(1 point) When does temporary differences occur? (1 point) When does deferred tax liability occur? (1 point) What is carrying amount? (9 points) Net profit before taxation is $21000. The profit and loss account includes as an expense depreciation of plant $3000 (25% of cost of $12000). For taxation purposes depreciation on plant is claimed at 3322% on cost, that is $4000. The income tax rate is 30%. Required: a) Prepare a statement to determine taxable income. b) Calculate the amount of tax payable. c) Show the general journal entry to recordincome tax expense. (9 points) Net profit before taxation is $49,000. A. number ofitems in the profit and loss account have to be treated differently fortaxation purposes. Details are: Accounting records Taxation records ta Entertainment expenses 8000 Nil Transfer to provision for long service leave 10000 Nil Depreciation of machinery 5000 7500 Required: a) Prepare a statement to determine taxable income. b) Calculate the amount of tax payable. c) Show the general journal entry to record income tax expense. Submit in Excel