Club Accounts - Loan and Investment calculations

Question 1

Bank loan + 15 months interest at 8% per annum on 31/12 = 66,000

Calculate:
1. The amount of the loan
2. The interest due for the accumulated fund
3. The interest due for the investment & expenditure account

Answer 1

60,000 = Loan amount
2,800 = loan interest due (acc. fund)
3,200 = loan interest (i&e account)

Question 2

[Top of Q.] Investment interest due = 550
[Receipts] Income from 2% Investments = 1,900

Calculate:
1. The value of the 2% investments
2. The investment interest for the accumulated fund
3. The investment interest due for the I&E

Answer 2

Value = 67500
Due for Acc. Fund = 550
I&E Due = 1,350