QUESTION 4 (please complete both parts A and B) 4 PART A The following information has been extracted from the accounts of Hawthorn Pty Ltd. (a resident private company) for the year ended 30 June 2020. Closing franking account balance on 30 June 2019 was a $10,000 surplus. Dividends received: 16/8/19 - $210,000 franked to 80% from BHP Ltd 22/11/19 - $140,000 fully franked from XYZ Pty. Ltd. 14/3/20 - $85,000 unfranked from ABC Plc. (a UK company, after $15,000 UK tax withheld) Dividends paid: 1/9/19 - $140,000 franked to 50% 18/5/20 - $700,000 franked to 30% Taxes paid 1/12/19 - Company income tax paid $80,000 31/3/20 - GST net amount paid $100,000 Required: Prepare a running balance franking account for Hawthorn Pty Ltd. for the year ended 30 June 2020. Explain the impact of each listed item. QUESTION 4 (please complete both parts A and B) 4 PART A The following information has been extracted from the accounts of Hawthorn Pty Ltd. (a resident private company) for the year ended 30 June 2020. Closing franking account balance on 30 June 2019 was a $10,000 surplus. Dividends received: 16/8/19 - $210,000 franked to 80% from BHP Ltd 22/11/19 - $140,000 fully franked from XYZ Pty. Ltd. 14/3/20 - $85,000 unfranked from ABC Plc. (a UK company, after $15,000 UK tax withheld) Dividends paid: 1/9/19 - $140,000 franked to 50% 18/5/20 - $700,000 franked to 30% Taxes paid 1/12/19 - Company income tax paid $80,000 31/3/20 - GST net amount paid $100,000 Required: Prepare a running balance franking account for Hawthorn Pty Ltd. for the year ended 30 June 2020. Explain the impact of each listed item