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6. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)
12 Months Ended
Aug. 31, 2020
Tables/Schedules  
Schedule of Deferred Tax Assets and Liabilities

 

 

2020

 

2019

 

 

 

 

 

 

Deferred tax assets:

 

 

 

 

 

Allowance for inventory 

$

92,999

 

$

83,243

Allowance for bad debts 

 

-

 

 

-

Difference between book and tax depreciation 

 

(51,892)

 

 

(6,388)

 

 

 

 

 

 

Total deferred tax assets

 

41,107

 

 

76,855

Valuation allowance

 

-

 

 

-

 

 

 

 

 

 

Net deferred tax assets

 

41,107

 

 

76,855

 

 

 

 

 

 

Net deferred tax liability

 

(138,059)

 

 

(138,059)

 

 

 

 

 

 

Combined net deferred tax liability

$

(96,952)

 

$

(61,204)