The following represents an extract from the Statement of Financial Position of the assets and liabilities of Tina Limited for the years ending 30 June 2023 and 2022.

Additional Information:

a) Interest and rent revenue are assessable when the cash is received and deductible when the cash is paid. Employee benefits are allowed for tax deduction when the payment is made.

b) Tax deduction on development costs is claimed at time of payment.

c) Doubtful debts are deductible for tax purposes when the debt is written off.

d) Tina Limited purchased new plant and equipment on 1 April 2023. Assume that the accounting and tax depreciation rates of all plant and equipment are 15% and 20%, respectively.

e) The taxable income of Tina Limited for the year ended 30 June 2023 is $84,240.

f) The current tax rate is 30%. Required:

a) Prepare the deferred tax worksheet for Tina Limited for the year ended 30 June 2023 and prepare the necessary journal entries to record movements in the deferred tax accounts. (10 marks)

\begin{tabular}{l|c|c} & 2023 & 2022 \\ \hline Assets & S & S \\ \hline Cash & 16,900 & 13,520 \\ \hline Accounts receivable & 230,100 & 223,080 \\ \hline Allowance for doubtful debts & (20,800) & (18,200) \\ \hline Inventory & 166,400 & 194,740 \\ \hline Prepaid Rent & 10,400 & 7,800 \\ \hline Deferred tax asset & ? & 15,600 \\ \hline Development costs & 35,100 & 31,200 \\ \hline Less: Accumulated amortisation & (17,550) & (7,800) \\ \hline Plant \& equipment & 187,200 & 124,800 \\ \hline Less: Accumulated depreciation & (39,780) & (18,720) \\ \hline Liabilities & & 45,630 \\ \hline Bank overdraft & 54,418 & 40,560 \\ \hline Accounts payable & 49,660 & 12,030 \\ \hline Current tax liabilities & 13,256 & 13,520 \\ \hline Interest revenue received in & 16,900 & 33,800 \\ \hline advance & 35,828 & 16,250 \\ \hline Provision for annual leave & 16,250 & 6,679 \end{tabular}