The following financial information pertains to the results of Future Islamic Bank at the end of...

 
 

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The following financial information pertains to the results of Future Islamic Bank at the end of 2021: Average account balances: Current accounts (Amanah) Equity investment account holders Bank Equity $30 million $110 million $70 million Property, plant and equipment and subsidiaries Net revenue (net of expenses) generated by the above funds Banks policy states that for liquidity purposes, the bank keeps the following percentages in cash of each fund to meet expected withdrawals: Current accounts Equity investment account holders Bank Equity $40 million 70% 20% 0% $20 million The bank's policy states that in profitable years the accounts of investment risk reserve and profit equalization reserve should be credited by a maximum of 7% and 4%, respectively. The board decides on the amount transferred to these accounts at the end of each year. In 2020 the board decided to apply the maximum percentages stated in the policy. The profit-sharing ratio is 75% to the clients (equity of investment account holders). Required: Do not round figures in the intermediate steps. Round your answer to the nearest cent and without commas. Your answer should be written as follow $xxxxxxxxxXxxXxx.xx What is the size of the pool (total investment of depositors and the bank) of investment? What is the size of the investment of the equity investment account holders? What is the share of the mudharabah profit out of the total profit of the pool? Calculate the investment risk reserve. Calculate profit equalization reserve. What is the bank's share in mudharabah profit? Calculate the profit of the equity investment account holders? The answer is not among the list The answer is not among the list The answer is not among the list The answer is not among the list $9,279,496.06 $116,000,000.00 $800,000.00 $970,078.74 $800,000.00 The answer is not among the list The answer is not among the list The answer is not among the list $13,858,267.72 The answer is not among the list $386,645.67 $127,000,000.00 The answer is not among the list The answer is not among the list $88,000,000.00 $3,222,047.24 The following financial information pertains to the results of Future Islamic Bank at the end of 2021: Average account balances: Current accounts (Amanah) Equity investment account holders Bank Equity $30 million $110 million $70 million Property, plant and equipment and subsidiaries Net revenue (net of expenses) generated by the above funds Banks policy states that for liquidity purposes, the bank keeps the following percentages in cash of each fund to meet expected withdrawals: Current accounts Equity investment account holders Bank Equity $40 million 70% 20% 0% $20 million The bank's policy states that in profitable years the accounts of investment risk reserve and profit equalization reserve should be credited by a maximum of 7% and 4%, respectively. The board decides on the amount transferred to these accounts at the end of each year. In 2020 the board decided to apply the maximum percentages stated in the policy. The profit-sharing ratio is 75% to the clients (equity of investment account holders). Required: Do not round figures in the intermediate steps. Round your answer to the nearest cent and without commas. Your answer should be written as follow $xxxxxxxxxXxxXxx.xx What is the size of the pool (total investment of depositors and the bank) of investment? What is the size of the investment of the equity investment account holders? What is the share of the mudharabah profit out of the total profit of the pool? Calculate the investment risk reserve. Calculate profit equalization reserve. What is the bank's share in mudharabah profit? Calculate the profit of the equity investment account holders? The answer is not among the list The answer is not among the list The answer is not among the list The answer is not among the list $9,279,496.06 $116,000,000.00 $800,000.00 $970,078.74 $800,000.00 The answer is not among the list The answer is not among the list The answer is not among the list $13,858,267.72 The answer is not among the list $386,645.67 $127,000,000.00 The answer is not among the list The answer is not among the list $88,000,000.00 $3,222,047.24 The following financial information pertains to the results of Future Islamic Bank at the end of 2021: Average account balances: Current accounts (Amanah) Equity investment account holders Bank Equity $30 million $110 million $70 million Property, plant and equipment and subsidiaries Net revenue (net of expenses) generated by the above funds Banks policy states that for liquidity purposes, the bank keeps the following percentages in cash of each fund to meet expected withdrawals: Current accounts Equity investment account holders Bank Equity $40 million 70% 20% 0% $20 million The bank's policy states that in profitable years the accounts of investment risk reserve and profit equalization reserve should be credited by a maximum of 7% and 4%, respectively. The board decides on the amount transferred to these accounts at the end of each year. In 2020 the board decided to apply the maximum percentages stated in the policy. The profit-sharing ratio is 75% to the clients (equity of investment account holders). Required: Do not round figures in the intermediate steps. Round your answer to the nearest cent and without commas. Your answer should be written as follow $xxxxxxxxxXxxXxx.xx What is the size of the pool (total investment of depositors and the bank) of investment? What is the size of the investment of the equity investment account holders? What is the share of the mudharabah profit out of the total profit of the pool? Calculate the investment risk reserve. Calculate profit equalization reserve. What is the bank's share in mudharabah profit? Calculate the profit of the equity investment account holders? The answer is not among the list The answer is not among the list The answer is not among the list The answer is not among the list $9,279,496.06 $116,000,000.00 $800,000.00 $970,078.74 $800,000.00 The answer is not among the list The answer is not among the list The answer is not among the list $13,858,267.72 The answer is not among the list $386,645.67 $127,000,000.00 The answer is not among the list The answer is not among the list $88,000,000.00 $3,222,047.24 The following financial information pertains to the results of Future Islamic Bank at the end of 2021: Average account balances: Current accounts (Amanah) Equity investment account holders Bank Equity $30 million $110 million $70 million Property, plant and equipment and subsidiaries Net revenue (net of expenses) generated by the above funds Banks policy states that for liquidity purposes, the bank keeps the following percentages in cash of each fund to meet expected withdrawals: Current accounts Equity investment account holders Bank Equity $40 million 70% 20% 0% $20 million The bank's policy states that in profitable years the accounts of investment risk reserve and profit equalization reserve should be credited by a maximum of 7% and 4%, respectively. The board decides on the amount transferred to these accounts at the end of each year. In 2020 the board decided to apply the maximum percentages stated in the policy. The profit-sharing ratio is 75% to the clients (equity of investment account holders). Required: Do not round figures in the intermediate steps. Round your answer to the nearest cent and without commas. Your answer should be written as follow $xxxxxxxxxXxxXxx.xx What is the size of the pool (total investment of depositors and the bank) of investment? What is the size of the investment of the equity investment account holders? What is the share of the mudharabah profit out of the total profit of the pool? Calculate the investment risk reserve. Calculate profit equalization reserve. What is the bank's share in mudharabah profit? Calculate the profit of the equity investment account holders? The answer is not among the list The answer is not among the list The answer is not among the list The answer is not among the list $9,279,496.06 $116,000,000.00 $800,000.00 $970,078.74 $800,000.00 The answer is not among the list The answer is not among the list The answer is not among the list $13,858,267.72 The answer is not among the list $386,645.67 $127,000,000.00 The answer is not among the list The answer is not among the list $88,000,000.00 $3,222,047.24

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The profit equalization reserve is amount appropriated by Islamic ban... View the full answer