What is the balance in the deferred tax account

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Problem 1: Bingo Ltd's statement of financial position shows an item of machinery that cost $180 000 and that has accumulated depreciation of $60 000. For taxation purposes, the asset has a net value of $100 000. Bingo Ltd also has interest receivable of $12 000 that will not be taxed by the Tax Office, and doubtful debts of $9 000 not currently recognised by the Tax Office. The tax rate is 30%. What is the balance in the deferred tax account(s) related solely to the above transactions?

a. None of the given answers.

b. Deferred tax liability of $9600 and deferred tax asset of $2700

c. Deferred tax liability of $12 300

d. Deferred tax liability of $6300 and deferred tax asset of $6000

e. Deferred tax asset of $12 300

Reference no: EM132628993

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