Delcer High School

Appropriation Account for the year ended December 31, 2015

$ $

Surplus for the year 21 000

Add: Undistributed Surplus at beginning 7 450

Total available for appropriation 28 450

Less:

Transfer to Statutory Reserve Fund (20% x 21 000) 4 200

Transfer to Education Fund (10% x 21 000) 2 100

Dividend Proposed (5% x 165 000) 8 250 (14 550)

Unappropriated Surplus at End 13 900

1 650 students x 10 shares at $10 each

1 650 x 10 x 10 = $165 000
 Delcer High School
Statement of Financial Position as at December 31, 2015

Non-Current Assets $ $ $

Non-current assets at cost 40 000

Investments in other Cooperatives 183 430

223 430

ADD CURRENT ASSETS

Closing Stock 800

Interest due on Investment (Revenue 7 524

Accrual)

Cash in hand and at bank 12 050

20 374

Less: CURRENT LIABILITIES

General Expenses Accrual 554

Accounts Payable 1 600

Dividend Proposed (5% x 165 000) 8 250 (10 404)

Working Capital 9 970

Net Assets 233 400

Share Capital (1650 x 10 x$10) 165 000

Add: Education Fund (18 200 + 2 100) 20 300

Statutory Reserve Fund (30 000 + 4 200) 34 200

Unappropriated Surplus at end 13 900 68 400

Share capital and reserves at end/Capital 233 400

Employed