Accounting

Winter Ltd acquired an item of plant on 1 July 2011, for $400 000. The plant is estimated to have a 10 year useful life, with no residual value. On 30 June 2015, the plant was revalued to $420 000. The life and residual values remain unchanged. required: Xssuming a tax rate of 30%: (a) prepare journals entries for the revaluation on 30 June 2015 (b) prepare journals entries for the year ending 30 June 2016 (c) prepare journals entries for the year ending 30 June 2017 (d) as at 30 June 2017, determine the balance of the revaluation surplus account and the balance of any deferred tax asset or liability (e) as at 30 June 2019, determine the balance of the revaluation surplus account and the balance of any deferred tax asset or liability