Questions
Jerry Ltd a UK company sells Standard Rated and zero ratedgoods in UK and exports to...

Jerry Ltd a UK company sells Standard Rated and zero ratedgoods in UK and exports to overseas. Also, Jerry Ltd purchases standard rated goods and zero rated goods from UK suppliers and from overseas. On 1 January 2020, Jerry Ltd has registered for VAT based on compulsory Registration.

The following transactions occurred during the quarter ended 31 March 2020:

(i) Standard Rated Sales during the quarter ended 31 March 2020 was £200,000 (excluding VAT) and £30,000 zero rated sales . These sales are for UK customers.

(ii) Standard Rated Purchases during the quarter ended 31 March 2020 was £36,000 (including VAT) and £15,000 Zero Rated Sales. These purchases are from UK suppliers.

(iii) Jerry Ltd spent totally £8,000 (including VAT) for the Entertainment expenses, out of which £4,000 for UK customers, £1,000 for the Staff and £3,000 is for Overseas Customers.

(iv) On 15 January 2020, Jerry Ltd purchased 2 cars, the details of the cars are as follows:

Car no. 1

Car Costing £20,000 (including VAT) for the Director of the company, who uses the car both for personal and business purposes.

Car No. 2

Car Costing £18,000 (including VAT) for the Salesman, who uses the car fully for business purposes.

(v) Jerry Ltd purchased fuel costing £16,000 (excluding VAT) during the quarter ended 31/3/2020. Jerry Ltd consumed the fuel for business purposes as well as for the car used by the Director (car no.1). The scale charge for the car used by the Director was £540 (including VAT).
(vi) Jerry Ltd also imported £10,000 goods and £5,000 services from India. Jerry Ltd paid 20% import duty while releasing the goods and services from the port of UK.

(vii) Jerry Ltd exported £15,000 standard rated goods and £20,000 services to Singapore.

Note: If not mentioned specifically, all figures are VAT exclusive.

You are required to

a) Prepare VAT Account for the quarter ended 31 March 2020 and specify the due date for the payment of VAT.Wherever required give special note.

         (13 marks)

b) Explain the various conditions to claim the Relief for bad debts under VAT

(word count = 100 words)        

In: Accounting

There are three columns of data: a monthly date, a closing price for an individual stock,...

  1. There are three columns of data: a monthly date, a closing price for an individual stock, and the market close.
    1. Calculate a monthly return series from the closing monthly prices of both the market and the individual security.
    2. Calculate the arithmetic mean return and the standard deviation of the monthly return for both series.
    3. Calculate the geometric mean return for both series.
    4. Calculate the beta of the individual security.

Date   Closing Price   Market Closing Price   Security Return   Market Return
12/1/2003   43.73   1111.92      
1/1/2004   42.43   1131.13      
2/1/2004   43.05   1144.94      
3/1/2004   43.56   1126.21      
4/1/2004   43.8   1107.3      
5/1/2004   44.47   1120.68      
6/1/2004   43.93   1140.84      
7/1/2004   38.17   1101.72      
8/1/2004   38.91   1104.24      
9/1/2004   35.06   1114.58      
10/1/2004   35.59   1130.2      
11/1/2004   34.63   1173.82      
12/1/2004   36.68   1211.92      
1/1/2005   36.55   1181.27      
2/1/2005   37.7   1203.6      
3/1/2005   36.95   1180.59      
4/1/2005   38.52   1156.85      
5/1/2005   39.57   1191.5      
6/1/2005   37.26   1191.33      
7/1/2005   39.05   1234.18      
8/1/2005   39.26   1220.33      
9/1/2005   38.79   1228.81      
10/1/2005   38.42   1207.01      
11/1/2005   38.59   1249.48      
12/1/2005   36.44   1248.29      
1/1/2006   37.41   1280.08      
2/1/2006   37.94   1280.66      
3/1/2006   38.13   1294.87      
4/1/2006   38.21   1310.61      
5/1/2006   40.09   1270.09      
6/1/2006   39.46   1270.2      
7/1/2006   40.81   1276.66      
8/1/2006   41.1   1303.82      
9/1/2006   41.26   1335.85      
10/1/2006   43.15   1377.94      
11/1/2006   43.54   1400.63      
12/1/2006   44.86   1418.3      
1/1/2007   44.51   1438.24      
2/1/2007   43.4   1406.82      
3/1/2007   44.94   1420.86      
4/1/2007   48.87   1482.37      
5/1/2007   49.62   1530.62      
6/1/2007   49.31   1503.35      
7/1/2007   49.12   1455.27      
8/1/2007   50.69   1473.99      
9/1/2007   54.5   1526.75      
10/1/2007   58.57   1549.38      
11/1/2007   59.22   1481.14      
12/1/2007   58.52   1468.36      
1/1/2008   56.26   1378.55      
2/1/2008   55.74   1330.63      
3/1/2008   58.42   1322.7      
4/1/2008   56.5   1385.59      
5/1/2008   54.95   1400.38      
6/1/2008   50.21   1280      
7/1/2008   49.75   1267.38      
8/1/2008   50.3   1282.83      
9/1/2008   51.45   1164.74      
10/1/2008   42.86   968.75      
11/1/2008   45.99   896.24      
12/1/2008   44.42   903.25      
              
Arithmetic mean              
Geometric mean               
Standard deviation              
              
Covariance              
Beta              

In: Finance

Explain why you couldn't measure the critical angle of total internal reflection for glass-water boundary.

Explain why you couldn't measure the critical angle of total internal reflection for glass-water
boundary.

In: Physics

Can social trading replace traditional   solutions   such as hedge funds?   What factors determine the boundary of...

Can social trading replace traditional   solutions   such as hedge funds?   What factors determine the boundary of this model?

In: Finance

future of breast cancer screening in UK?

future of breast cancer screening in UK?

In: Biology

What does Uk < Us mean?

What does Uk < Us mean?


In: Physics

For the Academic Community of Higher Education improving student’s academic performance is not an easy task.

 

Q1: For the Academic Community of Higher Education improving student’s academic performance is not an easy task. A case study was conducted using descriptive Statistics which is the discipline of quantitatively describing the main features of a collection of information. A data of 200 Students marks as population was collected and out of it 25 students marks are being analyzed for the case study by applying some measures that can be used to describe a data set.

            Let us consider the marks obtained from a sample of 25 students listed as follows:

70 80 86 46 56 66 76 86 90 70 50 45

94   65 55 60 90 80 70 71 72 62 64 76 70

 

  1. Construct a frequency distribution & relative frequency distribution for the above data with 5 classes.            (1)                                                                   
  2. Construct a Histogram with appropriate scale for the data.   (1)                   
  3. Calculate the mean for the data using the frequency distribution table.     (1)

Q2: Three males with an X-linked genetic disorder have one child each. The random variable x is the number of children among the three who inherit the X-linked genetic disorder.

x

0

1

2

3

P(x)

0.15

0.20

0.30

0.35

Determine whether it is a probability distribution or not. If it is a probability distribution, find its mean and standard deviation.

Q3: One Market Research company determined that 13% of college students work part-time during the academic year. For a random sample of 5 students, what is the probability that at least 3 students work part-time?

In: Statistics and Probability

Assume a $100,000 par value. What is the yield to maturity of the August 2002 Treasury bond with semiannual payment?

treasury notes and bonds. Use the information in the following table:

Assume a $100,000 par value. What is the yield to maturity of the August 2002 Treasury bond with semiannual payment? Compare the yield to maturity and the current yield. How do you explain this relationship?   What is the yield to maturity of the August 2002 Treasury bond?   

  

Today is February 15, 2008

Type

Issue Date

Price (per $100 parvalue)

Coupon Rate

Maturity Date

YTM.   

Current Yield

Rating

Bond

Aug 2002

78.03

3.00%

8-15-2012

3.845%

AAA

In: Finance

The table below gives information on the CPI and the monthly take-home pay of Bill Jones,...

The table below gives information on the CPI and the monthly take-home pay of Bill Jones, an employee at the Ford Canada.

(a) What is the purchasing power of the dollar for 2007 based on the period 2002? (Round the final answer to 5 decimal places.)

(b) Determine Mr. Jones’ "real" monthly income for 2007. (Round the final answer to 2 decimal places.) .

(c) What is the purchasing power of the dollar for 2010 based on the period 2002? (Round the final answer to 5 decimal places.)

(d) Determine Mr. Jone's "real" monthly income for 2010. (Round the final answer to 2 decimal places.)

Year (2002 = 100) Consumer Price Index (CPI) Mr. Martins Monthly Take-Home Pay ($) 2002 100.0 2300 2007 111.5 2700 2010 116.5 2900 2013 122.8 3100

In: Statistics and Probability

The table below gives information on the CPI and the monthly take-home pay of Bill Jones,...

The table below gives information on the CPI and the monthly take-home pay of Bill Jones, an employee at the Ford Canada.

(a) What is the purchasing power of the dollar for 2007 based on the period 2002? (Round the final answer to 5 decimal places.)

(b) Determine Mr. Jones’ "real" monthly income for 2007. (Round the final answer to 2 decimal places.) .

(c) What is the purchasing power of the dollar for 2010 based on the period 2002? (Round the final answer to 5 decimal places.)

(d) Determine Mr. Jone's "real" monthly income for 2010. (Round the final answer to 2 decimal places.)

Year (2002 = 100) Consumer Price Index (CPI) Mr. Martins Monthly Take-Home Pay ($) 2002 100.0 2300 2007 111.5 2700 2010 116.5 2900 2013 122.8 3100

In: Statistics and Probability