No. 7(a): Preparation of the Income Statement of Liontown Co-operative for the year ended 31st December, 2010: No. 7(a): Preparation of the Appropriation Account of Liontown Co-operative for the year ended 31st December, 2010: Workings:
Below is the Appropriation Account of Liontown Co-operative for the year ended 31st December, 2010: No. 7(b) (i): Identifying the type of co-operative Liontown will be classified under in year one and year two:
No. 7(b) (ii): One committee the Liontown Co-operative is likely to use to carry out its business:
No. 7(b) (iii): One purpose of the Member’s Education Fund:
No. 7(c): Accounting for the appropriation of the surplus of $157,500 for the year ended 31st December, 2011: No. 7(c): Below is the classified Balance Sheet of Liontown Cooperative as at 31st December, 2011: I hope that you found this proposed solution helpful! If you did please share it! Also, feel free to ask any questions or to make your comments below. Good Luck!
3 Comments
Chelsea Mohan
7/12/2019 06:07:01 am
can you do a solution for june 2011? principle of accounts
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Chelsea Mohan
7/23/2019 04:35:12 pm
entire question of june 2012
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AuthorThe author holds a Bsc (Hons) Degree in Applied Accounting from Oxford Brookes University, England and enjoys a successful career as an Accounting Supervisor and a private tutor. Archives
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