Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the relevant information provided below to prepare the following: 4.1 Journal entries to record the final dividend and total company tax for the financial

image text in transcribed

image text in transcribed

image text in transcribed

Use the relevant information provided below to prepare the following: 4.1 Journal entries to record the final dividend and total company tax for the financial year. (4 marks) 4.2 Statement of Financial Position (Balance Sheet) as at 31 August 2022 (16 marks) INFORMATION The following balances were obtained from the accounting records of Cadac Limited on 31 August 2622 , the end of the financial year: Additional information a) Depreciation on equipment and vehicles for the year ended 31 August 2022 amounted to R3 000 and R20 000 respectively. b) A final dividend of 10 cents per ordinary share was declared but not paid. There were 200000 ordinary shares in issue. (This dividend was included in the calculation of retained profit.) c) The total company tax for the financial year amounted to R200 000. The provisional payments to the tax authority amounted to R185000

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

Step: 3

blur-text-image

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

Analysing Financial Performance Using Integrated Ratio Analysis

Authors: Nic La Rosa

1st Edition

0367552523, 978-0367552527

More Books

Students also viewed these Accounting questions