TUTORIAL CHAPTER 2: Miss Uqasha is the Fund Manager of Sejahtera Company. She earns RM10,000 per month and has been with the company for ten (10) years. Miss Uqasha owns a condominium in Bukit Antarabangsa and drives a Honda Jazz. She also plans to be a Remisier in 2021. Recently, her sister and brother in-law passed away in a car accident. They left behind three (3) children and they are under Miss Uqasha's custody. All of them are below 18 years old. She wants to have the best for her nephew and nieces and therefore, she started to gather all related financial information. RM Children living allowance received from Amanah Raya Berhad for every 4,500 three (3) months, first amount in January Monthly tax deduction (MTD) 900 Dividend received in January 2,500 Clothing 5,000 Samsung Galaxy S4 1,500 Savings account at BSN 10,000 Trust fund at ABC Mutual 50,000 Residence 250,000 Home mortgage 100,000 Jewellery 25,000 Automobile 80,000 Three-room apartment at F1 Resort 125,000 Credit card outstanding 3,500 Mortgage outstanding for apartment 110,000 Computer 5,000 Computer loan balance 3,000 Cash on hand 1,000 Utilities bills outstanding 400 Telephone bills outstanding 200 Charitable contribution 1,000 Mortgage payment per month 1,500 Rent received per month 1,200 Maintenance costs for house and apartment per month 300 Car loan payment per month 600 Fuel, maintenance and repair for automobile per month 500 License, parking and toll payments per month 300 Food and household supplies per month 1,000 Utilities per month 350 Quit rent (January) 250 Medical, life and education insurance per year 3,000 Haircuts and beautician per month 100 Computer loan payment per month 300 Zakat 1,500 Car loan balance 38,000 Plasma television 8,000 Astro per month 150 a) Using the information, construct this family's balance sheet and income statement for the year ending 31 December 2019. (20 marks) b) Compute following ratio: i. Liquid asset to take home pay ii. Current ratio iii. Debt ratio iv. Debt service coverage ratio (10 marks) TUTORIAL CHAPTER 2: Miss Uqasha is the Fund Manager of Sejahtera Company. She earns RM10,000 per month and has been with the company for ten (10) years. Miss Uqasha owns a condominium in Bukit Antarabangsa and drives a Honda Jazz. She also plans to be a Remisier in 2021. Recently, her sister and brother in-law passed away in a car accident. They left behind three (3) children and they are under Miss Uqasha's custody. All of them are below 18 years old. She wants to have the best for her nephew and nieces and therefore, she started to gather all related financial information. RM Children living allowance received from Amanah Raya Berhad for every 4,500 three (3) months, first amount in January Monthly tax deduction (MTD) 900 Dividend received in January 2,500 Clothing 5,000 Samsung Galaxy S4 1,500 Savings account at BSN 10,000 Trust fund at ABC Mutual 50,000 Residence 250,000 Home mortgage 100,000 Jewellery 25,000 Automobile 80,000 Three-room apartment at F1 Resort 125,000 Credit card outstanding 3,500 Mortgage outstanding for apartment 110,000 Computer 5,000 Computer loan balance 3,000 Cash on hand 1,000 Utilities bills outstanding 400 Telephone bills outstanding 200 Charitable contribution 1,000 Mortgage payment per month 1,500 Rent received per month 1,200 Maintenance costs for house and apartment per month 300 Car loan payment per month 600 Fuel, maintenance and repair for automobile per month 500 License, parking and toll payments per month 300 Food and household supplies per month 1,000 Utilities per month 350 Quit rent (January) 250 Medical, life and education insurance per year 3,000 Haircuts and beautician per month 100 Computer loan payment per month 300 Zakat 1,500 Car loan balance 38,000 Plasma television 8,000 Astro per month 150 a) Using the information, construct this family's balance sheet and income statement for the year ending 31 December 2019. (20 marks) b) Compute following ratio: i. Liquid asset to take home pay ii. Current ratio iii. Debt ratio iv. Debt service coverage ratio (10 marks)
