You are the junior accountant at CBW Bank. You have been asked to assist with the 30 June 2020 tax work:
i) The Bank provided loans totaling $5,000,000 in mortgage loans, equally to 10 of its staff during the year. These loans were interest only repayments and were made at arm’s length, at an interest rate of 5.37%.
ii) Due to a staff restructuring at the bank, 3 of the staff who took mortgage loans were made redundant on 30 November 2019. Due to financial hardship on these 3 staff, the Bank waived the interest on the loans for a period of one year.
iii) The bank paid the mobile phone bills for these 10 staff during the current tax year. The monthly bill per staff member was $69.
iv) Within these staff was the bank manager. As part of the bank manager’s contract, she was provided with a BMW luxury motor vehicle for her work travel. The contract for the provision of the car was entered into on 1 January 2019.
The bank manager is permitted to take the car home at the end of the day and there is no restriction on her use of the car for non-work purposes.
The car was originally acquired by the bank on 1 January 2018. The cost of the car was $90,000.
Other details regarding the car are as follows:
Petrol and oil $6,000
Registration $2,000
Insurance $1,800
Repairs and Maintenance $1,000
Speeding fine $600
The manager is required to contribute $100 per month. The car traveled 50,000 km for the year FBT year. Of these, 30,000 km related to business travel.
Required:
1) Calculate FBT liability for the loans. Show all workings.
2) Calculate FBT liability for the mobile phone. Show all workings.
3) Calculate FBT liability for the car. Show all workings.
4) What is the total FBT liability the bank manager needs to remit to the ATO. Give a brief reason why you stated your answer.
In: Finance
You work as a security administrator of the “Medium Department Store” (MDS) chain. The CIO of the company has tasked you to research and design 2 courses of action (CoA) to update the current, non-existing, network security solution. It should cover the risk and how to mitigate the risk. The solution should cover at least: Policies must address at the least the following: Insider theftPhysical theft / prevention Subcontractor /third party Data transfer security / loss prevention Data breach response plan Social engineering Risk mitigation handling options Equipment need: Make / Model - Cost - Function Deliverables: Presentation document to the CIO of the company to: Presents your CoAs, Network Security Policy (NSP), User Agreement (UA).
In: Computer Science
In PYTHON Write an algorithm for a function called removeAll which takes 3 parameters: an array of array type, a count of elements in the array, and a value. As with the remove method we discussed in class, elements passed the count of elements are stored as None. This function should remove all occurrences of value and then shift the remaining data down. The last populated element in the array should then be set to None. The function then returns the count of “valid” (i.e. non-removed) data elements left. This function should do the removal “by hand” and SHOULD NOT use the remove method. Hint: Consider what how you update your current position in an array when you don’t remove an element versus when you do remove an element. Python
In: Computer Science
What is bias in data collection? Provide two examples of study bias (based on two publication citations from topic breast cancer
What is the difference between correlation and causation? Provide one example of either a correlation finding or a causation finding (based on one of your publication citations from topic breast cancer
In: Nursing
| Direct Materials Budget | |||||
| For the year ending December 31, 2018 | |||||
| Plain t-shirts | Q1 | Q2 | Q3 | Q4 | Total |
| Units to be produced | 1060 | 1260 | 1600 | 2000 | 5920 |
| Direct materials per unit | 1 | 1 | 1 | 1 | 1 |
| Production needs | 1060 | 1260 | 1600 | 2000 | 5920 |
| Desired ending inventory | 126 | 160 | 200 | 106 | 106 |
| Total needs | 1186 | 1420 | 1800 | 2106 | 6026 |
| Less beginning inventory | 58 | 126 | 160 | 200 | 58 |
| Direct materials to be purchased | 1128 | 1294 | 1640 | 1906 | 5968 |
| Cost per t-shirt | $ 3.00 | $ 3.00 | $ 3.00 | $ 3.00 | $ 3.00 |
| Total t-shirt purchase cost $ | 3384 | 3882 | 4920 | 5718 | 17904 |
| Ink: | Q1 | Q2 | Q3 | Q4 | Total |
| Units to be produced | 1060 | 1260 | 1600 | 2000 | 5920 |
| Direct materials per unit | 5 | 5 | 5 | 5 | 5 |
| Production needs | 5300 | 6300 | 8000 | 10000 | 29600 |
| Desired ending inventory | 630 | 800 | 1000 | 530 | 530 |
| Total needs | 5930 | 7100 | 9000 | 10530 | 30130 |
| Less beginning inventory | 390 | 630 | 800 | 1000 | 390 |
| Direct materials to be purchased | 5540 | 6470 | 8200 | 9530 | 29740 |
| Cost per ounce | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 |
| Total ink purchase cost $ | 1108 | 1294 | 1640 | 1906 | 5948 |
| Total cost of all direct materials $ | 4492 | 5176 | 6560 | 7624 | 23852 |
| Direct Labor Budget | |||||
| For the year ending December 31, 2018 | |||||
| Q1 | Q2 | Q3 | Q4 | Total | |
| Units to be produced | 1060 | 1260 | 1600 | 2000 | 5920 |
| Direct labor hours per unit | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| Production needs | 127.20 | 151.20 | 192.00 | 240.00 | 710.40 |
| Wage cost per hour | $ 10 | $ 10 | $ 10 | $ 10 | $ 10 |
| Total direct labor cost $ | 1272 | 1512 | 1920 | 2400 | 7104 |
The overhead budget shows forecasted variable and fixed overhead costs for the coming year. For Texas Rex the variable overhead rate is $5 per direct labor hour. Fixed overhead is budgeted at $1645 per quarter.
Overhead BudgetFor the year ending December 31, 2018
Q1 Q2 Q3 Q4 Total
Budgeted Direct Labor hours
Variable Overhead Rate _______ _______ ________ ________ _______
Budgeted Variable Overhead
Budgeted Fixed Overhead _______ _______ ________ _______ ________
Total Overhead Cost
Calculate the Total Unit Cost:
Direct Materials
Direct Labor
Overhead
Total Unit Cost
In: Accounting
Commute times in the U.S. are heavily skewed to the right. We select a random sample of 230 people from the 2000 U.S. Census who reported a non-zero commute time.
In this sample the mean commute time is 28.6 minutes with a standard deviation of 19.3 minutes. Can we conclude from this data that the mean commute time in the U.S. is less than half an hour? Conduct a hypothesis test at the 5% level of significance.
What is the $p$-value for this hypothesis test?
Your answer should be rounded to 4 decimal places
In: Math
Describe the key concepts related to database marketing and review the strengths and opportunities as to the use of database marketing.
In: Finance
Explain why a database and a database management system are fundamental to business operations.
Short Essay Question
In: Computer Science
To what extent should end users be involved in the selection of a database management system and database design?
In: Computer Science
Database Design CIW
State_Capitals Physical Database
Create primary and secondary keys for the attached unfinished physical database design.
| CREATE DATABASE STATE_CAPITALS; | ||
| GO | ||
| USE STATE_CAPITALS; | ||
| GO | ||
| CREATE TABLE Country( | ||
| Country_Code varchar(10) NOT NULL, | ||
| Country_Name varchar(50) NOT NULL, | ||
| Population int NOT NULL, | ||
| Country_Size float NOT NULL | ||
| ) | ||
| GO | ||
| CREATE TABLE Region( | ||
| Country_Code varchar(10) NOT NULL, | ||
| Region_Code varchar(10) NOT NULL, | ||
| Region_Name varchar(50) NOT NULL | ||
| ) | ||
| GO | ||
| CREATE TABLE State( | ||
| Region_Code varchar(10) NOT NULL, | ||
| State_Code char(2) NOT NULL, | ||
| State_Name varchar(50) NOT NULL, | ||
| Date_of_Statehood int NOT NULL, | ||
| State_Size float NOT NULL, | ||
| State_Population int NOT NULL | ||
| ) | ||
| GO | ||
| CREATE TABLE Capital( | ||
| State_Code char(2) NOT NULL, | ||
| Capital_Code tinyint NOT NULL, | ||
| Capital_Name varchar(50) NOT NULL, | ||
| Capital_Since smallint NOT NULL, | ||
| Land_Area float NOT NULL, | ||
| Most_Populous_City bit NOT NULL, | ||
| Municipal_Population int NOT NULL, | ||
| Metropolitan_Population int NULL, | ||
| Note varchar(300) NULL | ||
| ) | ||
| GO | ||
Ensure your submission addresses each of these components:
Submit your project in a word document format
In: Computer Science