Make the current tax worksheet and current tax journal entry

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Question - Prepare a current tax worksheet. Relevant information is as follows:

You are required to account for income tax for the year ending 30 June 2021.

Accounting profit before tax $80,000

Non-deductible Fines $6,000

Warranty expense $7,000

Warranty paid $5,000

Depreciation expense $10,000

Depreciation allowed for tax $12,000

Annual leave expense $8,000

Annual leave Paid $3,000

R&D (Asset) paid $5,000

Corporate tax rate 30%

Required - Make the current tax worksheet and the current tax journal entry for 30.6.21.

Reference no: EM133031635

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