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The statement of financial position of Quentin Ltd at 30 June 2021 showed the following assets and liabilities. 2021 $ Cash 6,000 Accounts receivables 170,000

The statement of financial position of Quentin Ltd at 30 June 2021 showed the following assets and liabilities.

2021

$

Cash

6,000

Accounts receivables

170,000

Allowance for doubtful debts

(5,000)

Inventory

19,000

Interest receivable

7,200

Plant

120,000

Accumulated Depreciation - Plant

(30,000)

Deferred Tax Asset (at 30/06/2020: $4,300)

?

Liabilities

Accounts Payable

150,000

Provision for Long service leave

4,000

Interest Payable

2,000

Deferred Tax Liability (at 30/06/2020: $1,000)

?

?

Additional information

a. Accumulated depreciation of plant for tax purposes was $20,000 at 30 June 2021.

b. The tax rate is 30%.

Required

Prepare the deferred tax worksheet and journal entries to adjust deferred tax accounts as at 30 June 2021.

Please answer using these headings

Carrying amount Tax base Taxable temp diff deductible temp diff

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