- The heading should be written as it is in trial balance with the words balance sheet and
the dates stated as at a particular date.
- Identity the assets and liabilities in the trial balance.
- Record the assets and liabilities on opposite sides of the balance sheet.
- Balance off the two sides Dr and Cr of the balance sheet.
Kavungya answered the question on April 1, 2019 at 13:21
- State the type of unemployment described by each of the following statements. (4 marks )
(a) A person has absolutely nothing to do
(b) A worker does...(Solved)
State the type of unemployment described by each of the following statements. (4 marks )
(a) A person has absolutely nothing to do
(b) A worker does not have specific skills and loses the job when the contract between
him and the employer ends
(c ) The number of people employed exceeds those that are required.
(d)Caused by seasonal variations such that during peak period, there is high demand for labour
and during off peak period, the demand for labour goes down.
Date posted: April 1, 2019. Answers (1)
- On 1st April, 2012 Katunge received an invoice for Kshs. 30,000. Terms of payment were:
Trade discount 5% and cash discount 10%. If payment is made...(Solved)
On 1st April, 2012 Katunge received an invoice for Kshs. 30,000. Terms of payment were:
Trade discount 5% and cash discount 10%. If payment is made within 30 days.
Determine the amount paid if payment was made on 26th April 2012.
Date posted: April 1, 2019. Answers (1)
- Outline four demerits of modern communication technology.(Solved)
Outline four demerits of modern communication technology.
Date posted: April 1, 2019. Answers (1)
- Explain four external economies of scale that an industry may experience.(Solved)
Explain four external economies of scale that an industry may experience.
Date posted: April 1, 2019. Answers (1)
- Explain five reasons why a producer would prefer to use radio than newspapers to advertise
his products.(Solved)
Explain five reasons why a producer would prefer to use radio than newspapers to advertise
his products.
Date posted: April 1, 2019. Answers (1)
- Outline five benefits that may accrue to the Kenyan economy due to privatization of
state firms.(Solved)
Outline five benefits that may accrue to the Kenyan economy due to privatization of
state firms.
Date posted: April 1, 2019. Answers (1)
- Masai traders maintains a petty cash imprest of sh 12,000 per week. On 31st March 2005,
they had a balance of sh 2130 in hand and...(Solved)
Masai traders maintains a petty cash imprest of sh 12,000 per week. On 31st March 2005,
they had a balance of sh 2130 in hand and was given cash to restore the imprest.
The following transactions took place during the first week of April 2005.
2005
April 2 - Bought stamps for sh 150 and paid wages sh 1000
3 - Bought 5 reams of duplicating paper at sh 230 each
4 - Paid taxi fare sh 500
5 - Paid wages sh 1000 and bought envelopes for sh 200
6 - Bought coffee for staff sh 300 and paid a water bill sh 550
7 - Paid for office machine repairs sh 200 and bought stamps sh 150.
Required:
Prepare a petty cashbook using the following analysis columns:-
Wages, Travelling, Stationery, Postage and Miscellaneous.
Date posted: April 1, 2019. Answers (1)
- Outline five reasons why the Kenya government is encouraging new investors to
locate firms in all parts of the country.(Solved)
Outline five reasons why the Kenya government is encouraging new investors to
locate firms in all parts of the country.
Date posted: April 1, 2019. Answers (1)
- State four measures a country can adopt to control imports.(Solved)
State four measures a country can adopt to control imports.
Date posted: April 1, 2019. Answers (1)
- Highlight four disadvantages of a public company.(Solved)
Highlight four disadvantages of a public company.
Date posted: April 1, 2019. Answers (1)
- State four activities that may trigger inflation in a country.(Solved)
State four activities that may trigger inflation in a country.
Date posted: April 1, 2019. Answers (1)
- Highlight five reasons why many African countries fail to achieve high economic
growth rate.(Solved)
Highlight five reasons why many African countries fail to achieve high economic
growth rate.
Date posted: April 1, 2019. Answers (1)
- Distinguish in four ways direct taxation from indirect taxation.(Solved)
Distinguish in four ways direct taxation from indirect taxation.
Date posted: April 1, 2019. Answers (1)
- State four ways how the mobile phone services are important in promoting business
activities.(Solved)
State four ways how the mobile phone services are important in promoting business
activities.
Date posted: April 1, 2019. Answers (1)
- Highlight four factors to be considered in determining the sum insured in the life insurance.(Solved)
Highlight four factors to be considered in determining the sum insured in the life insurance.
Date posted: April 1, 2019. Answers (1)
- The following information was extracted from the books of Misikhu traders
Rate of Turnover 3 times
Mark up ...(Solved)
The following information was extracted from the books of Misikhu traders
Rate of Turnover 3 times
Mark up 20%
Opening stock shs90,000
Closing stock shs150,000
Calculate
(a) Gross profit
(b) Purchases
(c) Sales
Date posted: April 1, 2019. Answers (1)
- Mr. Muriuki, a newly employed teacher intends to join a Mwalimu Sacco. Outline four
benefits to expect(Solved)
Mr. Muriuki, a newly employed teacher intends to join a Mwalimu Sacco. Outline four
benefits to expect
Date posted: April 1, 2019. Answers (1)
- State four disadvantages of hire purchase to the buyer.(Solved)
State four disadvantages of hire purchase to the buyer.
Date posted: April 1, 2019. Answers (1)
- List four disadvantages of under population(Solved)
List four disadvantages of under population
Date posted: April 1, 2019. Answers (1)
- Prepare a corrected balance sheet from the following(Solved)
Prepare a corrected balance sheet from the following
Date posted: April 1, 2019. Answers (1)