Project 1 involves calculating taxes for a business. Direct tax is 167.50 birr and indirect tax is 15,000 birr. Direct taxes are taxes collected directly from taxpayers like income tax while indirect taxes are collected indirectly like VAT.
Project 2 involves creating a personal budget for Mohammed. His actual savings were 666 birr compared to an estimated 680 birr. The percentage of actual savings against estimated is 97.94%.
Project 3 involves opening a bank account and loan. The bank would need the customer's name, address, deposit amount and signatories. The interest on the 60,000 birr loan is 6,000 birr so the total due is 66,000 birr. Financial intermedi
Project 1 involves calculating taxes for a business. Direct tax is 167.50 birr and indirect tax is 15,000 birr. Direct taxes are taxes collected directly from taxpayers like income tax while indirect taxes are collected indirectly like VAT.
Project 2 involves creating a personal budget for Mohammed. His actual savings were 666 birr compared to an estimated 680 birr. The percentage of actual savings against estimated is 97.94%.
Project 3 involves opening a bank account and loan. The bank would need the customer's name, address, deposit amount and signatories. The interest on the 60,000 birr loan is 6,000 birr so the total due is 66,000 birr. Financial intermedi
Project 1 involves calculating taxes for a business. Direct tax is 167.50 birr and indirect tax is 15,000 birr. Direct taxes are taxes collected directly from taxpayers like income tax while indirect taxes are collected indirectly like VAT.
Project 2 involves creating a personal budget for Mohammed. His actual savings were 666 birr compared to an estimated 680 birr. The percentage of actual savings against estimated is 97.94%.
Project 3 involves opening a bank account and loan. The bank would need the customer's name, address, deposit amount and signatories. The interest on the 60,000 birr loan is 6,000 birr so the total due is 66,000 birr. Financial intermedi
Project 1 involves calculating taxes for a business. Direct tax is 167.50 birr and indirect tax is 15,000 birr. Direct taxes are taxes collected directly from taxpayers like income tax while indirect taxes are collected indirectly like VAT.
Project 2 involves creating a personal budget for Mohammed. His actual savings were 666 birr compared to an estimated 680 birr. The percentage of actual savings against estimated is 97.94%.
Project 3 involves opening a bank account and loan. The bank would need the customer's name, address, deposit amount and signatories. The interest on the 60,000 birr loan is 6,000 birr so the total due is 66,000 birr. Financial intermedi
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Project 1
Instruction: under this project you are expected to perform the following tasks beside on the information provided.
Assume XYZ is a merchandize business which was established to purchase and sales of various products to customer. This company is a VAT registered company and declare tax to the government. During the current month the business has purchased and sold various product for birr 86,250 and birr 115,000 respectively; and the business has three permanent employees to provides service customers, the employees’ basic salary, overtime are depicted below
No Name of employee Monthly basic salary Over time earning
1 Ato Tola Ayansa Birr 1500 Birr 300
2 Ato Tesfaye Kuma Birr 800 Birr 200
Using the above information candidate is required to perform the following tasks
Task 1.1 calculate the amount of direct tax for this month
Task 1.2 determine the amount of indirect tax liability tax liability for this month.
Task 1.3 explain and list direct taxes and direct taxes.
Project 2: developing and implementing of personal budget.
Instruction: under this project you are expected to perform the following tasks based on the information provided
On March 31, 2015 Mohammed takes home birr 2000.000 a month from working at the super market in a town as a salary. Her expenses for the month include. Clothing- birr 740.00, gas for her car- birr 50.00, food birr 400 and recreation birr 150 and the difference between monthly income (salary) and expenditure will be his saving
Date income food car recreation saving total
Task 2.1 based on the above information calculation the saving plan for Ato Mohammed
The following data is saving budgeted and actual income and expenditure of Ato Mohammed for the month of March 31, 2015. The percentage of actual income and expenditure will be based on the estimated income and expenditure
Description Actual income and Estimated income and
expenditures march 31,2015 expenditures march 31, 2015
Income 90% Birr 31,2015
Clothing 100% Birr 2100
Food 85% Birr 700
Car 50% Birr 400
Recreation 70% Birr 200
Saving Birr 120
Total Using the above information the candidate is expected to perform the following tasks.
Task 2.2: computes the amount of actual income and expenditure on March 31, 2015 Task 2.3: find the actual and estimated saving amount in birr Task 2.4: calculate the percentage of actual saving against estimated
Project3:- maintain customers account and process transactions total time for the project: 1:00 hr
Instruction: under this project you are expected to perform the following tasks based on the information provided
Eden PLC is a newly established merchandizing business and to start a business it required a total of birr 100,000 the source of financing are cash on hand birr 40,000 and expecting to borrow the maintaining amount of birr 60,000 from Dashen bank at annual interest rate of 10% assume that you are a bank clerk and require answering the following tasks
Instruction: based on the above scenario the candidate is expected to perform the following tasks
Tasks 3.1: provide information to customers
Instruction:- If EDEN PLC need to open a new customer account, what information are expected from you to provide to the customer
Task 3.2 calculate the amount of interest and cash
Instruction: - calculate the amount of interest and cash to be collected from EDEN PLC from the borrowed amount?
Tasks 3.3 list the financial intermediaries in Ethiopian marketing system
NO Name of employee Basic Over Taxable income tax
salary time earnings
1 Ato Tola Ayansa Birr 1500 Birr 300 127.50
2 Ato Tesfaye Kuma Birr 800 Birr 200 40.00
Total direct tax 167.50
POSSIBLE ANWER
PROJECT 1
Task 1.2 determine the amount of indirect tax liability for this month
Output VAT= 115000-(115000/1.15=BIRR 15,000.00
INPUT vat= 86250.00
Task 1.3 explain direct tax and indirect taxes
Direct taxes- a tax collected directly from the tax payers
EXAMPLE - personal income
-business profit tax
-Tax on rental building
-Tax on interest income
- Tax on reality, game of chance.
Indirect taxes - a tax collected indirectly from the consumer indirect tax- turn over tax
EXAMPLE - VAT
- Custom duty
- excise tax
Project2
Task 2.1
Based on the above information calculate the saving for Ato Mohammed
Date income food clothing car Recreation saving
March 3 2,000 400 740 50 150 660
`1,2015
Task 2.2 and 2.3 compute the amount of actual income and expenditure on March 32, 2015
Actual income and expenditures Estimated income and
March 31,2015 expenditures March 31,2015
Income 0.9*2100=1890 Birr 2100
Clothing 1*700=700 Birr 700
Food 0.85*400=340 Birr 400
Car 0.5200=100 Birr 200
Recreation 0.7*120=84 Birr 120
Saving 666.00 680.00
The amount of actual saving= 666
The amount of estimated saving=680
Task 2.4 calculate the percentage of actual against estimated saving % of actual saving=666/680=97.94
Project 3
Task 3.1
Greeting Primary account holders: name address, contact detail Amount of initial deposit Signatory to the account Account to be used,
Task 3.2
Interest=69,000.1=birr 6,000.00 Cash to be collected= birr 6,000+60,000.00= birr 66,000.00
Task 3.3 financial intermediaries are:,
Bank Creditors Government Micro enterprise Cooperatives, suppliers etc
