Scribd Logo
Upload

Welcome to Scribd!

  • 84 views

    Dividend and Patronage Refund Final

    Uploaded by

    JohnVerjoGeronimo
    The cooperative reported total revenues of $3.5 million for 2019 with a net surplus of $1.5 million. It allocated 10% of the net surplus to reserve funds and the remainder was declared as dividends at a 50-50 split between interest on share capital and patronage refunds totaling $1.05 million. Member information and calculations were provided to compute individual member dividends based on their monthly share capital and patronage amounts over the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Dividend and Patronage Refund Final

    Uploaded by

    JohnVerjoGeronimo
    84 views5 pages
    The cooperative reported total revenues of $3.5 million for 2019 with a net surplus of $1.5 million. It allocated 10% of the net surplus to reserve funds and the remainder was declared as dividends at a 50-50 split between interest on share capital and patronage refunds totaling $1.05 million. Member information and calculations were provided to compute individual member dividends based on their monthly share capital and patronage amounts over the year.

    Original Description:

    dividend

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The cooperative reported total revenues of $3.5 million for 2019 with a net surplus of $1.5 million. It allocated 10% of the net surplus to reserve funds and the remainder was declared as dividends at a 50-50 split between interest on share capital and patronage refunds totaling $1.05 million. Member information and calculations were provided to compute individual member dividends based on their monthly share capital and patronage amounts over the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    84 views5 pages

    Dividend and Patronage Refund Final

    Uploaded by

    JohnVerjoGeronimo
    The cooperative reported total revenues of $3.5 million for 2019 with a net surplus of $1.5 million. It allocated 10% of the net surplus to reserve funds and the remainder was declared as dividends at a 50-50 split between interest on share capital and patronage refunds totaling $1.05 million. Member information and calculations were provided to compute individual member dividends based on their monthly share capital and patronage amounts over the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Your Cooperative

    Statement of Financial Operation


    For the Period Ending December 31, 2019
    Interest Revenues 1,500,000.00
    Service Revenues 800,000.00
    Sales 1,200,000.00
    Total Revenues 3,500,000.00
    Less: Cost of Sales 800,000.00
    Gross Profit 2,700,000.00
    Less: Operating Expenses 1,200,000.00
    Net Surplus 1,500,000.00

    Instructions:
    1. Allocate the Net Surplus based on the mandated statutory reserves.
    2. Allocate the remainder for dividends. The interest on share capital and patronage refund was decided by the BODs

    Allocation of Net Surplus


    Reserve Fund 10% 150,000.00
    Education and Training Fund 10% 150,000.00
    Community Development Fund 3% 45,000.00
    Optional Fund 7% 105,000.00
    Total Statutory Reserves 450,000.00

    Allocation of Remainder for Declared by Allocated from Net


    Interest and Patronage BODs Surplus
    Interest on Share Capital 50% 525,000.00
    Patronage Refund 50% 525,000.00
    Total Dividends 1,050,000.00
    as decided by the BODs to be 50-50.
    The following information for each of the members is given below. Compute their dividends.

    Members Particulars January February March April May

    Co- Share Capital 1,000.00 1,400.00 1,800.00 2,200.00 2,400.00


    member 1 Patronage 2,000.00 - - 4,000.00 5,000.00
    Co- Share Capital 2,500.00 3,000.00 3,500.00 3,700.00 4,000.00
    member 2 Patronage - - - 2,000.00 -
    Co- Share Capital 800.00 900.00 1,200.00 1,300.00 1,500.00
    member 3 Patronage 1,000.00 - 500.00 - -
    Co- Share Capital 3,000.00 3,500.00 4,000.00 4,500.00 5,000.00
    member 4 Patronage 1,000.00 2,000.00 5,000.00 - -
    Co- Share Capital 2,500.00 2,700.00 3,400.00 3,600.00 3,800.00
    member 5 Patronage 5,000.00 1,000.00 - - -
    Co- Share Capital 4,500.00 6,000.00 7,000.00 8,000.00 9,000.00
    member 6 Patronage 3,000.00 2,500.00 - 1,500.00 2,000.00
    Co- Share Capital 8,000.00 8,100.00 8,200.00 8,300.00 8,400.00
    member 7 Patronage 2,500.00 - - - 1,500.00
    Co- Share Capital 5,500.00 6,000.00 7,000.00 7,100.00 7,200.00
    member 8 Patronage 2,000.00 1,000.00 1,500.00 - -
    Co- Share Capital 1,500.00 3,000.00 4,500.00 6,000.00 7,500.00
    member 9 Patronage 1,500.00 2,000.00 2,500.00 3,000.00 -
    Co- Share Capital 5,000.00 5,500.00 6,000.00 6,500.00 7,000.00
    member 10 Patronage 3,000.00 1,500.00 2,000.00 - -
    Other Share Capital 50,000.00 80,000.00 90,000.00 110,000.00 150,000.00
    Members Patronage 10,000.00 25,000.00 35,000.00 50,000.00 100,000.00
    Total Share Capital
    Total Patronage of Members
    June July August September October November December

    2,700.00 2,900.00 3,100.00 3,500.00 3,600.00 3,700.00 4,000.00


    - - - 1,500.00 4,000.00 2,500.00 -
    4,100.00 4,200.00 4,300.00 4,400.00 4,600.00 4,800.00 4,900.00
    - 5,000.00 - - 5,000.00 - 1,500.00
    1,800.00 2,000.00 2,200.00 2,400.00 2,600.00 3,000.00 4,000.00
    - 1,500.00 - - 2,000.00 2,500.00 1,500.00
    5,500.00 5,600.00 5,700.00 5,800.00 5,900.00 6,000.00 6,500.00
    5,000.00 6,000.00 - - 3,000.00 2,000.00 1,500.00
    4,000.00 4,200.00 4,500.00 4,800.00 5,000.00 5,500.00 5,800.00
    - - 500.00 1,500.00 - 2,000.00 3,000.00
    10,000.00 10,500.00 10,800.00 11,000.00 11,500.00 12,000.00 12,200.00
    3,000.00 - - - - 1,500.00 2,000.00
    8,500.00 9,000.00 9,500.00 12,000.00 12,500.00 13,000.00 13,500.00
    - - - 4,500.00 5,000.00 3,000.00 2,000.00
    7,300.00 7,400.00 7,600.00 7,800.00 8,000.00 10,000.00 10,500.00
    - 4,000.00 - 2,500.00 - - 5,000.00
    9,000.00 10,500.00 13,000.00 14,500.00 16,000.00 17,500.00 20,000.00
    - - - - - 1,500.00 500.00
    7,500.00 8,000.00 9,000.00 10,000.00 11,000.00 12,000.00 13,000.00
    2,000.00 - - 5,000.00 - - 3,000.00
    200,000.00 250,000.00 300,000.00 400,000.00 500,000.00 700,000.00 800,000.00
    60,000.00 80,000.00 90,000.00 80,000.00 50,000.00 70,000.00 85,000.00
    Average Share Interest on Patronage Total
    Totals
    Months Share Capital Refund Dividends

    32,300.00 2,691.67 3,861.70


    19,000.00 11,176.47 15,038.17
    48,000.00 4,000.00 5,738.75
    13,500.00 7,941.18 13,679.93
    23,700.00 1,975.00 2,833.51
    9,000.00 5,294.12 8,127.63
    61,000.00 5,083.33 7,293.00
    25,500.00 15,000.00 22,293.00
    49,800.00 4,150.00 5,953.95
    13,000.00 7,647.06 13,601.01
    112,500.00 9,375.00 13,450.20
    15,500.00 9,117.65 22,567.84
    119,000.00 9,916.67 14,227.32
    18,500.00 10,882.35 25,109.67
    91,400.00 7,616.67 10,927.54
    16,000.00 9,411.76 20,339.30
    123,000.00 10,250.00 14,705.55
    11,000.00 6,470.59 21,176.14
    100,500.00 8,375.00 12,015.51
    16,500.00 9,705.88 21,721.39
    3,630,000.00 302,500.00 433,992.99
    735,000.00 432,352.94 866,345.93
    365,933.33
    892,500.00 525,000.00 525,000.00

    You might also like