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How much is the deferred tax balance on June

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Reference no: EM132837366

Question - On 1 July 2019, a parent entity sold a depreciable non-current asset to a subsidiary entity for $10000. The asset's carrying amount was $6000 at the date of sale with 5 years remaining life.

How much is the deferred tax balance on 30 June 2020 in relation to the above transactions?

a. Deferred tax liability $960

b. Deferred tax asset $960

c. Deferred tax asset $1200

d. Deferred tax liability $1200

Reference no: EM132837366

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