Finance Answers

The sales data of XYZ ltd (in million of shillings) for the years 2001 and 2004 inclusive are as given as below:

2001; 40, 64, 124, 58.

2002; 42, 84, 150, 62.

2003;46, 78, 154, 96.

2004;54, 78, 184, 106.

Calculate the estimated sales for each quarter of the year 2004

There is established, pursuant to Article 225 of the Constitution, an entity of the national government to be known as the National Treasury. Discuss the various responsibilities and powers of the National Treasury.

After the tangible assets have been adjusted to fair values, the capital accounts of Rey Refozar and Rogelio Ceradoy have balances of P75,000 and P125,000, respectively. Elmer Dimayuga is to be admitted to the partnership, contributing P50,000 cash to the partnership, for which he is to receive equity of P65,000. All partners share equally in profit.

Required:

1. Prepare the journal entry to record the admission of Dimayuga who is to receive a bonus of P15, 000.

2. Calculated the capital balance of each partner after the admission of the new partner.

The capital accounts of Loida Cardenas and Christian San Jose have balances of P150,000 and P110,000, respectively. Daria Labalan and Helen Magada are to be admitted to the partnership. Labalan buys one-fifth of Cardenas'interest for P35,000 and one-fourth of San Jose's interest for P25,000. Magada contributes P70,000 cash to the partnership, for which she is to receive ownership equity of P70,000.

Required:

1. Journalize the entries to record the admission of Labalan and Magada.

2. What are the capital balances of each partner after the admission of the new partners?

1] A newborn child receives a $20000 gift towards her tertiary education from her grandparents who insisted the gift should be put in investment for 18 years by the baby’s parents. The highest rate offered was 7%. Parents of the baby opted for the investment to be compounded quarterly.

i. What is the compound interest on the investment

ii. How much is the investment worth.

It is the practice of almost all banks in the Philippines that when they grant a loan, the interest for one year is automatically deducted from the principal amount upon release of money to a borrower. Let us therefore assume that you applied for a loan with a bank and the P80,000 was approved at an interest rate of 14% of which P11,200 was deducted and you were given a check of P68,800. Since you have to pay the amount of P80,000 one year after, what then will be the effective interest rate?

 State and explain three microfinance credit and savings principles   

How much money will need to invest today if it will be compounded bi-monthly with the rate of 6 % and will be withdrawn in 3 years? The amount of money after three years is ₱35425.

Compute the total interest of a money worth ₱2500 after 7 months if is based on simple interest with the rate of 11%.

Find the amount of ₱13450 after 5 years if it will be considered compounded semi annually at the rate of 9%.

You need a P40,000 per year for 4 years to go to college. Your father invested P50,000 in a 7% account for your education when you were born. If you withdraw the P40,000 at the end of your 17th, 18th, 19th, and 20th years, how much money will be left in the account at the end of your 21st year?

Mr. Arroyo bought a piece of property for P100,000 down payment and 10 deferred semiannual payments of P8,000 starting 3 years from now. If the interest rate is 12% compounded semiannually, what is the present worth of the property?