Client ABC MULTI-PURPOSE COOPERATIVE

Year End DECEMBER 31

Subject ADJUSTED TRIAL BALANCE for the year 2023

Account Title 2023

CASH ON HAND 210,779.05
PETTY CASH FUND 15,000.00
CASH IN BANK 101,538,470.44
LOANS RECEIVABLE - net 156,415,742.61
ACCOUNTS RECEIVABLE 9,499,444.20
ADVANCES FROM OFFICERS/STAFF 53,739.64
OTHER CURRENT INVESTMENTS 19,024,610.77
MERCHANDISE INVENTORIES 6,261,609.00
OFFICE SUPPLIES 106,819.50
NON-CURRENT INVESTMENTS 4,795,343.31
OTHER FUNDS AND DEPOSITS 21,683,469.88
PROPERTY, PLANT AND EQUIPMENT - net 15,538,457.20
OTHER NON-CURRENT ASSETS 12,623.32
LOANS PAYABLE - 241,695,695.69
ACCOUNTS AND OTHER PAYABLES - 1,185,406.26
ACCRUED EXPENSES - 38,309.38
DUE TO UNION/FEDERATION - 347,575.26
INTEREST ON SHARE CAPITAL -
PATRONAGE REFUND PAYABLE -
RETIREMENT BENEFIT PAYABLE - 594,281.43
OTHER NON-CURRENT LIABILITIES - 1,185,358.98
SHARE CAPITAL - 63,954,501.65
DONATIONS AND GRANTS - 8,474,043.15
STATUTORY FUNDS
GENERAL RESERVE FUND - 9,100,180.73
COOP. EDUC. & TRAINING FUND - 353,772.98
COMMUNITY DEVELOPMENT FUND - 1,679.88
OPTIONAL FUND - 2,627,460.85
SALES - 46,813,719.35
COST OF SALES 45,108,867.90
INCOME FROM CREDIT OPERATIONS - 20,220,678.59
OTHER INCOME - 2,541,366.30
SALARIES AND OTHER BENEFITS 6,502,550.87
SUPPLIES EXPENSE 123,424.75
UTILITIES EXPENSE 190,854.27
TRAVEL EXPENSE 8,760.86
REPAIRS EXPENSE 254,395.00
TAXES AND LICENSES 15,044.03
PROFESSIONAL AND AUDIT FEES 209,632.00
GENERAL ASSEMBLY EXPENSE 395,023.89
TRAINING AND SEMINARS 76,314.50
DEPRECIATION EXPENSE 71,638.55
RETIREMENT EXPENSE 100,000.00
GAS AND OIL 61,930.53
MISCELLANEOUS EXPENSE 5,078,650.17
INTEREST EXPENSE 6,460,304.54
OTHER ITEMS - 679,470.30
INCOME TAX EXPENSE -
TOTAL DEBITS 399,813,500.78
TOTAL CREDITS - 399,813,500.78
Checking -
I-PURPOSE COOPERATIVE

TRIAL BALANCE for the year 2023

ABC MULTI-PURPOSE COOPERATIVE
FOR THE PERIOD ENDED DECEMBER 31, 2023
INCOME STATEMENT

2023
SALES 46,813,719
COST OF SALES - 45,108,868
GROSS PROFIT 1,704,851
INCOME FROM CREDIT OPERATIONS 20,220,679
OTHER INCOME 2,541,366
TOTAL INCOME 24,466,896
ADMINISTRATIVE EXPENSES:
SALARIES AND OTHER BENEFITS - 6,502,551
SUPPLIES EXPENSE - 123,425
UTILITIES EXPENSE - 190,854
TRAVEL EXPENSE - 8,761
REPAIRS EXPENSE - 254,395
TAXES AND LICENSES - 15,044
PROFESSIONAL AND AUDIT FEES - 209,632
GENERAL ASSEMBLY EXPENSE - 395,024
TRAINING AND SEMINARS - 76,315
DEPRECIATION EXPENSE - 71,639
RETIREMENT EXPENSE - 100,000
GAS AND OIL - 61,931
MISCELLANEOUS EXPENSE - 5,078,650
TOTAL ADMINISTRATIVE COSTS - 13,088,219
FINANCE COST - 6,460,305
NET SURPLUS BEFORE OTHER ITEMS 4,918,372
OTHER ITEMS 679,470

NET SURPLUS DISTRIBUTABLE 5,597,843

DISTRIBUTION OF NET SURPLUS

Reserve fund 10% 559,784
CETF 5% 279,892
Due to union/federation 5% 279,892
Community Development Fund 3% 167,935
Optional Fund 7% 391,849
Interest on Share Capital 49% 2,742,943
Patronage Refund 21% 1,175,547

TOTAL 5,597,843
ABC MULTI-PURPOSE COOPERATIVE
FOR THE PERIOD ENDED DECEMBER 31, 2023
STATEMENT OF CHANGES IN MEMBERS' EQUITY

Share Capital Donations and Grants

Balance at December 31, 2022 59,611,486 8,800,736
Increase/(Decrease) for the year 4,343,016 - 326,693
Utilization for the period - -
Allocations for the period - -

Balance at December 31, 2023 63,954,502 8,474,043

 STATUTORY FUNDS
Coop. Education and Community
General Reserves Training Fund Development Fund Optional Fund
9,100,181 382,507 841,008 2,950,241
- - - -
- - 28,734 - 839,328 - 322,781
559,784 279,892 167,935 391,849

9,659,965 633,665 169,615 3,019,310

 TOTAL
81,686,158
4,016,323
- 1,190,843
1,399,461
-
85,911,100
ABC MULTI-PURPOSE COOPERATIVE
AS OF DECEMBER 31, 2023
STATEMENT OF FINANCIAL POSITION

2023
CURRENT ASSETS
CASH ON HAND 210,779
PETTY CASH FUND 15,000
CASH IN BANK 101,538,470
LOANS RECEIVABLE - net 156,415,743
ACCOUNTS RECEIVABLE 9,499,444
ADVANCES FROM OFFICERS/STAFF 53,740
OTHER CURRENT INVESTMENTS 19,024,611
MERCHANDISE INVENTORIES 6,261,609
OFFICE SUPPLIES 106,820
Total Current Assets 293,126,215

NON-CURRENT ASSETS
NON-CURRENT INVESTMENTS 4,795,343
OTHER FUNDS AND DEPOSITS 21,683,470
PROPERTY, PLANT AND EQUIPMENT - net 15,538,457
OTHER NON-CURRENT ASSETS 12,623
Total Non-Current Assets 42,029,894

TOTAL ASSETS 335,156,109

LIABILITIES AND EQUITY

CURRENT LIABILITIES
LOANS PAYABLE 241,695,696
ACCOUNTS AND OTHER PAYABLES 1,185,406
ACCRUED EXPENSES 38,309
DUE TO UNION/FEDERATION 627,467
INTEREST ON SHARE CAPITAL 2,742,943
PATRONAGE REFUND PAYABLE 1,175,547
Total Current Liabilities 247,465,369

NON-CURRENT LIABILITIES
RETIREMENT BENEFIT PAYABLE 594,281
OTHER NON-CURRENT LIABILITIES 1,185,359
Total Non-Current Liabilities 1,779,640

TOTAL LIABILITIES 249,245,009

EQUITY
SHARE CAPITAL 63,954,502
DONATIONS AND GRANTS 8,474,043
STATUTORY FUNDS 13,482,555
TOTAL EQUITY 85,911,100

TOTAL LIABILITIES AND EQUITY 335,156,109

ABC MULTI-PURPOSE COOPERATIVE
AS OF DECEMBER 31, 2023
STATEMENT OF CASH FLOWS

OPERATING ACTIVITIES
Cash inflows 56,964,869.00
Cash outflows - 6,303,540.97
Net cash generated in operating 50,661,328.03

INVESTING ACTIVITIES
Acquisition of property, plant and equipment - 1,144,411.00
Additional investments and funds - 3,579,605.00
Net cash used in investing - 4,724,016.00

FINANCING ACTIVITIES
Issurance of share capital 4,343,016.00
Payment of non-current liabilities - 22,000.00
Utilization of statutory funds - 1,190,842.54
Payment of share capital and patronage refund - 5,355,096.00
Net cash used in financing - 2,224,922.54

Net increase in cash 43,712,389.49

Cash, beginning 58,051,860.00

Cash, ending 101,764,249.49