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View Full Version : Automobile 14,200.00 Accumulated Amortization at start of period 9,546.94 Rate: 2


centvin
Jul 18, 2017, 07:25 PM
Can't solve these adjustments

1.

Automobile
14,200.00


Accumulated Amortization at start of period
9,546.94


Rate:
20%


Adjust for whole year




2.

Building
147,100.00


Accumulated Amortization at start of period
8,650.66


Rate:
2%


Adjust for whole year

3.

Insurance Policy Value remaining at start of period:
12,900.00



Time remaining in the policy at start of period
40
months


Adjust for 1 month (December) only

4.

Interest was deducted directly from the bank account. The monthly rate of interest for all debt (assume it is on total of loans and mortgages only) is:
0.8%
of balance owing


Total value of loans and mortgages on the 1st of the month is:
64,500.00

paraclete
Jul 19, 2017, 06:13 PM
I think you might have to open a text book

The first answer is simple arithmetic
The second answerer also requires simple arithmetic
the third requires the assumption that the value is amortized in monthly rests
The forth requires you to calculate interest on the value of the loan