Solution-Prepare the deferred tax worksheet

Prepare the deferred tax worksheet

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Reference no: EM132470952

Question 1: Prepare the deferred tax worksheet as at 30 June 2019 and the tax journal entries. Discuss the factors the company should have considered before recognising a deferred tax asset with respect to the tax loss incurred in the year ended 30 June 2018?

DaJEn Ltd prepared a draft statement of profit and loss (P/L) for the year ended 30 June 2019 which showed a profit before tax of S24 420. The P/14 included the following items of income and expense:

Government grant (exempt from tax)	5	000
Proceeds on sale of plant	23	000

Bad debts expense	8	100
Depreciation expense - plant	14	000
Insurance expense	12	900
Long-service leave expense	14	500
Impairment of goodwill	11	100
Carrying amount of plant sold	20	000

Attachment:- DaJen.rar

Reference no: EM132470952

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Prepare the deferred tax worksheet

Reference no: EM132470952

Reference no: EM132470952

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