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Sydney Limited accrued $20 000 for employees' long service leave in the year ended 30 June 2015. This item will not be tax deductible until
Sydney Limited accrued $20 000 for employees' long service leave in the year ended 30 June 2015. This item will not be tax deductible until it is paid in approximately 10 years' time. If the company tax rate is 30%, Sydney Limited must record which of following tax effects as a balance date adjustment? O a. Cr Deferred tax asset $6000 O b. Dr Deferred tax asset $6000 O c. Dr Deferred tax liability $6000 O d. Cr Deferred tax liability $6000 ABC Limited issued a prospectus offering 100 000 ordinary shares at an issue price of $2.50 each, payable $1.50 per share on application. The company received applications for 110 000 shares. Which of the following entries correctly records the application money? O a. DR Application $165 000CR Cash trust $165.000 O b. DR Oc. DR O d. DR Cash trust $165 000CR Application $165 000 Cash trust $250 000CR Application $250 000 Cash trust $275 000CR Application $275 000
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