In the year 2022, Al Aqsa Bank earned an annual profit attributable to the Unrestricted Mudaraba...
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In the year 2022, Al Aqsa Bank earned an annual profit attributable to the Unrestricted Mudaraba account before the distribution of profit to the bank amounting to $15,000,000. Depositors' profit-sharing ratio is 75% and Bank's is 25%. Below is the information about deposit types, average balance, and the weight used for the bank's Mudaraba deposit account. Investments Tenure 6 months and less 9 months and less 12 months and less More than 12 months Average Balance 10,000,000 35,000,000 42,000,000 23,000,000 Weights 0.65 0.75 0.96 1.15 Four Investors/Depositors: Zayd $600,000 investment placement for 9 months Aisyah $450,000 investment placement for more than 12 months Mateen $1,100,000 investment placement for 6 months Alesha $500,000 investment for 12 months. Required: Determine the Weighted Average Balance, Investor's share of profit, and investor Rate of Return for Zayd, Aisyah, Mateen, and Alesha for the year 2022 In the year 2022, Al Aqsa Bank earned an annual profit attributable to the Unrestricted Mudaraba account before the distribution of profit to the bank amounting to $15,000,000. Depositors' profit-sharing ratio is 75% and Bank's is 25%. Below is the information about deposit types, average balance, and the weight used for the bank's Mudaraba deposit account. Investments Tenure 6 months and less 9 months and less 12 months and less More than 12 months Average Balance 10,000,000 35,000,000 42,000,000 23,000,000 Weights 0.65 0.75 0.96 1.15 Four Investors/Depositors: Zayd $600,000 investment placement for 9 months Aisyah $450,000 investment placement for more than 12 months Mateen $1,100,000 investment placement for 6 months Alesha $500,000 investment for 12 months. Required: Determine the Weighted Average Balance, Investor's share of profit, and investor Rate of Return for Zayd, Aisyah, Mateen, and Alesha for the year 2022
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Answer rating: 100% (QA)
Calculate the Weighted Average Balance Investors share of profit and Investor Rate of Return for each of the four investors Zayd Aisyah Mateen and Alesha for the year 2022 as follows Calculate the Wei... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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