1) Dave has had a segregated contract for five years. Each year his deposits have been $5,000....
Question:
1) Dave has had a segregated contract for five years. Each year his deposits have been $5,000. Three years ago capital losses of $1,500 were allocated to Dave’s units. Two years ago a capital gain of $1,500 was attributable to his units in the fund. This year the fund allocated interest income of $500. What is the current adjusted cost base of Dave’s segregated fund?
2) On April 1,1993 Joe Bloggs signed a contract with a linear method of reduction for withdrawals, bought, and paid for a $15,000 segregated fund with a maturity guarantee of 75%. In the same month in 1997, Joe withdrew $3,000. What amount will Joe be entitled to under the contract on April 1, 2003?
3). Imran deposits $5,000 to a segregated fund contract on January 1, 2004 with a 75% maturity guarantee. The contract has a policy-based guarantee. Imran resets the contract on December 10, 2004 when its value is $6,010. What will be the maturity guarantee for the contract?
4)Jan brought his seg fund contract with a $10,000 deposit. The net asset value per unit was $4. During the first year, income per unit was $0.25/unit. What was the net asset value after the distribution?
5) . Jan brought his seg fund contract with a $10,000 deposit. The net asset value per unit was $4. During the first year, income per unit was $0.25/unit. What were the number of units after the distribution?
6) Jan brought his seg fund contract with a $10,000 deposit. The net asset value per unit was $4. During the first year, income per unit was $0.25/unit. In the next year, Jan withdrew $4,000 from the contract. Using the linear reduction method, what is the value of the guarantee in the contract following the withdrawal?
7) Jan brought his seg fund contract with a $10,000 deposit. The net asset value per unit was $4. During the first year, income per unit was $0.25/unit. In the next year, Jan withdrew $4,000 from the contract. Using the proportional reduction method, what is the value of the guarantee in the contract following the withdrawal?
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Managerial Accounting
ISBN: 978-1118385388
2nd edition
Authors: Ramji Balakrishnan, Konduru Sivaramakrishnan, Geoff B. Sprinkle