Prepare the franking account, Cost Accounting

XYZ Pvt Ltd is a private company incorporated in Australia, and manufactures handbags. The opening balance of XYZ Pvt Ltd's franking account on 1 July 2010 was $nil. During the 2010/11 income year the events listed in the franking account table below occurred:

Prepare the franking account for XYZ Pvt Ltd for the income year ended 30 June 2011.







1 July 2010

Opening balance





21 July 2011

Received fully franked dividend $21,000





31 July 2010

Paid FBT $18,000





10 August 2010

Received $12,000 dividend franked to 70%





15 Sept 2010

Received income tax refund of $4,600





5 Oct 2010

Paid PAYG instalment of $12,000





1 Dec 2010

Paid $14,000 dividend fully franked





4 April 2011

Paid PAYG instalment of $11,000





Posted Date: 2/27/2013 12:29:42 AM | Location : United States

Related Discussions:- Prepare the franking account, Assignment Help, Ask Question on Prepare the franking account, Get Answer, Expert's Help, Prepare the franking account Discussions

Write discussion on Prepare the franking account
Your posts are moderated
Related Questions
Sam Edwards has been the accounting manager for Jade Manufacturing in a highly competitive international market for ten years. Jade Manufacturing produces heavy equipment for two m

You are the CFO of a Hospital. Suppose that your projected average daily reimbursement is $100, 000 and your average collection day is 40 days. What is your hospital's annual cost

Dixon Corporation was established on January 1, Year 1.  The firm has 2 divisions, Division A and Division B.  Division A manufactures standard carpets, and Division B manufactures

preparation of costsheet

This is the amount charged due to the usage and passage of time. Fixed assets are utilized for earning revenue. Thus, a decrease in their value is considered to be the operational

1.    The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital i

Describe the ways in which the needs of internal and external users of accounting information are the same and different.

what is a cost sheet? what are its advantages?

What are investment appraisal methods when opening a new project?