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On 1 July 2014, Rich It'd was incorporated . The accounting profit and information of Rich It'd for the three years to 201 7 are

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On 1 July 2014, Rich It'd was incorporated . The accounting profit and information of Rich It'd for the three years to 201 7 are as follows :" 2017 2016 2015 Profit before tax $ 1 BOO OOO $ 1 50.0 0.00 $ 1 200 000 Warranty Expense 500 000 Depreciation Expense - plant 20 000 20 000 20 000 Gain on sale of plant for accounting* 22 000 Warranty paid 250 000 250 000 Tax depreciation - plant 30 000 30 000 30 000 Gain on sale of plant fortax 52 000 Provision for warranty* Carrying 250 00 0 500 000 GILIOunit Provision for warranty - tax base Plant - carrying amount 90 000 Plant - tax base 40 ODD 70 000 The company tax rate is 30%6 . Required Calculate the current and deferred tax of Rich It'd for each veal, 2015, 2019 Prepare the required tax journal entries for each year

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