CSEC Principles of Accounts · May/June 2015 · Paper 2 · Question 7(a)

Vegi Lands Farmers' Co-operative operations data for year ended 31 December 2014: Share capital 500 000 (5 each); Surplus for the year 65 000 from total sales of 350 000; Undistributed surplus from previous years 125 000; Proposed distributions: Dividends 0.50 per share; 20% to Members' Educational Fund; 5% of total sales to members as patronage refunds; 30% to Disaster Relief Fund.

Prepare the co-operative Appropriation Account for the year ended 31 December 2014. (Show working clearly).