i) Creation of employment opportunities
ii) Quick delivery of goods and services
iii) Increased production of goods and services
iv) Enhanced industrialization since raw material can be moved easily
v) Equitable development especially in the dry Ukambani region
vi) Wider market for goods and services
vii) Higher Government revenue
sharon kalunda answered the question on May 22, 2019 at 11:52
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Sales 50,000
Expenses 10% of sales
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Calculate:
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(iv) Net profit
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Record the above transactions in the relevant ledger accounts and balance the accounts on 31stJanuary 2014
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Prepare
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(a)...(Solved)
On June 1st 2015, Kelly had KSh. 6000 cash in hand and a bank overdraft of Sh. 2000; during the month the following transactions took.
(a) Received cheques from debtors totaling to KSh. 80,000 on June 2nd
(b) June 5th, paid telephone bills Sh. 1200 cash
(c) June 8th, withdrew Sh. 16000 from bank for office use.
Enter the above information in the two – column cash book given below and balance it off
Kelly Traders
Two – Column Cashbook
for the month of June 2015
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Enter each of the following transactions in the relevant ledger accounts
(a) Started business in June 15th 2014 with Ksh. 500,000 in bank.
(b) Bought a motor vehicle in June 16th 2014 for KSh. 250,000, payment made by a cheque.
(c) Withdrew Ksh. 50,000 in June 20th 2014 from the business bank a/c to be used in the office.
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Date posted: May 21, 2019. Answers (1)
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Date posted: May 21, 2019. Answers (1)
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The following diagram represents demand and supply of a product.
(a) State what is represented by curves
ap _____________________________
bq _____________________________
letter c _______________________
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General Stores on 31st December 2015.
Item ...(Solved)
The following balances were extracted from the books of Highlife
General Stores on 31st December 2015.
Item Ksh
Land and buildings 650,000
Stock 470,000
Bank overdraft 80,000
Debtors 350,000
10 year Bank Loan 500,000
Creditors 220,000
Cash 50,000
Motor Van 150,000
Capital ?
Required: Prepare the balance sheet of Highlife General Stores as at 31st
December 2015.
Date posted: May 8, 2019. Answers (1)
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250,000 at bank. During the month, the following transactions took place:
September 2 Cash sales...(Solved)
On 1st September 2015, Gondi had Ksh 55,000 in hand and Ksh
250,000 at bank. During the month, the following transactions took place:
September 2 Cash sales banked Ksh 35,260
3 Bought ribbons in cash Ksh 4,500
8 Paid Wangila, a creditor Ksh 94,000 by cheque in full settlement
of his account after deducting 6% cash discount
12 Received a cheque for Ksh 58,800 from Wetu after allowing her a
cash discount of Ksh 1,200
15 Paid salaries Ksh 34,000 in cash
25 Withdrew Ksh 50,000 from bank for office use
28 Anyango, a debtor paid her account of Ksh 75,000 by cheque less
10% - cash discount
30 Deposited all the cash into bank except Ksh 13,700
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Date posted: May 7, 2019. Answers (1)
- The following balances were extracted from the books of Rehema
Traders on 1st January 2015.
Ksh
Capital...(Solved)
The following balances were extracted from the books of Rehema
Traders on 1st January 2015.
Ksh
Capital 600,000
Creditors 180,000
Motor van 200,000
Furniture 200,000
Stock 60,000
Debtors 80,000
Cash 240,000
The following transactions took place during the year ended 31st December
2015:
(i) Sold furniture worth Ksh 60,000 for which Ksh 40,000 cash was received and the
balance was due at the end of the year.
(ii) Purchased goods worth Ksh 100,000 for which cash of Ksh 70,000 was paid and
the balance was still outstanding at the end of the year.
(iii) Cash Ksh 10,000 was taken from the business by the proprietor to settle the
spouse's hospital bill.
Required: Outline the effect of each transaction on the items of the balance
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Date posted: May 7, 2019. Answers (1)
- On 1st January 2015, Ndovu Traders had Ksh 30,000 in cash and
Ksh 75,000 at the bank.
During the month, the following transactions took place:
January 2: Bought...(Solved)
On 1st January 2015, Ndovu Traders had Ksh 30,000 in cash and
Ksh 75,000 at the bank.
During the month, the following transactions took place:
January 2: Bought goods in cash worth Ksh 15,500.
5: Received cash from Chui Ksh 23,750 after allowing 5% cash
discount.
8: Withdrew Ksh 8,900 from the bank for personal use.
11: Maro, a debtor settled her account of Ksh 16,800 by a cheque of Ksh
16,000.
15: Sales amounted to Ksh 24,250 in cash.
17: Paid Furaha traders Ksh 29,100 in cash in full settlement of their
account less
3% cash discount.
20: Withdrew Ksh 15,000 from the bank for business use.
22: Koko a debtor settled her account of Ksh 40,000 by cheque less 2.5%
cash discount.
25: Paid wages Ksh 21,000 cash
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Date posted: May 7, 2019. Answers (1)