Banking: set 3
10 questions. Click an option: a correct answer turns green, a wrong one red, and an explanation appears.
A company placed a six-month term deposit of 40 000 000 soum with a bank at 18% simple annual interest. Interest for the first quarter (3 months) was accrued but not yet received. What is the interest amount and the journal entry under NAS No. 21?
A company transferred idle cash from its settlement account to a six-month term deposit at a bank. What journal entry is made under NAS No. 21?
A client placed a deposit of 36 500 000 soum with a bank: 20% simple annual interest, term 73 days, a year taken as 365 days (interest = amount × rate × days / 365). How much interest is received at the end of the term?
A company bought interest-bearing government bonds intending to sell them in six months and paid for them from its settlement account at the bank. What journal entry is made under NAS No. 21?
A commercial bank's annual interest income is 180 bln soum, interest expenses 110 bln soum, and the average value of its earning assets 1 400 bln soum. What is the net interest margin ((interest income − interest expenses) / earning assets)?
In the simplified textbook deposit multiplier model, banks hold no money beyond required reserves, and all loans granted return to banks as deposits. If the notional reserve ratio is 20%, by at most how much can total deposits increase as a result of a new deposit of 10 000 000 soum entering the system (multiplier = 1 / reserve ratio)?
A company discounted a bill of exchange with a face value of 20 000 000 soum and 3 months to maturity at a bank. The bank applied an annual discount rate of 24%, with the discount calculated on the face value (discount = face value × rate × months / 12). How much money does the company receive from the bank?
An entrepreneur took a bank loan of 10 000 000 soum: 2 years, 10% per annum, equal (annuity) payments at the end of each year. Payment = loan × rate / (1 − (1 + rate)^(−2)). Approximately what is the annual payment?
Money received from parents for the upkeep of a kindergarten on a factory's balance sheet is collected in a separate special account opened at the bank. Under NAS No. 21, in which account is the movement of these funds recorded?
"Asaka avtoqism" LLC assigned a buyer's receivable of 50 000 000 soum to a bank under a factoring agreement. The bank immediately pays 80% of the receivable and withholds a fee of 2% of the receivable (hypothetical terms). How much money does the company receive immediately?