Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I would like to know if the disclosure of dividends in the picture complies with the requirements of the relevant accounting standards 4.6 DIVIDENDS Consolidated

I would like to know if the disclosure of dividends in the picture complies with the requirements of the relevant accounting standardsimage text in transcribed

4.6 DIVIDENDS Consolidated Group 2020 $'000 $'000 2021 Parent Entity 2021 $'000 2020 $'000 33,281 33,281 Final fully franked ordinary dividend for the year ended 30 June 2020 of $Nil (2019: $0.40) per share franked at the tax rate of Nil (2019: 30%) Interim fully franked ordinary dividend for the year ended 30 June 2021 of $0.302 (2020: $0.34) per share franked at the tax rate of 30% (2020: 30%) 23,369 26,310 23,369 26,310 23,369 59,591 23,369 59,591 Franking credits available for subsequent financial years based on a tax rate of 30% (2020 30%) 112,284 91,455 112,284 91,455 Dividends are brought to account when declared and appropriately authorised before the end of the financial year but not distributed at reporting date. The consolidated amounts include franking credits that would be available to the parent entity if distributable profits of subsidiaries were paid as dividends. 4.6 DIVIDENDS Consolidated Group 2020 $'000 $'000 2021 Parent Entity 2021 $'000 2020 $'000 33,281 33,281 Final fully franked ordinary dividend for the year ended 30 June 2020 of $Nil (2019: $0.40) per share franked at the tax rate of Nil (2019: 30%) Interim fully franked ordinary dividend for the year ended 30 June 2021 of $0.302 (2020: $0.34) per share franked at the tax rate of 30% (2020: 30%) 23,369 26,310 23,369 26,310 23,369 59,591 23,369 59,591 Franking credits available for subsequent financial years based on a tax rate of 30% (2020 30%) 112,284 91,455 112,284 91,455 Dividends are brought to account when declared and appropriately authorised before the end of the financial year but not distributed at reporting date. The consolidated amounts include franking credits that would be available to the parent entity if distributable profits of subsidiaries were paid as dividends

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding financial statements

Authors: Lyn M. Fraser, Aileen Ormiston

9th Edition

136086241, 978-0136086246

More Books

Students also viewed these Finance questions

Question

=+ 6. A Case Study in this chapter concludes that if

Answered: 1 week ago