Carol Ltd recorded an accounting profit before tax of $100,000 for the year ended 30 June 2016 Included in the accounting profit were the following items of revenue and expenses Entertainment expense (non-deductible) 2,000 Depreciation-vehicles (10%) Rent revenue For tax purposes the following applied Depreciation rate - vehicles Rent received Income tax rate 17,000 2,500 15% $3,000 30% Required Use a current tax worksheet to calculate the current tax liability for the year ended 30 June 2016. Prepare the adjusting journal entry. No narrations are required (10 marks) Part B The statements of financial position of Jones Ltd at 30 June 2015 showed the following assets and liabilities 2015 2014 Assets Cash Invento Receivables Allowance for doubtful debts Plant Accumulated depreciation Deferred tax asset Liabilities Accounts payable Provision for l Rent received in advance Deferred tax liabilit 80,000 170,000 500,000 (55,000) 500,000 (260,000) 85,000 155,000 480,000 40,000) 500,000 (210,000 40,500 290,000 60,000 25,000 260,000 45,000 20,000 38,100 service leave (LSL Additional Information . Accumulated depreciation of plant for tax purposes was $315,000 at 30 June 2014, and depreciation for tax purposes for the year ended 30 June 2015 amounted to $75,000 The tax rate is 30% Required Prepare a worksheet to calculate the end of reporting period adjustment to deferred tax asset and liability accounts as at 30 June 2015, and complete the necessary journal entry (10 marks)