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These balances and totals are from Bantu Ltd for the year ended 30 June 2020.
Real accounts section 30-Jun-19 30-Jun-20
Inland Revenue: Income Tax 12,000.00 15,000.00
Shareholders for dividends 15,000.00 20,000.00
Nominal accounts section 30-Jun-20
Income tax expense 38,000.00
Under-provision for taxation in the previous year 3,200.00
Dividends
Interim 18,000.00
Final 20,000.00
You are required to:
Problem 1. Calculate the amount of dividends and taxation paid.
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