Use the Following Information to Answer Questions 14 and 15

question 12

Essay

Use the following information to answer questions 14 and 15
An extract of a company's draft statement of financial position at 30 June 2012 discloses the following:
On 30 June 2013 the company assessed the fair value of the plant to be $350 000. At 30 June 2014, the carrying amount of the Plant was $250 000.
The tax rate is 30%. Depreciation rates are 10% p.a. (accounting) and 12.5% p.a. (tax) using the straight-line method.
-The journal entries to adjust for the tax effect of the revaluation at 30 June 2013 is:

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Definitions:

Birth

The process by which a baby is born, marking the end of pregnancy.

Low Birth Weight

A condition where a newborn weighs less than 2,500 grams (5 pounds, 8 ounces) at birth, often associated with preterm birth or poor fetal growth.

Oxygenation

The process of providing or adding oxygen to the body or a biological environment.

Neutral Thermal Environment

A condition in which the environment contributes to maintaining a body's core temperature without needing to increase metabolic heat production.