a.) How much is the total Statutory Reserves of Your Cooperative?b.) How much is the Optional Fund? Your Cooperative-Income StatementYour CooperativeStatement of Financial OperationFor the Period Ending December 31, 2019Interest Revenues1,500,000.00Service Revenues800,000.00Sales1,200,000.00Total Revenues3,500,000.00Less: Cost of Sales800,000.00Gross Profit2,700,000.00Less: Operating ExpensesNet Surplus1,200,000.001,500,000.00

Ans. 150,000 Explanation: As per Financial Reporting Framework for Cooperatives, statutory reserve…

Answered: a.) How much is the total Statutory…

Business

Accounting

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

Problem 1Q

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