The following are the balances of accounts in the Statement of Operations of the Quezon Cooperative for the Year Ended December 31, 2020.How much is to be allocated for Optional Development fund? Surcharges20,000.00170,000.0012,000.0038,000.006,000.0012,000.001,600.00Interest from LoansFilling FeeService FeeUtilities ExpenseRepresentation and Travel AllowanceTaxes and LicensesSocial Services ExpensesGeneral Assembly ExpensesInterest Earned from Bank Deposits1,000.0019,000.0058,000.0018,000.0010,000.00Membership Benefit's ExpenseOffice Supplies ExpenseFidelity Bond PremiumRepairs and MaintenanceDepreciation ExpensesMiscellaneous Expenses900.0010,000.0039,000.004,000.00

calculation of allocation of optional development fund are as follows.

Answered: he following are the balances of…

he following are the balances of accounts in the Statement of Operations of the Quezon Cooperative for the Year Ended December 31, 2020. How much is to be allocated for Optional Development 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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