The following information was obtained from Lang’at’s farm records for the year ending
December, 2004. Study it and answer the questions that follow:-(Solved)
The following information was obtained from Lang’at’s farm records for the year ending
December, 2004. Study it and answer the questions that follow:-
Goats 4,000
Poultry 15,000
Causal workers 12,000
Opening valuation 150,000
His sales and receipts are as follows:
Mohair 75,000
Rabbits 3,600
Eggs to hotel 15,000
Closing valuation 200,000
(a) Prepare the profit and loss A/C of Lang’at’s farm
(b) State the benefit of a profit and loss A/C to Mr. Lang’at
Date posted: April 15, 2019. Answers (1)
List any two financial statements which may be prepared on a farm(Solved)
List any two financial statements which may be prepared on a farm
Date posted: April 15, 2019. Answers (1)
At the end year ended 31/12/2005 Bidii farm recorded the following:(Solved)
At the end year ended 31/12/2005 Bidii farm recorded the following:
Perennial crops 250,000
Bank loans 30,000
Cash at hand 5,000
Bank overdrafts 15,000
Land 350,000
Unpaid wages 3,000
Debts receivable 20,000
Stocks in store 25,000
Livestock 200,000
Bank balances 100,000
(a) Prepare a balance sheet as at 31/12/2005
(b) Did Bidii farm qualify for a loan and why?
Date posted: April 15, 2019. Answers (1)
The following transactions were extracted from Mr. Tembo’s financial books for the year ending 31st Dec 2003.study and answer the questions that follow:
(Solved)
The following transactions were extracted from Mr. Tembo’s financial books for the year ending 31st Dec 2003.study and answer the questions that follow:
i) Prepare a profit and loss account for Mr. Tembo’s farm for the year ending 31st Dec. 2003
ii) Calculate the percentage profit or loss made by the farm
Date posted: April 15, 2019. Answers (1)