The franking account here is as follows: complete the last box Date Description Dr Cr Balance 1
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Question:
The franking account here is as follows:
complete the last box
Date | Description | Dr | Cr | Balance |
1 July 2021 | Franking Account Surplus Carry Forward | 0 | 10,000 | 10,000 |
1 December 2021 | Payment of Company Tax $7000 | 0 | 7,000 | 17,000 |
15 December 2021 | Receipt of Unfranked Dividend from Public Company in the amount of $15,000 | 4,500 | 0 | 11,500 |
1 May 2022 | Receipt of Franked Dividend (Fully Franked) in the amount of $20,000 | 0 | 8,571 | 24,071 |
30 May 2022 | Payment of Franked Dividends (Fully Franked) in the amount of $40,000 | 17,143 | 0 | 6,928 |
1 june 2022 | Successful appeal against assessment for 2010/2011 year and refund cheque of $1000 |
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
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