Question: XYZ Pty Ltd has the following transactions for the year ended 30 June 2019. Date Transactions 30/06/2018 Credit Balance in Franking Account of $30,000 15/07/2018

XYZ Pty Ltd has the following transactions for the year ended 30 June 2019.

Date

Transactions

30/06/2018

Credit Balance in Franking Account of $30,000

15/07/2018

PAYG instalment of $4,500

15/10/2018

PAYG instalment of $4,500

11/11/2018

Refund of $5,500 for 2017/2018 company income tax

18/01/2019

Receives a fully franked dividend of $14,000

15/02/2019

PAYG instalment of $3,000

23/03/2019

Pays a 50% franked dividend of $5,000

15/04/2019

PAYG instalment of $3,000

Prepare the franking account for the 2018/2019 tax year. The company tax rate is 30%.

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