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2: INCOME TAX EXPENSE (10 MARKS) PART A: Prepare a current tax worksheet (6 MARKS) You are required to account for income tax for the
2: INCOME TAX EXPENSE (10 MARKS) PART A: Prepare a current tax worksheet (6 MARKS) You are required to account for income tax for the year ending 30 June 2021. Relevant information is as follows: Accounting profit before tax Warranty expense $ 200,000 $ 15,000 $ 7,000 Warranty paid Depreciation expense $ 20,000 Depreciation allowed for tax $ 30,000 30% Corporate tax rate Required: Prepare the current tax worksheet and the current tax journal entry for 30.6.21
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