Get premium membership and access questions with answers, video lessons as well as revision papers.
-Quantity Discounts
-Trade discounts
-Cash discounts
sharon kalunda answered the question on February 23, 2019 at 09:43
- On 1 March, 2001, mingy traders had Ksh. 13,200 in cash and bank balances of Sh56, 000. Thefollowing transaction took place during the month.2001 2 Cash...(Solved)
On 1 March, 2001, mingy traders had Ksh. 13,200 in cash and bank balances of Sh56, 000.The
following transaction took place during the month.
2001 2 Cash sales sh. 12,000
12 paid a creditor sh. 8,200
27 received a cheque for sh. 4,500 from debtors
31 paid rent 7,500 in cash
Record the above information in a two column cash book and balance it off.
Date posted: February 23, 2019. Answers (1)
- List the uses of two column cash book(Solved)
List the uses of two column cash book.
Date posted: February 23, 2019. Answers (1)
- What is cashbook?(Solved)
What is cashbook?
Date posted: February 23, 2019. Answers (1)
- List some Limitations of a trial balance.(Solved)
List some Limitations of a trial balance.
Date posted: February 23, 2019. Answers (1)
- Define a trial balance.(Solved)
Define a trial balance.
Date posted: February 23, 2019. Answers (1)
- Record the following transaction in the affected accounts and balance them off on 10th January 2015. (10mks)
2015
January 1: Start business with furniture worth Sh.130,000
2: Bought...(Solved)
Record the following transaction in the affected accounts and balance them off on 10th January 2015. (10mks)
2015
January 1: Start business with furniture worth Sh.130,000
2: Bought goods for Sh.50,000 on credit from Nyamwea.
4: Sold stock of goods for Sh.40,000 cash
5: Opened a bank account and deposited Sh.20,000 from cash till.
6: Obtained a loan from K.I.E Sh.30,000 by cheque.
7: Paid Nyamwea Sh.30.000 by cheque.
8 : Withdraw cash Sh.60,000 from bank for office use.
Date posted: February 23, 2019. Answers (1)
- The following table contains information relating to a business A, B, C, and D. Determine the figures represented by W, X and Y.(Solved)
The following table contains information relating to a business A, B, C, and D. Determine the figures represented by W, X and Y.
Date posted: February 23, 2019. Answers (1)
- State FIVE characteristics of a liability.(Solved)
State FIVE characteristics of a liability.
Date posted: February 23, 2019. Answers (1)
- Define Liabilities.(Solved)
Define Liabilities.
Date posted: February 23, 2019. Answers (1)
- What are the current assets?(Solved)
What are the current assets?
Date posted: February 22, 2019. Answers (1)
- Explain what is meant by the term fixed assets.(Solved)
Explain what is meant by the term fixed assets.
Date posted: February 22, 2019. Answers (1)
- Explain the following terms as used in business.
a.) Debtor
b)Creditors
c.) Goods
d.) Assets(Solved)
Explain the following terms as used in business.
a.) Debtor
b)Creditors
c.) Goods
d.) Assets
Date posted: February 22, 2019. Answers (1)
- State and explain Types of exchange rates.(Solved)
state and explain Types of exchange rates.
Date posted: February 22, 2019. Answers (1)
- List and explain methods of trade restriction(Solved)
List and explain methods of trade restriction.
Date posted: February 22, 2019. Answers (1)
- List the international financial institutions and describe their functions/objectives(Solved)
List the international financial institutions and describe their functions/objectives.
Date posted: February 20, 2019. Answers (1)
- The following balance sheet was prepared from the books of Makara traders.
(Solved)
The following balance sheet was prepared from the books of Makara traders.
Prepare Makara traders balance sheet as at the end of January 2012
Date posted: February 19, 2019. Answers (1)
- In the spaces provided, indicate with a (x) whether each of the following transactions will increase, decrease or have no effect in the balance sheet.(Solved)
Date posted: February 19, 2019. Answers (1)
- List the documents used in international trade,giving the meaning and the purpose/importance of each.(Solved)
List the documents used in international trade,giving the meaning and the purpose/importance of each.
Date posted: February 19, 2019. Answers (1)
- State and explain the common terms of sale in international trade.(Solved)
State and explain the common terms of sale in international trade.
Date posted: February 19, 2019. Answers (1)
- What is meant by the term terms of sale in international trade?(Solved)
What is meant by the term terms of sale in international trade?
Date posted: February 19, 2019. Answers (1)