Question
For the accounting year ending 31 st December 2021, Bank Bder earns a profit of $20,000,000 on the balances in equity investment accounts. The profit-sharing
For the accounting year ending 31st December 2021, Bank Bder earns a profit of $20,000,000 on the balances in equity investment accounts. The profit-sharing ratio between Mudharabah deposit account holders is 57.3%. The following details the deposit types, average balance, and the weights used for Mudharabah deposit accounts of the bank in 2021.
Investment categories | Total Amount | Weightages |
Defined deposits | 24119000.00 | 87% |
Investment Certificates | 50000000.00 | 90% |
Iqra | 30000000.00 | 83% |
Tejoori | 80000000.00 | 43% |
Required:
Ignore transfers to profit equalization reserves and investment risk reserve.
For the accounting year ending 31st December 2021, Bank Bder earns a profit of $20,000,000 on the balances in equity investment accounts. The profit-sharing ratio between Mudharabah deposit account holders is 57.3%. The following details the deposit types, average balance, and the weights used for Mudharabah deposit accounts of the bank in 2021. Investment categories Total Amount Weightages Defined deposits 24119000.00 87% Investment Certificates 50000000.00 90% Iqra 30000000.00 83% Tejoori 80000000.00 43% Required: Ignore transfers to profit equalization reserves and investment risk reserve. What is the weighted average of the 'Defined Deposit? Calculate the profit of the 'Investment Certificates'. What is the rate of return for Tejoori account holders? 9.15% Not among the choices provided 3.93% $20983530.00 $4,116,263.33 Not among the choices providedStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started