11.15 Vision Eyewear Pty Ltd (a private company for tax law purposes) has an opening franking account surplus of $30 000 at 1 July 2024.
During the 2024 income year, the company entered into the following transactions.
1. On 17 July 2023, the company paid an unfranked dividend of $5000 to its shareholders.
2. On 28 July 2023, the company paid its fourth and final PAYG instalment of $7500 in respect of the 2023 income year.
3. On 11 August 2023, the company paid a dividend of $18 000 franked to 80 per cent.
4. On 17 September 2023, the company received a fully franked dividend from Coles Ltd of $1500.
5. On 28 October 2023, the company paid its first PAYG instalment for the 2024 income year of $5000.
6. On 19 December 2023, the company paid a franked dividend of $12 000 which was franked to 100 per cent.
7. On 28 February 2024, the company paid its second PAYG instalment for the 2024 income year of $5000.
8. On 23 March 2024, the company paid a franked dividend of $6000, franked to 60 per cent.
9. On 7 April 2024, the company received a fully franked dividend from Telstra Ltd of $1200.
10. On 28 April 2024, the company paid its third-quarter PAYG instalment for the 2024 income year of $5000.
11. On 6 June 2024, the company paid a franked dividend of $150 000, franked to 80 per cent.
Assume a company tax rate of 25 per cent.
Required
Prepare a dividend franking account for Vision Eyewear Pty Ltd for the year ended 30 June 2024. Show all workings. Round all transactions to the nearest whole dollar.
