The interest on share capital and patronage refund was decided by the BODs to be 50-50. How much will be allocated for the Interest on Share Capital?
The interest on share capital and patronage refund was decided by the BODs to be 50-50. How much will be allocated for the Interest on Share Capital?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The interest on share capital and patronage refund was decided by the BODs to be 50-50. How much will be allocated for the Interest on Share Capital?
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff34d6e09-8427-4c96-bb50-7163def105a5%2F4b25167c-a381-4ca6-b8b4-75995313aa03%2F557p7yo_processed.png&w=3840&q=75)
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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