Question: 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.

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?

The Following were the balances of accounts in the Statement of Operations of the Tomay Credit Cooperative

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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

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 full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

How much is the change in liquid specific volume for water at 20oC as you move up from state I towards state j in figure 3.12 reaching 15 000 kPa?

How much is the change in liquid specific volume for water at 20oC as you move up from state i towards state j in figure 3.12 reaching 15 000 kPa?

How much is the net income attributable to Product M, assuming that joint costs are allocated using the Approximate Net Realizable Value x, and after being processed further, 1,800 gallons of Product...

Inventory Adjustments Dimitri Company, a manufacturer of small tools, provided the following information from its accounting records for the year ended December 31, 2010. Additional information is as...

Pan Corporation acquired an 85 percent interest in Sly Corporation on August 1, 2011, for $522,750, equal to 85 percent of the underlying equity of Sly on that date. In August 2011, Sly sold...

Selected information, which is reported to the chief operating officer, for the five segments of Rad Company for the year ended December 31, 2011, is as follows: The lumber segment has not been a...

Serial Bond Debt Service Fund Journal Entries and Financial Statements. As of December 31, 2010, New Town had $9,500,000 in 4.5 percent serial bonds outstanding. Cash of $509,000 is the debt service...

Complete the requirements for each of the following independent cases: Case A. Dr Pepper Snapple Group, Inc., is a leading integrated brand owner, bottler, and distributor of nonalcoholic beverages...

Identify Departures from GAAP. The balance sheet and statement of activities for the Central Area Disadvantaged Youth Center for fiscal year 2011, prepared by a volunteer accountant with business...

The McConnell Department Stores, Inc., chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the average for the industry. The CEO has...

DirectCall Company uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 4,000 units of mobile phones are as follows: DirectCall...

To stop a car, first you require a certain reaction time to begin braking; then the car slows at a constant rate. Suppose that the total distance moved by your car during these two phases is 56.7 m...

12 This is part of Raj's homework. Question a Show the inequality 5 -

Diane's Dairy Sales & Delivery finished its first year of operations on December 31, 2014. After adjusting journal entries, the company presented the following adjusted trial balance. Using this...

How may budgets be used as a measure of performance?

On January 9, a company pays $5,000 for salaries and wages of which $2,000 was reported as Salaries and Wages Payable on December 31. Give the entry to record the payment.

What are the advantages of budgeting?

1. Which of the following is false about the self-employed health insurance deduction? a. The deduction cannot be claimed when a subsidized employer health insurance plan is also available. b. The...

IgnoreVATOverview Granite(Pty)Ltd(hereafter"Granite")isamanufacturerandsellerofhigh-quality audio-visualequipment and appliances. Granite has investments in Marble (Pty) Ltd (hereafter "Marble") and...

Analysis of expenditures and expenses. (1) Do any components of expenditures and, at the government-wide level, expenses exhibit sharp growth? (2) How flexible are expenditures? That is, are there...

For the Ball Corporation, perform a Du Pont analysis on the ROE of the company, and discuss significant changes in ROE and the source of the change. UNITED STATES SECURITIES AND EXCHANGE COMMISSION...

Howard county Meryland Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2012 1-Does the government have revenue bonds outstanding that are related to business-type activities?...

Detroit: The Case of Bankruptcy of a City Government Review the attached case study. Describe and discuss five major factors that have led to the city's bankruptcy. How are the problems specifically...

Operations Effectiveness. Does it appear that the Mayo Clinic management team is operating effectively as a nonprofit organization? Are they controlling operations? Why or why not? What evidence can...

I need these three questions answered please? I am attaching the Budget Analysis and the CAFR for Georgia for reference. These questions are pertaining to the assignment labeled CAFR Budget Analysis....