Accountingacademic

On 24 August 2024, Mr. Jacobs, a retired businessman aged 67, died in a motor accident. He was married out of community of property to his wife Sara (both are resident in South Africa). On 24 August 2024 he owned the following assets: 1. An Audi convertible with a market value of R850 000. He bought the car on 1 January 2024 for R1 380 000. This motor vehicle was bequeathed to his son, Rami. 2. A holiday flat in Plettenberg Bay with a market value of R4,5 million. He had purchased the flat on 1 May 2001 for R2,75 million. The market value on 1 October 2001 was R3.4 million. In his valid will he bequeathed this asset to the Rahman Family Trust. The time apportionment based cost is estimated at R3.1 million. 3. A 12 metre long yacht with a market value of R3.4 million. It had originally cost him R4.6 million in 2017. This yacht was bequeathed to the Sailing for Youth Foundation, an approved public benefit organisation. 4. His Gold Krugerrand coin collection with a market value of R750 000. This were originally purchased by his father for R150 000 and had a market value of R450 000 when Mr Rahman inherited the coins on 1 September 2011. He bequeathed this collection to his surviving spouse. 5. His primary residence in Constantia with a market value of R7.5 million. He owned this property jointly with his wife i.e. each owned 50%. They had purchased the property on 30 June 1998 for R2.2 million. The market value on 1 October 2001 was R3.45 million. In his will he left his share to his daughter on condition that she did not attempt to sell it until the death of his wife. REQUIRED: Calculate Mr Jacobs' taxable capital gain for the 2024 year of assessment. Give reasons if any exclusions applied.

The following assets, interests etc. were found in the joint estate: 1. 2. 3. A bona fide farm "Sure Mornridge" at open market value Proceeds of policy X on the life of the deceased, paid to the estate Premiums and interest on the policy amounted to R500 000. Solly took out the policy and also paid the premiums. R4 750 000 R2 350 000 Proceeds of policy Y on the life of the deceased, paid directly to the surviving spouse. R1 450 000 Premiums and interest on the policy amounted to R350 000. Solly took out the policy and also paid the premiums. 4. 5. 6. 7. 8. Furniture and personal effects at valuation Tractor and implements at valuation Listed shares – value at listed price on date of death The executor sold the shares on 10 May 2024 for R900 000 Member’s interest in Sweet Dreams CC –auditor’s valuation 000 The executor sold this member’s interest in the CC to the other member of the CC for R700 000, in terms of an agreement between the members, made long before Solly’s death. R 795 000 R 1 100 000 R 760 000 R 8250 Solly, a retired municipal officer of the Eastrand council, received a monthly- pension of R25 000 from the Council’s pension fund. The pension will be paid to his spouse after his death but will be reduced to R18 000 per month. In Solly and Jane's valid joint will, R200 000 was bequeathed to Solly's Alma Mater, the University of South Africa, an approved public benefit fund. The residue of the estate was bequeathed to the surviving spouse. The joint will was adiated by his surviving spouse. There were no liabilities in the estate, except for funeral expenses of R20 400, and Master's fees and executor's remuneration according to the tariffs. REQUIRED: Calculate the estate duty, if any, payable in Solly Mkhize's estate.

LINEAR ALGEBRA II: Assignment No.2(Sets, Relations and Functions). AUGUST 2025: Date of Submission Wednesday 3rd September, 2025: mode of submission – hard copy or email @ willyacadamia2019@gmail.com. Section One 1. Which of the following sets are equal? A = {x | x2 − 4x + 3 = 0}, C = {x | x ∈ N, x < 3}, E = {1, 2}, G = {3, 1}, B={x|x2−3x+2=0}, D = {x|x∈N, x is odd, x<5}, F={1,2,1}, H={1,1,3}. Hint: for the quadratic Equations, get the values of x which shall be elements of set A and B.) 2. List the elements of the following sets if the universal set is U = {a, b, c, ..., y, z}. Furthermore, identify which of the sets, if any, are equal. A = {x |x is a vowel}, C = {x |x precedes f in the alphabet}, B = {x |x is a letter in the word “little”}, D = {x |x is a letter in the word “title”}. 3. Let A= {1,2,...,8,9}, B={2,4,6,8}, C={1,3,5,7,9}, D={3,4,5}, E={3,5}. Which of the these sets can equal a set X under each of the following conditions? (a) X and B are disjoint. (c) X⊆A but X ⊈ C. (b) X ⊆ D but X ⊈ B. (d) X⊆C but X ⊈ A. 4. Consider the universal set U = {1,2,3,...,8,9} and sets A={1,2,5,6}, B={2,5,7}, C={1,3,5,7,9}. Find: (a) A∩B and A∩C (b) A∪B and B∪C (d)A\BandA\C (f)(A∪C)\Band(B⊕C)\A (c)AC and CC (e) A⊕B and A⊕C 5. The formula A\B = A ∩ B C defines the difference operation in terms of the operations of intersection and complement. Find a formula that defines the union A ∪ B in terms of the operations of intersection and complement. 6. The Venn diagram in Fig. (a) shows sets A, B, C. Shade the following sets: (a) A\(B∪C); (b)AC∩(B∪C); (c)AC∩(C\B). ( Note you can draw different diagram for each answer to avoid shading overlapping and congestion.) 7. Write the dual of each equation: (a) A=(BC∩A)∪(A∩B) (b) (A∩B)∪(AC∩B)∪(A∩BC)∪(AC∩BC)=U 8. Use the laws in Table 1-1 to prove each set identity: (a) (A∩B)∪(A∩BC) = A (b) A∪B=(A∩BC)∪(AC∩B)∪(A∩B) Section Two 9. Determine which of the following sets are finite: (a) Lines parallel to the x axis. (c) Integers which are multiples of 5. (b) Letters in the English alphabet. (d) Animals living on the earth. 1 10. A survey on a sample of 25 new cars being sold at a local auto dealer was conducted to see which of three popular options, air-conditioning (A), radio (R), and power windows (W ), were already installed. The survey found: 15 had air-conditioning (A), 12 had radio (R), 11 had power windows (W), 5 had A and P , 9 had A and R, 3 had all three options. 4 had R and W, Find the number of cars that had:(a) only W; (b) only A; (c) only R; (d) R and W but not A; (e) A and R but not W; (f) only one of the options; (g) at least one option; (h) none of the options. 11. Find the power set P(A) of A={1,2,3,4,5}. 12. Given A = [{a,b},{c},{d,e,f}]. (a) List the elements of A. (b) Find n(A). (c) Find the power set of A. 13. Let S = {1, 2, ..., 8, 9}. Determine whether or not each of the following is a partition of S : (a) [{1,3,6},{2,8},{5,7,9}] (b) [{1,5,7},{2,4,8,9},{3,5,6}] (c) [{2,4,5,8},{1,9},{3,6,7}] (d) [{1,2,7},{3,5},{4,6,8,9},{3,5}] Section Three 14. Prove : 2+4+6+···+2n = n(n+1) Using Mathematical Induction 15. Let S={a,b,c},T={b,c,d}, and W={a,d}. Find S×T×W. 16. Find x and y where: (a)(x+2,4)= (5,2x+y); (b)(y−2, 2x+1)= (x−1, y+2). 17. Prove: A×(B∩C)=(A×B)∩(A×C) 18. Consider the relation R = {(1, 3), (1, 4), (3, 2), (3, 3), (3, 4)} on A = {1, 2, 3, 4}. (a) Find the matrix MR of R. (b) Find the domain and range of R. (c) Find R−1. (d) Draw the directed graph of R. 19. Determine if each function is one-to-one. (a) To each person on the earth assign the number which corresponds to his age. (b) To each country in the world assign the latitude and longitude of its capital. (c) To each book written by only one author assign the author. (d) To each country in the world which has a prime minister assign its prime minister. 20. Let functions f,g,h from V ={1,2,3,4} into V be defined by :f(n)= 6−n, g(n)=3, h = {(1, 2), (2, 3), (3, 4), (4, 1)}. Decide which functions are: (a) one-to-one; (b) onto; (c) both; (d) neither. 21. Prove Theorem 3.1: A function f : A → B is invertible if and only if f is both one-to-one and onto. 22. Find the cardinal number of each set: (a) {x | x is a letter in “BASEBALL”}; (b) Power set of A = {a,b,c,d,e}; (c) {x |x2 = 9,2x = 8}. 2

write the summary

An appropriate fiscal policy for a severe recession is: Multiple Choice a decrease in tax rates. an increase in interest rates. a decrease in government spending. appreciation of the dollar.

Assessment 2 Case Study STUDENT ID STUDENT NAME SUBJECT NAME: Stakeholers Values and Ethics SUBJECT CODE: BAP61 Total Marks: 30 Weight: 30% Due Date: Week 9 Ethics in Business: A Case Study on Whistleblowing and Corporate Responsibility Word Length: 2,000 words (+/- 10%) Case Study: Imagine you are an employee at a prominent IT company, MyIT Corp. The company has been working on a groundbreaking technology that has the potential to save countless lives. However, during the technology development, you come across evidence indicating that certain safety tests were manipulated to accelerate the technology approval process. You believe that this unethical conduct poses serious risks to to the public. You face a moral dilemma: whether to blow the whistle on the company's actions, potentially jeopardizing your job and facing backlash, or to remain silent and allow the unethical practices to continue. Assessment Questions: 1) Ethical Dilemma Analysis: (6 marks) a. Explain the ethical challenge encountered by the employee in the scenario. b. Outline the opposing interests and values involved, and discuss how choosing to report the issue or stay silent could affect the different stakeholders you identify. 2) Whistleblowing and Corporate Responsibility: (6 marks) a. a. Assess the ethical obligation of the employee to report MyIT Corp.'s misconduct. b. b. Examine the possible advantages and disadvantages of whistleblowing for both the individual and society, taking into account the employee’s responsibility to support ethical conduct and corporate accountability. 3) Utilitarian vs. Deontological Ethics: (6 marks) a. a. Use both utilitarian and deontological ethics to examine how the employee made their decision. b. b. Explain how each ethical framework would interpret the choice to report the wrongdoing, focusing on the outcomes, moral principles, and obligations considered in each approach. 4) Corporate Culture and Ethical Climate: (6 marks) a. a. Examine the role that MyIT Corp.'s corporate culture and ethical environment may have played in enabling unethical behavior. b. b. Highlight the significance of promoting an ethical workplace culture and explore how organizations can build a supportive atmosphere where employees feel confident to speak up about misconduct. 5) Legal Protections and Moral Courage: (6 marks) a. Investigate the legal rights and protections provided to whistleblowers in this context. b. Explore the idea of moral courage and why it is important when facing tough ethical choices. c. Consider how moral courage could influence the employee’s decision to report the wrongdoing. Rubric Criteria Fail (0-49) Pass (50-64) Credit (65-74) Distinction (75-84) High Distinction (85-100) Identify and define a problem or issue. Critically analyse using relevant theory and research. Draw conclusions and justify. Weighting 50% Poor identification of the problem or issue. Little research or application of relevant theory. Unsound conclusions. Basic effort in identification of the problem or issue. Some research and application of relevant theory. Conclusions not strong. Good identification of the problem or issue. Good research and application of relevant theory. Sound conclusions. Very good identification of the problem or issue. Very good research and application of relevant theory. Sound recommendations. Excellent and Insightful identification, analysis and conclusions of the situation. Clear and concise communication (understanding) Weighting 20% Poor level of reflected understanding. Inaccurate expression making meaning unclear. Poor spelling and grammar. Basic effort in reflecting understanding. Inaccurate expressions make meaning sometimes unclear. Some spelling and grammatical errors. Some insightful reflection. Expression generally accurate. Correct spelling and grammar. Insightful reflection. Consistent expression makes meaning concise and clear. Correct spelling and grammar. Exceptionally insightful (reflected understanding). Fluent expressions make it very easy to read and comprehend. Correct spelling and grammar. Coherent and logically structured Weighting 20% No clear logic and flow to the answers provided. Incorrect paragraph structure. Some structure and flow to the report. Inconsistent application of paragraph structure. Good structure and flow to report. Reasonable paragraph structure. Well-structured and easy flow to report. Very good paragraph structure. Very well- structured reflecting excellent insights. Quality flow to report, with excellent paragraph structure. Professionally presented with correct referencing Weighting 10% Poorly presented. No appropriate of in text or reference list. Presentation adequate (some mistakes). Met requirements. Some errors in referencing.. Presentation clear (few mistakes). Met requirements. Correct in text and reference list. Professional (no mistakes). Correct in text and reference list. Very professional. Correct in text and reference list. Page | 2

How do you calculate predetermined overhead rate and give me an example

what kind of human-computer interaction does a certified public accountant need?

A company receives $10,000 in cash for services yet to be performed. Using the accrual method what’s the correctusing the accrual method what’s the correct entry to record the transaction?

Total Cost of Merchandise Purchases = Invoice Cost of Merchandise Purchases + Transportation Costs - Purchase Discounts - Purchase Returns and Allowances

Define the Following C++ concepts 1.function prototype 2.built in functuous 3 function overloading 4.pointer 5.class 5.constructure

"Goodwill is an example of a: Question 10Answer a. Current asset b. Long-term liability c. Current liability d. Intangible long-term asset"

"The predetermined overhead rate is usually calculated: Question 9Select one: a. at the end of each month b. at the beginning of each month c. at the beginning of the year d. at the end of the year"

"An annuity is a series of Blank______ deposits. Multiple choice question. small large unequal equal"

How many pounds (lbs) are in 58 kg? Group of answer choices 127.6 lbs 26.4 lbs 5.8 lbs 580 lbs Which atom would have an electron configuration of 1s2 2s2 2p6 3s2 3p6? Group of answer choices Cl Ne Ar N Determine how many electrons you would expect each of the following ions and ground state atoms to contain and match them up. Group of answer choices a. Fluoride [ Choose ] b. Fluorine [ Choose ] c. Zn(I) [ Choose ] d. Calcium ion [ Choose ]

"The acid-test ratio is computed by dividing: a. current assets by current liabilities b. quick assets by current liabilities c. long-term liabilities by current liabilities d. stockholder's equity by current liabilities"

"How do companies acquire goodwill? What are examples of intangible assets and how are they amortized?"

"The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Line Item Description Increase Decrease Normal Balance Balance sheet accounts: Asset Credit Liability Credit Stockholders' equity: Common Stock Credit Retained Earnings Credit Dividends Debit Credit Income statement accounts: Revenue Credit Expense Credit Debit"

Owner paid $250 in advertising costs to the local paper. how is this recorded in a journal?

Goods in transit are included in a purchaser's inventory: When the supplier is responsible for freight charges. At any time during transit. When the purchaser is responsible for paying freight charges. After the half-way point between the buyer and seller. If the goods are shipped FOB destination.

"How do I find the variable cost of goods sold on a variable costing income statement?"

Select the statement below that describes a post-closing trial balance. Multiple choice question. It is a listing of all temporary accounts and their balances after closing. It is a listing of all permanent accounts and their balances immediately after the adjusting process. It is a listing of all permanent accounts and their balances after closing. It is a financial statement that describes all revenue and expense accounts after closing

"Multiple Choice The carrying value of bonds at maturity always equals: the amount of cash originally received in exchange for the bonds. the par value of the bond. the amount of discount or premium. the amount of cash originally received in exchange for the bonds plus any unamortized discount or less any premium."

"A business uses a credit to record: Multiple Choice A decrease in an asset account. An increase in an expense account. A decrease in a revenue account. A decrease in a liability account. A decrease in an unearned revenue account."

"The predetermined overhead rate is usually calculated: Question 10Select one: a. at the end of each month b. at the beginning of each month c. at the beginning of the year d. at the end of the year"

"1. What is the MIS system that manipulates information to create business intelligence in support of strategic decision making? a. Visualization b. Digital dashboard c. Online analytical processing (OLAP) d. Online transaction processing (OLTP 2. On November 1, 2021, LA Service Company received $12,000 in advance of performaing the services from a customer for next three months of service; November and December 2021 and January 2022. On November 1 2021, LA Services Company recorded $12,000 as Unearned Revenue for this transaction. What would be the journal entry to adhust the accounts on December 31, 2021? 3. Which factor below is the least relevant in analyzing corruption issues in Russia? a. Social b. Legal c. Environmental d. Political 4. On May 1, 2021, CN Company had beginning inventory consisting of 150 units with a unit cost of &5. During May, the company purchased inventory as follows: a. 800 units at $6 per unit b. 650 units at $7 per unit 5. The company sold 1,500 units during the month for $12 per unit. If CN Company uses the Last-in, First-out (LIFO) method, the value of CN Company's inventory on May 31, 2021 is Group of answer choices a. $500 b. $1,050 c. $750 d. $700 6. Which of the following is an accurate description of the dividends account? a. Dividents account is reported in the balance sheet as a liablity account. b. An increase in dividents account decreases retained earnings. c. An increase in dividends account is reported in the income statement. d. Dividents account is reported in the balance sheet as an account."

According to the Lau & Johnson reading, corporations are subject to double taxation. True False

Working with a financial advisor is beneficial because... Select a response: A. They all have the same expertise. B. You won't have to know anything about your finances. C. They can help you plan for retirement. D. It's the only way to create a budget.

What does a times interest earned ratio of 10 times indicate? Multiple choice question. The firm can cover the fixed charges 10 times. Income before interest and taxes covers the interest obligation of the firm by 10 times. The firm can pay off the interest obligations every 10 days. The firms debt is 10 times larger than the assets.

"On July 1, a company receives an invoice for $800 with the terms 1/10, net 30. On July 15, the payment should be: A. $692 B. $790 C. $792 D. $800 E. $808"

A prior period adjustment for understatement of net income will show as a gain on the current year's Income Statement. be debited to the Retained Earnings account. show as an asset on the current year's Balance Sheet. be credited to the Retained Earnings account.

The firm of Harwood & Toole, CPAs, has been the auditor and tax return preparer for Tucker, Incorporated a nonpublic company, for several years. In the current year, the management of Tucker discharged Harwood & Toole from the audit and tax engagement because of a disagreement over a tax matter. Management of Tucker has not paid Harwood & Toole any of the current year's audit and tax fees. Another CPA firm has been hired and management of Tucker has requested that Harwood & Toole provide the following items: Indicate which of the following items must be provided to management of Tucker by Harwood & Toole. a. Accounting records of Tucker, Incorporated in the possession of Harwood & Toole. Yes No b. Copies of adjusting entries prepared by the staff of Harwood & Toole. No c. A copy of Tucker's partially completed tax return prepared by the staff of Harwood & Toole. Yes No d. Copies of Harwood & Toole's audit working papers from prior engagements. Yes No e. Several consolidating entries prepared by Tucker, Incorporated and reviewed by Harwood & Tool Yes No

Why do I have a deposit from TPG Products SBTPG LLC?

The journal entry to record manufacturing overhead applied to production includes: a debit to Finished Goods. a credit to Work in Process. a credit to Finished Goods. a debit to Work in Process.

"Working with a broker or brokerage firm is: A. Only available through an app. B. Limited and never includes asset allocation guidance. C. Recommended but optional for making investments. D. Needed to buy or sell assets in the market."

"Shariz needs to record receipt of a vendor invoice. Which QuickBooks function would be most useful? A. New invoice B. Process payment C. Add receipt"

Which is not an expense account? A. Repairs expense B. Rent expense C. Accrued expenses D. Advertising expense E. Interest expense

which account does not appear on the balance sheet? owner's equity accounts payable utility expense accounts receivable retained earnings

calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit – Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin. Suppose there are TWO locations for lunches: One in a higher-income area, and the other in a lower-income area. A: Fixed Expense = \$5,000. Revenue/unit=\$15. Cost/unit=\$5 B: Fixed Expense = \$6,000. Revenue/unit=\$13. Cost/unit=\$5 Compute breakeven quantity separately for A and B. [Post calculations and your answer] Combine $A$ and $B$ to compute combined breakeven. [Post calculations and your answer] Does it look like B is getting a subsidy from A? Is there a different word to use other than 'subsidy'?

A company bought a computer for $1,500. Three years later, the computer was sold for $300. Assuming a 5-year estimated service life and straight line depreciation, which account(s) would be used to record the disposal of the asset? Select all that apply. Sales income Fixed assets Gain/loss on sale of asset Accumulated depreciation Depreciation expense Report Problem Don't worry, this won't interrupt your assessment Timm Continue