On April 1, 2010 a co-operative society has 300 members each contributing 200 units of face value
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On April 1, 2010 a co-operative society has 300 members each contributing 200 units of face value ₹ 10 each. The bye-laws of the society provide that on account of redemption of units number of members shall not fall below 120 with each contributing minimum 200 units. On April 1, 2011 society makes an amendment in its bye-laws thereby increase all time minimum number of members to 200 with each contributing minimum 200 units. Show how these are to be recognized and reclassified.
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i On April 1 2010 total value of units is Rs 600000 60000 of 10 each out of which 24000 units 12...View the full answer
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