Use the following information to answer this question.

An extract of a company's draft statement of financial position at 30 June 2012 discloses the following:

Plant (atcost)$500 000

Lessaccumulateddepreciation300000$200 000

On 30 June 2013 the company assessed the fair value of the plant to be $350 000. At 30 June 2014, the carrying amount of the plant was $250 000.

The tax rate is 30%. Depreciation rates are 10% p.a. (accounting) and 12.5% p.a. (tax) using the straight-line method.

The journal entries to adjust for the tax effect of the revaluation at 30 June 2013 is:

a.

Income tax expense OCI

Dr

45 000

Deferred tax liability

Cr

45 000

b.

Asset revaluation surplus

Dr

45 000

Income tax expense OCI

Cr

45 000

c.

Income tax expense OCI

Dr

45 000

Asset revaluation surplus

Cr

45 000

d.

Income tax expense OCI

Dr

45 000

Deferred tax liability

Cr

45 000

Gain on revaluation OCI

Dr

150 000

Income tax expense OCI

Cr

45 000

Asset revaluation surplus

Cr

105 000