Calculation of movements in deferred tax accounts   LO5 The statement of financial position of Labrador Ltd at 30 June 2021 showed the following assets and liabilities. 2021 2020 Assets Cash $ 80 000 $ 85 000 Inventories 170 000 155 000 Accounts receivables 500 000 480 000 Allowance for doubtful debts (55 000) (40 000) Plant 500 000 500 000 Accumulated depreciation — plant (260 000) (210 000) Deferred tax asset ? 40 500 Liabilities Accounts payable 290 000 260 000 Provision for long service leave 60 000 45 000 Rent received in advance 25 000 20 000 Deferred tax liability ? 38 100 Additional information • Accumulated depreciation of plant for tax purposes was $315 000 at 30 June 2020, and depreciation for tax purposes for the year ended 30 June 2021 amounted to $75 000. • The tax rate is 30%. Required Prepare a deferred tax worksheet to calculate the end of reporting period adjustment to deferred tax asset and liability accounts as at 30 June 2021, and show the necessary journal entry.