Q)Erics friends Alison, Amber and Brian are shareholders in a movie consultancy company, AAB Limited, which seeks out and provides movie location sites, stunt doubles, costume hire and props to movie production companies. Alison and Amber are shareholder/employees however Brian is not.

The companys taxable income before interest and dividends, (included below), for the year ending 31 March 2015 was $126,345.

Other transactions for the year were:

20 June 2014	Received net interest of $4150 from the BNZ. RWT has been deducted at 33%
28 August 2014	Paid the first instalment of 2015 provisional tax of $18,371
30 August 2014	Received a net dividend from Warner Productions Ltd of $1,785. The dividend was imputed at 25%
5 October 2014	The company declared and paid an interim gross dividend of $45,650 to the shareholders. The dividends are fully imputed with imputation credits attached of 28%.
20 October 2014	Paid fringe benefit tax of $3120
11 November 2014	Brian purchased a VW convertible from the company. He paid $25,000 for the car and it had a market value of $30,000.
15 January 2015	Paid the second instalment of 2015 provisional tax of $18,371
31 January 2015	Received an income tax refund of $2,110 for the 2013-2014 year following reassessment of the return
20 March 2015	Declared and paid a final gross dividend of $49,750. This has been imputed at the same ratio as the interim dividend.
7 May 2015	Paid the third instalment of provisional tax of $18,371

Required:

Prepare the Imputation Credit Account for the year ending 31 March 2015. The opening balance of the imputation credit account on 1 April 2014 was $3,150 debit and this amount and the imputation penalty tax were paid on 20 June 2015.Showall workings.