Friday, December 13, 2019

Audit Free Essays

Explain the impact of key court cases on the public accounting profession. 4. Describe auditor liability, discuss auditor responsibilities, identify possible auditor defences, and discuss possible remedies and sanctions available under both common law and statutory law. We will write a custom essay sample on Audit or any similar topic only for you Order Now 5. Identify professional requirements that help assure audit quality and minimise auditor exposure to liability suits. 6. Describe defensive actions that audit firms can take to limit the effects of litigation on audit firms and individual auditors. 7. Apply the decision analysis and ethical decision-making frameworks to issues that could result in litigation. Teaching Suggestions Even though most audits are properly performed, a significant ppercentage of the gross revenue of public accounting firms is spent on professional liability insurance and litigation costs. Litigation costs and settlements caused Andersen, once the world’s largest public accounting firm, to declare bankruptcy. In today’s litigious environment, it is extremely important that auditors use due professional care to minimise such costs. Even when due professional care is exercised, the government, iinvestors, and clients may still sue auditors. This chapter discusses the legal environment and concepts related to audits, and approaches to minimising exposure to liability. It also looks at several key court cases and their impact on the profession. The challenge when teaching this material is to impart to sstudents a genuine understanding of the legal environment in which auditors operate without overwhelming them with material to memorise that they are unlikely to remember. This challenge is heightened by the need to stress the importance of ‘liability avoidance’ without leaving the impression that it is the major focus of the audit process. Begin by reviewing pertinent legal terminology. Then discuss the litigious climate for auditors and how that climate has changed over the past few decades. Reasons for the increase in litigation, often settled out of court include greed on the part of unscrupulous financial report users and preparers, ignorance and neglect on the part of auditors, and a volatile business climate characterised by numerous business failures. Public distrust adds to the problem. Stress the impact of litigation on the profession: (1) considerable resources expended to litigate, (2) some distrust and loss of credibility in the public accounting profession which is heightened by negative media coverage, (3) proliferation of new auditing standards, and (4) pressure from stock exchanges which has resulted in the establishment of audit committees and ‘comfort letters’ to underwriters. It is helpful to go over the concept of due care found in tort law. Ask sstudents how they view their liability if, as new employees, they are asked to complete a task that they do not feel qualified to do. Explain the imprecision of the ‘reasonable man’ concept and the problems that arise when ‘ordinary citizens’ sit on juries involving technical matters with which they are unfamiliar. The text outline can be followed when discussing the specific legal concepts that affect the auditing profession including the auditors’ liability to clients and third parties. How to cite Audit, Papers

Thursday, December 5, 2019

Australian Taxation Law Assignment †Solution is just a Click Away

Questions: 1. Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with ABC: salary of $300,000; payment of Alan's mobile phone bill ($220 per month, including GST). Alan is under a two-year contract whereby he is required to pay a fixed sum each month for unlimited usage of his phone. Alan uses the phone for work-related purposes only; Payment of Alan's children's school fees ($20,000 per year). The school fees are GST free. ABC also provided Alan with the latest mobile phone handset, which cost $2,000 (including GST). At the end of the year ABC hosted a dinner at a local Thai restaurant for all 20 employees and their partners. The total cost of the dinner was $6,600 including GST. (a) Advise ABC of its FBT consequences arising out of the above information, including calculation of any FBT liability, for the year ending 31 March 2015. Assume that ABC would be entitled to input tax credits in relation to any GST-inclusive acquisitions. (b) How would your answer to (a) differ if ABC only had 5 employees? (c) How would your answer to (a) differ if clients of ABC also attended the end-of-year dinner? 2. Rubber Co manufactures tennis balls. On 1 January 2010, Rubber Co purchased a new machine for $1.1m (inclusive of GST) which it used to produce the tin cans in which its tennis balls were placed for sale to retailers. At the time of acquiring the machine , Rubber Co estimated that the machine would have an effective life of 10 years before it needed to be replaced. Subsequently, on 1 January 2014, as a result of new technology, a better quality machine became available and Rubber Co decided to sell the original machine for $330,000 (inclusive of GST) and purchase a new machine for $2.2m (inclusive of GST). Requirement: What are the tax consequences of these arrangements under Div 40ITAA97? Answers: (1). Issues In the given case, Alan is employed by ABC Pvt, Ltd. He is offered a salary package of $3000, 000. Further benefits that would be provided to Alan by ABC Ltd. include payment of mobile phone bill, childrens school fees and a mobile handset. There is also an offer of year end dinner at a restaurant by the employer for all employees. In the given scenario the consequences of the Fringe Benefits provided by the employer is discussed. Along with the calculation of tax liability at the end of 31st March, 2015 is also provided. Law Fringe Benefit tax was founded in 1986. It is a tax paid by the employer on certain benefits provided to the employee or employees family (Martin 2015). As per the act the definition of benefits includes services, rights, privilege or facility provided by the employer (Woellner et al. 2012). The definition of fringe benefit does not include salary, allowances, superannuations etc. The fringe benefits that are taxable under the act includes car fringe benefit, loan fringe benefit, housing fringe benefit, Airline transport fringe benefit, entertainment fringe benefits, meal entertainment fringe benefit, residual fringe benefit, Debt waiver fringe benefit, expense payment fringe benefit, living away from home fringe benefit, board fringe benefit, car parking fringe benefit and property fringe benefit (Shields and North-Samardzic 2015). The rate of fringe benefit tax is 45% and 1.5% of Medicare levy which comes to 46.5%. The year that is followed for calculating the taxable fringe benefit is 1st April to 31st March of next year (Edmonds 2015). It is to be noted that items provided by the employer which are related to work for example mobile, laptop, computer, calculator etc are exempted from tax. The other exempted fringe benefit includes periodicals newspaper, workers compensation insurance, subscription membership fees etc (Pearce and Hodgson 2015). Application As per the above discussion expenses of employee paid by employer is a taxable fringe benefit. In the given case Alans Mobile phone bill of $220.00 per month payable by the employer is a taxable fringe benefit. The school fees of children $20000.00 per year is also a taxable fringe benefit. But the mobile handset given by the employer is exempted from fringe benefit tax (Stanley McCue 2014). As the year end dinner is only provided to employees and their partners then it amounts to special benefit given by the employer to employees so is taxable under Fringe Benefit Tax (Vomerbumer 2013). For the purpose of calculation there are two type of fringe benefit- Type 1fringe benefit and Type 2 Fringe Benefit. If the employer is entitled to input tax credit of GST on the fringe benefits provided to its employees then it is a Type1benefit. The Type 2 benefit does not include claim for GST tax credit. For the purpose of calculating gross up value in case of Type 1 Fringe benefit it is multiplied with 2.0647 and in case of calculating Gross up value for Type2 benefits the fringe benefit is multiplied with 1.8692 (Tran-Nam 2015). Calculations: (a) Calculation Of Type 1 Fringe Benefit Particulars Amount Mobile Phone Bill $ 2,640.00 Year End dinner cost $ 330.00 Type 1 Aggregate $ 2,970.00 Calculation Of Type 2 Fringe Benefit Particulars Amount Children School Fees $ 20,000.00 Type 2 Aggregate $ 20,000.00 Calculation of Fringe Benefit Tax Particulars Amount Grossing Rate Gross Value Type 1 Fringe Benefit $ 2,970.00 $ 2.06 $ 6,130.08 Type 2 Fringe Benefit $ 20,000.00 $ 1.87 $ 37,384.00 Fringe Benefit Taxable Amount $ 43,514.08 Amount Of Tax Payable( 46.5% rate) $ 20,234.05 (b) If there are only 5 employees instead of 20 then cost of dinner per head will increase and tax payable will also change to 21,184.21. Calculation Of Type 1 Fringe Benefit Particulars Amount Mobile Phone Bill $ 2,640.00 Year End dinner cost $ 1,320.00 Type 1 Aggregate $ 3,960.00 Calculation Of Type 2 Fringe Benefit Particulars Amount Childrens School Fees $ 20,000.00 Type 2 Aggregate $ 20,000.00 Calculation of Fringe Benefit Tax Particulars Amount Grossing Rate Gross Value Type 1 Fringe Benefit $ 3,960.00 $ 2.06 $ 8,173.44 Type 2 Fringe Benefit $ 20,000.00 $ 1.87 $ 37,384.00 Fringe Benefit Taxable Amount $ 45,557.44 Amount Of Tax Payable( 46.5% rate) $ 21,184.2 (C) In the given question, if the yearend party is also attended by the clients then it is not a benefit given only to employees. In such case it will not be considered as fringe benefit. Then tax payable will be Calculation Of Type 1 Fringe Benefit Particulars Amount Mobile Phone Bill $ 2,640.00 Type 1 Aggregate $ 2,640.00 Calculation Of Type 2 Fringe Benefit Particulars Amount Childrens School Fees $ 20,000.00 Type 2 Aggregate $ 20,000.00 Calculation of Fringe Benefit Tax Particulars Amount Grossing Rate Gross Value Type 1 Fringe Benefit $ 2,640.00 $ 2.06 $ 5,448.96 Type 2 Fringe Benefit $ 20,000.00 $ 1.87 $ 37,384.00 Fringe Benefit Taxable Amount $ 42,832.96 Amount Of Tax Payable( 46.5% rate) $ 19,917.33 Summary From the above it can be concluded that Fringe Benefit tax is paid by the employer. The taxable amount depends on the nature of the benefit and whether the employer is eligible for GST credit. The ABC ltd. is advised that if Alan is employed with the present remuneration package then the company will be liable to pay $20234.05 as Fringe benefit taxes. If there is only 5 employees instead of 20 employees then Fringe Benefit Tax increases to $21184.21. But if the company arranges the year end party for all including clients then that expense will not be considered as Fringe benefit. So the Fringe Benefit tax will then be 19917.33. It is advised to reduce the Fringe Benefit Tax the third option is the best. (2). Issues What are the tax consequences when a Rubber manufacturing Co purchase a new machinery (depreciable asset) having a life of 10 years but disposed it after using 4 years for business purpose i.e. manufacturing of rubber. The machinery was disposed because a new machine with better quality was available in the market as a result of new technology and new machinery was purchased in its place. Legal As per Australian tax Office (ATO) depreciation is available on asset purchase and used for the purpose of business like plant and machinery used for the manufacturing or production process. Depreciation means decline in the value of asset over the period of time the asset is being used for business purpose. Depreciation is calculated over the estimated life of the asset. As per Division 40 there are two methods for calculating depreciation as per ATO which are: Prime Cost- Under this method depreciation is calculated over the life of the asset at a fixed percentage (Rate of Depreciation) calculated as follows (Depreciation each year/ Cost of the Asset)*100 Where, Depreciation each year=Cost of the Asset/Estimated life of Asset In this method depreciation each year is same. If the life of the asset cant be estimated by the Company purchasing the asset then it can take the estimated life of given by ATO The formula given by ATO for calculating Depreciation of a particular year is as follows- Asset Cost*(No. of days asset was held during the Year/No. of days in the year)* Rate of depreciation Diminishing Value method-Under this method depreciation is calculated on the written down value or adjustable value of the asset at the beginning of each year. Adjustable value is calculated by deducting decline in the value of the asset from the cost of the asset in the 1st year and from the Opening adjustable value from the 2nd year (Woellner et. al. 2012). Opening adjustable value means the closing adjustable value of the previous year. In this method Depreciation each reduces from the previous year (Palmer 2013) The formula given by ATO for calculating Depreciation under Diminishing Value method is as follows- Year 1: Cost of the asset* (No. of days asset was held during the Year/No. of days in the year)*(200%/5) From Year 2, Cost of the asset will be replaced by opening adjustable value of respective year. This process will continue until the cost of the asset becomes Zero. As per ATO, Goods and Sales Tax (GST) is to be excluded from the cost of the asset while calculating Depreciation. But other expenditure which are incidental to the acquisition of the asset are to be included in the cost of the asset like installation expenses, transportation expenses etc. As per ATO, credit of GST is available for the amount of GST paid on purchase of asset. GST credit is available for the proportionate part of asset used for the purpose of business (Sadiq et al. 2016). After the asset is partly being used for the purpose of the business and disposed of then decreasing adjustment has to be made for the Proportionate credit of GST not availed for the part used for private purpose. But if no part of the asset is used for private purpose then no decreasing adjustment is required to be made. When a asset is disposed of the difference between termination value and adjustable value is to be accounted for in the book of accounts(Ramli et al. 2015). If the termination value is more than the adjustable value then the difference is to be added to the assessable income and if the termination value is less than the adjustable value then the difference is to be deducted from the assessable income. Termination value is the sales price of the asset while adjustable value is the cost of the asset minus depreciation allowed upto the date of sale or termination(Ey.com, 2016). Application Applying the above provision given above the tax implication in the hands of Rubber Co are as follows :- Computation of Depreciation Each Year And Adjustable Value Depreciation Each Year 100000 Rate of Depreciation 10% Year ended(as on 30th June) Opening Adjustable value($) Decline In Value($) Closing Adjustable Value($) Remarks 2010 1000000 49589 950411 GST is being excluded from opening adjustable value(as per ATO) 2011 950411 100000 850411 2012 850411 100273 750138 2013 750138 100000 650138 2014 650138 50684 599454 $ Remarks Termination value 300000 (Exclusive Of GST) Less: Adjustable value 599454 Deductible Balancing adjustable amount -299454 To be deducted from assessable income So depreciation is available to the rubber co in the year of purchase(1st January 2010) of asset from the date asset is put to use and in the year of sale up to the date of sale of asset(1st January 2014). Depreciation for the year 2012 is more than 100000(i.e. $100273) because it was a leap year (Barkoczy 2013). GST are being excluded from the cost of asset as it is assumed that the rubber co has availed credit for the payment of GST on purchase of machinery (Athvankar 2015). Since 100% of the asset is being used for the purpose of the business so decreasing adjustment is not required at the time of disposal of asset. It is being assumed that the rubber co has adopted the prime cost method of calculating depreciation. The difference between the termination value and adjustable value which is $299454 is to be deductible from the assessable income as termination value is less than the adjustable value. Rubber co has to pay GST of $30000 on the purchase of new asset and can avail credit of it Conclusion So from the above discussion, the tax implication on the rubber co as per Div 40ITAA97 on purchase and disposal of asset is clearly understandable (Santucci 2014). The rubber co will be allowed deduction for each year the asset is being held by it. And on sale the difference between the termination value and adjustable value is deductible from the assessable income as termination value is less than the adjustable value. Rubber Co will also get the credit of GST paid on purchase of asset. No decreasing adjustment is required as no part of the asset is used for private purpose. Reference Athvankar, S.P., 2015. Goods and Service Tax a path breaking reform in indirect taxes special reference to financial services supply. Barkoczy, S., 2013.Foundations of taxation law. CCH Australia Ltd. Martin, F., 2015. Overseas travel by employees: When does FBT apply?. Palmer, T., 2013. UQ Library Guides: Taxation Law: Get started. Pearce, P. and Hodgson, H., 2015. Promoting smart travel through tax policy.Tax Specialist,19(1), p.2. Ramli, R., Palil, M.R., Hassan, N.S.A. and Mustapha, A.F., 2015. Compliance costs of goods and services tax (GST) among small and medium enterprises.Jurnal Pengurusan,45, pp.1-15. Sadiq, K., Coleman, C., Hanegbi, R., Jogarajan, S., Krever, R., Obst, W., Teoh, J. and Ting, A., 2016. Principles of Taxation Law. Santucci, G., 2014. Understanding taxation law and Australian tax law [Book Review].Ethos: Official Publication of the Law Society of the Australian Capital Territory, (233), p.42. Shields, J. and North-Samardzic, A., 2015. 10 Employee benefits.Managing Employee Performance Reward: Concepts, Practices, Strategies, p.218.

Thursday, November 28, 2019

An Inspector Calls by J.B. Priestley

An Inspector Calls by J.B. Priestley I am going to compare and contrast the reactions of Arthur Birling and Sheila Birling to the interrogation in which they received by the Inspector. Both of which reacted in completely different ways.I feel that the inspector makes a bigger impression on the younger characters then he does on the older characters this is shown by looking at the two characters, Mr.Arthur Birling and Sheila Birling. Arthur Birling is the father of the Birling family. 'He is a heavy- looking, rather portentous man in his middle fifties with fairly easy manners but rather provincial in his speech'. Sheila, the only daughter of Mr and Mrs Birling, 'is a pretty girl in her early twenties, who is very pleased with life' and rather excited about her early engagement to Gerald Croft, who is the son of Lady and Lord Croft, a very wealthy businessman.At the time of the inspectors entrance Mr Birling is in the room with Gerald and Eric, it is only when the inspector has finished interviewing Mr Birling that Sheli a enters.English: Car park at Birling Gap

Monday, November 25, 2019

Free Essays on Class Vs. Race

Class vs. Race – The True Determinate We live in a society built of classes. These classes are necessary in a capitalistic society because no matter how rich a nation we become we will always need a lower class to clean the offices we work in and pick the strawberries we eat. Minority groups have found themselves stuck in this class of working poor and because people stereotype and perceive minority groups to fill this need of a lower class it makes it very difficult for these groups to advance from one socio-economic level to the next. DuBois understood this problem in America and decided that it was necessary for Blacks to break this mold they would first need to dispel the stereotypes that haunted them. His answer to this difficult situation was â€Å"the talented tenth.† The idea behind the concept was that a group of the top ten percent of blacks would excel, raising the entire black social class. Many people have criticized DuBois for these opinions, claiming they are without merit and unrealistic. I do not believe, however, that these people (men like West and Gates) fully understood what DuBois was meant by his talented tenth. In order for a social class to advance the way DuBois wanted Blacks to raise up they must first be perceived as equal and in today’s society we judge the masses and base our opinions of groups of people on the generalizations and stereotypes that we see in the media and we create in our minds. That is the mistake people make in interpreting DuBois. He did not think the newly created Black elites would live in Harlem and help the Black race by encouraging people in their communities. He knew the Black elite would separate themselves from that element of Black culture just as White elites have done for years. He wanted the black elites to change the perceptions of the upper middle class. Changing their perceptions of blacks, which in turn would free the black lower class from those stereoty... Free Essays on Class Vs. Race Free Essays on Class Vs. Race Class vs. Race – The True Determinate We live in a society built of classes. These classes are necessary in a capitalistic society because no matter how rich a nation we become we will always need a lower class to clean the offices we work in and pick the strawberries we eat. Minority groups have found themselves stuck in this class of working poor and because people stereotype and perceive minority groups to fill this need of a lower class it makes it very difficult for these groups to advance from one socio-economic level to the next. DuBois understood this problem in America and decided that it was necessary for Blacks to break this mold they would first need to dispel the stereotypes that haunted them. His answer to this difficult situation was â€Å"the talented tenth.† The idea behind the concept was that a group of the top ten percent of blacks would excel, raising the entire black social class. Many people have criticized DuBois for these opinions, claiming they are without merit and unrealistic. I do not believe, however, that these people (men like West and Gates) fully understood what DuBois was meant by his talented tenth. In order for a social class to advance the way DuBois wanted Blacks to raise up they must first be perceived as equal and in today’s society we judge the masses and base our opinions of groups of people on the generalizations and stereotypes that we see in the media and we create in our minds. That is the mistake people make in interpreting DuBois. He did not think the newly created Black elites would live in Harlem and help the Black race by encouraging people in their communities. He knew the Black elite would separate themselves from that element of Black culture just as White elites have done for years. He wanted the black elites to change the perceptions of the upper middle class. Changing their perceptions of blacks, which in turn would free the black lower class from those stereoty...

Thursday, November 21, 2019

Doea 'informal social control' have any part in explaining the Essay

Doea 'informal social control' have any part in explaining the differential rates of male and female offending - Essay Example The culture is the most dominant factor that has significant impact on the perceived roles of men and women. ‘Boys will be boys’ the famous adage is a prime example of communication behaviour that is appropriate for boys but which would not be suitable for girls. â€Å"women experience linguistic discrimination in two ways: in the way they are taught to use language, and in the way general language usage treats them† (Lakoff). It makes it easier for men to commit crime than women. The religiosity of a particular strata of society or the social structure of that region, contribute to the way people respond towards socially relevant issues and gender inequality. The socio-economical environment and political leanings promote orthodoxy and fanaticism. Patriarchal society endorses male domination that deliberately cast women in the inferior roles and restricts their personal and social development to compete with their counterparts on equal terms. Women, especially in the current time, adopt ways and means to exhibit their independence and empowerment through actions that sometimes border in criminal activities. It is one the reason that explains criminal activities amongst women. According to national statistics, ‘men commit more crimes than women. In 2004, male offenders in England and Wales outnumbered female offenders by more than four to one’ (BCS1, 2004). The survey showed that in all the major crime categories, men out numbered women in committing the crime but it is a distressing fact that the women remained the main target or victims of the crime. It will not be incorrect to say that despite the advancement made in almost all areas of life, the women remain vulnerable target of socio-cultural values. There are various means through which persons imbibe the values that they carry all through their life. Some of them may be through the

Wednesday, November 20, 2019

Law and Policy Case Study Example | Topics and Well Written Essays - 750 words

Law and Policy - Case Study Example The organizational policies that deal with information security are drawn from a number of U.S. laws that include: the National Information Infrastructure Protection Act, 1996, the Communications Decency Act of 1996 (CDA) as well as the Computer Security Act of 1987 (Furlani, 2006). To ensure that it is compliant with all relevant information security laws and regulations, Digitol IT Solutions Ltd has employed information security professionals who are responsible for ensuring that everyone working there understands every single policy and government legislation. These policies act as a guideline on how technology should used and information handles within the company. Ensuring confidentiality is vital in any information system (Zevin, 2004). At Digitol IT Solutions Ltd there is a policy that states that it is wrong for an individual or a group of individuals to access a computer without authorized access. There are some levels of information which are only available to a few members of staff. For instance, financial information of customers is not available to everyone. Only the accountants who deal with payments are allowed to access this confidential information. The policy restricting access to certain computers is in line with the National Information Infrastructure Protection Act, 1996, a federal regulation that makes it a criminal offence for unauthorized persons to gain access to a certain computer where they have been denied entry (Department of Justice, 2011). Another of the company’s information security policy restricts the number and kind of customers who can have full access of their website. Due to fear of hackers and malicious internet users who might want to cause harm or steal some of the company’s technology for ulterior motives, the company requires only trusted users to gain full access to their online services. This policy not only keeps the company’s website secure, it also ensures that sensitive information is not le aked out to unscrupulous individuals. This way the integrity of the company is kept intact and confidentiality is maintained, as is required in the National Information Infrastructure Protection Act, 1996 and the Computer Security Act of 1987. These two laws aim at ensuring that an organization has the proper mechanisms to ensure that all information systems are safe (Department of Justice, 2011 and National Institute of Standards and Technology, 2011). Digitol IT Solutions Ltd operates a rather liberal kind of business, and people have the freedom to be as creative and imaginative as they can. These two skills are pivotal to the success of the company. However, there are strict guidelines as presented in one of the terms of conduct policies, which direct what kind on information or content is allowed into the company’s computer system. An employee of the company was recently relieved of his duties and charged in court for failing to comply with the organization’s poli cies requiring him to upload obscene content on the website from his computer. The court found him guilty of flaunting the Communications Decency Act which stipulates that obscene and indecent material should not be allowed in cyberspace (National Institute of Standards and Technology, 2011). The company also reserves the right to block certain websites from being accessed by its staff. For instance, no one is allowed

Monday, November 18, 2019

Movie Review Essay Example | Topics and Well Written Essays - 1000 words - 3

Movie Review - Essay Example The flask was then place on the magnetic stirrers of the bench and then stirred. 0.5mL of p-anisalaldehyde was then dissolved in 2mL of ethanol into the beaker and then swirled to mix the reactants well. The p-anisalaldehyde solution was then added drop wise with the pipette to the acetone and NaOH solution for a given period of time before the next drop was added to ensure that the solution was mixed well. The reaction was stirred well for 25 minutes. The color change of the solution provided the visible indication of the product formation. At the end of the experiment, the stir bar was returned to the instructor and left the magnetic stirrer on the table. In the Dianisalacetone synthesis, acetone was used as a reagent in the reaction. During the experiment, 3 mL of aqueous NaOH solution was added to 25mL flask then later on 10 mL of acetone was added. The flask was then place on the magnetic stirrers of the bench and then stirred. 1 mL of p-anisalaldehyde was then dissolved in 10 m L of ethanol into the beaker and then swirled to mix the reactants well. The p-anisalaldehyde solution was then added drop wise with the pipette to the acetone and NaOH solution for a given period of time before the next drop was added to ensure that the solution was mixed well. The reaction was stirred well for 20 minutes. At the end of the experiment, the stir bar was returned to the instructor and left the magnetic stirrer on the table. To find the isolation and purification of Anisal or Di-Anisalacetone, the reaction mixture was diluted in the Erlenmeyer flask 10mL of tap water. After submitting to the supervisor, the diluted mixture was then transferred to the separatory funnel found at the HOODS. After draining the yellow organic layer, the solution was later dried with the anhydrous sodium sulfate and then filtered into the round bottom flask. The solvent was later removed with the help of the rotary evaporator and water bath found at room temperature. The