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a) Prepare the current tax work sheet and journal entry/entries to calculate and record the current tax for the year ended 30 June 2014 as per AASB 112 “Income taxes”. (10 marks) *AASB is Australia tax standards b) Justify your treatment of entertainment expense and exempt income in the current tax work sheet. c) Prepare deferred tax work sheet to calculate deferred tax asset and liability as at 30 June 2013 and 30 June 2014 and prepare journal entry as per AASB 112 “ Income Taxes” for 30 June 2014 (create columns for account name, carrying amount, tax base, deductible temporary difference and taxable temporary difference). Question 2 Evaluate whether deferred tax assets and deferred tax liabilities arising from AASB 112 “ INCOME TAXES” meet the definition and recognition criteria outlined in the conceptual framework.