Question 1: ILOs C2, C3, D1 (30-points)

Mandiri Ltd made an accounting profit before tax of $80,000 for the year ended 30 June 2021. Included in the accounting profit were the following items of revenue and expense.

Donations to political parties (nondeductible)	$7,000
Depreciation expense machinery (20% p.a., straightline)	$18,000
Annual leave expense	$6,400
Rent revenue	$12,000

For tax purposes the following applied.

Depreciation rate machinery	25%
Annual leave paid	$7,800
Rent received	$10,000
Income tax rate	30%

Required

1. Calculate the current income tax payable. (20-points).
2. Prepare the journal entry. (10-points).