Quiz Essay example - 902 Words

1. Turnadot Sons is a small wholesaler of decorative cast iron objects. The following events, related to a special customer order, occur as described below;? August 5, 2005: Turnadot receives the special order for 200 outdoor planters at a selling price of $50 each, including delivery at a future convenient time and location. The customer, with whom Turnadot has had a long-term, trouble-free relationship, pays $3,000 as a deposit and agrees to pay the rest on delivery. Turnadot immediately orders $4,000 worth of planters from its supplier and pays a $1,000 deposit for them.;? August 27, 2005: Turnadot pays $3,000 balance due to the supplier upon delivery of the planters to its warehouse.;? September 5, 2005: The customer calls for†¦show more content†¦Debit the current asset advances to suppliers $1,000, credit cash $1,000;? Debit inventory $1,000, credit cash $1,000;? Debit cost of goods sold $4,000, credit cash $1,000, credit accounts payable $3,000;? Debit cost of goods sold $1,000, credit revenues $1,000;3. Turnadot Sons is a small wholesaler of decorative cast iron objects. The following events, related to a special customer order, occur as described below;? August 5, 2005: Turnadot receives the special order for 200 outdoor planters at a selling price of $50 each, including delivery at a future convenient time and location. The customer, with whom Turnadot has had a long-term, trouble-free relationship, pays $3,000 as a deposit and agrees to pay the rest on delivery. Turnadot immediately orders $4,000 worth of planters from its supplier and pays a $1,000 deposit for them.;? August 27, 2005: Turnadot pays $3,000 balance due to the supplier upon delivery of the planters to its warehouse.;? September 5, 2005: The customer calls for delivery of the planters, and pays the balance of $7,000 when they arrive at the customer site.;On August 27, 2005, upon delivery of planters to Turnadots warehouse and payment of $3,000Show MoreRelatedEssay The Quiz Sh ow1015 Words   |  5 Pages The film, â€Å"The Quiz Show† is about the famous public revealing of a rigged television production called Twenty-One during the 1950s. The shows main attraction, a Jewish Queen’s resident named Herbert Stempel, rose to fame as families around the county watched the bright contestant correctly answer question after question, week after week. As ratings and profits began to plateau sponsors and producers felt a change of face was necessary. Producers recruit Charles Van Doren an instructor from ColumbiaRead MoreEssay about Representation of Class in the Film Quiz Show784 Words   |  4 PagesRepresentation of Class in the Film Quiz Show When producing any form of media you must be careful with your representation of people. You have to be extremely cautious when you produce something that will be seen by lots of people. It is too easy to offend people in this day and age, and it is therefore imperative that you give accurate representation. However, because of the over-sensitivity in society we are left with very little belligerent or provocative contentRead MoreSports Leadership Of The 21st Century1105 Words   |  5 Pagesyoung experts and sport administration understudies get to be pioneers in various regions of sports. Dockweiler, S. (2014, August 2). Https://www.themuse.com/advice/the-most-useful-personality- quiz-youll-take-this-week. Retrieved September 25, 2016, from http://time.com/3074037/personality-quiz/ This quiz by Dockweiler will not only help you to discover traits about yourself that you may have not noticed before, but its an actual eye opener and he has some great ideas that may be beneficial in theRead MoreDr. Kirklands Class Letter Essay807 Words   |  4 Pagesmeans that it is imperative to do well when it comes to the â€Å"easy points† – that is the lecture participation, section participation, and chapter quizzes. These are some of the things that worked best for me in ensuring a high grade: Attending every quiz section and lecture section is important, since participation counts for every day you show up, not to mention the material covered in section often involves the tricky concepts that will only benefit you through practicing them. 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When I am a leader of a group people sometimes say that I am a excellent leader. If teachers give me a task I can be highly effective. I will be highly effectiveRead MoreQuiz837 Words   |  4 PagesQuestion 1 1 / 1 pts According to the text, which of the following is NOT recommended when you are attempting to establish confirming relationships with others in the organizational setting?lt;brgt; According to the text, which of the following is NOT recommended when you are attempting to establish confirming relationships with others in the organizational setting? Attempt to focus on problem solving. Be as honest as possible. Use evaluative you language. Use evaluative youRead MoreGlossary Concept Quiz : Glossary Quiz812 Words   |  4 PagesAli DeLine Ortiz Edu 201 February 1, 2016 Glossary Concept Quiz Chapter One: 1. Assessment-context that is defined clearly to learners and shows the assessors what the learners understands. 1. 2.Criterion-referenced test- discovering what a learner knows about addition tow digit numbers without regrouping the numbers. 2. Norm-referenced assessment- determination of how much a student knows compared to the other students. 3. Formative assessment-Teachers that collect evidence about what a studentRead MoreFinal Quiz1080 Words   |  5 PagesWeekly Quizzes – 15% You are expected to complete each quiz as you finish reading a chapter. The quiz on the reading is due on Monday the week after the reading is assigned by class time (5:00 p.m. Central Time). The system will lock quizzes at that time, which means that incomplete quizzes will be submitted automatically. Because you have at least a week to complete each quiz, I will not re-open quizzes after the due date has passed. The quizzes are open-book. You are allowed two untimed attemptsRead MoreQuiz2161 Words   |  9 PagesWeek 2: Exercises and Homework Problems 1. Of the adult U.S. population, 36% has an allergy. A sample of 1200 randomly selected adults resulted in 33.2% reporting an allergy. a. Describe the population. b. What is the sample? c. Describe the variable. d. Identify the statistic and give its value. e. Identify the parameter and give its value. 2. (HWK) A drug manufacturer is interested in the proportion of persons who

Looking Through The Eyes Of Female Narrators - 1833 Words

Looking through the eyes of female narrators provides an opportunity to complete the story of a time period one hasn’t experienced and discover women in history. In primary historical accounts, as well as dependable sources such as textbooks, history is often about the men that fought the wars, the men that had ideas, and the men that are remembered. Historical fiction, however, is a medium that provides authors with the chance to tell a story often narrated or focused around the story of a woman or women from a certain time period. This teaches readers about the women and their roles across the ages. Historical fiction tells an important, missing point of view: the stories left untold. Historical fiction is defined as â€Å"a work of writing that reconstructs the past† (study.com). ‘Re-imagined’ fiction embodies real past events, people, and culture in a fictional story. The goal of historical accounts is to prove what actually happened as well as what was documented. Historical fiction can tell what is hidden underneath logic and reality. Not only women are excluded, but colored people, queer people, disabled people, and mentally ill people are also left out of the record. It is generally the author’s goal to portray an underrepresented side or layer of a story. Writing women into our history through fiction based on real accounts is not only an important project, but it can also be a controversial undertaking. The problem with telling the stories of these women is the scarcityShow MoreRelatedThe Yellow Wall Paper By Charlotte Gilman1139 Words   |  5 Pageslight how much the narrator hates wallpaper and is a significant symbol portray al of awful state. The yellow wallpaper can have a representation of many conditions and ideas, among them, the mental state of the narrator. The paper is going to survey what the yellow wallpaper represents and notice how it is being depicted over the progression of the story. In addition, it will be explored why the yellow paper is likened to the narrator’s mental state. We start this by looking the state of women inRead MoreThe s Cane, Misunderstanding, Violence, And Even Death1639 Words   |  7 Pagesand they cannot see the interiority of the female character. The use of connecting women to nature suggests that Jean Toomer is looking at gender and how masculinity shapes the female role into isolation as physical objects of sexual desires. Communication fails because men only regard women as surfaces that have no identities. Men fail to understand or communicate with women because there is no spiritual connection – only physical. 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The History of Espn Free Essays

$91, That’s all it cost to have ESPN incorporated back in 1978, when it was only run by three people, Bill Rasmussen, Scott Rasmussen, and Ed Eagan. Now if you take a look at ESPN today, you’ll see one of the world’s largest broadcast corporations. The History of ESPN is a long and pretty interesting story. We will write a custom essay sample on The History of Espn or any similar topic only for you Order Now Like stated above, the history of ESPN truly begins on September 7th, 1978, when the three founders paid $91 to have the company incorporated. After deciding to go with a 24-hour broadcasting schedule, ESPN debuted with Sports Center later that month, and then began to air a large variety of sports ranging from professional soft ball, to NCAA wrestling. Their fist dabble into a massive professional sport would be with the United States Football League, who’s games would be aired on the network. The league only survived for three years, but it gave the network the experience it needed when they gained partial rights to air Sunday Night football games, in 1987. Sunday Night Football would be on the network for nineteen years, till they switched to Monday nights. These are just the starting years to the massive behemoth that is ESPN. The 1990’s, a good a time period as any for ESPN. They gained rights to air MLB games, and also saw the founding of ESPN 2, in 1993. ESPN radio kicked of a year before ESPN 2, in 1992, making the company multi medial. 1996 saw the presence of Disney corperation, the parent company of ESPN, merge ABC sports and ESPN together. In 1997, ESPN started using SKYCAM to air it’s NHL games, and would soon put that innovative tech to use with the three other major sports leagues, MLB, NFL, and NBA. Company founders were long gone now, and things were looking really good for the future of the company. How to cite The History of Espn, Papers

Case Study on Capital Gains Tax and Fringe Benefits Tax

Questions: Case study 1: Capital Gains Tax. 2: Fringe Benefits Tax. Answers: Answer to Case Study 1:- a) Calculation of Net Capital Gain/ Loss of Individual Taxpayer:- It is assumed that Dave Solomon, is an individual, whose main source of income is the salary, paid by his employer. He is not involved any kind of trading business. The assets sold by him in the current tax year can be considered, completely, as his capital assets. Moreover, he has generated any revenue from those assets earlier. Calculation of Net Capital Gain/Loss:- The net taxable capital gain or loss, generated from the sale of assets by David Solomon in the current tax year, is presented below (Law.ato.gov.au, 2016):- Name of Taxpayer : Dave Solomon Type : Individual Calculation of Net Capital Gain/Loss for the period ending on 30th June,20. Particulars Amount Amount $ $ a) Sale of Paintings : Selling Price of the Painting 125000 Less : Purchase Price of the painting 15000 Capital Gain on Sale 110000 Less : 50% Exemption on Capital Gain 55000 Taxable Capital Gain (A) 55000 55000 b) Sale of Luxury Motor Cruiser: Selling Price of the Cruiser 60000 Less : Purchase Price of the Cruiser 110000 Net Capital Loss (B) -50000 -50000 c) Sale of Shares: Selling Price of the Shares 80000 Less : Purchase Price of the Shares 70000 Less : Brokerage on Sale of Shares 750 Less : Stamp Duty on purchase of Shares 250 Taxable Capital Gain ( C) 9000 9000 Total Taxable Capital Gain (A+B+C) 14000 Less : Capital Loss of Previous Year 10000 Net Taxable Capital Gain 4000 Important Notes:- The capital gain on sale of the residential house of David Solomon is taken into consideration for ascertaining taxable capital gain, as the house was used for residential purpose by the taxpayer. According to the Australian Taxation Rule, any capital gain, generated from the sale of residential property is exempted from taxation (Woellner et al. 2012). The forfeiture of the deposits for breaching of contract by the purchaser has occurred within continuum of event. Therefore, the forfeiture of deposit is not considered as CGT event (Chan 2014). The painting, which has been sold in the current year, was purchased on not before 20th September, 1985, but on the same day. Therefore, it should be treated as a post CGT collectable asset and is allowed to have 50% exemption on the capital gain on sale of the asset (Conesa and Domnguez 2013). The luxury motor cruise is a personal asset and it has been owned by the taxpayer for more than 2 years. But, as the selling has generated capital loss, therefore, it is not allowed for 50% exemption (Faccio and Xu 2015). The shares, sold in the current year, are also purchased in the same period. The interest on loan, taken for purchasing the shares, is not considered as deductible expenses, as the taxpayer has not earned any income from the shares. The brokerage and stamp duty are incurred for acquiring and selling the asset. So, these costs are deducted from the respective capital gain (Harding 2013). The capital loss can be adjusted against capital gains only and it can be carry forwarded in future tax periods. Therefore, the capital loss of the previous year, is adjusted against the capital gain of the current year (Jacob and Jacob 2013). b) Consequences for Net Capital Gain:- The net capital gain, earned by David Solomon in the current year, will be added with the other assessable income to ascertain the net taxable assessable income of the taxpayer. The income slab for taxation purpose will be then determined on the basis of that net taxable income. c) Consequences for Net Capital Loss:- If David Solomon would generate any net capital loss, then that would be carry forwarded into next tax periods. It would be adjusted only if the taxpayer would generate any capital gain in future. Answer to Case Study 2:- a) Consequences Calculations for Fringe Benefit Tax of Periwinkle Pty. Ltd.:- Consequences for FBT:- It is assumed that Periwinkle Pty. Ltd. is a normal company and not entitled to any benefit for small business entities. The FBT consequences of Periwinkle, aroused for the benefits provided to Emma, one of the employee of the company is discussed below:- 1) It is assumed that the employee uses the car not only for office use but for non-work related purpose in frequent and regular basis. Therefore, the car benefit should be accounted for FBT as it is allowed to use for private purposes (Stilwell 2016). During the interstate travel of the employee, the car was parked at airport, not at the employers premises and the repairing of the car was annual maintenance type, not an unscheduled repairing. Therefore, the ten days, when the car was not used, also to be included in the FBT calculation (Hodgson and Pearce 2015). The statutory formula method is used for estimating the car fringe benefit. The calculation of car fringe benefit is shown in the following table:- Calculation Of Car Fringe Benefit:- Particulars Details Total Kms. Travelled during the FBT year A 10000 No. of Days in the FBT year B 366 No. of Days of Travel C 336 Annualised Kilometers (A x B/C) 10892.857 Statutory Rate as per Annualised Km. E 20.00% Cost Base F $33,000 No. of Days available for Private Use C 336 No. of days in FBT Year B 366 Taxable Value (FxExC)/B $6,059.02 2) The interest charged on the loan, given to the employee, should be treated as FBT. The Benchmark Interest Rate for such loan is 5.95% (Ato.gov.au, 2016). The company has charged the loan at an interest rate of 4.45%. As the actual rate is lower than the Benchmark Rate, the FBT should be calculated on the actual rate of interest (Pearce and Pinto 2015). The calculation for FBT on interest on loan is shown below:- Calculation of Interest on Loan for FBT:- Particulars Details Loan to Employee A $500,000 Benchmark Interest Rate B 5.95% Actual Interest Rate C 4.45% Taxable Value Interest on Loan D = (AXC) $22,250 3) The bathtub provided to the employee at a special discounted rate, is a FBT expense. The taxable value of the bathtub is estimated at 75% of the normal selling price and the FBT is calculated accordingly in the following table (Ato.gov.au, 2016):- Calculation of Special Discount for FBT:- Particulars Amount $ Market Price of the Bathtub A 2600 Special Price for the Employee B 1300 Taxable Value of the Bathtub C=A x 75% 1950 Taxable Value of Benefit C - B 650 Calculation of FBT:- The Fringe Benefit Tax for Periwinkle Pty. Ltd. is calculated in the following table according to the above-mentioned assumptions (Ato.gov.au, 2016):- Name of Taxpayer : Periwinkle Pty. Ltd. Type : Company Calculation of Fringe Benefit Tax for the period ending on 31st March,2016 GST Inclusive GST Free Particulars Amount Amount $ $ Car Benefit 6059.02 Interest on Loan 22250 Sale at Special Rate 650 Total of GST Inclusive/Free Benefits 6059.02 22900 A B Gross-up Rate 2.1463 1.9608 C D Gross-up Value 13004.47 44902.32 E = A x C F=B X D Total Taxable Fringe Benefit 57906.79 G = E + F Fringe Benefit Tax Rate 49% J Fringe Benefit Tax Liability 28374.33 K = G x J b) Alternative Consequences:- If the employer, herself, purchased the shares, instead of her husband and earn dividend from such shares, then the part interest on loan for $50000, will be considered as an deductible expenses of the employee. Therefore, the FBT of the employer will also get reduced accordingly (Eccleston 2013). Reference List:- Ato.gov.au. (2016).How to calculate your FBT | Australian Taxation Office. Ato.gov.au. (2016).Property fringe benefits | Australian Taxation Office. Chan, C., 2014. Earnouts and CGT: Fine-tuning the.Tax Specialist,18(1), p.27 Conesa, J.C. and Domnguez, B., 2013. Intangible investment and Ramsey capital taxation.Journal of Monetary Economics,60(8), pp.983-995 Eccleston, R., 2013. The Tax Reform Agenda in Australia.Australian Journal of Public Administration,72(2), pp.103-113 Faccio, M. and Xu, J., 2015. Taxes and capital structure.Journal of Financial and Quantitative Analysis,50(03), pp.277-300 Harding, M., 2013. Taxation of dividend, interest, and capital gain income Hodgson, H. and Pearce, P., 2015. TravelSmart or travel tax breaks: is the fringe benefits tax a barrier to active commuting in Australia? 1.eJournal of Tax Research,13(3), p.819 Jacob, M. and Jacob, M., 2013. Taxation, dividends, and share repurchases: Taking evidence global.Journal of Financial and Quantitative Analysis,48(04), pp.1241-1269 Law.ato.gov.au. (2016).TR 1999/19 - Income tax capital gains: treatment of forfeited deposits (As at 11 October 2000).