5) The company's provision for long-service leave at the beginning and end of the year are...

 

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5) The company's provision for long-service leave at the beginning and end of the year are $160 000 and $150 000 respectively. In the current year, $20 000 in long-service leave was paid to a long-standing employee. The company tax rate is 30%. Prepare the end-of-period adjustment journal entries for the deferred tax account in relation to the above situation. 5) The company's provision for long-service leave at the beginning and end of the year are $160 000 and $150 000 respectively. In the current year, $20 000 in long-service leave was paid to a long-standing employee. The company tax rate is 30%. Prepare the end-of-period adjustment journal entries for the deferred tax account in relation to the above situation.

Answer rating: 100% (QA)

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