@MaLoTu
I think I remember this question from Becker based on the explanation you copied just now. I had trouble understanding the way they explained it with adding up the deferrals, so I did it this way.
Hopefully this grid shows up aligned:
Taxable Temp Diff Book
$300,000 ———— $300,000
(100,000) 100,000
======= ======= ========
$200,000 $100,000 $300,000
x.30 x.30 x.30
————- ———– —————
$60,000 $30,000*** $90,000
***Regardless of what the carried over tax asset or liability is, the tax EXPENSE will always equal to the total book taxable amount. The taxable differences for this year were $100,000 which, taxed at the 30% rate, is $30,000 in deferred tax liability. You will book the following:
Dr. Income tax expense – current portion $60,000
Dr. Income tax expense – deferred portion 30,000
Cr. Income Taxes Payable $60,000
Cr. Deferred Tax Liability 30,000
The deferred tax asset is a distraction, and so is the cumulative temporary differences, because the “call of the question” is expense, not deferred amount. If you were to look at it that way, however, you will get to your deferral pretty easily. For instance, the temporary difference for this year is 100,000, but the cumulative temporary difference is 70,000. This must mean that there was a temporary difference of 30,000 from the prior year in the opposite direction (book after tax). That 30,000 multiplied by 30% equals the 9,000 deferred tax asset. If you take that 9,000 deferred tax asset and add the current year $30,000 deferred tax liability, you'll get a net $21,000 deferred tax liability (assuming they can be net as current/non-current).
F - 91 (6/5/2016)
A - 7/30/2016
R - 10/8/2016
B - 12/10/2016
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