Hi, the question is related to accounting for taxes. Please help me.

Accounting Profit equives the - the same Question 3 - Practical Questions - 20 Marks PART A - Accounting for Income Taxes as they Profit before tax for Ronaldo Lid for the year ended 30 June 2018 is $220,000 which includes inting the following items of income and expense: Government grant $ 25,000 venue Interest revenue 42,000 Bad debts expense 6,000 Depreciation Expense on Equipment 20,000 going Rent Expense 15,000 Long-service leave expense 11,000 of The following in an extract from the Balance Sheet: Rive Heet a. The government grant is considered as tax exempt. b. Interest is assessable for tax purposes when received. The balance of the Interest 2017 2018 per 2 Receivable account as at 30 June 2018 was $35,000 (balance at 30 June 2017 was ity ) $32,000). 32/000 35000 c. The balance of the Allowance for Doubtful debts as at 30 June 2018 was $12,000 12000 1200 (balance at 30 June 2017 was also $12,000). 33, 000 30/000 cord , d. The balance of the Prepaid Rent account as at 30 June 2018 was $30,000 (balance at 30 June 2017 was $33,000). e. No long service leave has yet been paid. rua ating f. Tax depreciation rate for equipment is 1.5 times the accounting depreciation rate. Tassie Ltd.'s tax rate is 30% for all years, and the company expects to report taxable profit in ted all future years. There are no deferred taxes as at 1 July 2017. tina . Required I. Calculate taxable profit and current tax payable for the financial year ended 30 June 2018. (6 marks) II. Prepare the journal entry to record the current tax payable for the year ended 30 June 2018. (1 Marks) Kable I d est . ties yat Tax lash No 7