The following trial balance was prepared by an incompetent book keeper thus failed to balance. Balance it.

      

The following trial balance was prepared by an incompetent book keeper thus failed to
balance. Balance it.

  

Answers

---

---

Kavungya answered the question on April 3, 2019 at 12:18

Next: The following information relates to Kebirigo Traders as at 31^st December, 2009 ...
Previous: You are a student of Ushindi High School. Your class has just finished reading „The Caucasian Chalk Circle? by Bertolt Bretch. They would like to perform...

View More Business Studies Questions and Answers | Return to Questions Index

Exams With Marking Schemes

• Grade 1
• Grade 2
• Grade 3
• Grade 4
• Grade 5
• Grade 6
• Grade 7
• Grade 8
• Grade 9
• PP1
• PP2
• Playgroup
• Form 1
• Form 2
• Form 3
• Form 4

Related Questions

---

• The following information relates to Kebirigo Traders as at 31^st December, 2009 ...(Solved)
  

  The following information relates to Kebirigo Traders as at 31^st December, 2009
  Kshs.
  Buildings 100,000
  Debtors 54,000
  Capital 136,000
  Sales 85,000
  Purchases 48,000
  Stock 1 Jan.2009 25,400
  Creditors 35,700
  General expenses 31,800
  Bank overdraft 2,500
  Prepare a trial balance as at 31^st December, 2009

  Date posted: April 3, 2019.  Answers (1)

• The following balances were extracted from the books of Nyatike Traders Limited as at 31st January 2010 Kshs. Discount...(Solved)
  

  The following balances were extracted from the books of Nyatike Traders Limited as at
  31st January 2010 Kshs.
  Discount allowed 5,000
  Buildings 250,000
  Return outwards 6,000
  Purchases 74,000
  Creditors 20,000
  Drawings 16,000
  Capital 319,000
  Required: Prepare Nyatike Traders Ltd trial balance as at that date

  Date posted: April 3, 2019.  Answers (1)

• Identify the situation in which the following types of ledgers are appropriate: i) Creditors ledger ii) Private ledgers iii) Normal ledger(Solved)
  

  Identify the situation in which the following types of ledgers are appropriate:
  i) Creditors ledger
  ii) Private ledgers
  iii) Normal ledger

  Date posted: April 3, 2019.  Answers (1)

• Prepare Betty’s trial balance from the following information Items ksh Purchases ...(Solved)
  

  Prepare Betty’s trial balance from the following information
  Items ksh
  Purchases 130,000
  Capital 150,000
  Sales 165,000
  Debtors 45,000
  Creditors 40,000
  Motor vehicles 120,000
  Stock 50,000
  Cash at bank 10,000

  Date posted: April 3, 2019.  Answers (1)

• The following information relates to Ogello traders as at 31st Dec 2009:- Capital (1-1-2009) kshs.100,000 Loss during the year ...(Solved)
  

  The following information relates to Ogello traders as at 31st Dec 2009:-
  Capital (1-1-2009) kshs.100,000
  Loss during the year kshs.40,000
  Investment kshs 35,000
  If the trader took goods worth kshs. 15,000 during the year for private use, calculate the capital of
  the business as at 31-12-2009

  Date posted: April 3, 2019.  Answers (1)

• Queen Traders had the following information extracted from her books of accounts as at 31st Dec 2009:- ...(Solved)
  

  Queen Traders had the following information extracted from her books of accounts as at
  31st Dec 2009:-
  Shs
  Capital (1/1/009) 3,400,000
  Additional capital 610,780
  Drawings for the year 25,220
  Capital (31/12/009) 4,900,000
  Determine the profit for the year.

  Date posted: April 3, 2019.  Answers (1)

• The following was obtained from the books of Wambui Mary for the ended 31^st December,2007 Drawings ...(Solved)
  

  The following was obtained from the books of Wambui Mary for the ended 31^st December,2007
  Drawings 82000
  Profit 170000
  Additional investment 58000
  Capital 1.1.2007 240000
  Calculate the of Mary Wambui as at 31^st Dec,2007

  Date posted: April 3, 2019.  Answers (1)

• The following balance sheet relates to Hamisi traders as at 1^st January 2008. Additional information:- - On 2^nd January 2008, Hamisi traders bought stock for cash at...(Solved)
  

  The following balance sheet relates to Hamisi traders as at 1^st January 2008.
  
  
  Additional information:-
  - On 2^nd January 2008, Hamisi traders bought stock for cash at Shs 36 000
  - On 10^th January 2008, a debtor paid shs 26 000 to Hamisi traders
  - On 13^th January 2008, Hamisi used his personal cash to buy equipment for shs 47 000 for
  the business
  Prepare Hamisi traders balance sheet as at 31^st January 2008.

  Date posted: April 3, 2019.  Answers (1)

• Okelo invested Kshs.120,000 into a business. At the end of the year, his capital was Kshs.160000 and his monthly drawing was Kshs.2000. Determine the net profit...(Solved)
  

  Okelo invested Kshs.120,000 into a business. At the end of the year, his capital was Kshs.160000
  and his monthly drawing was Kshs.2000. Determine the net profit for the year

  Date posted: April 3, 2019.  Answers (1)

• Show how the following transactions may affect the items of balance sheet, stating whether it is an increase , decrease or no effect(Solved)
  

  Show how the following transactions may affect the items of balance sheet, stating whether it is
  an increase , decrease or no effect
  
  

  Date posted: April 3, 2019.  Answers (1)

• The following balances relates to Onyonka traders as at 1^st Jan. 2010 The following transactions took place the same month:- Jan 2^nd debtors paid in cash shs.20,000. Jan....(Solved)
  

  The following balances relates to Onyonka traders as at 1^st Jan. 2010
  
  
  The following transactions took place the same month:-
  Jan 2^nd debtors paid in cash shs.20,000.
  Jan. 31^st sold stock worth shs.20,000 for Shs.25,000 by cheque
  Prepare a balance sheet as 31^st Jan. 2010

  Date posted: April 3, 2019.  Answers (1)

• Given below are transactions relating to Mwala traders. For each of the transactions, indicate in the column below the account to be debited and the account...(Solved)
  

  Given below are transactions relating to Mwala traders. For each of the transactions, indicate
  in the column below the account to be debited and the account to be credited
  
  

  Date posted: April 3, 2019.  Answers (1)

• Indicate the balance sheet items which would be affected by the following transactions (a) Purchase of a lawn mower by cheque (b) Sale of goods on credit...(Solved)
  

  Indicate the balance sheet items which would be affected by the following transactions
  (a) Purchase of a lawn mower by cheque
  (b) Sale of goods on credit to Mwangi
  (c) A debtor pays by cash
  (d) The owner converted his personal car into a business asset

  Date posted: April 3, 2019.  Answers (1)

• The proprietor of the sunrise dealer had ksh.13,730/= as capital as at 1^st January 2010. The following transactions took place. i) Sold goods worth ksh 3000/= for...(Solved)
  

  The proprietor of the sunrise dealer had ksh.13,730/= as capital as at 1^st January 2010.
  The following transactions took place.
  i) Sold goods worth ksh 3000/= for ksh.9000/=
  ii) Deposited ksh.50, 000/= from his personal savings
  If his capital as at 31^st January 2010 was kshs.62, 230/=, determine the value of drawings
  for the month of January 2010.

  Date posted: April 3, 2019.  Answers (1)

• The accounting period of Ochomo Traders ended on 30th June, 2008. The assets, liabilities and capital were as follows on their date : Capital ...(Solved)
  

  The accounting period of Ochomo Traders ended on 30th June, 2008. The assets, liabilities and
  capital were as follows on their date :
  Capital 51000
  Cash in hand 4000
  Stock 10000
  Furniture 7000
  Creditors 5000
  Long term loan 20000
  Premises 50000
  Debtors 2000
  Bicycle 3000
  
  Required: Prepare Ochomo traders balance sheet as at 30th June,2008

  Date posted: April 3, 2019.  Answers (1)

• Use the balance sheet equation to fill the missing figures in the table below(Solved)
  

  Use the balance sheet equation to fill the missing figures in the table below
  
  

  Date posted: April 3, 2019.  Answers (1)

• Asman Traders had the following information extracted from their books of accounts as at 31st June 2006 ...(Solved)
  

  Asman Traders had the following information extracted from their books of accounts as at 31st
  June 2006
  Shs.
  Capital (1st July 05) 3 500 000
  Additional investment 540 000
  Drawings for the year 25 200
  Capital (31st June 06) 6 000 000
  Determine the profit for the year

  Date posted: April 3, 2019.  Answers (1)

• The following relates to Katiba traders as at 31st April 2010 ...(Solved)
  

  The following relates to Katiba traders as at 31st April 2010
  Kshs.
  Capital 600,000
  Motor van 280,000
  Furniture 80,000
  Current assets ?
  Current liabilities 50,000
  Prepare Katiba’s balance sheet

  Date posted: April 3, 2019.  Answers (1)

• The table below shows a change in population size in country X for a period of four years Year ...(Solved)
  

  The table below shows a change in population size in country X for a period of four
  years
  Year Total population
  (000 000)
  2001 40
  2002 26
  2003 13
  2004 9
  Give four reasons to account for this trend

  Date posted: April 3, 2019.  Answers (1)

• Explain the following terms as used in business i) Census ii) Unemployment iii) Mortality... iv) Optimum population.(Solved)
  

  Explain the following terms as used in business
  i) Census
  ii) Unemployment
  iii) Mortality...
  iv) Optimum population.

  Date posted: April 3, 2019.  Answers (1)