The company revalued plant at the beginning of the year from $450000 to $540000. The plant is being depreciated at the rate of 10% per year for accounting purposes and 5% per year for tax purposes. The company tax rate is 30%. Prepare the end-of-period adjustment journal entries for the deferred tax account in relation to the above situation. Answer: @ (No answer given) Cr s | I (No answer given) @ Dr s $ | (No answer given) \" Cr s | $ Accounting profit before income tax Accounts payable Accounts receivable Accumulated amortisation of Development asset Accumulated depreciation Allowance for doubtful debts Audit fees expense Bad debts expense Current tax liability Deductible temporary difference Deferred tax asset Deferred tax liability Depreciation expense - buildings Depreciation expense - plant and equipment Depreciation of plant (accounting) Depreciation of plant (tax) Development asset - at cost Employee expenses Entertainment expenses Exempt income Fines and penalties (not tax deductible) Income tax expense Income tax Income Interest expense Interest paid Interest payable Interest receivable Interest received Interest revenue Interest revenue Interest revenue Legal expenses parking and other fines Plant - at cost Provision employee benefits Provision for long-service leave Rent received Rent revenue