Question 1 options:

Below is a table of times for Taxis (A to H) to reach Customers (1 to 8) who need a ride home after a night on the town. The goal is to Minimize the time it takes for all of the Taxis to reach their Customers. Only one Taxi will be sent to each Customer and each Customer needs only one Taxi.

The optimal solution to this problem requires the following:


Taxi A picks up Customer

Taxi B picks up Customer

Taxi C picks up Customer

Taxi D picks up Customer

Taxi E picks up Customer

Taxi F picks up Customer

Taxi G picks up Customer

Taxi H picks up Customer

Minimum Cost =

Hint: Your cost should be between 33 and 39

●A traditional manufacturing process has produced millions of TV tubes with a mean life 1200h and st. deviation 300h. The engineering department of the company introduced a new process. A sample of 100 tubes from new process gives sample mean 1265h. Assuming the st. deviation of new process is same as traditional process, test the following 66 deviation of new process is same as traditional process, test the following hypothesisat5%significantlevel.

1. Traditional method and new method gives same mean life

2. New method is better than the traditional method

3. Traditional method is better than the new method

In this PYTHON 3 program assignment, you will find a text file named WorldSeries.txt. This file contains a chronological list of the World Series' winning teams from 1903 through 2018. The first line in the file is the name of the team that won in 1903, and the last line is the name of the team that won in 2018. (Note the World Series was not played in 1904 and 1994. There are entries in the file indicating this.)

Write a program that reads this file and creates TWO dictionaries. The keys of the first dictionary are the names of the teams, and each key's associated value is the number of times the team has won the World Series. The keys of the second dictionary are the years, and each key's associated value is the name of the team that won that year.

Then display the first dictionary in a sorted one with the team won the most of times the 1^st row. A sample looking could be as:

List of World Series champions:

New York Yankees : 26 Times

St. Louis Cardinals : 11 Times

Boston Red Sox : 7 Times

New York Giants : 5 Times

Pittsburgh Pirates : 5 Times

Philadelphia Athletics : 5 Times

Cincinnati Reds : 5 Times

Los Angeles Dodgers : 5 Times

Detroit Tigers : 4 Times

Oakland Athletics : 4 Times

Chicago White Sox : 3 Times

…

The program should then prompt the user to enter a year in the range of 1903 through 2018. It should then display the name of the team that won the World Series that year, and the number of times that team has won the World Series. The program should allow a user to play multiple times. Remind user how to terminate the program.

Tips:

• Must have at least one function created by you in the program
• Document/comment your program
• Be user friendly
• Design your interface
• Format your output

Text file titled: WorldSeries_1903_2018.txt

contents include:

Boston Americans
World Series Not Played in 1904
New York Giants
Chicago White Sox
Chicago Cubs
Chicago Cubs
Pittsburgh Pirates
Philadelphia Athletics
Philadelphia Athletics
Boston Red Sox
Philadelphia Athletics
Boston Braves
Boston Red Sox
Boston Red Sox
Chicago White Sox
Boston Red Sox
Cincinnati Reds
Cleveland Indians
New York Giants
New York Giants
New York Yankees
Washington Senators
Pittsburgh Pirates
St. Louis Cardinals
New York Yankees
New York Yankees
Philadelphia Athletics
Philadelphia Athletics
St. Louis Cardinals
New York Yankees
New York Giants
St. Louis Cardinals
Detroit Tigers
New York Yankees
New York Yankees
New York Yankees
New York Yankees
Cincinnati Reds
New York Yankees
St. Louis Cardinals
New York Yankees
St. Louis Cardinals
Detroit Tigers
St. Louis Cardinals
New York Yankees
Cleveland Indians
New York Yankees
New York Yankees
New York Yankees
New York Yankees
New York Yankees
New York Giants
Brooklyn Dodgers
New York Yankees
Milwaukee Braves
New York Yankees
Los Angeles Dodgers
Pittsburgh Pirates
New York Yankees
New York Yankees
Los Angeles Dodgers
St. Louis Cardinals
Los Angeles Dodgers
Baltimore Orioles
St. Louis Cardinals
Detroit Tigers
New York Mets
Baltimore Orioles
Pittsburgh Pirates
Oakland Athletics
Oakland Athletics
Oakland Athletics
Cincinnati Reds
Cincinnati Reds
New York Yankees
New York Yankees
Pittsburgh Pirates
Philadelphia Phillies
Los Angeles Dodgers
St. Louis Cardinals
Baltimore Orioles
Detroit Tigers
Kansas City Royals
New York Mets
Minnesota Twins
Los Angeles Dodgers
Oakland Athletics
Cincinnati Reds
Minnesota Twins
Toronto Blue Jays
Toronto Blue Jays
World Series Not Played in 1994
Atlanta Braves
New York Yankees
Florida Marlins
New York Yankees
New York Yankees
New York Yankees
Arizona Diamondbacks
Anaheim Angels
Florida Marlins
Boston Red Sox
Chicago White Sox
St. Louis Cardinals
Boston Red Sox
Philadelphia Phillies
New York Yankees
San Francisco Giants
St. Louis Cardinals
San Francisco Giants
Boston Red Sox
San Francisco Giants
Kansas City Royals
Chicago Cubs
Houston Astros
Boston Red Sox

Programming language: Java

If any more information is needed please let me know exactly what you need.

Though there are a bunch of files they are small and already done. Modify the driver file ,Starbuzz coffee, to be able to order each blend and be able to add each condiment to each of the blends. The price should be set accordingly. Be able to: order 1 of each type of beverage, add multiple toppings to each ordered beverage and use each condiment at least once.

Beverage.java:

public abstract class Beverage {
   String description = "Unknown Beverage";
  
   public String getDescription() {
       return description;
   }

   public abstract double cost();
}

CondimentDecorator.java:

public abstract class CondimentDecorator extends Beverage {
   public abstract String getDescription();
}

DarkRoast.java:

public class DarkRoast extends Beverage {
   public DarkRoast() {
       description = "Dark Roast Coffee";
   }

   public double cost() {
       return .99;
   }
}

Decaf.java:

public class Decaf extends Beverage {
   public Decaf() {
       description = "Decaf Coffee";
   }

   public double cost() {
       return 1.05;
   }
}

Espresso.java:

public class Espresso extends Beverage {
  
   public Espresso() {
       description = "Espresso";
   }
  
   public double cost() {
       return 1.99;
   }
}

HouseBlend.java:

public class HouseBlend extends Beverage {
   public HouseBlend() {
       description = "House Blend Coffee";
   }

   public double cost() {
       return .89;
   }
}

Caramel.java:

public class Caramel extends Beverage {
   public Caramel() {
       description = "Caramel Coffee";
   }

   public double cost() {
       return 1.35;
   }
}

Chocolate.java:

public class Chocolate extends CondimentDecorator {
   Beverage beverage;

   public Chocolate(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Chocolate";
   }

   public double cost() {
       return .20 + beverage.cost();
   }
}

Cinnamon.java:

public class Cinnamon extends CondimentDecorator {
   Beverage beverage;

   public Cinnamon(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Cinnamon";
   }

   public double cost() {
       return .15 + beverage.cost();
   }
}

Milk.java:

public class Milk extends CondimentDecorator {
   Beverage beverage;

   public Milk(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Milk";
   }

   public double cost() {
       return .10 + beverage.cost();
   }
}

Mint.java:

public class Mint extends CondimentDecorator {
   Beverage beverage;

   public Mint(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Mint";
   }

   public double cost() {
       return .15 + beverage.cost();
   }
}

Mocha.java:

public class Mocha extends CondimentDecorator {
   Beverage beverage;

   public Mocha(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Mocha";
   }

   public double cost() {
       return .20 + beverage.cost();
   }
}

Soy.java:

public class Soy extends CondimentDecorator {
   Beverage beverage;

   public Soy(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Soy";
   }

   public double cost() {
       return .15 + beverage.cost();
   }
}

Whip.java:

public class Whip extends CondimentDecorator {
   Beverage beverage;

   public Whip(Beverage beverage) {
       this.beverage = beverage;
   }

   public String getDescription() {
       return beverage.getDescription() + ", Whip";
   }

   public double cost() {
       return .10 + beverage.cost();
   }
}

StarbuzzCoffee.java:

public class StarbuzzCoffee {

   public static void main(String args[]) {
       Beverage beverage = new Espresso();
       System.out.println(beverage.getDescription()
               + " $" + beverage.cost());
              
       Beverage beverage1 = new Decaf();
       beverage1 = new Soy(beverage1);
       beverage1 = new Mocha(beverage1);
       beverage1 = new Whip(beverage1);
       beverage1 = new Cinnamon(beverage1);
       beverage1 = new Mint(beverage1);
       beverage1 = new Chocolate(beverage1);
       System.out.println(beverage1.getDescription()
               + " $" + beverage1.cost());

       Beverage beverage2 = new DarkRoast();
       beverage2 = new Soy(beverage2);
       beverage2 = new Mocha(beverage2);
       beverage2 = new Whip(beverage2);
       beverage2 = new Cinnamon(beverage2);
       beverage2 = new Mint(beverage2);
       beverage2 = new Chocolate(beverage2);
       System.out.println(beverage2.getDescription()
               + " $" + beverage2.cost());

       Beverage beverage3 = new HouseBlend();
       beverage3 = new Soy(beverage3);
       beverage3 = new Mocha(beverage3);
       beverage3 = new Whip(beverage3);
       beverage3 = new Cinnamon(beverage3);
       beverage3 = new Mint(beverage3);
       beverage3 = new Chocolate(beverage3);
       System.out.println(beverage3.getDescription()
               + " $" + beverage3.cost());
      
       Beverage beverage4 = new Hazelnut();
       beverage4 = new Soy(beverage4);
       beverage4 = new Mocha(beverage4);
       beverage4 = new Whip(beverage4);
       beverage4 = new Cinnamon(beverage4);
       beverage4 = new Mint(beverage4);
       beverage4 = new Chocolate(beverage4);
       System.out.println(beverage4.getDescription()
               + " $" + beverage4.cost());  

       Beverage beverage5 = new Caramel();
       beverage5 = new Soy(beverage5);
       beverage5 = new Mocha(beverage5);
       beverage5 = new Whip(beverage5);
       beverage2 = new Cinnamon(beverage5);
       beverage2 = new Mint(beverage5);
       beverage2 = new Chocolate(beverage5);
       System.out.println(beverage5.getDescription()
               + " $" + beverage5.cost());
   }
}

I am using IntelliJ IDEA with JavaFX to build a travel expensive calculator, but somehow it 

wouldn't calculate total expensive? It was working until I add the TextFieldListener because I need to make sure user

only input either mile driven or airfareCost. Please help me figure out what I did wrong.

import javafx.application.Application;
import javafx.beans.value.ChangeListener;
import javafx.beans.value.ObservableValue;
import javafx.event.EventHandler;
import javafx.fxml.FXMLLoader;
import javafx.geometry.Insets;
import javafx.geometry.Pos;
import javafx.scene.Parent;
import javafx.scene.Scene;
import javafx.scene.control.Button;
import javafx.scene.control.Label;
import javafx.scene.control.TextField;
import javafx.scene.layout.GridPane;
import javafx.scene.layout.HBox;
import javafx.stage.Stage;

public class Main extends Application {

    TextField field1, field2, field3, field4, field5, field6;
    Button submitButton, cancelButton;

    @Override
    public void start(Stage primaryStage) throws Exception{

        Label label1 = new Label ("(1) Number of days on the trip");
        Label label2 = new Label ("(2) Transportation cost (choose one only)");
        Label label3 = new Label ("Airfare Cost ");
        Label label4 = new Label ("Miles driven  ");
        Label label5 = new Label ("(3) Conference registration cost ");
        Label label6 = new Label ("(4) Lodging Cost (per night) ");
        Label label7 = new Label ("(5) Food cost (total) ");
        Label TotalExpensive = new Label("Total expenses: ");
        Label TotalExpensiveResult = new Label(" ");
        Label TotalCost = new Label("How much you own: ");
        Label TotalCostResult = new Label(" ");

        field1 = new TextField();
        field2 = new TextField();
        field3 = new TextField();
        field4 = new TextField();
        field5 = new TextField();
        field6 = new TextField();//all textfield

        submitButton = new Button ("Submit"); //Create submit button
        submitButton.setDisable( true);
        cancelButton = new Button ("Cancel"); //Create Cancel button


        HBox hBox = new HBox(20, label1, field1);
        HBox hBox1 = new HBox(10, label2);
        HBox hBox2 = new HBox(15, label3, field2);
        HBox hBox3 = new HBox(10, label4, field3);
        HBox hBox4 = new HBox(12, label5, field4);
        HBox hBox5 = new HBox(32, label6, field5);
        HBox hBox6 = new HBox(75, label7, field6);
        HBox hBox7 = new HBox(20, submitButton, cancelButton);
        HBox hBox8 = new HBox(20, TotalExpensive, TotalExpensiveResult);
        HBox hBox9 = new HBox(20, TotalCost, TotalCostResult);


        hBox.setAlignment(Pos.BASELINE_RIGHT); //Alignment
        hBox1.setAlignment(Pos.BASELINE_LEFT);
        hBox2.setAlignment(Pos.BASELINE_RIGHT);
        hBox3.setAlignment(Pos.BASELINE_RIGHT);
        hBox4.setAlignment(Pos.BASELINE_RIGHT);
        hBox5.setAlignment(Pos.BASELINE_RIGHT);
        hBox6.setAlignment(Pos.BASELINE_RIGHT);
        hBox7.setAlignment(Pos.CENTER);
        hBox8.setAlignment(Pos.BASELINE_LEFT);
        hBox9.setAlignment(Pos.BASELINE_LEFT);



        hBox1.setPadding(new Insets(0,0,15,0));
        hBox3.setPadding(new Insets(0,0,15,0));
        hBox7.setPadding(new Insets(15,0,0,0));
        hBox8.setPadding(new Insets(0,0,15,0));
        hBox9.setPadding(new Insets(0,0,15,0));

        TextFieldListener listener = new TextFieldListener();
        field1.textProperty().addListener(listener);
        field2.textProperty().addListener(listener);
        field3.textProperty().addListener(listener);
        field4.textProperty().addListener(listener);
        field5.textProperty().addListener(listener);
        field6.textProperty().addListener(listener);



        GridPane gridPane = new GridPane ();

        gridPane.add(hBox, 0, 0);
        gridPane.add(hBox1, 0, 1);
        gridPane.add(hBox2, 0, 2);
        gridPane.add(hBox3, 0, 3);
        gridPane.add(hBox4, 0, 4);
        gridPane.add(hBox5, 0, 5);
        gridPane.add(hBox6, 0, 6);
        gridPane.add(hBox7, 0, 7);
        gridPane.add(hBox8, 0, 8);
        gridPane.add(hBox9, 0, 9);
        gridPane.setAlignment(Pos.CENTER);
        gridPane.setPadding( new Insets(20, 20, 20, 20));
        gridPane.setVgap( 10);
        gridPane.setHgap( 10);
        primaryStage.setTitle("Travel Expenses Calculator");
        primaryStage.setScene(new Scene (gridPane));
        primaryStage.show();

        submitButton.setOnAction(event ->
        {

            double days = Double.parseDouble(field1.getText());
            double airFare = Double.parseDouble(field2.getText());
            double miles = Double.parseDouble(field3.getText());
            double ConregCost = Double.parseDouble(field4.getText());
            double lodgingCost = Double.parseDouble(field5.getText());
            double foodCost = Double.parseDouble(field6.getText());

            TotalExpensiveResult.setText(" " + ( airFare+ foodCost + ConregCost + (days * lodgingCost)) );

        });





    }

    private class TextFieldListener implements ChangeListener<String>
    {
        @Override
        public void changed(ObservableValue<? extends String> source, String oldValue, String
                newValue)
        {
            String numTrip = field1.getText();
            String airFare = field2.getText();
            String miles = field3.getText();
            String confCost = field4.getText();
            String lodgingCost = field5.getText();
            String foodCost = field6.getText();

            if (airFare.trim().equals( "")  )
            {
                submitButton.setDisable(numTrip.trim().equals( "") ||miles.trim().equals( "") || confCost.trim().equals( "")||
                        lodgingCost.trim().equals( "")|| foodCost.trim().equals( ""));
            }

            else if (miles.trim().equals( "") )
            {
                submitButton.setDisable(numTrip.trim().equals( "") ||airFare.trim().equals( "") || confCost.trim().equals( "")||
                        lodgingCost.trim().equals( "")|| foodCost.trim().equals( ""));
            }

            else
            {
                submitButton.setDisable( true);
            }


        }
    };




    public static void main(String[] args) {
        launch(args);
    }
}

Read the following scenario and write three (3) nursing diagnosis/PES statements that would be appropriate for Millie. Identify your problem, etiology, and sign/symptoms.

Correct Nursing Dx/PES statement for scenario

Identification of problem, etiology, and signs/symptoms

I’m Millie. I have lived in the same small house for the last 50 years. Harold and I raised our dear daughter Dina here and we had many good years together as a family. Harold passed last year, he was 91 you know, and I miss him terribly. I think about him every day. We were married for 68 years, most of them were happy. We did struggle with money at times, but who didn’t? All of our family lived close by and I spent many a Sunday cooking for 15 - 20 after church. Our home was always full of people; many of them are gone now. Snuggles, my cat, keeps me company. Snuggles is about 10 years old; she is a stray who just showed up on my doorstep one day and she’s been here ever since.

I’ve always kept myself busy, I sing when I can in the church choir and I volunteer in the church kitchen. I still love to cook; the church is always asking me to make my famous chicken and dumplings when we have special dinners. I can’t do as much as I used to, but that’s ok. I am fortunate to have many close friends from church.

I also enjoy gardening and I am known for growing my prize roses. My rose garden is not quite as big as it used to be, but I still like to get outside and work with the soil and the flowers. The fresh air does me some good. There are enough roses to cut several large bouquets every summer and I share them with my daughter and my friends. Did you know that my roses used to win blue ribbons at the county fair almost every year? Since Harold is gone, I go over to my daughter Dina’s house every week to visit and see my grandkids. Dina is a good cook, but her dumplings aren’t quite as good a mine and I try to make a batch to take with me when I can. Dina works every day at school so she is busy most of the time. She is a good daughter and she helps me when I need to get to the doctor. She also picks up groceries for me once and awhile. I have three grandchildren. Jessica is 17 and she graduates from high school this year. Daniel is 14 and he is a handful! He can give his mother trouble about getting his homework done and I don’t think his grades are very good. I know Dina worries about him. Megan is 12 and she is such a sweet child. She likes to help me with my roses in the summer.

I went to the doctor last week to get my blood pressure and my cholesterol checked. He wants to start me on a new pill for cholesterol. I already take about six or eight pills every day. I hope this new pill isn’t too expensive, I already have to pay a lot for my medications and I don’t get the pension anymore since Harold died. I don’t know how Harold paid all the bills, it doesn’t hardly seem like there’s enough money for all that medicine.

I am lucky that I can still get around pretty well and my house is not too big. My knees are pretty bad; I think they are just worn out. They hurt a lot. I am thankful that I can still tend my roses. My bladder isn’t as good as it used to be, I have to use Depends now and I worry that someone will notice the odor. I can’t laugh anymore; the leakage is getting so bad. But things like that happen when you get to be as old as I am. I can’t complain.

Ann is a recent engineering graduate with two years experience in her current role and is currently looking at getting a Masters degree.

She is currently paid $60,000 per year, which she expects to increase at a 4 percent rate until she finally retires. Ann is currently 25 and expects to work for 40 more years. Her current employer offers a benefits package that includes health insurance. Ann has saved enough money to pay for a possible tuition expense and is currently taxed at 23 percent.
Ann was accepted at two of the programs she was applying to and is debating whether she should enroll in one of those programs. The details for each of the programs are as follows:

• Program A is a two-year full time program with an annual tuition of $50,000 due at the beginning of each academic year. According to the program's website, books and other required supplies are estimated to cost about $3,000 per year. The school offers a health plan for $5,000 per year.
• Program B is a one-year full time program with a tuition of $70,000 due at the beginning of the program. Although the supplies were not listed specifically on their information packet, Ann estimates a total cost for supplies and books of around $7,000. The school offers a health plan for $6,000 per year.

Both Programs offer on-campus housing which, according to Ann's estimates, should save her about $5,000 per year. Since both programs are full-time, she will need to leave her current employer if she decides to accept any of the offers.

Ann is anticipating that she will be able to secure a job offer for about $85,000 per year after graduating from program A, with a $7,000 signing bonus. The salary at this job will probably increase at 5 percent per year. Since the pay is much higher than her current income, Ann expects her average tax rate will increase to 30 percent.

For program B, Ann thinks that she will most likely be able to get an offer of $75,000 per year upon graduation, with a $6,000 signing bonus. The salary at this job will increase at 4.75 percent per year and, due to the increased level of income, her average tax rate will be 28 percent.

Given the risk of starting a new degree, Ann feels that the appropriate discount rate is 6 percent.

1. Does Ann's age have any impact on her decision to get a Masters degree?
2. Are there other factors that could impact Ann's decision? If so, what are those?
3. What is the best option from a strictly financial standpoint? For simplicity, assume all salaries are paid in full at the end of each year.
4. Ann was discussing her analysis with a friend, who mentioned she should calculate the future value of each of the scenarios. How would you evaluate this statement?
5. Although Ann believes she'll be able to get jobs paying the amount stated above for each of the programs, she is trying to understand better how much the initial salary estimate is impacting her decision. Assuming all else equal, what would the initial salaries be for each of the programs so that Ann is financially indifferent between attending that specific program or staying in her current position?
6. Discuss the impact that initial salary and growth rates have on the analysis.
7. Suppose that you need to borrow money at a rate of 5%. Does that change the answers above? What about at 10%?

*** PLEASE ANSWER ALL QUESTIONS IN PARAGRAPH FORMAT.

The following case study provides information for a hotel chain. They have recently conducted a customer satisfaction survey. Given these research results and the other information in the case, what advice would you give them? This is a good exercise in utilizing the results of market research.

ACTIVITY/TASK

The Quick-Stop Hotel Chain

Quick-Stop Hotels is a small hotel chain located along on the north coast of New South Wales. This chain consists of five different hotel complexes located several hours drive apart along the main coastal highway between Sydney and Brisbane.

Their prime target market is the family segment. This is because families often choose to drive from Sydney to Brisbane (or Brisbane to Sydney) and back again for their holidays. As this trip is around a 12-hour drive, many travelers choose to stop overnight in order break up their journey. Therefore, Quick-Stop has deliberately chosen popular stopover towns for their hotels.

In line with this location strategy, they promote themselves with the slogan, “the “perfect place for a break”.

Their individual hotels vary a little in quality, but all have either a 3 or a 4 star rating. This means that they are either medium (3 star) or good (4 star) quality in terms of facilities and general standard of accommodation. On average, they each have around 80 rooms and a fairly broad range of facilities (that is, a heated swimming pool, room service, restaurant and bar, a kid’s club during school holidays, a small gym, and some have tennis courts and a couple of stores).

In terms of promotion, they are heavy outdoor (billboard) advertisers on the coastal highway. They also advertise in various holiday and travel directories, and on the government tourism website.

As you can see from the table below, they vary pricing throughout the year. Pricing is generally used as a tool to increase demand in the low season and to increase revenue in the high season. This is necessary as they have highly seasonal demand, being frequently being booked out over the Christmas holiday period, and with very high demand in other school holiday periods.

The table also shows the results of a customer satisfaction survey for Quick-Stop Hotels. On average, 80% of customers indicated that they were satisfied with their stay and 10% were delighted with their stay. However, 10% indicated they were dissatisfied. These figures vary by season, whether the customer was a first-time customer, and by the quality of the individual hotel. Additionally, the table includes information on average room rates (per night) and occupancy levels. (Note: The occupancy level is the percentage of rooms occupied per night.)

QUESTIONS

1. Review the customer satisfaction information. Does it make sense? Why/why not?
2. Given these research results and the other information in the case, what advice would you give this firm.
3. Which of the above metrics did you find helpful? Which did you ignore?
4. What other information would have been helpful?

Tutorial 7

1.         X, Y and Z run a Townsville based import/export business in partnership and have done so for some years. When the business was established they contributed differentially to the capital of the partnership. Their individual contributions were:

X       -                 $80,000

Y       -                 $70,000

Z       -                 $50,000

To take this into account the partnership agreement provided that each partner was to be entitled to receive 10% interest per annum on his or her capital contribution. Residual profits were to be shared in the proportion in which the partners had contributed to capital. The agreement provided that individual partners could, with the consent of their co-partners, draw amounts in excess of those provided for but that, if they did, such drawings would be debited in their current accounts in the books of the partnership and would incur interest at 10% per annum payable to the partnership.

The agreement also provided that each partner is allowed to draw up to $52,000 for the year as an advance against profits.

Last year the partners decided to establish a branch office in Singapore. X agreed to lend the partnership the $250,000 that would be required at 10% per annum, the interest being paid annually as a first charge against profits and the capital being repayable upon demand. The entire capital advance remains outstanding.

Y agreed to manage the new office, leaving X and Z to operate the Townsville main office, and he moved to Singapore with his family last July. It is expected that he will remain in Singapore for at least 3 years though, ultimately, he intends to return to Townsville. To compensate him for the additional costs to which Y will be put his fellow partners agreed that he should receive $1,000 weekly salary in addition to his share of profits rather than as a payment on account of those profits.

During the current tax year the firm’s accounts showed the following receipts and business related (and deductible) outgoings (exclusive of any payments made to partners):

Receipts            Outgoings

Townsville office:                           A$600,000         A$250,000

Singapore office                            A$200,000         A$100,000

            (Note: the outgoings exclude ALL payments to partners.)

They also show a receipt of $4,000 (via a book entry not included in the above figures) being interest debited in Z’s current account on excess drawings of $40,000 during the year to finance extensions to his home.

Calculate:

(a)       the partnership net income; and

(b)       the taxable income of each partner.

Explain in detail why you include or exclude individual amounts in your calculations at each stage.

2.     Hank and Irma have operated a trucking business in partnership since 1990. To establish itself, the partnership initially borrowed heavily and Hank and Irma only contributed a small amount of capital themselves. The partnership now owns a warehouse and leases three trucks. It is very profitable.

Hank and Irma have three children: Tim aged 12, Anne aged 16 and Jane aged 18. Tim is at school, Anne is also at school but is interested in working in the business and Jane is at University.

Hank and Irma have heard that they might be able to reduce their overall tax liability – for BOTH the current year and future years – either by making the children partners in the firm or by making an Everett assignment to an existing discretionary trust in which the children are beneficiaries. It is now late April this year (towards the end of the current tax year). They seek your urgent advice.

Briefly discuss the income and CGT implications of each of those two options.