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This is a financial institution established by the government to guide and control other commercial banks and provide banking services to the state.
Its functions include:
• Issue of currency (notes and coins)
• Supervision of banks and other financial institutions
• It is the bankers’ bank (lender of last resort)
• Government’s bank
• Represents the country in international monetary meetings.
maalimA answered the question on March 28, 2019 at 13:50
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Sales 800,000
Expenses 10,000
Commission received 15,000
Purchases 700,000
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Margin 20%
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Balance sheet as at 31st December 2000
a) Sales during the year...(Solved)
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Bambu Traders
Balance sheet as at 31st December 2000
a) Sales during the year amounted to Kshs 2,000,000
b) Stock on 1 January 2000 was Kshs. 100,000
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Date posted: March 27, 2019. Answers (1)
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year ended 31st March 2001
Gross profit 186,200
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Gross profit 186,200
Carriage outwards 13,500
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Office expenses 19,600
Salaries 57,000
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Date posted: March 27, 2019. Answers (1)
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Jan 1 started business with Kshs. 20,000 in cash
Deposited 15,000 from cash till...(Solved)
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Jan 1 started business with Kshs. 20,000 in cash
Deposited 15,000 from cash till into a business Bank account
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Bought furniture by cheque sh 3,000
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Cost of goods sold 280,000
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Date posted: March 27, 2019. Answers (1)
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Additional information
a) during the year the owner converted her private car worth 90,000 for business...(Solved)
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Additional information
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c) Net profit for the year was sh 140,000
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Date posted: March 27, 2019. Answers (1)
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Opening stock 8,000
Purchases bank 53,000
Sales 62,900
Return outwards 2,700
Closing stock 12,700
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Capital 1.198 250,000
Additional...(Solved)
The following information relates to Mali traders for the year ended 31st Dec 1998.
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Drawing 92,000
Profit 180,000
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Date posted: March 27, 2019. Answers (1)
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1998
Cost of goods sold 65,000
General expenses ...(Solved)
The following information was extracted from the books of Peshau Traders as at April
1998
Cost of goods sold 65,000
General expenses 280,000
Capital for the period was 20% 10,000
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Date posted: March 27, 2019. Answers (1)
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on 30th June 1997.
Opening stock 65,000
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The following account balances were extracted from the books of Kiboko enterprises
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Opening stock 65,000
Sales 280,000
Purchases 190,000
Purchases returns 10,000
Sales returns 4,200
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Gross profit 130,800
Carriage of...(Solved)
The following information was extracted from the books of Kwaso traders on 31st August 1997.
Gross profit 130,800
Carriage of sales 4,700
Commission received 8,000
General expenses 18,200
Insurance 4,000
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Cash 20, 520
Bank ...(Solved)
The following balances were extracted from the books of Waso traders on 30th October 1995.
Cash 20, 520
Bank 160,230
Premises 800,000
Debtors 40,000
Creditors 62,000
2 year loan 40,000
Stock 2,500
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Date posted: March 27, 2019. Answers (1)
- During the month of July 1995 Kungu made sales worth Kshs.60,000. His margin on sales was 20%, calculate;
a) The cost of goods sold
b) The gross...(Solved)
During the month of July 1995 Kungu made sales worth Kshs.60,000. His margin on sales was 20%, calculate;
a) The cost of goods sold
b) The gross profit
Date posted: March 27, 2019. Answers (1)
- The following account balances were extracted from the books of Kitu traders on 30th
November 1995
Machinery 250,000
Debtor ...(Solved)
The following account balances were extracted from the books of Kitu traders on 30th
November 1995
Machinery 250,000
Debtor 62,000
Creditors 46,000
Stock 12,680
Cash in hand 1,500
Cash at bank 15,000
Determine the capital as at 30th November 1995
Date posted: March 27, 2019. Answers (1)