I have a Question, How do i get part a journal entries, Income tax expense for (25580) and deferred tax asset for (3750). Page 3 & 4 are the solutions.

CCT 20002 INTERMEDIATE FINANCIAL ACCOUNTING-TUTORIAL IN-CLASS EXERCISES TOPIC: ACCOUNTING FOR INCOME TAX Question Kilcoy Ltd has determined its accounting profit before tax for the year ended 30 June 2017 to be $256 700. Included in this profit are the items of revenue and expense shown below Royalty revenue (non-taxable exempt 8 000 ncome) Proceeds on sale of building Entertainment expense Depreciation expense- buildings Depreciation expense-plant Carrying amount of building sold Doubtful debts expense Annual leave expense Insurance expense Development expense 75 000 1 700 7 600 22 500 70 000 4 100 46 000 4 200 15 000 The company's draft statement of financial position at 30 June 2017 showed the following assets and liabilities: Assets Cash Accounts receivable Less: Allowance for doubtful debts Inventories Prepaid insurancc Land Buildings Less: Accumulated depreciation Plant Less: Accumulated depreciation Deferred tax asset (opening balancc) 2 500 S 21 500 (4 10017 400 31 600 4 500 75 000 170 000 (59 500)110 500 150 000 500 82 500 9 600 333 600 Liabilities Accounts payable Provision for annual leave Deferred tax liability (opening balance) Loan 25 000 10 000 6 000 140 000 Additional information (a) Quarterly income tax instalments paid during the year were: 28 October 2016 28 January 2017 28 April 2017 $18 000 17 500 18 000 with the final balance due on 28 July 2017 (b) The tax depreciation rate for plant (which cost $150 000 3 years ago) is 20% Depreciation on buildings is not deductible for taxation purposes. (c) The building sold during the year had cost $100 000 when acquired 6 years ago. The company depreciates buildings at 5% p.a., straight-line. Any gain (loss) on sale of