Prepare the current tax worksheet and the journal entry

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Reference no: EM132835780

Question - The CFO of Pfizer Antivirus Ltd has provided you the following data:

Accounting profit (loss) ($74,500)

After debiting as expense:

Goodwill impairment loss $5,000

Entertainment costs $15,000

Donation to political party $30,000

Depreciation expense - plant $50,000

For tax purposes:

Tax depreciation for plant $25,000

Long-service leave paid $10,000

Required - Prepare the Current tax worksheet and the Journal entry to record current tax liability on 30 June 2020.

Reference no: EM132835780

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