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    Delcer High School-Cooperatives

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    Kerine Williams Figaro
    The Delcer High School Cooperative had a surplus of $21,000 for the period ended December 31, 2015. After appropriating funds to statutory reserves, education funds, and proposed dividends, the undistributed surplus for the current year was $6,450. As of December 31, 2015, the cooperative's total assets were $233,400 consisting of non-current assets of $223,430 and current assets of $20,374, with current liabilities of $10,404 resulting in working capital of $9,970. The capital and reserves included share capital of $165,000, statutory reserves of $34,200, education funds of $20,300, and undistributed surplus of

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    Delcer High School-Cooperatives

    Uploaded by

    Kerine Williams Figaro
    23 views1 page
    The Delcer High School Cooperative had a surplus of $21,000 for the period ended December 31, 2015. After appropriating funds to statutory reserves, education funds, and proposed dividends, the undistributed surplus for the current year was $6,450. As of December 31, 2015, the cooperative's total assets were $233,400 consisting of non-current assets of $223,430 and current assets of $20,374, with current liabilities of $10,404 resulting in working capital of $9,970. The capital and reserves included share capital of $165,000, statutory reserves of $34,200, education funds of $20,300, and undistributed surplus of

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    The Delcer High School Cooperative had a surplus of $21,000 for the period ended December 31, 2015. After appropriating funds to statutory reserves, education funds, and proposed dividends, the undistributed surplus for the current year was $6,450. As of December 31, 2015, the cooperative's total assets were $233,400 consisting of non-current assets of $223,430 and current assets of $20,374, with current liabilities of $10,404 resulting in working capital of $9,970. The capital and reserves included share capital of $165,000, statutory reserves of $34,200, education funds of $20,300, and undistributed surplus of

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    23 views1 page

    Delcer High School-Cooperatives

    Uploaded by

    Kerine Williams Figaro
    The Delcer High School Cooperative had a surplus of $21,000 for the period ended December 31, 2015. After appropriating funds to statutory reserves, education funds, and proposed dividends, the undistributed surplus for the current year was $6,450. As of December 31, 2015, the cooperative's total assets were $233,400 consisting of non-current assets of $223,430 and current assets of $20,374, with current liabilities of $10,404 resulting in working capital of $9,970. The capital and reserves included share capital of $165,000, statutory reserves of $34,200, education funds of $20,300, and undistributed surplus of

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    © All Rights Reserved
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    Download as docx, pdf, or txt
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    Delcer High School Cooperative

    Appropriation account for the period ended 31 December, 2015.


    $ $ $
    Surplus for the year 21,000

    Less Appropriations
    Transfers to:
    Statutory Reserves (20% of 21,000) 4,200
    Education fund (10% of 21,000) 2,100
    Dividends [ 5% x (1,650 x 10 x 10)] 8,250
    (14,550)
    Undistributed Surplus for the current year 6,450
    Add: Undistributed surplus b/f 7,450
    Undistributed surplus c/f 13,900

    Delcer High School Cooperative


    Balance Sheet as at 31 December, 2015.
    $ $ $
    NON-CURRENT ASSETS
    At Cost 40,000
    Investments in other cooperatives 183,430
    Total Non-Current Assets 223,430

    CURRENT ASSETS
    Inventory 800
    Accrued Revenue (Interest on Investments) 7,524
    Cash in hand and bank 12,050
    20,374

    Less: CURRENT LIABILITIES


    Accounts Payable 1,600
    Accrued General Expense 554
    Proposed Dividends 8,250
    Total Current Liabilities (10,404)
    Working Capital (CA-CL) 9,970
    233,400
    Financed By:
    CAPITAL AND RESERVES
    Share Capital (1,650 x 10 x 10) 165,000
    Statutory Reserves(30,000 +4,200) 34,200
    Education Funds (18,200+2,100) 20,300
    Undistributed surplus 13,900
    233,400

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