Provide your answers from here. Workings are not required.

Current Tax Worksheet

$\backslash$table$[[$Accounting profit before income tax,,$42,000],[$Add:$,,],[$Bad debts expense,$6,200,],[$Fines and penalties expense,$2,100,],[$Depreciation expense $-$ Plant,$24,000,],[$Gonverment grant $($exempt from tax$),6,500,],[$Rent expense,$8,500,],[$Annual leave expense,$9,400,],[,,92,800],[$Deduct:$,,],[$Tax deduction for plants,$(28,800),],[,,],[,,],[,,],[,,],[,,],[$Taxable profit $($loss$),,64,000],[$Current tax $30\%,,19,200]]$

Journal entry:

$\backslash$table$[[$Income tax expense $($current$),19,200,],[$Current tax liability,,$19,200],[,,]]$

Question $2$

Yellow Ltd$\text{'}$s income statement for the year ended $30$ June $2020$ includes the income and expense items shown below:

$\backslash$table$[[$Profit before tax,$42,000],[$Government grant $($exempt from tax$),6,500],[$Fines and penalties expense,$2,100],[$Bad debts expense,$6,200],[$Depreciation expense $-$ Plant,$24,000],[$Rent expense,$8,500],[$Annual leave expense,$9,400]]$

The statement of financial position of Yellow Ltd as at $30$ June $2020$ and $2019$ included the following assets and liabilities:

$\backslash$table$[[,,2020,2019],[$Assets$],[$Receivables$,$$$,156,000,147,500],[$Allowance for doubtful debts,,$(6,800),(5,200)$Question $2$

Yellow Ltd$\text{'}$s income statement for the year ended $30$ June $2020$ includes the income and expense items shown below:

$\backslash$table$[[$Profit before tax,$42,000],[$Government grant $($exempt from tax$),6,500],[$Fines and penalties expense,$2,100],[$Bad debts expense,$6,200],[$Depreciation expense $-$ Plant,$24,000],[$Rent expense,$8,500],[$Annual leave expense,$9,400]]$

The statement of financifl position of Yellow Ltd as at $30$ June $2020$ and $2019$ included the following assets and liabilities:

$\backslash$table$[[$Assets $2020],[],[$Receivables$,$$$,156,000,147,500],[$Allowance for doubtful debts,,$(6,800),(5,200)$