Co Q requires your assistance to complete its deferred tax and tax expense calculation for the year ended 31 December 20x2. The following schedules are provided to you below:

(a) Tax computation for the year ended 31 December 20x2.

(b) Schedule of taxable (deductible) temporary differences for 20x2.

Required
1. Complete the schedule of taxable (deductible) temporary differences by indicating on the blanks whether the item is a taxable temporary difference (TTD) or a deductible temporary difference (DTD) and the amount for that item. If the temporary difference is not to be recognized under IAS 12 Income Taxes, state clearly.
2. If the statutory tax rate for 20x1 is 20%, and if there are no additions or disposals of fixed assets, show the journal entries for Co Q for 20x2.
3. If the profit before tax of $750,000 was a loss of $1,000,000, show the journal entries for Co Q for 20x2.

Capital allowances are not granted on these vehicles.

Revenue is taxed when received.

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Tax computation for the year ended 31 December 20x2 Profit before tax... Add back depreciation on plant and equipment. Less: Capital allowances Add back depreciation on motor vehicles.. Less: Capital allowances Add back warranty expense. Less: Actual claims Earned income... Add: Unearned income received Taxable income. Tax rate.... Current tax payable.. $100,000 $750,000 0 100,000 $ 12,000 0 $ 80,000 (100,000) (20,000) $(95,000) 45,000 12,000 (50,000) $792,000 22% $174,240