Acct322 – Acct405 – Acct422 – Acct424

I have 4 assignments I need help to solve them. and make sure there are no plagiarism

Assignment Question(s): 1 ACCT322
Q1. Define in Your words
a. Cost Centre
[0.5 mark]
b. Profit Centre
[0.5 mark]
c. Investment Centre
[0.5 mark]
Answer:
Q2. Hamed Company is preparing budgets for the quarter ending June 30, 2019.
Budgeted sales in units for the next five months are:
April
May
June
July
20,000
50,000
30,000
25,000
Required:
a. Prepare Sales budget for April, May & June assuming selling price per unit is SR 15.
[2.5 marks]
b. Prepare production budget for April, May & June if the company wishes ending inventory as
10 % of next month sales units.
Answer:
[2.5 marks]
Q3. Karim Corporation is considering two alternatives that are code-named A and B. Costs
associated with the alternatives are listed below:
Alternative A
Alternative B
Supplies costs
SAR 33 000
SAR 33 000
Assembly costs
SAR 48 000
SAR 51 000
Power costs
SAR 32 000
SAR 22 000
Inspection costs
SAR 11 000
SAR 27 000
Required:
a. Which costs are relevant and which are not relevant in the choice between these two alternatives?
[2.5 Marks]
b. What is the differential cost between the two alternatives?
[2.5 Marks]
Answer
Q.4 Karim Industries is a division of a major corporation. Last year the division had total sales of
SAR 43,380,000, net operating income of SAR 4,828,980, and average operating assets of SAR
9,000,000. The company’s minimum required rate of return is 12%.
Required:
a. What is the division’s margin?
[1 mark]
b. What is the division’s turnover?
[1 mark]
c. What is the division’s return on investment (ROI)?
[1.5 marks]
Answer
Assignment Question(s): 2 ACCT405
1) Explain the various activities of Mortgage Servicing in detail.
(Minimum of 150 Words)
2) Explain the Three Approaches of Hybrid Financial Instruments in
detail. (Answer should not be less than 150 words)
3) Explain the Tabular Format, Sensitivity Approach and Value at Risk
Approach in terms of their Strengths and Weaknesses.
(Answer should not be less than 150 words)
Assignment Question(s) 3 ACCT422
Question 1: To make income taxable, income must be realized and recognized. Explain in your own
words the difference between income realization and income recognition, then provide a short
numerical example to indicate the difference.
Question 2: Growth is one of the important conditions for assents to be eligible for Zakat. Using
your own words, discuss the importance of growth and the reason behind requiring such rule.
Question 3: Using your own words, explain the different concepts of income from accounting,
economics, and taxation perspectives.
Question 4: Abdulaziz is a Saudi citizen has submitted his zakat return including the following
information for 1444 H.
a) Owns an investment building at a book value of SAR 750,000, with a market value of SAR
950,000, the investment building produced an annual revenue of SAR 500,000, and the actual total
expenses incurred related to the investment building is SAR 75,000 annually.
b) Owns an investment car at a book value of 250,000 and with market value of 280,000, the car
produced a monthly rental value of 25,000, actual total expenses incurred every month of getting the
income is SAR 3,000.
Required: Calculate the receptacle of the zakat for each kind of zakat 1444 H.
Assignment Question(s): 4 ACCT424
Q1. Reinsurance is a form of insurance purchased by insurance companies in order to mitigate risk.
Essentially, reinsurance can limit the amount of loss an insurer can potentially suffer. In other words,
it protects insurance companies from financial ruin, thereby protecting the companies’ customers
from uncovered losses.
Questions:
a. How do reinsurance companies work?
b. What are the Reinsurance Contracts?
c. Give example of reinsurances companies in KSA and describe their main services
Q2. What is the concept of “Fair Value? Outline the basic difference between fair value and book value
of an asset. Explain the key features of fair value defined by FASB ASC.
Q3. XYZ Company has the following financial data:
Particulars
Total Profit for the Year
General Takaful Assets (Year 2014)
General Takaful Assets (Year 2015)
Amounts (SAR)
377,500
1,390,000
1,517,500
Cash
Short-term Investment
Short term liabilities
Underwriting Surplus Distributable to Participants/Participants’ Share of Profit
Gross Contribution
Net Contribution
Wakalah Fee
Commission Paid
Management Expense
Net Claim Incurred
Earned Contribution
You are required to calculate:
a) Return on Assets
b) Quick Liquidity
c) Surplus Distribution Ratio
d) Expense Ratio
e) Claims Ratio
11,500
23,500
85,000
145,500
958,000
662,500
77,500
28,300
58,000
287,500
632,500