The following information is taken from the record of Maximus Limited for the year ended 30 June:

Operating profit before income tax

$560000

Items included in operating profit before income tax

Goodwill impairment losses

$15000

Exempt income received

$82000

Doubtful debts expense

$5500

Depreciation on plant (accounting)

$6000

For tax purposes the following must be taken into consideration

Bad debts written off

$7000

Depreciation on plant (tax)

$12000

Additional info:

Tax rate 30%

Required:

A)schedule reconciling accounting profit with taxable income.

B) general journal entry for current tax payable.