ACCT 422 Tax Accounting

Q1. Depreciation rates used in financial accounting shall not be used in tax accounting whereas tax law gives tax credits to tax payers by using accelerated depreciation rates for some groups of assets (1.5 Marks).

.

Required: State depreciation rates under the Article 17 of the Saudi Income.

Q2. The paragraph (e) in the article 17 of the Saudi income tax explained how depreciation expense is calculated for any group of assets. (2.0 Marks).

Required:

1. Discuss In Detail This Article

2. Give a numerical example explaining the applicability of the paragraph (e) in the article 17 of the Saudi income tax.

Answer:

(Answer in your own words DO NOT copy from the Law).

Q3. Resident Bank fully owned by Sweden investors has the following selected items drawn from its accounting books (Amounts in Saudi Riyal) (1.5 Marks).

DETAILED ASSIGNMENT

20201001001103acct422_2020_a1

(1) Numerical Problem 5, Chapter 3, page 101 for 8th edition, pages 104 for 9th edition, page 108 for
the 10th edition.
Consider an economy in which the marginal product of labor MP N is MP N = 309−2N, where N
is the amount of labor used. The amount of labor supplied, NS, is given by NS = 22 + 12w + 2T,
where w is the real wage and T is a lump-sum tax levied on individuals.
a. Use the concepts of income effect and substitution effect to explain why an increase in lump-sum
taxes will increase the amount of labor supplied.
b. Suppose that T = 35. What are the equilibrium values of employment and the real wage?
c. With T remaining equal to 35, the government passes minimum-wage legislation that requires
firms to pay a real wage greater than or equal to 7. What are the resulting values of employment
and the real wage?
Note: In the 8th, 10th editions, the MP N is MP N = 309 − 2N while in the 9th edition, the
MP N is MP N = 3095 − 2N. I will treat either expression as correct when I mark your homework.
However, I believe that the expression in the 8th edition makes more sense given the rest of the
problem.
(2) Numerical Problem 7, Chapter 4, pages 148-149 for 8th edition, pages 152 for 9th edition, page 156
for the 10th edition.
Suppose that the economywide expected future marginal product of capital is MPKf = 20−0.02K,
where K is the future capital stock. The depreciation rate of capital, d, is 20% per period. The
current capital stock is 900 units of capital. The price of a unit of capital is 1 unit of output.
Firms pay taxes equal to 15% of their output. The consumption function in the economy is C =
100+ 0.5Y −200r, where C is consumption, Y is output, and r is the real interest rate. Government
purchases equal 200, and full-employment output is 1000.

a. Suppose that the real interest rate is 10% per period. What are the values of the tax-adjusted
user cost of capital, the desired future capital stock, and the desired level of investment?
b. Now consider the real interest rate determined by goods market equilibrium. This part of the
problem will guide you to this interest rate.
i. Write the tax-adjusted user cost of capital as a function of the real interest rate r. Also
write the desired future capital stock and desired investment as functions of r.
ii. Use the investment function derived in Part (i) along with the consumption function and
government purchases, to calculate the real interest rate that clears the goods market.
What are the goods market-clearing values of consumption, saving, and investment? What
are the tax-adjusted user cost of capital and the desired capital stock in this equilibrium?

(1) Write down the consumers’ intertemporal budget constraint and indicate which terms stand for the
present value of lifetime income and lifetime consumption. State the full consumers’ maximization
problem. [Do not solve yet]
(2) Substitute the budget constraint in the utility function to turn the consumers’ problem into an
unconstrained maximization problem.
(3) Derive the first-order condition that characterizes the optimal consumption choice. Show that the
condition you obtain is the standard consumer Euler equation:
u
0
(c) = β(1 + r)u
0
(c
f
)
and substitute u
0
(·) with its actual value in this exercise.
(4) Incomes today and tomorrow are such that y = y
f = 50, 000. Using the Euler equation and the
intertemporal budget constraint, solve for consumption today, c, and tomorrow, c
f
(5) Assume now that today’s income increases by 10%. Compute the new optimal consumption choices
for today and tomorrow

DETAILED ASSIGNMENT20201001002830homework2

Project Report and Presentation Slide Deck shall include:

1. Title of the machine, or device, or components, or special facility of your project

2. Description of your project purpose, benefits to users, risk of your product, and impact assessment

3. Project checklist

4. Documentation: patent filing, 510k filing, other legal filing, etc.

5. Presentation report and slide deck

Additional Information for “Project Preparation Report”:

1- Phase One: “Project Scope of Work” preparation report in power presentation format

A- Identifier and Discovery (one slide or more)

1- Your identifier (findings): what is un-met need; what is your new need that is not available today

2- Provide study statement and evidences to justify your opinion / idea

B- Invent and Design Concept (two slides or more)

1- Brain Storm and Technical Evaluation: explore your idea, concept and opportunities for improvement, new development

2- Technical Assistance: using graphics, pictures, models, video and engineering design concept to demonstrate your Invent / Design Concept

C- Regulatory study: GMP requirements, product application, product’s efficacy safety and quality evaluation

2- Phase Two “Invent and Implementation”

SAMPLE ASSIGNMENT

Sample-2

CEE 721/821 Environmental Sampling and Analysis

1. (10 pts) A lagoon waste pit has the following historical data for the barium concentration based on a simple random sampling (n=4): 86, 90, 98, 104 mg/kg (the lower two thirds of lagoon). The regulatory threshold for barium is 100 mg/kg. The waste on this site was categorized to be hazardous, and therefore a more thorough sampling plan is needed. Determine the number of samples required so that the reported mean has a 90% confidence level.

2. (10 pts) Describe the special considerations and tools that can be used in taking water samples from: (a) flowing waters (rivers and streams), (b) static waters (lakes and ponds), and (c) estuaries.

3. (8 pts) Studies were conducted to test lead (Pb) concentrations in surface soils due to atmospheric deposition of emissions from a smelter. A total of 30 samples were collected, and the number of samples in each stratum was proportionally allocated based on the estimated percentage land area under the specified wind direction. The stratum weights and the resulting statistics of analytical results are shown below. Estimate the overall mean and standard deviation using the following equations.

4. A former small pesticide manufacturing facility was surveyed for pesticide residues in surrounding soils. Historical data have shown that the pesticide is very stable in soil, concentration is in the range of 40-200 ppb with a standard deviation of 5 ppb.

   1. (6 pts) If an error level of ±2 ppb is acceptable, how many samples are needed to be 95% confident that the requirement is met?

   2. (6 pts) If an area of 1 km² is to be surveyed, design the locations using the method of simple random sampling. Use Excel to generate random numbers and use the coordinate as shown below (i.e., (x=0, y=0) for the manufacturing facility; the range of x-axis for the whole site is from -500 to 500; same for the y-axis). Attach the random number from your Excel output and plot a x-y scatter plot showing the locations of all samples calculated from (a).

DETAILED ASSIGNMENT

20201001032727sampling_and_analysis_homework

Secure Shell (SSH) is a cryptographic network protocol for operating network services securely over an unsecured network.^[1] Typical applications include remote command-line, login, and remote command execution, but any network service can be secured with SSH.

SSH provides a secure channel over an unsecured network by using a client–server architecture, connecting an SSH client application with an SSH server.^[2]

SAMPLE ASSIGNMENT

Sample-2

#1: WHAT IS THE GOVERNMENT’S ROLE IN ADDRESSING FOOD INSECURITY? (500 words)

Based on government nutrition-related interventions( •USDA – responsible for administering 15 food assistance and distribution programs / •Supplemental Nutrition Assistance program (SNAP; formerly Food Stamp Program) – entitlement program / •Commodity Supplemental Food Program (CSFP) – direct food distribution program or any other U.S. program),

Do you think the government programs do enough to meet the current needs of society? Why or why not? What programs would you modify and which would you suggest to those who are food insecure?

http://www.pbs.org/wgbh/frontline/film/climate-of-…

• Watch from start to around 7:20 – background

• Watch from 15:20 to 21:50 – manipulation of data “going down the up escalator” and the Oregon Petition

• Watch from around 36:55 to about 44:45 – NC climate change legislation on sea level rise and discussion of use of tactics used by the tobacco industry in claiming second-hand smoke is not harmful; oil industry ties

1. Give some examples from the video that illustrate how the media may help promote or help refute pseudoscience.

2. How do the skeptics “diminish the credibility of the scientific consensus” and “spread the message of doubt?” Include analysis of “going down the up escalator” and the Oregon Petition as pseudoscience.

3. What do you think are the motivations behind climate denial, based on the video? Who are the key players seen in the video and what are their credentials? Discuss the failed North Carolina legislation to “legislate climate change out of existence.” How did the skeptics win, even though the legislation was not passed (what is the next step)?

4. From the examples given in the video, what do you think are the motivations behind climate denial? What industries are cited as being heavily involved, and who are some of the key players with ties to industries?

5. More recently, what is the Web of Denial and why are US Senators taking action by supporting the Senate Web of Denial Resolution?

Then, after reading the powerpoints slides that i will provide, and watching the four additional videos (Week 6 Videos and Resources),please share your thoughts on each (5) points . What stood out to you? What did you already know before? What do you want to find out more about? write from 300-600 word

3.33) How to Write a Lab Report (READ)

https://gcccd.instructure.com/courses/32305/pages/…

3.34) Diffusion and Osmosis Lab Report Guidelines (READ)

https://gcccd.instructure.com/courses/32305/pages/…

3.31) Lab Session: Diffusion and Osmosis – live via ZOOM

https://gcccd.instructure.com/courses/32305/pages/…

SAMPLE ASSIGNMENT

Sample-2

i. Compute the company’s tax liability for the year of the assessment 2018. Every item in the notes to the account must be shown in your computation. Write ‘NIL’ where no adjustment is required.

ii.Explain with reason/s your treatment of every item in the notes.

SAMPLE ASSIGNMENT

Sample-2

1. Learning unions of intervals. Give a PAC-learning algorithm for the
concept class C3 formed by unions of three closed intervals, that is
[a, b] ∪ [c, d] ∪ [e, f], with a, b, c, d, e, f ∈ R. You should carefully describe and justify your algorithm. Extend your result to derive a PAClearning algorithm for the concept class Cp formed by unions of p ≥ 1
closed intervals, thus [a1, b1] ∪ · · · ∪ [ap, bp], with ak, bk ∈ R for k ∈ [p].
What are the time and sample complexities of your algorithm as a
function of p?

DETAILED ASSIGNMENT

202010010533311601271350_hw1