Quelpr
7 marksCo-operatives

CSEC Principles of Accounts · May/June 2014 · Paper 2 · Question 6(a)

Young Achievers Credit Union Co-operative formed on 01 January 2014 with 12 000 student members who each paid 3 membership fee and bought five shares at 10 each.

Prepare the journal entries, including narrations, to record the formation transactions.

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Other parts of this question

  1. 6(b)(i)Calculate the cost of drinks sold for the BBQ fundraising activity.[4 marks]
  2. 6(b)(ii)Prepare the Income Statement for the BBQ fundraising activity to show the profit made from this event.[6 marks]
  3. 6(b)(iii)Calculate the amount of income for the month of March 2014, showing working clearly.[3 marks]

More practice: the rest of this paper · more Co-operatives questions · all CSEC Principles of Accounts past papers