1. How much is the net surplus?

2. How much is allocated to the Community Development Fund pursuant to the provisions of RA 9520?

3.  How much is allocated to Education and Training Fund pursuant to the provisions of RA 9520?

4. How much is allocated to Optional  Fund pursuant to the provisions of RA 9520?

5. How much is allocated to General Reserve  Fund pursuant to the provisions of RA 9520?

6. How much is allocated to Interest on Share Capital pursuant to the provisions of RA 9520?

7. How much is allocated to Patronage Refund pursuant to the provisions of RA 9520?

Transcribed Image Text:

The Following were the balances of accounts in the Statement of Operations of the Tomay Credit Cooperative for the Year Ended December 31, 2021: Collection from Penalties and fines Interest from Loans Filing Fee Service Fee Utilities Expense Representation and Travel Allowance Taxes and Licenses. Social Services Expenses General Assembly Expenses Interest Earned from short term Investment Membership Benefit's Expense Office Supplies Expense Repairs and Maintenance Depreciation Expenses Miscellaneous Expenses 10,000.00 170,000.00 12,000.00 38,000.00 6,000.00 12,000.00 1,600.00 1,000.00 19,000.00 58.000.00 18,000.00 10,000.00 10,000.00 39,000.00 4,000.00 The Following were the balances of accounts in the Statement of Operations of the Tomay Credit Cooperative for the Year Ended December 31, 2021: Collection from Penalties and fines Interest from Loans Filing Fee Service Fee Utilities Expense Representation and Travel Allowance Taxes and Licenses. Social Services Expenses General Assembly Expenses Interest Earned from short term Investment Membership Benefit's Expense Office Supplies Expense Repairs and Maintenance Depreciation Expenses Miscellaneous Expenses 10,000.00 170,000.00 12,000.00 38,000.00 6,000.00 12,000.00 1,600.00 1,000.00 19,000.00 58.000.00 18,000.00 10,000.00 10,000.00 39,000.00 4,000.00

Answer rating: 100% (QA)

To answer your questions we need to calculate the net surplus and then allocate the surplus to different funds according to the provisions of RA 9520 ... View the full answer