12.16 Calculation of movements in deferred tax accounts .. LOS The statement of financial position of Labrador Ltd at 30 June 2024 showed the following assets and liabilities 2024 2023 Assets Cash Inventories Accounts receivable Allowance for doubtful debts Plant Accumulated depreciation - plant Deferred tax asset Liabilities Accounts payable Provision for long service leave Rent received in advance Deferred tax liability $ 40 000 85 000 250 000 (27 500) 250 000 (130 000) $ 42 500 77 500 240 000 (20 000) 250 000 (106 000) 20 250 145 000 30 000 12 500 130 000 22 500 10 000 19 050 Additional information 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 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 2024, and show the necessary journal entry