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Current tax worksheets and tax entries Bailey Lid reported a profit before tax for the year to 30 June 2019 of $400 000. The company's
Current tax worksheets and tax entries Bailey Lid reported a profit before tax for the year to 30 June 2019 of $400 000. The company's statements of financial position include assets and liabilities as follows: 2019 2018 Accounts receivable $ 300 000 $ 340 000 Allowance for doubtful debts (65 000) (30 000 Provision for Long Service Leave 70 000 65 000 Expenses included in profit for the year to 30 June 2019 are as follows: Doubtful debts expense 345 000 Long service leave expense 525 000 The corporate tax rate is 30%. Required Prepare the current tax worksheet (7 marks
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