Part B (4 marks) Violet Ltd is reviewing its deferred tax for the year. (a) The company purchased a depreciable asset at the beginning of the year for $400,000. For accounting purposes, an annual depreciation rate of 30% straight-line is used, whereas for taxation the rate is 20% straight-line. A corporate tax rate of 30% applies (2 marks) (b) The company's provision for annual leave at the beginning and end of the year are $250,000 and $375,000 respectively. A corporate tax rate of 30% applies. (2 marks) Required: In each of the above situations, prepare the end-of-period adjustment entries to account for income tax Please show all workings. (a) Accounts Debits Credits (b) Accounts Debit $ Credits