The statement of financial position of Tapu Ltd at 30 June 2024 showed the following assets and liabilities.

• Accumulated depreciation of plant for tax purposes was \($157\) 500 at 30 June 2023, and depreciation for tax purposes for the year ended 30 June 2024 amounted to \($37\) 500.

• The income tax rate is 30%.

Required 

Prepare a deferred tax worksheet for Tapu Ltd to calculate the end of reporting period adjustment to deferred tax asset and liability accounts as at 30 June 2024, and show the necessary journal entry at 30 June 2024 to recognise that adjustment.

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Assets 2024 2023 Cash $ 40 000 $ 42 500 Inventories 85 000 77 500 Accounts receivable 250 000 240 000 Allowance for doubtful debts (27 500) (20 000) Plant 250 000 250 000 Accumulated depreciation-plant (130 000) (105 000) ? 20 250 Deferred tax asset Liabilities Accounts payable 145 000 130 000 Provision for long service leave 30 000 22 500 Rent received in advance 12 500 10 000 Deferred tax liability ? 19 050