The Following Information Was Extracted from the Financial Records of Pamakari

question 20

Multiple Choice

The following information was extracted from the financial records of Pamakari Limited: Equipment purchased on 1 July 2014 for $100 000 (accounting depreciation 10% straight line tax depreciation 20% straight line) . If the company tax rate is 30%, the deferred tax item that will be recorded by Pamakari Limited at 30 June 2015 is:

• A) Dr Deferred tax asset $3000.
• B) Cr Deferred tax asset $3000.
• C) Dr Deferred tax liability $3000.
• D) Cr Deferred tax liability $3000.

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