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6 marksCo-operatives

CSEC Principles of Accounts · May/June 2011 · Paper 2 · Question 6(a)

A buying cooperative formed by 50 housewives with initial fees and share subscriptions.

Prepare the journal entries to record the monies collected for: Registration fees, and Share purchase.

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Other parts of this question

  1. 6(b)Prepare the Appropriation Account for the Goodlands Housewives Cooperative for the year ended April 30, 2011.[8 marks]
  2. 6(c)(i)Calculate the amount of the patronage refund due to Mrs Cunningham, showing all working clearly.[2 marks]
  3. 6(c)(ii)Calculate the TOTAL amount that should be paid to her, by the cooperative, out of this year's surplus, showing all working clearly.[3 marks]
  4. 6(d)State ONE benefit, to the housewives, of joining the Goodlands Housewives Cooperative Society.[1 mark]

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