Question: PART 1: CALCULATION QUESTIONS (10 marks) Direction: Answer the following question by using the required proforma and formulas. Jacob enters an operating or regular Ijara

PART 1: CALCULATION QUESTIONS (10 marks)

Direction: Answer the following question by using the required proforma and formulas.

Jacob enters an operating or regular Ijara Contract with independent Islamic Bank to rent a machine for his car repair business. The cost of the machine is USD250,000. Th rate of profit is 8 %. The lease period is 5 years.

Required:

1. Determine the Total Lease Rental (5 marks)

2.Monthly Lease Rental (3 Marks)

3.Amount of profit. (2 Marks)

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 Finance Questions!

PART 1: CALCULATION QUESTIONS (10 marks) Direction: Answer the following question by using the required proforma and formulas: Fatma wants to start a daycare business and she has decided to get...

1. Elsyian Fields ,Inc., uses a maximum payback period of 6 years and currently must choose between two mutually exclusively projects. Project Hydrogen requires an initial outlay of BD 25000, project...

PART 1: CALCULATION QUESTIONS (10 marks) Direction: Answer the following question by using the required proforma and formulas. 1. A 5 year bond with 10 % coupon rate and BD 2000 Face value and has...

Please help me answer the following question and use excel for the formulas because I am using this information to write a paper. The company is Starbucks and I am trying to learn this on my own but...

Please read carefully, all necessary information is attached, need to show work let me know if there is something missing. Microsoft word can be used thanks. You are Cindy, completing the analysis...

this is the questionplease help me thanksits a project about renovation one level of a building. project management case . This is a renovation project On the basis of group work as a personal...

please help with the assignment to answer the following question : Which currency is Open Safari's presentation currency? Which currency is Open Safari's functional currency? Note: you will need to...

ALL DATA RELATES TO THE PERIOD UNDER CONSIDERATION IN THIS REVIEW, AND ACTUAL AND STANDARD COSTS PER UNIT ARE UNCHANGED FROM THE PREVIOUS PERIOD AYB225 ASSIGNMENT SEMESTER 1 2015 ALL DATA RELATES TO...

Looking for accounting tutor to complete this assignment. Need and A grade for reasonable price given easy deadline. AYB225 ASSIGNMENT SEMESTER 1 2015 ALL DATA RELATES TO THE PERIOD UNDER...

An AC Current is an electric current whose flow oscillates sinusoidally. Suppose a particular AC current varies between 5 amps and -5 amps with a frequency of 60 cycles/s. If at time = 0.5s the...

For the fiscal year that just ended, Crawford Inc. had total selling and administrative expenses of $90,000 including total depreciation expense of $45,000. Over the course of the year, the firm also...

Which of the following IS a value you can store with the uint 8 data type? Group of answer choices 2 5 5 5 0 0 5 . 5 - 1

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

(Appendices) INVENTORY TURNOVER. A recent annual report for The Limited shows cost of goods sold for the year of approximately $5,286 million and average inventory of approximately $769 million...

(Appendices) RECORDING SALES. Sullivan Company sells industrial cleaning supplies and equipment to other businesses. During the first quarter of 19x2, the following transactions occurred: a) On...

(Appendices) CORRECTING AN ERRONEOUS WRITE-OFF. The new bookkeeper at Karlin Construction Company was asked to write off two accounts totaling $1,710 that had been determined to be uncollectible....