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28 Sep 2019
Analysis Cases 16-8 Access the financial statements and relateddisclosure notes of Google Inc. from its website atinvestor.google.com. In Google's balance sheet, deferred incometaxes in 2010 are reported as both a current asset ($259 million)and a noncurrent asset ($265 million) but none amongliabilities.
Required: Explain why deferred income taxes can be reported asboth an asset and a liability. Is that the case for Google in2010?
Note 15 in the disclosure notes indicates that deferred taxassets are $1,221 million in 2010 and deferred tax liabilities are$405 million. How can that be explained in light of the two amountsreported in the balance sheet?
Does Google feel the need to record a valuation allowance forits deferred tax assets?
Analysis Cases 16-8 Access the financial statements and relateddisclosure notes of Google Inc. from its website atinvestor.google.com. In Google's balance sheet, deferred incometaxes in 2010 are reported as both a current asset ($259 million)and a noncurrent asset ($265 million) but none amongliabilities.
Required: Explain why deferred income taxes can be reported asboth an asset and a liability. Is that the case for Google in2010?
Note 15 in the disclosure notes indicates that deferred taxassets are $1,221 million in 2010 and deferred tax liabilities are$405 million. How can that be explained in light of the two amountsreported in the balance sheet?
Does Google feel the need to record a valuation allowance forits deferred tax assets?
Deanna HettingerLv2
28 Sep 2019