Assets

Cash

Inventory

Accounts receivable

Allowance for doubtful debts

Equipment

Accumulated depreciation

Goodwill

Liabilities

Accounts payable

Provision for long-service leave

Fines Payable

100,000

150,000

60,000

(12,000)

300,000

(30,000)

15,000

40,000

12,000

1,000

Liabilities

Accounts payable

40,000

Provision for long-service leave

12,000

Fines Payable

1,000

Additional information:

The following balances existed at 1 July 2019: Deferred tax asset $6,000and Deferred tax liability $10,000. There have been no recdrded changes to these balances since 1 July 2019.

The equipment was acquired on 1 July 2019. Depreciation for accounting purposes was 10% per annum (straight-line method), while 20% per annum (straight-line method) was used for tax purposes.

The tax rate is 30%.

The deferred tax liability and deferred tax asset balances at 30 June 2020 are: