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- 12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 BANK CURRENCY DTH 62.000121 02 CERTIFICATES OF FX RECEIVABLES 62.000What transaction does the registration made above belong to?A) Acceptance of the policy by the bankB) Endorsement of the policyC) Returning the policy to the bankD) Payment of the policy by the bankE) Collection of the policy by the bankQuestion Items EUR/USD USD/MYR USD/SGD Spot (28 October 2018) 1.1017/18 4.2200/699 1.3917/87 1 Month 473/492 74/119 106/138 2 Month 103/106 152/202 225/285 3 Month -187/+187 278/228 36/42 The following rates are quoted by banks as at 28 October 2018.Based on the above rates, calculate the following (assume no margins or charges areimposed and all exchange controls/regulations are complied with):a. Quoting bank sells USD/MYR at value spotb. Quoting bank buys SGD/MYR fixed three month delivery c. Exporter sells USD/MYR option spot to 3 month d. Importer buys EUR/SGD 1 month to 2 month delivery12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 BANK CURRENCY DTH 62.000121 02 SHARES OF FX RECEIVABLES 62.000What transaction does the above record belong to?A) Acceptance of the policy by the bankB) Endorsement of the policyC) Returning the policy to the bankD) Payment of the policy by the bankE) Collection of the policy by the bank
- Items EUR/USD USD/MYR USD/SGD Spot (28 October 2018) 1.1017/18 4.2200/699 1.3917/87 1 Month 473/492 74/119 106/138 2 Month 103/106 152/202 225/285 3 Month -187/+187 278/228 36/42 The following rates are quoted by banks as at 28 October 2018.Based on the above rates, calculate the following (assume no margins or charges areimposed and all exchange controls/regulations are complied with):a. Quoting bank sells USD/MYR at value spotb. Quoting bank buys SGD/MYR fixed three month delivery c. Exporter sells USD/MYR option spot to 3 month d. Importer buys EUR/SGD 1 month to 2 month deliverySpot (28 October 2018) 1.1017/18 4.2200/699 1.3917/87 1 Month 473/492 74/119 106/138 2 Month 103/106 152/202 225/285 3 Month -187/+187 278/228 36/42 The following rates are quoted by banks as at 28 October 2018.Based on the above rates, calculate the following (assume no margins or charges areimposed and all exchange controls/regulations are complied with): a. Quoting bank sells USD/MYR at value spotWhat is the bank statement balance at June 30, 2023?a. P70,564.40b. P78,314.60c. P83,109.60d.. P87,904.60
- Assets ($) 2019 2018 2017 Cash on Hand & at Banks 1844388 2907252 3696201 Accounts Receivable Net 21373839 27958818 23638244 Notes Receivable 0 0 0 Post Dated Cheques 7430502 5910795 5481999 Short Term Investments 111502 111502 0 Inventory 14772540 15359933 16127022 Spare Parts 0 0 0 Total Current Assets 50764763 59355234 56162203 Long Term Investments 2247122 2305477 2346362 Fixed Assets Net 36960544 32892460 23018610 Lands 3338194 3344028 3364400 Projects in Progress 5544 4350057 10455510 Total Fixed Assets 40304282 40586545 36838520 Other Assets 6417935 6157108 5067638 Total Assets 99734102 108404364 100414723 Liabilities ($) 2019 2018 2017 Accounts and Notes Payable 9488026 9042459 6830212 Credit Banks 21176536 19278649 13508941 Short Term Loans 15347569 14306482 12568640 Accrued Part of Long Term Loans 3816788 3818532 3663256 Total Current Liabilities 63973817 67090416 44303485 Long Term Loans & Notes Payable 9883426…q11 Which of the following is an arrangement by which one party promises to pay a sum of money to policyholder as protection against an adverse or unfavorable occurrence of event? a. Short Term Loans b. Fixed Deposit c. Insurance d. Investment q12 Insurance companies and brokerage houses are examples of which of the following. a. Financial instruments b. Financial institutions c. Medium of exchange d. Financial marketsAssets ($) 2019 2018 2017 Cash on Hand & at Banks 5936423 4037185 5960614 Accounts Receivable Net 1470879 1404974 1582153 Notes Receivable 0 0 0 Post Dated Cheques 29875 494480 400000 Short Term Investments 79029 79635 77462 Inventory 2480573 3663516 2230840 Spare Parts 296355 302883 325156 Total Current Assets 10648691 10431007 10628454 Long Term Investments 24000 24000 24000 Fixed Assets Net 1209909 1078634 1148657 Lands 151173 151173 0 Projects in Progress 5356 4378 0 Total Fixed Assets 1366438 1234185 1148657 Other Assets 0 0 0 Total Assets 12039129 11689192 11801111 Liabilities ($) 2019 2018 2017 Accounts and Notes Payable 989423 528431 423042 Credit Banks 0 88265 0 Short Term Loans 0 0 0 Accrued Part of Long Term Loans 0 0 0 Total Current Liabilities 1766230 1338167 1218900 Long Term Loans & Notes Payable 0 0 0 Corporate Bonds 0 0 0 Other Liabilities 0 0 0 Total Liabilities 1766230 1338167 1218900 Shareholders…
- Assets ($) 2019 2018 2017 Cash on Hand & at Banks 5936423 4037185 5960614 Accounts Receivable Net 1470879 1404974 1582153 Notes Receivable 0 0 0 Post Dated Cheques 29875 494480 400000 Short Term Investments 79029 79635 77462 Inventory 2480573 3663516 2230840 Spare Parts 296355 302883 325156 Total Current Assets 10648691 10431007 10628454 Long Term Investments 24000 24000 24000 Fixed Assets Net 1209909 1078634 1148657 Lands 151173 151173 0 Projects in Progress 5356 4378 0 Total Fixed Assets 1366438 1234185 1148657 Other Assets 0 0 0 Total Assets 12039129 11689192 11801111 Liabilities ($) 2019 2018 2017 Accounts and Notes Payable 989423 528431 423042 Credit Banks 0 88265 0 Short Term Loans 0 0 0 Accrued Part of Long Term Loans 0 0 0 Total Current Liabilities 1766230 1338167 1218900 Long Term Loans & Notes Payable 0 0 0 Corporate Bonds 0 0 0 Other Liabilities 0 0 0 Total Liabilities 1766230 1338167 1218900 Shareholders…Assets ($) 2019 2018 2017 Cash on Hand & at Banks 5936423 4037185 5960614 Accounts Receivable Net 1470879 1404974 1582153 Notes Receivable 0 0 0 Post Dated Cheques 29875 494480 400000 Short Term Investments 79029 79635 77462 Inventory 2480573 3663516 2230840 Spare Parts 296355 302883 325156 Total Current Assets 10648691 10431007 10628454 Long Term Investments 24000 24000 24000 Fixed Assets Net 1209909 1078634 1148657 Lands 151173 151173 0 Projects in Progress 5356 4378 0 Total Fixed Assets 1366438 1234185 1148657 Other Assets 0 0 0 Total Assets 12039129 11689192 11801111 Liabilities ($) 2019 2018 2017 Accounts and Notes Payable 989423 528431 423042 Credit Banks 0 88265 0 Short Term Loans 0 0 0 Accrued Part of Long Term Loans 0 0 0 Total Current Liabilities 1766230 1338167 1218900 Long Term Loans & Notes Payable 0 0 0 Corporate Bonds 0 0 0 Other Liabilities 0 0 0 Total Liabilities 1766230 1338167 1218900 Shareholders…Question 2 The following information was taken from the books of Zia Traders on 30 June2019:1. The items appearing on the bank reconciliation statement of Zia Traders asat 31 May 2019.Details Amount(R)Balance as per bank statement (unfavourable) 25 400Outstanding deposit 5 700Outstanding cheques:CHQ116 1 430CHQ135 2 780Correction of incorrect cheque (see note 2.5 below) 570Balance as per bank account ?2. A comparison of the cashbooks for June, the above bank reconciliationstatement and the bank statement for June showed the following:2.1 Provisional totals in the cashbooks on 30 June: Cashbook Receipts R 113 200 Cashbook Payments R 96 0002.2 The outstanding deposit at the end of May for R5 700 appeared onthe bank statement on 5 June 2019.2.3 Cheque number CHQ135 appeared on the bank statement on7 June for R3 100. An investigation revealed that the bankstatement amount was correct.2.4 Cheque number CHQ116 still did not appear on the bank statementfor June 2019. The cheque was…