Question

1. A company had outstanding checks totaling 7.400  on its July bank reconciliation. In August, the company issued checks totaling 38.900 . The August bank statement shows that 26.300 in checks cleared the bank in August. A check from one of the company’s customers in the amount of 300 was also returned marked “NSF”. The amount of outstanding checks on the company’s August bank reconciliation should be...

1. 12.600

2. 20.000

3. 19.700

4. 5.200

2.Suppose that a company is established with zero cash on 01.01.2019 and the following transactions occur in 2019. The company sells an inventory at a price of 50.000 TL. The cost of the inventory is 40.000 TL. The company receives 20.000 TL cash payment and a 6.000 USD check at the time of the sale when 1 USD=5 TL. At the maturity date of the check, USD appreciates to 5,2 TL and the company immediately clears the check to its bank. In a physical count towards the end of the year, cash count shows 18.000 TL, which does not agree with the cash balance in the books. Unfortunately, the company cannot find the reason of the mismatch in any case. Assuming that there are no more transactions throughout the year, what would be the net profit or loss for that year?

1. 10.800

2. 11.200

3. 8.000

4. 9.200 

3.Suppose that the company has a balance sheet as follows at the beginning of the year. In that single year, the following transactions occur. One of the customers pays his 1.400 TL amount of debt by check. The company immediately pays its 1.200 TL amount of debt by endorsing these checks. After a while, another customer pays 900 TL cash for an outstanding debt. The company deposits 800 TL of this amount to its bank. Then, the company decides to pay one half of its debts via EFT, and the other half of its debts by issuing its own checks. Lastly, the payee cashes these checks from the bank. Assuming that there are no more transactions throughout the year, what would be the total asset at the end of that year?

1. 1.000

2. 1.400

3. 1.800

4. 2.000
   

4.A company purchases 40.000 TL par valued 5-years government bonds. The bonds provide a 6% annual return, with annual payments, and the market yield is 8% in annual terms. The Company has both the ability and intent to hold the securities until the maturity date. Assuming that the current conditions will not change throughout the maturity, what would be the total approximate interest revenue to be received by the company on these bonds?

1. 16.000

2. 12.630

3. 9.260

4. 19.370 

5. Suppose that a portfolio management company manages an investment fund. The fund manager observes a bond in the market and intends to add it to the fund portfolio. The bond has a 100.000 TL par value, 10% coupon rate (coupon payments are annual) and a 2-years maturity. The business model is to “hold-until-maturity”. The company purchases the bond at the beginning of the year when the market yields are 12%. After exactly 1 year of investment, market yields increase to 14%. What would be the approximate profit or loss amount in the income statement for that 1-year period?

1. 11.786

2. 10.191

3. 9.871

4. 8.277
   

 Thank you so much for your help !