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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.
Date
Activity
Provision
DR
CR
Balance
1 July 2010
Opening balance
$0
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
Product and period costs; CGM; CGS On August 1, 2013, Sietens Corporation had the following account balances: Raw Material Inventory (both direct and indirect) :- $ 72,000 WIP Inve
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when one firm purchase other and take over its all assets.balance sheet of absorbed firm shows goodwill,should we goodwill as well?
Why is it important for financial statements and other external reports to be based on generally accepted accounting principles?
elements for jobwork COST SHEET
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Explain the value attached to this common exercise undertaken by Accountants.
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