James is 49 years old and currently working in a multinational company. During 2019-2020 tax year he sold some of his assets and trying to work out his total capital gain.:

• He bought an investment property for $250,000 under a contract dated 24 June 2009. The contract provided a payment of a deposit of $75,000 on that date, with the balance of $175,000 to be paid on the settlement on 5 August 2009. He paid stamp duty of $25000 on 20 July 2009. On 5 August 2009, he received an account for solicitors’ fees of $5000, which was part of the settlement process. He paid this fee.

He sold the property on 15 October 2019 for $415,000. To process, the sale James incurred $1500 in solicitor’s fees.

• James sold some of his antique collections for $20000 which he purchased during the year 2002 for $8000.
• He also made a capital loss from selling some of his personal use assets. Total loss from these sales were $7000

Required:

Consider the above information given by James (Australian resident for tax purposes) and analyze his current position for capital gain tax. In your analysis, you MUST explain each of the above CGT events and its impact on the total capital gain calculation.

(a) Anwar had filed his return of income for the tax year 2013 on 31 August 2013. Discuss the following in the light of provisions of the Income Tax Ordinance, 2001:
(i) By which date the Commissioner of Income Tax could make the first amendment of the assessment, if required. (02)
(ii) By which date any further amendment can be made if the first amendment was made on 15 February 2017. (02)
(b) On 1 December 2017 Bruce Lee was appointed by a Chinese company as a Technical Director for Pakistan. He has provided you the following details:
Arrival in Pakistan 15 December 2017
Joined office in Pakistan 20 December 2017
Visit to Dubai on an official trip 21-30 March 2018
Visit to South Korea for vacations 12-21 April 2018
Visit to northern areas of Pakistan for personal trip 4-9 June 2018
In view of the provisions of the Income tax Ordinance, 2001 and related Rules thereunder, comment on the residential status of Bruce Lee for the tax year 2018. (03)

(c) Under the provisions of the Income Tax Rules, 2002 list the records to be kept by a taxpayer in respect of his income from: (03)
(i) Salary (ii) Property (iii) capital gain

(kindly solve in the context of pakistan)

A proverb is a short sentence based on long experience"-- Miguel de Cervantes After reading the "Capability Maturity Model" and "CMMI Maturity Levels: Why Are They So Important" please discuss the following "Process Proverbs" from Paulk: • The "What-Not-How" Principle: The CMM does not mandate how the software process should be implemented; it describes what characteristics the software process should have. • Capability vs. Performance: The CMM focuses on building the process capability of an organization; the process performance of individual projects is correlated but not identical. • Organizational Improvement: The CMM is a model for organizational improvement. It is not tuned to improving individual projects or helping a project that is in trouble. • Comprehensiveness: The CMM does not address all the important factors that impact success. Excluded topics include capable people, systems engineering, and powerful tools. At a minimum please consider: The "truth" that the proverb is meant to illustrate. Whether or not (based on observation, experimentation, or personal opinion) the proverb is "true." In what way the proverb is or is not important to you as a student of programming and to the software development community in general. References: The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D.Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

The Securities and Exchange Commission (SEC) found that Bally Total Fitness Holding Corporation, a nationwide commercial operator of fitness centers, fraudulently accounted for three types of revenues it received from members. The SEC also charged the audit firm and six partners for their roles in the accounting violations. Visit the SEC’s website (www.sec.gov) and search the link to “Litigation Releases” to locate Litigation Release 20470 issued on February 28, 2008 against Bally Total Fitness Holding Corporation to learn more about this revenue fraud.

a. Read the release and the accompanying compliant in this matter and briefly summarize the types of alleged frauds. For each fraud, identify the management assertion(s)/or the audit objective(s) that was violated.

b. Return to the opening page on the SEC website and search the link for “ press Releases” to locate the December 17, 2009, announcement of the SEC charges against the audit firm and the six partners. Summarize the SEC charges against the audit partners.

c. Read the press release and briefly summarize the SEC description for the nature of risks associated with the Bally’s audit engagement.

d. Read the complaint against the audit engagement partner, who served as the 2001 and 2002 engagement partner. What factors caused the audit firm to recognize Bally as a high risk audit client for 1996–2003?

Discuss the key reason for the market failure in Sierra Leone in year 1980             

2.    According to McMillan (2002), discuss how the economy can maintain good market    

3.    As per the article discuss the consequences on corruption on Sierra Leone during 2017-18      

4.    According to Cunningham (2011: 28-29), there are serious consequences for market failure by a nation, and particularly in a small and endowed country like Sierra Leone. Discuss 5 of those sconsequences that can arise due to market failure.                                         

5.    Discuss 5 recommendation as how the government of Sierra can overcome with market failure                                                                                                                    

6.    Why is it often suggested that imperfect information will result in a misallocation of resources? How can such a misallocation be avoided?                                          

7.    What is the another term of impact information as used in the Case of Sierra Leone?

8.    Suppose in Sierra Leone, raising taxes or borrowing are your only two choices of financing current expenditures, which would you choose, and why, if you were in charge of setting policy?                                                                           

9.    We have learned from this course that the real value of the debt is eroded by inflation and may be overestimated because of it and other factors. Discuss whether you feel that the debt will be a major concern during your working lifetime and retirement why or why not?

Question

Tesco is a global grocery and general merchandise retailer headquartered in Cheshunt, United Kingdom. It is the third-largest retailer in the world measured by revenues (after Wal-Mart and Carrefour) and the second-largest measured by profits Tesco House, head office in Cheshunt, Hertfordshire. (after Wal-Mart). It has stores in 14 countries across Asia, Europe and North America and is the grocery market leader in the UK (where it has a market share of around 30%), Malaysia, the Republic of Ireland and Thailand. Tesco opened its first store in Malaysia in May 2002 with the opening of its first hypermarket in Puchong, Selangor. Tesco Malaysia currently operates 49 Tesco and Tesco Extra stores.

Assume the role of a management consultant reporting to the CEO and Board of Directors at TESCO Malaysia, prepare a report based on the following questions below. In your report, address the following points:

1. Define the current strategic problems and opportunities faced by TESCO in Malaysia or in selected branches in Malaysia.

2. Analyze TESCO’s marketing and innovation strategy transformation designed to position the company on the cutting edge of consumer trends.

3. Evaluate TESCO’s strategy of developing healthy lifestyle or go green concept in Malaysia.

4. Compare and contrast the performance of TESCO with the nearest competitor of a kind in Malaysia.

5. Provide recommendations to management of TESCO on ways to improve strategically in Malaysia.

1. A perfectly competitive industry faces a demand curve given by Q^D= 2515 – 2P. The long-run total cost curve of each firm is given by LTC = 10q -.2q²+.004q³. Derive the long-run equilibrium values of output per firm, market output, price, and the number of firms.
2. You are told that in long-run perfectly competitive equilibrium each firm produces 25 units and that the marginal cost at that level of output is $10. Solve for the long-run equilibrium values of market output, price, and the number of firms. The market demand is given by Q^D= 4000 – 10P.
3. Assume the world market for calcium is perfectly competitive and that all existing producers and potential entrants are identical. Consider the following information about the price of calcium. Between 1990 and 1995, the market price was stable at $2/pound. In the first three months of 1996, the market price doubled reaching $4/pound, where it stayed for the remainder of 1996. Throughout 1997 and 1998, the price declined, eventually reaching $2/pound by the end of 1998. Between 1998 and 2002, the price remained stable at $2/pound. Assume that technology has not changed and that input prices have remained constant over the period. Using words, explain this pricing pattern over the period.

Common text for questions 3 and 4:

An investor buys three shares of XYZ at the beginning of 2002 for $100 apiece. After one year, the share price has increased to $110 and he receives a dividend per share of $4. Right after receiving the dividend, he buys two additional shares at $110. After another year, the share price has dropped to $90, but the investor still receives a dividend per share of $4. Right after receiving the dividend, he sells one share at $90. After another year, the share price has gone up to $95, the investor receives a dividend per share of $4 and sells all shares at $95 immediately after receiving dividends.

3. What are the arithmetic and geometric average time-weighted rates of return and what is the dollar-weighted rate of return of the investor in the above example (for the dollar-weighted return assume that (i) the cash flows from dividends received at the end of a given year are based on the number of shares held at the beginning of that year, and (ii) cash flows from dividends occur on the same day as the cash flows from buying and selling shares)?

4. Why is the dollar-weighted average rate of return in the above example lower than the geometric average rate of return?

For the following problems, use this information from Thompson Corporation’s annual reports:

These data are included in the file Thompson Data Spring 2019

1. Compute a simple index for the revenue each year of Thompson. Use 2003 as the base period. (4 pts)
2. Compute a simple index for the revenue each year of Thompson using the period 2003–05 as the base. (4 pts)
3. What can you conclude about the change in revenue over this time period? (2 pts.)
4. Compute a simple index for the number of employees each year for Thompson. Use 2003 as the base period. (4 pts)
5. Compute a simple index for the number of employees each year for Thompson using the period 2003–05 as the base. (4 pts)
6. What can you conclude about the change in the number of employees over the period? (2 pts)

The National Sleep Foundation used a survey to determine whether hours of sleeping per night are independent of age (Newsweek, January 19, 2004). The following show the hours of sleep on weeknights for a sample of individuals age 49 and younger and for a sample of individuals age 50 and older.

1. Conduct a test of independence to determine whether the hours of sleep on weeknights are independent of age. Use = .05. Use Table 12.4.
   
   Compute the value of the ² test statistic (to 2 decimals).
   
   
   The p value is Selectless than .005between .005 and .01between .01 and .025between .025 and .05between .05 and .10greater than .10
   
   What is your conclusion?
   SelectConclude age and hours of sleep are not independentCannot reject the assumption that age and hours of sleep are independent
   
2. Using the total sample of 500, estimate the percentage of people who sleep less than 6, 6 to 6.9, 7 to 7.9, and 8 or more hours on weeknights (to 1 decimal).
   

   Less than 6 hours	%
   6 to 6.9 hours	%
   7 to 7.9 hours	%
   8 or more hours	%