KGB Security Ltd provides the following information at 30 June 2019 (the first year of operation of the company)

Statement of Financial Position (Balance Sheet)

As at 30 June 2019

Assets	$000	Liabilities and owners equity	$000
Prepayments	20	Provision for Annual Leave	90
Accounts Receivable	360	Loan	320
Allowance for Bad Debts	(40)	Share Capital	1,600
Inventory	600	Retained Earnings	330
Plant and Equipment	1,800
Accum Depreciation	(400)
	2,340		2,340

Other Information:

• For the year ended 30 June 2019 the company made a net profit before tax of $500,000. Dividends of $170,000 were paid.
• Temporary differences include:

• Annual Leave no payments made during the year
• Depreciation of Plant and Equipment for tax purposes $360,000
• Bad Debts written off $10,000 (against Allowance for Bad Debts)
• Prepayments (Previously paid in cash)

• Included in expenses for the year is entertainment expenses of $6,000.
• Assuming a tax rate of 30%.

Required:

1. Calculate the current tax liability at 30 June 2019. (4 marks)
2. Calculate the amount of deferred tax assets/liabilities at 30 June 2019. (3 marks)
3. Journal entry to record income tax for the year. (3 marks)