Tango Ltd is a manufacturing entity which has diversified its operations, and now owns a shopping mall and an apartment block. Details of the property owned by Tango Ltd for the year ended $31$ Land at Building at Date brought Building

cost cost into use use

Stand $502,$ Brenton $1000002700001$ Jan $2015$ Administrative

Stand $503,$ Brenton $1100003300001$ Jan $2015$ Manufacturing

Stand $1112,$ Bodmin $500001800001$ Jan $2015$ Commercial

Stand $844,$ Seadune $1200004200001$ Jan $2019$ Residential

$3800001200000$

Land is not depreciated.

Tango Ltd depreciates buildings on a straight$-$line basis over $30$ years. There is no residual values.

The tax allowances are as follows:

Inland revenue does not allow a deduction on land, nor is a deduction claimable on the administrative building $($purchased $31$ December $2014).$ Tango Ltd can write off the cost of the manufacturing building over $20$ years as a tax allowance, not apportioned for part of the

year $($construction completed $31$ December $2014).$

Tango Ltd can write off the cost of the commercial building over $20$ years as a tax deduction in terms of section $13$ quin, as the building is mainly used for the purpose of producing taxable income.

Tango Ltd can write off the cost of the apartment block $($residential$)$ over $20$ years as a tax deduction as it qualifies in terms of section $13$ sex for the allowance $($construction completed $31$ December $2018).$

The deferred tax liability at $31$ December $2018$ was $N$$$9520.$

The tax rate is $28\%$ and the carrying amount of all buildings will be recovered through use.

Required

a$)$ Calculate deferred tax balances on $31$ December $2019$

b$)$ Prepare the necessary journal entries