Solved Questions

1 answers

##### Chapter 21 Cash Budget Problem Dexter Morgan sells knives. His private business must maintain $50,000 cash...

Chapter 21 Cash Budget Problem Dexter Morgan sells knives. His private business must maintain $50,000 cash at year- end, so he has a revolving loan agreement with Miami Metro Bank to borrow cash when the preliminary cash balance at the end of the month falls below $50,000, and to repay the loan when...

1 answers

##### Advances in tax software such as TurboTax influenced the income tax preparer market in the following...

Advances in tax software such as TurboTax influenced the income tax preparer market in the following way: O The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. O The supply for income tax prepare...

1 answers

##### 8. Initially, 1 mole of the real gas is contained in a thermally insulated piston-cylinder arrangement...

8. Initially, 1 mole of the real gas is contained in a thermally insulated piston-cylinder arrangement in an initial state (T1, P1, Vi ). 1 mole of the real gas that is expressed by the following equation of state under the investigation. Now, the gas is expanded so as to fill the final state of (T2...

1 answers

##### Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information...

Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed below) The following financial statements and additional Information are reported. IKTBAN INC Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 $ 87,se...

1 answers

##### Explain how the pKa of an amino acid can differ depending on its chemical environment, either...

Explain how the pKa of an amino acid can differ depending on its chemical environment, either aqueous or hydrophobic. Consider both and acidic and basic amino acid in your explanation. (one page)....

1 answers

##### 18. When the Net Present Value (NPV) of an investment is zero, which of the following...

18. When the Net Present Value (NPV) of an investment is zero, which of the following statements is true: a. The required rate of return has not been achieved b. The discount rate is the rate of return achieved in the investment c. The investment is achieving a nil return d. Cashflows are insufficie...

1 answers

##### The nurse note when a loud noise , an infant throws out their arms and then...

the nurse note when a loud noise , an infant throws out their arms and then brings them quickly back to the flexed position A. Positive Babinski response B. Positive Moro sign C. Nuchal Rigidity D. Hyperreflexia . how would the nurse document hard bumps on the proximal interphalangeal joints in pati...

1 answers

##### If #-3/8 <= m/-2 + 8<=7#, what is a possible value of #4m-2#?

If #-3/8 <= m/-2 + 8<=7#, what is a possible value of #4m-2#?...

1 answers

##### How do you write an equation of the line in point slope form with (–1, –3) and (4, 1)?

How do you write an equation of the line in point slope form with (–1, –3) and (4, 1)?...

1 answers

##### Question 13 (1 point) How many critical numbers does the function f(x) = 2x - 3x2...

Question 13 (1 point) How many critical numbers does the function f(x) = 2x - 3x2 + 4 have? 3 2 0 Question 14 (1 point) The vertical asymptotes of X are f(x) = O x=2 and x = 1 Oy= 0 and x = 2 x = 2 and x = -2 x= 0 and x = 2...

1 answers

##### How much ampicillin will you need to make 5 ml of a 1000x solution? Given that...

how much ampicillin will you need to make 5 ml of a 1000x solution? Given that the working solution (1x) is 50 ug/ml?...

1 answers

##### The cable that suspends the 168 kg mass wraps over the pulley with center C and...

The cable that suspends the 168 kg mass wraps over the pulley with center C and tles off at E. The pulley has negligible radius. (Assume that the +x-axis is to the intermediate values in your calculations-including answers submitted in WebAssign.) 168 kg 1.2 m - Determine the force that pin A exerts...

1 answers

##### 6 12. (6 points) Baby Madeleine was born 10 years ago weighing 4 pounds 12 ounces and measuring 19 inches in length. Since then she has visited the pediatrician regularly, and the data collected from...

6 12. (6 points) Baby Madeleine was born 10 years ago weighing 4 pounds 12 ounces and measuring 19 inches in length. Since then she has visited the pediatrician regularly, and the data collected from these visits is modeled by the graph below The horizontal axis shows time in years and the vertical ...

1 answers

##### The specific heat of respectively, determ the room is well sea FIGURE P4-33 4-34E A rigid...

the specific heat of respectively, determ the room is well sea FIGURE P4-33 4-34E A rigid 1-ft3 vessel contains R-134a originally at -20°F and 27.7 percent quality. The refrigerant is then heated until its temperature is 100°F. Calculate the heat transfer required to do this. Answer: 84.7 Bt...

1 answers

##### Please answer all but 3 and 4 are most confusing, especially 4 Part I – Infertility...

please answer all but 3 and 4 are most confusing, especially 4 Part I – Infertility Issues Jane sat nervously in the examination room. She had no idea what to expect. Her husband, Brian, gave her a reassuring smile and squeezed her hand. Th ere was a knock on the door and then it opened to adm...

1 answers

##### A long-shunt compound generator running at 1000 r.p.m. supplies 22 kW at a terminal voltage of...

A long-shunt compound generator running at 1000 r.p.m. supplies 22 kW at a terminal voltage of 220 V. The resistance of the armature, shunt field and series field are 0.05 Ω, 110 Ω, and 0.06 Ω respectively. The overall efficiency at the above load is 88 %. Find (i) Cu losses (ii) i...