a.) How much is the total Statutory Reserves of Your Cooperative? b.) How much is the Optional Fund?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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a.) How much is the total Statutory Reserves of Your Cooperative?

b.) How much is the Optional Fund?

Your Cooperative-Income Statement
Your Cooperative
Statement of Financial Operation
For the Period Ending December 31, 2019
Interest Revenues
1,500,000.00
Service Revenues
800,000.00
Sales
1,200,000.00
Total Revenues
3,500,000.00
Less: Cost of Sales
800,000.00
Gross Profit
2,700,000.00
Less: Operating Expenses
Net Surplus
1,200,000.00
1,500,000.00
Transcribed Image Text:Your Cooperative-Income Statement Your Cooperative Statement of Financial Operation For the Period Ending December 31, 2019 Interest Revenues 1,500,000.00 Service Revenues 800,000.00 Sales 1,200,000.00 Total Revenues 3,500,000.00 Less: Cost of Sales 800,000.00 Gross Profit 2,700,000.00 Less: Operating Expenses Net Surplus 1,200,000.00 1,500,000.00
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