Prepare the franking account, Cost Accounting

Assignment Help:

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

Related Discussions:- Prepare the franking account

Applicatin of diffrential costing, developing leval

developing leval

Determine the amount of depreciation expense, Waylander Coatings Company pu...

Waylander Coatings Company purchased waterproofing equipment on January 6, 2013, for $320,000.The equipment was expected to have a useful life of four years, or 20,000 operating ho

Monetary performance and the financial position, The question required cons...

The question required consideration of both the monetary performance and the financial position, from the perception of a potential lender. As with previous questions, candidates w

DIVIDEND POLICY, EARNINGS AFTER TAX-1500000 NUMBER OF EQUITY SHARE OUTSTAND...

EARNINGS AFTER TAX-1500000 NUMBER OF EQUITY SHARE OUTSTANDING-300000 DIVIDEND PAID 600000 PRICE-EARNING RATIO-101 RATE OF RETURN ON INVESTMENT-20% WHAT IS OPTIMUM DIVIDEND PAY OUT

Calculate the put price, Question: Suppose that the stock now sells at ...

Question: Suppose that the stock now sells at $80, and the price will go up by 5% or down by 5% at the end of first six month (t = ½). Then, the price will either go up by 10%

Cost concept and classification, full explanation on cost concept and class...

full explanation on cost concept and classification

Cost, what is traditional costing system

what is traditional costing system

What is the optimal price without price discrimination, We consider two reg...

We consider two regions A and B. Each market has the same size (i.e. number of consumers) but differs in the willingness to pay for one unit of the good proposed by the firm. On ma

Determine internal rate of return and cash flow statement , A local deliver...

A local delivery company has purchased a delivery truck for $15,000. The truck will be depreciated under MACRS as a five year property. The trucks market value (salvage value)

Long - term capital loss, The Smiths have a long-term capital loss carryove...

The Smiths have a long-term capital loss carryover of $10,000 from 2010. On May 9, 2007, David's uncle, Joe, gave him the family antique gun collection. Based on family records

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages