Samson plc is registered for VAT.

The following information relates to the company’s VAT return for the quarter ended 31 March 2020:

1. Sales invoices totalling £330,000 were issued to VAT registered customers, of which £240,000 were for standard-rated sales and £90,000 were for zero-rated sales.

2. Samson plc offers its standard-rated customers a 5% discount for prompt payment. This discount was taken by 1/3 of the customers.

3. Purchase invoices totalling £154,000 were received from VAT registered suppliers, of which £136,000 were for standard-rated purchases and £18,000 for zero-rated purchases.

4. Standard-rated expenses amounted to £28,000. This includes £3,900 for entertaining UK customers.

5. On 15 March 2020, the company wrote off irrecoverable receivables of £4,000 and £1,680 in respect of invoices that were due for payment on 10 August 2019 and 5 November 2019 respectively.

6. On 11 January 2020, Samson plc purchased machinery for £24,000 and sold office fittings for £8,000. Input VAT had been claimed when the office fittings were originally purchased.
7. On 1 March 2020, Samson plc purchased a motor car costing £28,400 for the use of its finance director. The finance director is provided with free petrol for private mileage, and the cost of this is included in the standard-rated expenses in note (iv). The relevant quarterly scale charge is £432. Both figures are inclusive of VAT.

Unless stated otherwise, all of the figures above are exclusive of VAT.

YOU ARE REQUIRED TO:

1. Calculate the VAT payable by Samson plc for the quarter ended 31 March 2020 and state the payment due date.

2. Samson plc is experiencing cash-flow difficulties. The company submitted its VAT return and paid the VAT due for the quarter ended 31 December 2019 on 15 March 2020.

State the consequences if Samson plc does not submit the return for the quarter ended 31 March 2020 until 25 May 2020.

(maximum word count 80 words)

TOTAL 20 MARKS

UK TAX

Exercise 6-2 (Algo) Dropping or Retaining a Segment [LO6-2]

The Regal Cycle Company manufactures three types of bicycles—a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow:

*Allocated on the basis of sales dollars.

Management is concerned about the continued losses shown by the racing bikes and wants a recommendation as to whether or not the line should be discontinued. The special equipment used to produce racing bikes has no resale value and does not wear out.

Required:

1. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes?

2. Should the production and sale of racing bikes be discontinued?

3. Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the various product lines.

What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes?

?

Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the various product lines.

Assume the required reserve ratio at The First Bank of Idaho is 10%. The First Idaho Bank is a primary dealer, which means that it is a financial institution that is able to buy and sell securities directly to the U.S. Federal Reserve (Fed). Remember any bank in the U.S. can borrow from the Fed.

Provided below is the balance sheet for The First Bank of Idaho:

Use the information as well as the balance sheet for The First Bank of Idaho provided above to complete and answer the following:

What is the amount of excess reserves held by The First Bank of Idaho?

The Fed buys $50,000 of securities from The First Bank of Idaho and pays for those securities by increasing The First Bank of Idaho’s bank deposits at the Fed. Show the effect of this transaction on The First Bank of Idaho’s balance sheet.

When completing this part of your answer, remember that reserves equal bank deposits held at the Fed, plus vault cash.

What happens to excess reserves when the Fed buys securities from The First Bank of Idaho?

What happens to the amount of loans The First Bank of Idaho can create after the Fed buys securities? What will happen to the money supply if The First Bank of Idaho makes additional loans?

Go back to the original balance sheet. Suppose The First Bank of Idaho borrows $25,000 from the Fed. Show the effect of that transaction on The First Bank of Idaho’s balance sheet.

What happens to excess reserves at The First Bank of Idaho after the discount loan? What will happen to the money supply?

What happens to the amount of loans The First Bank of Idaho can create after the discount loan?

Go back to the original balance sheet. The Fed has a new tool that can pay interest on reserves held at the Fed. If the interest rate on reserves increases, will The First Bank of Idaho be more- or less-likely to hold excess reserves? What will happen to the amount of loans The First Bank of Idaho will make if the interest rate on reserves increases? What will happen to the money supply?

The Fed is currently using three tools: open market operations, interest rate on reserves, and forward guidance. Define each tool and explain how the Fed uses that tool to increase and decrease the money supply.

1. Calculate the median, the mode, the first quartile, and the average of your first series data. (5 mark)
2. Calculate the range, the variance and the standard deviation of your first data series. (5 mark)
3. What is the coefficient of variation and correlations of the two data series? (5 mark)
4. Construct a 95% confidence interval for the population mean of the random varible based on the first data series, assuming that you already know the variance value b. Interpret the confidence interval that you have contructed.
5. Continue with question 8d, how large a sample size is required for the margin of error for a 95% confidence interval width be a small as 0.25? ( 5 marks)
6. Construct a 95% confidence interval for the population mean of the random varible based on the second data series, assuming that you do not know the variance of the random variable. Interpret the confidence interval that you have contructed.
7. Conduct a hypothesis test that the population average is (c + 1) using the second series of data in the using both the critical value rule and p-value approach ? The test significance level is 5%. ( Please clearly lay out the steps of the test) ( 10 marks)
8. What is type II error of your test in 8g when the true mean is the known value of c? ( 10 marks)
9. Can you explain how sample size could affect hypothesis test result? ( 5 marks)
10. Conduct a hypothesis test that the population mean difference between the two series of data is zero. ( 10 marks)

Xbar in the first sample: 1.5

Standard Deviation in the first sample: 1.7

Size of the first sample (n1): 13

Xbar in the second sample: 3.5

Standard Deviation in the second sample: 2.3

Size of the second sample (n2): 17

Use the conservative t-test to test the null hypothesis of equality of means. Submit the p-value of your test of significance.

First, show all work for determining the mass of the planar lamina region in the first quadrant bounded by the circle ? 2 + ? 2 = 4 and the lines ? = 0 and ? = ? √3 with a density of ?(?, ?) = ? 2 . (Hint: You may want to use a double angle formula if using polar coordinates) Second, set up the double integrals for finding the moments My and Mx. Finally, use Wolfram Alpha to determine the center of mass of the planar lamina rounded to the hundredths place.

Explore the overall market for First Solar.

a) Discuss the market share of First Solar and its top competitors by providing details on current percentages for each firm and describing the trend over time. You might consider presenting the data graphically.

b) Analyze the barriers to entry in this market to illustrate the potential for new competition and its impact on First Solar's future in the market.

c) Describe the market structure for First Solar and analyze how this affects the firm’s ability to influence the market.

1. Define homeostasis. Who was the first person to describe the phenomenon? Who was the first person to coin the term Homeostasis. Explain the processes involved in returning your body temperature to its 37°C set point during a run when your body temperature gets above 37°C.

2. As you are sitting at your desk reviewing ANS 100 lectures during Spring 2020, you look out your window and notice a new species of animal. You remember reading about this new species Covidicus whoknowswhatitis on social media and that people don’t know much about it yet. So, like a good Animal Science student you go outside to take a closer look. You see that there are lots of individuals of this species and they range in size from about 1g to 1000g. They are transparent and so you can see their internal organs (and you have superpowers, so you know the weight of everything you look at!). You notice that one individual is 10g and has a 1g liver, you then notice another individual that is 30g and has a 3 g liver. In this species, does liver size scale allometrically or isometrically? Both animals turn around and now you see their kidneys. In the 10g species the kidney is 0.5g (yes, they have big kidneys) and in the 30g species the kidney is 1g. In this species, does the kidney scale allometrically or isometrically? Explain the difference between allometric and isometric scaling. Why do many physiological processes or anatomical structures scale allometrically?

3. You are taking a nice walk through the Arboretum to get some fresh air and you notice a salmon in Putah Creek. You decide that you must return this salmon to the ocean. When you reach into Putah Creek you notice how warm the water is (15°C). When you release the salmon in the ocean at UC Davis’s Bodega Marine Lab the seawater feels quite cold (5°C). What is the body the temperature of the salmon in Putah Creek and what is the body temperature of the salmon in the ocean? You were able to take a blood sample and measure plasma chloride levels of the salmon when it was in Putah Creek and then again after you returned it to the ocean. Was the plasma chloride ion concentration higher in the salmon after you returned it to the ocean because seawater has a higher chloride concentration? Lastly, would you classify the salmon as a conformer or a regulator or does it depend? Briefly describe your answer.

4. You are an undergraduate honors student in my lab and you just came home from doing field work in the Antarctic (water temperature -1.9°C) with frozen fish muscle tissue. You are interested in learning more about adaptation to temperature so you also go to Putah Creek (water temperature = 15°C) and collect muscle tissues from another salmon you find. You put both bags of fish tissue in the freezer but forget to label them. What aspect of cellular physiology could you examine to determine which species came from water at -1.9°C and which species came from water at 15°C? What specifically would you look for to assign the fish tissues to one group or the other?

5. So, you go back to the Bodega Marine Lab after the shelter in place order has been lifted (i.e. many weeks from now) and go fishing, because, who doesn’t like to fish! The water is still very cold (5°C), so you decide swimming is a bad idea. You catch the same salmon you released from Putah Creek back in Question 3. You eat it for dinner but also take a sample of its muscle. You run it through the same set of tests you did in Question 4. What do you find and how does it compare to the salmon you caught in Putah Creek in Question 4?

6. We see beautiful Wilson warblers at Putah Creek during our fish collection. Because we have the animal care permits, we need, we collect these birds and hold them at the same two temperatures as the salmon (i.e. 5°C and 15°C). Would we expect to see the same changes as we saw in fish? Why or Why not?

7. Many different molecules need to pass in and out of a cell across the cell membrane and from the outside of the body to the inside. Some of these molecules are hydrophobic and some are hydrophilic. Define these two terms and explain why they differ in their ability to pass through cell membranes. What part of a cell membrane makes it so tricky for some molecules to get through? How do these two types of molecules pass through cell membranes?

1.- Define homeostasis. Who was the first person to describe the phenomenon? Who was the first person to coin the term Homeostasis. Explain the processes involved in returning your body temperature to its 37°C set point during a run when your body temperature gets above 37°C.

2.-As you are sitting at your desk reviewing ANS 100 lectures during Spring 2020, you look out your window and notice a new species of animal. You remember reading about this new species Covidicus whoknowswhatitis on social media and that people don’t know much about it yet. So like a good Animal Science student you go outside to take a closer look. You see that there are lots of individuals of this species and they range in size from about 1g to 1000g. They are transparent and so you can see their internal organs (and you have superpowers so you know the weight of everything you look at!). You notice that one individual is 10g and has a 1g liver, you then notice another individual that is 30g and has a 3 g liver. In this species, does liver size scale allometrically or isometrically? Both animals turn around and now you see their kidneys. In the 10g species the kidney is 0.5g (yes, they have big kidneys) and in the 30g species the kidney is 1g. In this species, does the kidney scale allometrically or isometrically? Explain the difference between allometric and isometric scaling. Why do many physiological processes or anatomical structures scale allometrically?