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Prepare extracts of the statement of financial position

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Reference no: EM133011567

On 1 January 2018 Avery Sdn. Bhd. had acquired a plant for RM1,500,000 with an economiclife estimated to be 10 years. Capital allowance is 20% per annum based on cost. Assume that there are no other items that will give rise to temporary differences and the tax rate is 25%.

Required:

Problem (i) Prepare the deferred tax liability account for the years ended 31 December 2018 to2020.

Problem (ii) Prepare extracts of the statement of financial position as at 31 December 2018 to 31December 2020 showing the deferred tax liability.

Reference no: EM133011567

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