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- According to the new renumeration scheme, the starting pay of a (b) technician is RM2029 per month and the annual increment is RM101. Ahmad who is 25 years old becomes a technician in a medium company. i. What will his monthly salary be when he is 45 years old? What will his age be when he gets a monthly payment of RM3847? ii.Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1 st July 2019. Phumlani ends his account on 31 st December of every financial year. a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1 st July 2019. Phumlani receives an interim account sales with a bank draft from Christian on 28 th December 2019. It shows the following and all currencies converted into US dollars ($): b. Christian has sold 8 cases of goods for $400 each. c. Christian has paid a total of $150 for landing charges and import duties on receipt of the whole consignment. d. He paid selling costs in respect of the 8 cases sold amounting to $160. e. He has deducted his commission of 10% in respect of the 8 cases sold. f. Christian encloses a bank draft of $2,570 to the account sales. Phumlani now wishes to balance off his consignment account at his financial year end 31 st December 2019 and transfer the profit to date to his profit…Facts Lucy is the Finance Director for Capital Products Pty Ltd. Lucy was previously located at the head office in Adelaide but is currently working from the Canadian office, having relocated there on 1 August 2020. Capital Products anticipate that Lucy will head up the Canadian office for one year with an option to stay for another one year. Paula’s contract with Capital Products entitles her to a salary of $600,000 for 2020/21. This is paid at the rate of $50,000 per month. Lucy sells her shares in Australian companies before she leaves Australia and makes a capital gain of $16,000. She makes another capital gain of $28,000 in January 2021 when she sells shares in Canadian companies. Luc’s husband and two small children will remain in Adelaide. Lucy will rent a studio apartment in Canada and will keep the Adelaide home. Question Discuss Lucy’s status (resident or not) for Australian tax purposes for 2020/21 and the tax implications of the transfer to Canada.
- Lucy is the Finance Director for Capital Products Pty Ltd. Lucy was previously located at the head office in Adelaide but is currently working from the Canadian office, having relocated there on 1 August 2020. Capital Products anticipate that Lucy will head up the Canadian office for one year with an option to stay for another one year. Paula’s contract with Capital Products entitles her to a salary of $600,000 for 2020/21. This is paid at the rate of $50,000 per month. Lucy sells her shares in Australian companies before she leaves Australia and makes a capital gain of $16,000. She makes another capital gain of $28,000 in January 2021 when she sells shares in Canadian companies. Luc’s husband and two small children will remain in Adelaide. Lucy will rent a studio apartment in Canada and will keep the Adelaide home. Question Discuss Lucy’s status (resident or not) for Australian tax purposes for 2020/21 and the tax implications of the transfer to Canada.Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1" July 2019. Phumlani ends his account on 31* December of every financial year. a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019. Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019. It shows the following and all currencies converted into US dollars ($): b. Christian has sold 8 cases of goods for $400 each. Christian has paid a total of $150 for landing charges and import duties on receipt of the whole consignment. d. He paid selling costs in respect of the 8 cases sold amounting to $160. He has deducted his commission of 10% in respect of the 8 cases sold. C. е. f. Christian encloses a bank draft of $2,570 to the account sales. Phumlani now wishes to balance off his consignment account at his financial year end 31st December 2019 and transfer the profit to date to his profit and loss account.…Fred currently earns $9,000 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $10,000 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $105,900. Return to question Item 3 Required information Skip to question [The following information applies to the questions displayed below.]Fred currently earns $9,000 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $10,000 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $105,900. a-1. How much U.S. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas for the entire year? b. Suppose that Fred's employer has offered Fred a six-month overseas assignment beginning on…
- Following issues remain outstanding in the preparation of the financial statements for Martin plc for the year ended 31 December 2020: i). On 1 July 2020, Martin plc received a government grant of £120,000 to employ 10 young people on apprenticeship schemes lasting three years. Conditions attached to the grant specified that Martin plc must employ at least 10 apprentices under the scheme, or all of the grant would become repayable. The 10 apprentices had been taken on by Martin plc by 1 July 2020 on 3 year apprenticeship contracts. The financial controller for Martin plc credited the full £120,000 to other income. ii). During the financial year ended 31 December 2020, Martin plc incurred £188,000 of research and development expenditure related to a new product. On 30 May 2020, Martin plc determined that the development of the new product was commercially viable and technically feasible. £43,000 of the total costs were incurred before this date. The remaining costs were incurred in the…Amir joined Takaful Sayang by paying RM400 per month. Takaful Sayang, with a contract of mudharabah investment, has two accounts which are Participant Special Account (PSA) and Participant Account (PA). The takaful offers the following PSA rates: Year PSA (%) First 100* Second Third Fourth Fifth -10 -40 -50 -60 Sixth to tenth -70 Eleventh onwards -80 * Initial percentage. Any positive or negative increment in the monthly rates shown above is based on the initial rate in the first year. After twenty-five (25) years, Amir wants to terminate the takaful contract. Based on the above information, answer the following questions. (a) How much is the total amount of money that has become tabarru' in that Takaful? (b) Assume that Amir neither claims nor makes any withdrawal during the period of his contribution to the Takaful and his total investment profit for twenty-five years is RM20,500 (one-off only). How much is the total amount of money that will be received by Amir after he closes the…Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana onthe 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019.Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019.It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of thewhole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales.Phumlani now wishes to balance off his consignment account at his financial year end 31st December2019 and transfer the profit to date to his profit and loss account. a. Prepare…
- Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana onthe 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019.Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019.It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of thewhole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales.Phumlani now wishes to balance off his consignment account at his financial year end 31st December2019 and transfer the profit to date to his profit and loss account Prepare the…Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019.Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019. It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of the whole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales. Phumlani now wishes to balance off his consignment account at his financial year end 31st December 2019 and transfer the profit to date to his profit and loss account.…Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019.Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019. It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of the whole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales.Phumlani now wishes to balance off his consignment account at his financial year end 31st December 2019 and transfer the profit to date to his profit and loss…
