NOTE 1 Hot Pink Batts Pty Ltd Owns Shares In An American NOTE 1

ze:12.0pt;line-height:115%;font-family:”Times New Roman”,serif; mso-fareast-font-family:”Times New Roman”;color:black;mso-themecolor:text1'>Accounting – Others:

 

 

Question: NOTE 1 Hot Pink Batts Pty Ltd Owns Shares In An American

 

NOTE 1
Hot Pink Batts Pty Ltd owns shares in an American company. The $8,000 dividend received from this investment is net of $4,000 tax withheld by USA government.

*(I need an answer for this today, so please do something as soon as possible) Transcribed image text: Ltd nas prepared the followmg Pront & Loss Statement for the 2019 financial year: GN ter these them NET FRONT BEFORE INCOME TAX NOTE 1 Hot Pink Batts Pty Ltd owns shares in an American company The $8,000 dividend received from this investment is net of $4.000 tax withheld by USA government. XOTE 2 The amount of warranty expenses paid to customers during the 2019 income year was $11.000, NOTE 3 Decline in Value for tax purposes needs to be determined using the following information: General SBE Pool Balance at 30 Jane 2018 S90,000 Purchase of Now Machine on 1 December 2018 $ 98,000 Purchase of New Computer on 1 February 2019 5900 NOTE 4 Tax related expenditure is comprised of the following Payroll Tax $7,000 Tax Agent Fees S6,000 ATO Penalties $4,000 ATO General Interest Charge $7,000 NOTES $50,000 of PAYG Lux instalments were paid for the 2018/19 income yeat. REQUIRED: Using the templates provided: w Prepare a statement reconciling net profit with taxable income

 


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