Analysis for Lone Pine Café The Lone Pine Café case involves a partnership of three people who initially invested $16‚000 cash each in the venture. The first transaction resulted in a one year lease being signed for $1‚500 per month or $18‚000 per annum. The owners occupied quarters above the Café. No rental amount was assigned to this apace. The owners then borrowed $21‚000 from a local bank and then utilized $35‚000 of the initial capital invested in the firm to purchase $53‚200 of
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included in the assessable income of Nick. b) As per the principles of Ordinary Income compensation for loss of income is also an income therefore‚ it will form part of assessable income. Nick must include $50000 as his assessable income for the year. c) The amount has been received by Nick towards operation and rehabilitation expenses and therefore‚ they are not included under income from ordinary concepts. The receipt of $8000 will not be included in the assessable income of Nick.
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Assessable income=ordinary income + statutory income. Ordinary income: income deriving from the courts (s6-5) Negative propositions: items that are not income by ordinary concepts: 1.Amounts not convertible into money :In Tennant v Smith (1892) free accommodation provided to a bank manager was held not to be ordinary income because building could not be sub-let and the benefit thereby converted to money. In FCT v Cooke & Sherden (1980) an incentive prize offered by a manufacturer was not income of the
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“Introduction to Materials Management”‚ Pearson Education‚ 6th Edition‚ 2007. Reference Books 1. Sunil Chopra & Peter Meindl‚ “Supply Chain Management: Strategy‚ Planning and Operation”‚ Pearson Education‚ Third Edition 2007. 2. Robert S. Russell‚ Bernard W.Taylor-II‚ “Operations Management along the Supply Chain”‚ Wiley Publications‚ 6Th Ed ET ZC342 (Course Handout) Second Semester 2011-2012 Page 2 Plan of Self Study
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“typical” firm reports $20 million of retained earnings on its balance sheet‚ could its directors declare a $20 million cash dividend without having any qualms about what they were doing? Explain your answer. Its directors could declare a $20 million cash dividend without having any qualms about what they were doing‚ because retained earnings may not held as cash. Retained earnings represent the cumulative total of all earnings kept by the company during its life. Therefore‚ $20 million would be an investment
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Established in January 1999‚ Pine Street Capital (PSC) was a market-neutral hedge fund that specialized in the technology field‚ facing market risk and trying to decide whether and which way to use in order to hedge equity market risk. They choose technology sector because the partners of PSC felt that they have enough ability to evaluate this sector and specially be good at picking out-performing stock. Short-selling of NASDAQ and options hedging strategy are the two major hedging choices for PSC
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Risk Information Sheet for Stevens Company conversion from the SQL Server database to the Oracle® Database. Category Description Probability Risk Rating Mitigation/Monitoring Management/Contingency Plan/ Initial Data Conversion for Stevens Company Data conversion of the newly implemented system from the SQL Server/With the possibility of Data quality deterioration High 80% Stevens Company must ensure that their project management team has a detail and thorough plan with contingencies. Also a creation
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[pic] Company Analysis and Financial Statement Paloma Díaz-Regañón Carolina Martínez Mediero Marta Salafranca Ahoussou Jean-Christian 07.12.10 I. Introduction & History of the Company Johnson & Johnson is a global American company that operates as a pharmaceutical‚ medical devices and consumer packaged goods manufacturer that serves with its products to over 175 countries worldwide. It was founded in 1886 by Robert Wood Johnson I‚ James Wood Johnson and Edward Mead Johnson
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The Effect Of Off Balance Sheet Financing In Failure Of Lehman Brothers Off Balance Sheet Financing: Off balance sheet financing is an accounting method whereby companies record certain assets or liabilities in a way that keeps from appearing on the balance sheet. Example: Supposed that company A has an operating lease on land on which company A has to pay £25‚000 per annum for the next 50 years. But due to nature of lease and IAS17‚ which allow Company to record yearly rental expense‚ but IFRS
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: Diep Mounin Contact Number : (+855)12 380 812 E-mail : Mounindiep@gmail.com INSTRUCTION 1. This is a Group Assignment consisting of THREE (3) members. 2. This Assignment will contribute twenty percent (30%) to the total marks of this module. 3. Use Harvard referencing system to quote the sources of your research. 4. This Assignment consists of one (1) project paper. Some research has to be done to accomplish the assignment. ASSIGNMENT 1. Read the
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