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- Commission is charged
- Unsuitable for small amounts/values
- Payments may not be acceptable in certain areas e.g. transport, retail outlets
- May be forged
- Crossed cheques takes time to be cashed hence unsuitable where money is urgently required
Kavungya answered the question on April 1, 2019 at 07:56
- Distinguish in four ways the Jua kali sector from the manufacturing sector.(Solved)
Distinguish in four ways the Jua kali sector from the manufacturing sector.
Date posted: April 1, 2019. Answers (1)
- Highlight four factors that are causing many firms to collapse(Solved)
Highlight four factors that are causing many firms to collapse
Date posted: April 1, 2019. Answers (1)
- State why you will advice an office manager to use an open office layout instead of an enclosed office layout(Solved)
State why you will advice an office manager to use an open office layout instead of an enclosed office layout
Date posted: March 29, 2019. Answers (1)
- State ways in which landscape office layout can be created(Solved)
State ways in which landscape office layout can be created
Date posted: March 29, 2019. Answers (1)
- State and explain the main reasons why businesses exists.(Solved)
State and explain the main reasons why businesses exists.
Date posted: March 29, 2019. Answers (1)
- Highlight four methods that are used by monopolistic firms to differentiate its products. (Solved)
Highlight four methods that are used by monopolistic firms to differentiate its products.
Date posted: March 28, 2019. Answers (1)
- Explain the term credit creation as practised by commercial banks. (Solved)
Explain the term credit creation as practised by commercial banks.
Date posted: March 28, 2019. Answers (1)
- Define the term central bank(Solved)
Define the term central bank
Date posted: March 28, 2019. Answers (1)
- Outline the advantages of running a fixed deposit account to an account holder(Solved)
Outline the advantages of running a fixed deposit account to an account holder
Date posted: March 28, 2019. Answers (1)
- Highlight the factors that influence the supply of money in circulation. (Solved)
Highlight the factors that influence the supply of money in circulation.
Date posted: March 28, 2019. Answers (1)
- Outline the adverse effects of high taxation (Solved)
Outline the adverse effects of high taxation
Date posted: March 28, 2019. Answers (1)
- Ayub's capital at the beginning of the trading period was sh.300000. During the year he invested additional capital of sh.26000 in form of cash. He...(Solved)
Ayub's capital at the beginning of the trading period was sh.300000. During the year he invested additional capital of sh.26000 in form of cash. He also took sh.40000 in cash and stock valued at sh.25000 from the business for his personal use
Determine Ayub's capital at the end of the trading period
Date posted: March 28, 2019. Answers (1)
- The following information refers to tea traders for the year ended 31/12/04
Sales ...(Solved)
The following information refers to tea traders for the year ended 31/12/04
Sales 800,000
Expenses 10,000
Commission received 15,000
Purchases 700,000
Opening stock 250,000
Margin 20%
Prepare trading, profit & loss a/c for the year ended 31/12/04
Date posted: March 27, 2019. Answers (1)
- The following is a balance sheet of Bambu traders as at 31st December 2000
Bambu Traders
Balance sheet as at 31st December 2000
a) Sales during the year...(Solved)
The following is a balance sheet of Bambu traders as at 31st December 2000
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
c) Gross profit margin was 20%
Calculate
i) Current ratio
ii) Gross profit mark up
iii) Rate of stock turnover
Date posted: March 27, 2019. Answers (1)
- The following balances were extracted from the books of Vuno Traders for the
year ended 31st March 2001
Gross profit 186,200
Carriage...(Solved)
The following balances were extracted from the books of Vuno Traders for the
year ended 31st March 2001
Gross profit 186,200
Carriage outwards 13,500
Rent received 34,300
Office expenses 19,600
Salaries 57,000
Prepare a profit and loss for the year ended 31st March 2001
Date posted: March 27, 2019. Answers (1)
- The following transactions relates to Tajira Traders for the month of January 2001
Jan 1 started business with Kshs. 20,000 in cash
Deposited 15,000 from cash till...(Solved)
The following transactions relates to Tajira Traders for the month of January 2001
Jan 1 started business with Kshs. 20,000 in cash
Deposited 15,000 from cash till into a business Bank account
Bought goods on credit from Wema traders for 6,000
Bought furniture by cheque sh 3,000
Prepare a balance sheet as at 31st January 2001
Date posted: March 27, 2019. Answers (1)
- The following figures obtained from the records of Buka Enterprises for the year ended 30th June 2000
Sales 500,000
Cost...(Solved)
The following figures obtained from the records of Buka Enterprises for the year ended 30th June 2000
Sales 500,000
Cost of goods sold 280,000
Calculate the gross margin.
Date posted: March 27, 2019. Answers (1)
- Cumvi Traders had a capital of sh 180,000 as at 31.12.1998
Additional information
a) during the year the owner converted her private car worth 90,000 for business...(Solved)
Cumvi Traders had a capital of sh 180,000 as at 31.12.1998
Additional information
a) during the year the owner converted her private car worth 90,000 for business use
b) Goods worth sh. 50,000 were taken from the business for her own use
c) Net profit for the year was sh 140,000
Calculate capital as at 31 Dec. 1999
Date posted: March 27, 2019. Answers (1)
- The following balances were obtained from the books of Rah traders
Opening stock 50,000
Sales 360,000
Gross...(Solved)
The following balances were obtained from the books of Rah traders
Opening stock 50,000
Sales 360,000
Gross profit 25% of sales
Closing stock 70,000
Calculate
a) Cost of goods
b) Rate of stock turnover
Date posted: March 27, 2019. Answers (1)
- The following information was obtained from the books of Kina Traders on 30th June 1998
Opening stock 8,000
Purchases bank ...(Solved)
The following information was obtained from the books of Kina Traders on 30th June 1998
Opening stock 8,000
Purchases bank 53,000
Sales 62,900
Return outwards 2,700
Closing stock 12,700
Prepare Kina Traders balance a/c for the year ended 30th June 1998
Date posted: March 27, 2019. Answers (1)