X company has the following baances at 30 june 2019:

asset or Liability Carrying Amount(000) Tax base(000)

COmputers

Cost 900 900

Less: Ac.depn (180) (300)

720 600

Account receivable 300 300

less: (30) 0

270 300

prov. for warranty costs 90 0

prov. for long service leave 60 0

the following statement of the comprehensive income for X company ltd for the year ended 30 june 2020 information is available.

000

Revenue 12000

Cost of goods sold expense (5400)

Depn expense (180)

Warranty expense (270)

Bad and doubtful expense (75)

other expenses (4125)

profit before tax 1950

X ltd used the straight line method and depreciates computers over five years in tis accounting records but over three years for tax purposes. The tax rate was 30% for both years.

During the year:

• bad debts written off amounted to $45000
• warranty costs paid amounted to $210000
• NO amounts were paid for long service leave.
• No acquisition of the plant and equipment was made.

The following information is extracted from the statement of financial position at 30June2020:

000 000

Assets liabilites

Acc. revceivable 360 prov. for warranty costs 150

allo for doubtful debts (60) prov. for emp.benefits (LSL)90

(a)Calculate Praise's taxable income and show the journal for the year ended 30June2020.

(b)Calculate the deferred tax using the worksheet and provide the deferred tax journals as at 30June2019.

(c)Calculate the deferred tax using the worksheet and provide the deferred tax journals as at 30June2020.