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-   -   Automobile 14,200.00 Accumulated Amortization at start of period 9,546.94 Rate: 2 (https://www.askmehelpdesk.com/showthread.php?t=833461)

  • Jul 18, 2017, 07:25 PM
    centvin
    Automobile 14,200.00 Accumulated Amortization at start of period 9,546.94 Rate: 2
    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
  • Jul 19, 2017, 06:13 PM
    paraclete
    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

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