QUESTION 2As a CEO of Gempak Gempur Sdn Bhd, Datuk Ikhwan would like to apply a line of credit forhome renovation. However, the bank asked him to put a collateral for the purpose ofsecurity. Datuk Ikhwan asked some advice from Mrs Fauzana, his personal assistant whohad graduated in BBA(Hon) Islamic Banking. Below is Datuk Ikhwan's personal financialinformation.NoAssetRMStocks60,00035,000150,0001Balance in Tabung HajiPersonal Loan with RHBBank2BMW Car250,0001,2002,00050,000500,00077,0004Sijil Simpanan PremiumGroceriesBank depositLand7Hire purchase of HarleyDavidson (balance)Public Mutual Unit Trust3,0004,5001011Credit card balance withBank Siap SiagaMarketable securities5,00025,00055,0003,00010,0001213CollectiblesSavings with CIMB BankTelephone billsDeposit in OSK Investment141516account17Townhouse financing300,000balance at DamansaraUtama

Mr. Datuk Ikwan's want to some line of credit from the bank which are needed for the renovation of…

As a CEO of Gempak Gempur Sdn Bhd, Datuk Ikhwan would like to apply a line of credit for home renovation. However, the bank asked him to put a collateral for the purpose of security. Datuk Ikhwan asked some advice from Mrs Fauzana, his personal assistant who had graduated in BBA(Hon) Islamic Banking. Below is Datuk Ikhwan's personal financial information. No Asset RM 60,000 35,000 150,000 1 Stocks Balance in Tabung Haji Personal Loan with RHB 3

As a CEO of Gempak Gempur Sdn Bhd, Datuk Ikhwan would like to apply a line of credit for home renovation. However, the bank asked him to put a collateral for the purpose of security. Datuk Ikhwan asked some advice from Mrs Fauzana, his personal assistant who had graduated in BBA(Hon) Islamic Banking. Below is Datuk Ikhwan's personal financial information. No Asset RM 60,000 35,000 150,000 1 Stocks Balance in Tabung Haji Personal Loan with RHB 3

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter4: The Accounting Cycle

Section: Chapter Questions

Problem 5TIF

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