Reference no: EM133080360
Question - Fatima owns land and plans to build a small factory to produce imitation jewellery. She needs financing for the construction of this factory and has signed an Istisna contract with Turki Islamic Bank (TIB). The bank has contracted TurkishConstruction (TC) for the job.
The details included in the Istisna and parallel Istisna contract are:Construction cost at actuals of the factory (Turkish lira) TRL1,000,000
- Financing period 10 years
Repayment quarterly instalments
- Detailed specifications of the asset - jewellery factory- TIB profit margin 8% of construction cost
- TC will take 6 months to build the factory- TC profit margin also 6% of construction cost
TC requires downpayment of 10% of construction cost at contract- Balance 60% payment to TC in six equal instalments over the 6 months of construction. Final 30% at delivery.
a. What is the price at which the TIB will buy the factory from TC?
b. What is the price at which the TIB will sell the factory to Fatima?
c. How much down-payment will the TIB pay to TC?
d. How much will be each instalment paid during construction to TC?
e. How much will the TIB pay TC at delivery?
f. What will be the instalment amount that Fatima will pay each quarter to theTIB over the 10 years?
|
Intellectual property rights in jurisdictions
: 1. Do you think, overall, that countries in the world are becoming more democratic, or less democratic, in nature? Why?
|
|
How long will you have to wait to buy the stereo
: You need $12,000 to buy a new stereo for your car. It you have $18010 invest at 7.2% compounded annually, how long will you have to wait to buy the stereo
|
|
What transaction principles are used in the transaction
: A loyal laptop is judged by Pegadaian officers for Rp. 4,500,000, According to you, what transaction principles are used in the transaction above
|
|
Calculate the present value
: Question - Calculate the present value of $7000, due in three years at 5.40 per cent per annum compounded monthly
|
|
What is the price at which the TIB will buy the factory
: Fatima owns land and plans to build a small factory to produce imitation jewellery. What is the price at which the TIB will buy the factory from TC
|
|
Journalize the transactions
: During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Journalize the transactions
|
|
Prepare any adjusting journal entry that is necessary
: Novak Incorporated provides solar energy services to Toronto. Prepare any adjusting journal entry that is necessary at December 31, 2021
|
|
Prepare the closing entries for the temporary accounts
: Analysis shows that adjusting entries were made to (1) accrue $5,000 of service revenue and (2) accrue $2,200 interest expense. Prepare the closing entries
|
|
Systems development life cycle
: Review the steps of the Systems Development Life Cycle (SDLC) and reflect on the scenario presented.. Design of the new system,
|