Swiftsure Ltd has carried forward a deferred tax liability of 170000, arising from differences between carrying amount and tax bases of the company's assets. On 30 June 2013, the carrying amounts and tax bases of the company's assets were as follows:

Acrobat Reader File Edit View Window Help 30' $ 27% Thu 18:59 QE ... ACT 503 Assignment $2 2020.pdf ial 4 X + Home Tools ACT 503 Assignm... x ? Sign In 4 1 5 94.7% Y 9 0 Other Bookmarks Export PDF Create PDF Edit PDF Swiftsure Lid has carried forward a deferred tax liability of 170000, arising from differences between carrying amount and tax bases of the company's assets. On 30 June 2013, the carrying amounts and tax 9 Comment bases of the company's assets were as follows: Combine Files Assets Carrying amount Tax base Organize Pages A $142000 $108000 B $541000 $340000 C $820000 $610000 Adobe Acrobat Pro DC D $86000 $40000 Delete, insert, extract, or rotate pages The current income tax expense for the year ended 30 June 2013 is $8400000 and tax rate is 30%. Required: Learn more (a) Prepare general journal entries on 30 June 2013 to record company's income tax expense. (b) How would your answer differ if the balance of the deferred tax liability carried forward was $120000? Store and share files in the Question 4 (50 Marks) Document Cloud Learn More On 1 Inly 2015 Fluffy Itd acquired all the issued shares of Glider Itd Eluffy Itd paid $30 000 in cash and 20 OCT 8 W X DOCX