In which case did the taxpayer derive assessable income during the year ended 30 June 2020?
| a. |
Fridge World sells refrigerators. On 30 June 2020, it sells a refrigerator for $2,000. The customer enters into a lay-by arrangement by paying an initial deposit of $400. For the next four weeks, the customer continues to make $400 payments until the final $200 instalment is paid on 2 August 2020; |
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| b. |
Learn to Dance is a dancing school. On 30 June 2020, it receives a non-refundable upfront payment of $150 from a customer for 3 dancing lessons (ie. $50 each). The three dance lessons are conducted on 6 July, 13 July and 20 July 2020; |
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| c. |
Malik received a $10,000 bonus from his employer on 12 July 2020 in appreciation of his hard work for the year ended 30 June 2020; |
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| d. |
Julie, a chartered accountant practicing as a sole practitioner, invoiced some clients $12,000 on 30 June 2020 for services provided up to that date. Julie received this amount in the mail on 10 July 2020. |
In: Accounting
US income growth slowed to 2.7% from 5.3% in the
previous quarter. The 2.7% came in well below the forecasted 3.5%.”
Assume Hong Kong and the US are on a fixed exchange rate regime,
while the US and Europe are on a flexible exchange rate regime. As
income growth in the US decelerates, what do you expect to happen
to
a) The US trade balance with Hong Kong?
In: Economics
Demand and supply. Show in a diagram the effect on the demand curve, the supply
curve, the equilibrium price and quantity of each of the following pairs of events.
a. The market for hand-sanitizers in New York at the beginning of April 2020.
i. The number of Covid-19 cases increases exponentially starting from 1st March 2020;
ii. On March 9, 2020 New York State Governor Andrew Cuomo allowed for state
production of hand-sanitizers.
b. The market for touristic services in Spain in Summer 2020.
i. The European Union imposes travel restrictions to free movement of people (for
leisure) due to the healthcare crisis following the Covid-19 pandemic.
ii. New cleaning protocols require higher standard of sanitization in hotels and public
places to prevent the coronavirus from spreading.
c. The market for real estate in Italy in Spring 2020.
i. Due to the severe restrictions imposed by the lockdown starting from 5th March 2020,
a growing number of families searched for homes with a garden;
ii. The lockdown period produced a GDP fall by 12.4% in second quarter 2020
In: Economics
As public pressure for corporate accountability and ethical behavior increases, businesses and industries are putting more emphasis on establishing and publicly sharing their codes of ethics with stakeholders. Businesses adopt these to help guide corporate decision-making, but they can be used against them when businesses stray from their stated codes. For instance, Enron’s 64-page code of ethics was Exhibit #1 at the trial of its CEO, Ken Lay, after the company imploded. Stuart Gilman, president of the Ethics Resource Center in Washington, D.C., said that, for Enron, “ethics was simply a piece of paper with three Ps—print, post [in the company lunchroom], and then pray that something is actually going to happen.”
In order to complete this discussion assignment, you will need to:
Please respond to ALL of the following questions in your initial post:
In: Statistics and Probability
Write three to four paragraphs using the below scenario and attach your submission. Remember to check the rubric before submitting.
Suppose there are two large, competing telecommunication firms in your city (Company X and Company Y). The companies are hostile to each other. You have worked for Company X for five years in a position that gives you access to company trade secrets. You are now interviewing for a job with Company Y that would be a substantial step up in your career. During the interview, you get the impression that Company Y expects you to share your knowledge, including the trade secrets, if they hire you.
Let's say that you have signed a non-disclosure agreement as part of your condition of employment with Company X.
In: Computer Science
Your company gives everyone who applies to your company a proficiency test. Your boss likes to hire people who fall in the "average" range. They feel that people who score exceptionally high on the test are more likely to leave for a better job, and people who score very low are not productive enough. The average score on the proficiency test is 750 with a variance of 400. Your boss tell you to exclude the top 14% and the bottom 27%of applicants. What range of scores would get an interview?
What is the larger Z? What is the smaller Z? What is μ? What is σ ? What is the larger X? What is the small X? What is your conclusion?
In: Statistics and Probability
Identify someone who is currently involved in the drug development process. This person could be any of the following:
A physician, nurse, or study coordinator who is doing or has done clinical research
An employee of an IRB, Pharmaceutical Company, Biotechnology Company, or CRO
Employee of the FDA
Request to set up a meeting (in person or via teleconference) to discuss their job/experience as it relates to the drug development process.
n two pages summarize your interview, include information such as the persons background prior to working in clinical trials, therapeutic areas they have worked in and the challenges of that area, their role in the research (i.e. project manager, CRA, etc.), what type of ethical issues arose while conducting their research
In: Nursing
Limpah Kurnia Sdn Bhd (LKSB) is an engineering company that started a new business with an opening cash balance of RM85,000. This new business will focus on sales component parts to all potential customers located in Sungkai, Perak. The following are the budgeted data of LKSB for the year 2020.
1. In January 2020, to start a business the company has rented a double storey building for its operation at RM5,000 per month with RM20,000 rental deposit. Rental deposit is paid in January and monthly rental will be paid in the month it is incurred.
2. In February, the company is planning to purchase a machine at a cost of RM55,000 which has an estimated useful life of 10 years. Depreciation charge per annum will be RM5,500. Only half of the machine cost will be paid in the month of purchase, while the balance will be paid equally over the next two months.
3. Four (4) administration staff will be employed and each staff will be paid RM1,200 per month. Payment will be in the month in which they are incurred.
4. Purchases of materials will be made on credit.
50% of the credit purchases will be paid in the month of purchase
and another 50% one month after the purchases. Estimated purchases
are as follows.
January RM23,000
February RM28,000
March RM25,000
April RM22,000
5. A motor van costing RM49,800 will be purchased in January. Payment of the motor van will be in six equal payments starting February 2020.
6. Estimated sales for component parts in units
are:
January
5,000
February 4,500
March 5,300
April 4,800
7. The selling price for the component parts is RM20.
60% of the sales are expected to be in cash whilst the other 40% is
on credit. The credit sales will be collected one (1) month after
sales.
8. Allowance for manager is RM1,000 per month and paid
in the month incurred.
9. Monthly utilities RM850 is to be paid one month in
arrears.
10. The company received 5% dividend from unit trust
investment of RM500,000 in February.
Required:
a) Prepare schedule of collection and payments for the
month of January, February and March 2020.
b) Prepare a cash budget for the month of January,
February and March 2020.
(Total: 25 Marks)
In: Accounting
Develop a detailed selection plan for this position. In this case, you should determine what you want to measure by analyzing KSAOs from the job description and the information on organizational culture in the case, and fitting the selection measures into the plan format as shown in exhibit 8.2 in the book. The current selection methods are the experience check, education check, Marshfiled Applicant Exam, and the Retail Knowledge Test. Do not include the current interview as part of the selection plan.
In: Operations Management
Brick Ltd is a building construction company. On 1July 2017, Brick Ltd signed a contract with Pear Ltd to build a factory. The contract price was $ 12,000,000. The relevant information is as follows:
|
Financial year ending 30 June: |
Construction costs for year |
Billings and payments for year |
|
2018 |
$ 3,500,000 |
$ 3,000,000 |
|
2019 |
$ 5,000,000 |
$ 5,000,000 |
|
2020 |
$ 1,500,000 |
$ 4,000,000 |
Pear Ltd will be in control of the asset throughout the construction process. The contract is completed on 30 June 2020. Brick Ltd has a financial year ending 30 June. Assume that the actual costs and cash collections are in line with expectations and the stage of completion can be reliably estimated.
Required:
The profit that you have calculated in Part (a) above, is it based on input method or output method? Justify your answer based on AASB 15 “Revenue from Contracts with Customer
In: Finance