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EVENT 1 Raiso Bhd' prepares its financial statement at 31 December each year and for the year ended 31 December 2019 it has a pre-tax
EVENT 1
Raiso Bhd' prepares its financial statement at 31 December each year and for the year ended 31 December 2019 it has a pre-tax accounting profit of RM240,000 inclusive of RM40,000 interest that is only receivable in 2020.
EVENT 2
Fasola Bhd' has a pre-tax accounting profit of RM340,000 after deducting interest of RM40,000 in its financial statement at 31 December 2019. This interest is payable in 2020.
Required:
Provide a journal entry both of event to record the adjustment for deferred tax.
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