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Banking Math Problems

The document outlines three exercises related to accounting transactions for investment and savings accounts in Cameroon. Exercise 1 involves accounting entries for investment credits, Exercise 2 focuses on managing a savings account with deposits and withdrawals, and Exercise 3 details transactions for another savings account with interest calculations. Each exercise requires presenting accounting entries and calculating interest based on specified rates and durations.

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Ashik Uz Zaman
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86 views2 pages

Banking Math Problems

The document outlines three exercises related to accounting transactions for investment and savings accounts in Cameroon. Exercise 1 involves accounting entries for investment credits, Exercise 2 focuses on managing a savings account with deposits and withdrawals, and Exercise 3 details transactions for another savings account with interest calculations. Each exercise requires presenting accounting entries and calculating interest based on specified rates and durations.

Uploaded by

Ashik Uz Zaman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CONSOLIDATION EXERCISE

Exercise 1

Cameroon investment credit realized the following transactions:

- 15/04/2018: Subscription for a bearer certificate of 12,000,000F at the rate of 6% per

annum. Duration: 6 months

- 01/05/2018: Subscription for a term deposit of 30,000,000F at the rate of 9% per annum.

Duration: 4 months

Work Required

Present the accounting entries:

- Of subscription

- Quarterly closure of account

- The repayment

Exercise 2

Community credit limited carried out the following operations on Mr Ndetseh saving account:

- 01/04/2019: Initial balance 15,000,000F

- 12/04/2019: Lodgment of 6,500,000F

- 18/04/2019: Withdrawal of 6,000,000F

- 10/05/2019: Lodgment of 12,000,000F

- 17/05/2019: Withdrawal of 3,000,000F

- 05/06/2019: Deposit of 8,000,000F

- 23/06/2019: Withdrawal of 3,500,000F

Work Required

1- Present the saving account and calculate the interest to be credited on the 30th June 2019 at the

rate of 4.5% civil year (retain at source 16.5%).

2- Post the accounting entries relative to this account up to the payment of the accrued interest
integrated monthly on the income statement.

Exercise 3

On the 22nd of May 2019, Mr SELEBOBO opened a saving account at SGBC and deposited the

same day 500,000F. He made anther lodgment of 300,000F on the 27th May 2019. On the 13 th June

2019, he withdrew 400,000F and made a deposit of 300,000F two week later. On the 14th of July, he

withdrew 150,000F.

Work Required

Post the accounting entries relative to this account knowing that the credit interest rate was 3.25%
since

the creation of this account up to the 14th July 2019.

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