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6. Calculate the carrying amount and the tax base of the following assets and liabilities...

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Accounting

6. Calculate the carrying amount and the tax base of the following assets and liabilities at 30 June 2024 using the following table (for each part, briefly explain, either showing your workings or providing a written explanation, how you determined the tax base):
Account Carrying amount Taxable amount Deductible amount Tax base
i. The closing balance of the Allowance for doubtful debts at 1 July 2024 was $7500, after accruing a further $4500 and writing off $6000 as bad debts during the year ended 30 June 2024. Accounts receivable at 30 June 2023 was $213000 and the balance at 30 June 2024 was $250000. Prepare the Allowance for doubtful debts T account.

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