March 2015 01 Balance 02 Sales (debtors) 17 Mr A (debtor) 30 FBC limited FBC limited Adjusted Cash Payment Journal at March 2015 Date Details March 2015 01 Balance 01 Payment cheque no 1017 02 Services 17 Dishonoured cheque 24 Drawings cheque no 191 Bank $ 2 327 300 35 314 2 976 Bank $ 2 095 165 41 70 67 2 438 FBC limited Adjusted Cash Journal at March 2015 DR CR Date Details Bank($) Date Details Bank($) Mar2015 Mar2015 01 Balance 2 327 01 Balance 2 095 02 Sales (debtors) 300 01 Payment no1017 165
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total amount you have to repay depends on how much you spend on your card, how much of the balance you repay each month and the interest rate we charge you. Your Pre-Contract Credit Information contains an example of this. You must make at least the minimum payment shown in your monthly statement by the due date. The minimum payment is made up of interest, and any default charges plus 1% of the outstanding balance. Any arrears or amount over your limit are repayable immediately. You can pay as much as
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Chapter 1 1. What is finance * Finance is the study of the flow of money * Borrowing and lending * Financial institutions-the middle man * Financial instruments and markets 2. Fields and jobs in finance * Money and capital market * Markets and institutions that provide short and long term capital: investment banks, banks, mutual funds, insurance companies, stockbrokers * Regulators: Fed, SEC (security and exchange commission) * Investments * Security analysis
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is $20,000. Minimum cash balance is $15,000. Maximum cash balance is $50,000 (excess cash over $50,000 invested in marketable securities) In case of cash shortfall, marketable securities are liquidated before any borrowing takes place. Assume that there is no marketable security balance and no short term loan balance as of June 1 Required: Prepare the following schedules (for months of June - Sept): - round to even dollars a. Cash receipts, monthly b. Monthly cash payments c. Complete monthly cash
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75% of the estimated economic life of the leased property. A4 – RECOVERY OF INVESTMENT. The present value of the minimum lease payments equals or exceeds 90% of the fair value of the leased property less any investment tax credit retained by the lessor. FOR LESSOR ONLY: (must meet both) B1 - COLLECTIBILITY. Collectibility of the minimum lease payments is reasonably predictable. B2 - NO UNCERTAINTIES. No important uncertainties surround the amount of unreimburseable costs yet to
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Chapter 3 Partnership Liquidation and Incorporation; Joint Ventures The title of each problem is followed by the estimated time in minutes required for completion and by a difficulty rating. The time estimates are applicable for students using the partially filled-in working papers. Pr. 3–1 Doris, Elsie & Frances Partnership (20 minutes, easy) Journal entries for liquidation of an insolvent general partnership having a partner who is unable to pay entire capital deficit to the
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by adding interest for each period in which the money can earn interest in the future. This process is called compounding Amortization schedule: A schedule showing precisely how a loan will be repaid. It gives the payment required on each payment date and a breakdown of the payment, showing how much is interest and how much is repayment of principal One of the most important applications of compound interest involves loans that are paid off in installments over time. Included in this category
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interest rate per period. Nper is the total number of payment periods in an annuity. Pmt is the payment made each period; it cannot change over the life of the annuity. Pmt must be entered as a negative number. Pv is the present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero). PV must be entered as a negative number. Type is the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be
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size of each payment Determine the outstanding liability Describe amortization with irregular payment Prepare an amortization schedule Nature of Amortization Amortization Refers to the process of liquidating by installment the payments (at a regular interval) of a loan or debt, including the interest charges By the process of amortization, the principal and the interests are reduced by a series of installment payments made either at the beginning or at the end of the payment interval
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Deedto all real estate, including residence and/or any and all land. Verification of medical insurance cost for children only Verification of monthly day care cost for children Costs of transportation for visitation Verification of other child support payments made either by you or your spouse for any children of a previous marriage or children prior to marriage Certificates of Deposit ____ 4. ____ 5. ____ 6. ____ 7. ____ 8. ____ 9. ____ 10. ____ 11. ____ 12. ____ 13. ____ 14. GENERAL
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