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Accounting
Question 1
a) Doug (resident of Australia) earns $190,000 from his employment as an IT specialist. He has
no allowable deductions.
b) Doug (resident of Australia) earns $32,500 from his employment as an IT specialist. He has
no allowable deductions.
c) XYZ Pty Limited (resident of Australia and not an SBE / BRE) has assessable income of $32,500 for
the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to the situations
referred to above for the year ended 30 June 2019.
a) Doug (resident of Australia) earns $190,000 from his employment as an IT specialist. He has
no allowable deductions.
b) Doug (resident of Australia) earns $32,500 from his employment as an IT specialist. He has
no allowable deductions.
c) XYZ Pty Limited (resident of Australia and not an SBE / BRE) has assessable income of $32,500 for
the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to the situations
referred to above for the year ended 30 June 2019.
Accounting
Writers' Company produces 2 products presently
Fountain
Pen ball point
Unit 10000 20000
Area occupied (sq feet) 7000 8000
Variable cost - direct 32 25
Fixed cost - direct (per unit) 10 8
Rent – fixed cost per
Month(indirect – common for all products)
The Fixed indirect cost of Rent of Rs 3,00,000/- is to be allocated to both the products
The company was doing this on the "number of units" basis till now.
a. Please compute cost per unit of each product basis the above method.
Fountain
Pen ball point
Unit 10000 20000
Area occupied (sq feet) 7000 8000
Variable cost - direct 32 25
Fixed cost - direct (per unit) 10 8
Rent – fixed cost per
Month(indirect – common for all products)
The Fixed indirect cost of Rent of Rs 3,00,000/- is to be allocated to both the products
The company was doing this on the "number of units" basis till now.
a. Please compute cost per unit of each product basis the above method.
Accounting
8. Avoplant is in the agriculture industry. It basically plants and sells avocado. The company owns a huge piece of land in South Lebanon at an elevation of around 400m above sea level which makes it perfect place for avocado. Avoplant is all equity financed. The company is planning to go public and investors are estimating its cost of equity. You are asked about the beta of the company. Which, in your opinion, is your best guess about the company’s beta:
a. Beta of Avoplant is low because people will eat no matter of what the economic situation is.
b. Beta is low because of their business model perfect location for avocado and no debt.
c. Beta is high because the demand for avocado is sensitive to economic conditions
d. Beta is high because there is a high chance of having a bad crop this year
e. Beta cannot be determined because we do not have a reliable market index for Lebanon
Why:____________________________________________________________________
a. Beta of Avoplant is low because people will eat no matter of what the economic situation is.
b. Beta is low because of their business model perfect location for avocado and no debt.
c. Beta is high because the demand for avocado is sensitive to economic conditions
d. Beta is high because there is a high chance of having a bad crop this year
e. Beta cannot be determined because we do not have a reliable market index for Lebanon
Why:____________________________________________________________________
Accounting
Depreciation is the reduction in the usable value of fixed assets due to normal wear and tear of time. Depreciation is an indirect non – cash expenditure which is provided on SLM or WDV basis.
Rahul is new junior accountant with Hardwork Mills Private Limited he wants to understand normal depreciation differs from additional depreciation. As a tax adviser, guide him on the two concepts and discus the cases where additional depreciation is not allowed.
Rahul is new junior accountant with Hardwork Mills Private Limited he wants to understand normal depreciation differs from additional depreciation. As a tax adviser, guide him on the two concepts and discus the cases where additional depreciation is not allowed.
Accounting
Calculate the present value of a growing perpetuity with the following information (round off the
answer to the nearest rand):
Cash flow at the end of the first year R60 000
Growth rate (g) 10%
Opportunity cost 20%
answer to the nearest rand):
Cash flow at the end of the first year R60 000
Growth rate (g) 10%
Opportunity cost 20%
Accounting
What will my investment of R100 500 be worth if my bank pays me simple interest of 9% per
annum and I invest my money for 180 days?
annum and I invest my money for 180 days?
Accounting
If producing 200 buttons and 200 safety pins daily is a 50 1/0 split of resources, where do we see the opportunity cost if you decide to produce 300 buttons and 100 safety pins ?
Accounting
Hybrid dealers bought computer equipment for R 54 000 on 1July 2018. The equipment depreciated at 20% according to the diminishing balance method. Prepare the depreciation and closing entries in the general journal of Hybrid dealers on 31 March 2019 and 31 March 2020
Accounting
Q.1.1 Hybrid Dealers bought computer equipment for R54 000 on 1 July 2018. The equipment is depreciated at 20% according to the diminishing balance method.
Required:
Prepare the depreciation and closing transfer entries in the general journal of
Hybrid Dealers on 31 March 2019 and 31 March 2020. (15)
Required:
Prepare the depreciation and closing transfer entries in the general journal of
Hybrid Dealers on 31 March 2019 and 31 March 2020. (15)
Accounting
Suppose we deposit $565 worth of currency into the bank. Banks make as many loans as possible, people hold no additional currency, and the reserve ratio is 15%. As a result of the loan process, what is the value of total deposits in the banking system? Enter a whole number with no dollar sign. Round to the nearest whole number.
