Question: 12. Abdullah bin Ahmad has entered into a Mudaraba contract with Bank Syariah Berhad in which he provides monetary capital of $500,000 to be managed

 12. Abdullah bin Ahmad has entered into a Mudaraba contract with
Bank Syariah Berhad in which he provides monetary capital of $500,000 to
be managed and invested by the Bank. The Bank provides Al-Mudharabah Moqayadah

12. Abdullah bin Ahmad has entered into a Mudaraba contract with Bank Syariah Berhad in which he provides monetary capital of $500,000 to be managed and invested by the Bank. The Bank provides Al-Mudharabah Moqayadah investment account facility to Abdullah whereby the Bank will invest in a specific project as agreed by the client. For this project, there are two other investors, Hashim and Ibrahim, who have invested $500,000 and $200,000 respectively. The prolit sharing between four of them is 5:5:3:2 for Abdullah, Hashim, Ibrahim and the Bank, respectively. The Bank has entered into another Mudaraba contract (Re-Mudaraba) with ihsan Development Berhad to undertake manufacturing project and they agreed on the profit sharing ratio of 60:40 (Bank: Ihsan). Required: You are required to determine the profit or loss to be shared at the end of the contract by the five parties (write the names while answering) involved above if: Profit $900,000 based on these information, answer questions from 14 - 18 14- Compute the profit for Ihsan Development Berhard. (SHOW YOUR CALCULATION) Note: write the numbers as follow 100,000 without any currency. 13. Compute the profit for Abdullah (SHOW YOUR CALCULATION) (1 Point) Enter your answer 14. Compute the profit for Hashim. (SHOW YOUR CALCULATION) (1 Point) Enter your answer 15. Compute the profit for Ibrahim. (SHOW YOUR CALCULATION) 15. Compute the profit for Ibrahim. (SHOW YOUR CALCULATION) (1 Point) Enter your answer 16. Compute the profit for the Islamic bank. (SHOW YOUR CALCULATION) (1 Point) Enter your

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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!