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Extracts from the Statement of Financial Position for Unicorn Ltd at 30 June 20X1 showed the following assets and liabilities. 20X1 Assets Accounts receivable 510,000

Extracts from the Statement of Financial Position for Unicorn Ltd at 30 June 20X1 showed the following assets and liabilities.

20X1

Assets

Accounts receivable

510,000

Allowance for doubtful debts

(22,000)

Prepaid insurance

34,000

Plant

690,000

Accumulated depreciation

(210,000)

Liabilities

Provision for long service leave

230,000

Additional information

  • Accumulated depreciation for tax purposes at 30 June 20X1 was $160,000.
  • Debts are deductible for tax purposes when they are written off.
  • Insurance is deductible for tax purposes when it is paid.
  • Long service leave is deductible for tax purposes when it is paid.
  • The tax rate is 30%.

Required:

Write in the box below the balance of the Deferred Tax Asset account that would appear in the financial statements of the company as at 30 June 20X1, determined in accordance with the requirements of AASB 112: Income Taxes. Do not include any dollar signs, commas, spaces or decimals in your answer.

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