Prepare a current tax worksheet. You are required to account for income tax for the year ending 30 June 2021. Information:
Accounting Profit Before tax $80000
Non Deductible fines $5000
interest exp $ 8000
Int paid $10000
Depn exp $15000
Depn allowed for tax $20000
Bad debt exp $6000
Bad debt written off $4000
R&D (asset ) paid $12000
Corporate tax 30%.

Q. Prepare the current tax worksheet and the current tax journal entry for 30.6.2021.