HI5020 Corporate Accounting Assignment Help

Question 4 Week 6 (7 Marks)

On 1 July 2017, Bright Star Ltd was incorporated. The accounting profit and other relevant information of Bright Star for the three years to 2019 are as follows:

The company tax rate is 30%.
Required:
(a) Calculate the current and deferred tax of Bright Star Ltd for each year, 2018 and 2019 (4 marks)
(b) Prepare the required tax journal entries for each year. (3 marks)