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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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