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D is obliged to give C P50,000.00 with interest at 12% per annum on December 31, 2020 pursuant to a contract of loan.
Question: What are the requisites of obligation? Discuss and apply your answers to the problem given above.
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- Question 3. Assume that ABC Islamic bank provides Murabahah financing to Hanif for the purpose of house purchase, amounting to RM500,000 at a constant rate of return 9% for a period of 5 years. At the end of the contract, Hanif owes ABC bank amounting to RM50,000. As part of the normal requirements, the customers will be charged a penalty fee 4% per annum for any outstanding amount due at the end of the contract and amount collected is normally disbursed as charity. Required: Show the extract of the balance sheet and income statement of ABC bank from the beginning till the end of the contract, showing the amount of net receivable and Murabahah income. Prepare journal entries for all the above transactions in the book of ABC bank, including the treatment for penalty fee.The interest on a loan of R2 000 to be repaidProblem 2: Robert owes Jones P100,000 due on March 15, 2023. What will Jones accept from Roberts on January 15, 2021 to cancel the debt, if it is agreed that money is worth 5% compounded semiannually? (Additional: Construct a time scale to clarify the solution)
- 1. Companies A and B have been offered the following rates per annum on a $50 million five-year loan: Company A Company B Fixed rate 4.0% 5.2% Floating rate SOFR+0.2% SOFR+0.6% Company A requires a floating-rate loan; company B requires a fixed-rate loan. Design a swap that will net a financial institute, acting as intermediary, 0.2% per annum and that will appear equally attractive to both companies.N4. AccountB10).
- On January 1, 2025, a machine was purchased for $980,000 by Shamrock Co. The machine is expected to have an 8-year life with no salvage value. It is to be depreciated on a straight-line basis. The machine was leased to Pharoah Inc. for 3 years on January 1, 2025, with annual rent payments of $260,000 due at the beginning of each year, starting January 1, 2025. The machine is expected to have a residual value at the end of the lease term of $562,500, though this amount is unguaranteed. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much should Shamrock report as income before income tax on this lease for 2025? Income before income tax $On 1st July 2020 Bashir purchase a machine for RO 15,000. The terms of purchase was 20% cash and the balance to be paid in monthly instalments of RO 500. What amount of the loan will be disclosed under Long term liabilities in the balance sheet on 31 Dec 2020? a. RO 3,000 b. RO 5,000 c. RO 7,000 d. RO 6,000What are the forms and characteristics of hedge accounting Bank B granted on 1.10.20X1 to company D a loan of €200,000 for 10 years with a fixed interest rate of 3%. The loan will be serviced with equal semi-annual installments plus interest that will be paid every 31/3 and 30/09 of each year, while bank B prepares interim financial statements. Wanted:Make the journal entries for the years 20X1-20X2 for company B(for calculations use a period of 90 days for each quarter and 360 days for the year)
- PT Kirana is a company engaged in the export and import sector. January 1, 2020 PT Kirana borrowed a total of IDR 150,000,000 from Bank Pelangi for 3 years with a fixed interest rate on the loan of 9% with changes in effective interest rates, while for 2021 and 2022, the effective interest rate uses the formula “Bank Indonesia interest rates. + 2% ”as the basis for determining the loan interest rate. To avoid interest rate fluctuations, PT Kirana signs a variable-payment contract, accepts the effective interest rate (market interest) swaps with a speculator. Requested:a) Make journals to record transactions related to this swaps contract!b) In accordance with the transaction, the transaction is called a transaction? And in what kind of approach?A man loans P112,735 on March 9, 2010 and promise to pay the amount on July 17, 2014 at simple interest of 9.63%. Determine the following: 1. Exact simple interest. 2. Ordinary simple interest.On 1st January 2019, an Omani importer has to receive commodities for EUR 100,000. This amount should be delivered on 31st January. Which of the following markets is the most suitable to settle his commitment? O a. Cash Market O b. Forward Market O c. Spot Market O d. Immediate Market
