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

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?

what more information are needed??

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

1 Dave 3 years ago capital Loss attributed to units 1500 2 years ago capital gain attributed to units 1500 as capital loss can be carried forward to t... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!