tories in the records of W Limited on 30 June 2022 amount to R157 500. • Net realisable value of inventory on hand in the books of W limited amounts to  R107 500 on 30 June 2022.  • Ignore tax implications Show how the journal entry would be recorded in the books of W Limited on 30  June 2022 in acco

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Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.