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i) Sales ledger – Records all credit sales of a business
ii) Private ledger – Records owners capital and drawing / exclusively used by owner(s)
iii) Nominal ledger – Maintains revenue and expense accounts such as sales and
i. Purchases
iv) Cash book – Contains cash and Bank accounts
sharon kalunda answered the question on May 22, 2019 at 12:07
- Muriuki prepared a trial balance for his business but it failed to balance. Help
him prepare a correct one(Solved)
Muriuki prepared a trial balance for his business but it failed to balance. Help
him prepare a correct one
Date posted: May 22, 2019. Answers (1)
- The following information was obtained from Wamwangi traders as at 31st December 2018
Prepare Wamwangi’s trading account for the year ended 31/12/2018(Solved)
The following information was obtained from Wamwangi traders as at 31st December 2018
Required
Prepare Wamwangi’s trading account for the year ended 31/12/2018
Date posted: May 22, 2019. Answers (1)
- For each of the transaction state the account to be debited and the account to
be credited(Solved)
For each of the transaction state the account to be debited and the account to
be credited
Date posted: May 22, 2019. Answers (1)
- Identify the source documents into which the following information would
be recorded(Solved)
Identify the source documents into which the following information would
be recorded
Date posted: May 22, 2019. Answers (1)
- Name four documents required by the registrar of companies in order to
register a Public Limited Company(Solved)
Name four documents required by the registrar of companies in order to
register a Public Limited Company
Date posted: May 22, 2019. Answers (1)
- State four benefits that Kenya will derive from the completion of Standard
gauge railway (SGR)(Solved)
State four benefits that Kenya will derive from the completion of Standard gauge railway (SGR)
Date posted: May 22, 2019. Answers (1)
- State four ways in which human resource can positively influence the
internal environment of a business(Solved)
State four ways in which human resource can positively influence the
internal environment of a business
Date posted: May 22, 2019. Answers (1)
- Below is a diagram of demand and supply curve
Highlight four factors that may have led to the above behavior(Solved)
Below is a diagram of demand and supply curve
Highlight four factors that may have led to the above behavior
Date posted: May 22, 2019. Answers (1)
- Outline four ways in which utility of a good is created in production(Solved)
Outline four ways in which utility of a good is created in production
Date posted: May 22, 2019. Answers (1)
- The following balances relates to the retail business of Omondi for the month of July 2012.(Solved)
The following balances relates to the retail business of Omondi for the month of July 2012.
Sales 50,000
Expenses 10% of sales
Cost of goods sold 40,000
Calculate:
(i) Mark up. (1 mark)
(ii) Margin. (1 mark)
(iii) Total expenses. (1 mark)
(iv) Net profit
Date posted: May 21, 2019. Answers (1)
- Outline four features of direct production.(Solved)
Outline four features of direct production.
Date posted: May 21, 2019. Answers (1)
- Kiganjo Traders had the following balances as at 31st December, 2014(Solved)
Kiganjo Traders had the following balances as at 31st December, 2014
Determine the profit for the year.
Date posted: May 21, 2019. Answers (1)
- State the best type of machine one would use to perform the following tasks.(Solved)
State the best type of machine one would use to perform the following tasks.
Date posted: May 21, 2019. Answers (1)
- The accounts of Hakuna Matata Traders showed the following balances on 1st January 2014(Solved)
The accounts of Hakuna Matata Traders showed the following balances on 1st January 2014
Required:
Record the above transactions in the relevant ledger accounts and balance the accounts on 31stJanuary 2014
Date posted: May 21, 2019. Answers (1)
- The following balances were extracted from books of Masaku Traders for the year ended 31/12/2004(Solved)
The following balances were extracted from books of Masaku Traders for the year ended 31/12/2004
Prepare
(i) Profit and loss a/c for the year ended 31/12/2004
Date posted: May 21, 2019. Answers (1)
- 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)...(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
Date posted: May 21, 2019. Answers (1)
- Enter each of the following transactions in the relevant ledger accounts(Solved)
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.
(d) June 24th, 2014, paid salaries Ksh. 18,000 cash.
Date posted: May 21, 2019. Answers (1)
- The following balances were obtained from the books of Jomba Traders as at 30th July 2014(Solved)
The following balances were obtained from the books of Jomba Traders as at 30th July 2014
Calculate
(a) Cost of goods sold
(b) Rate of stock turnover
Date posted: May 21, 2019. Answers (1)
- In the spaces provided below, indicate with a tick whether each of the following statements relates to preference or ordinary shares(Solved)
In the spaces provided below, indicate with a tick whether each of the following statements relates to preference or ordinary shares
Date posted: May 21, 2019. Answers (1)
- State the factor of production that each of the following resources relate to:-(Solved)
State the factor of production that each of the following resources relate to:-
Date posted: May 21, 2019. Answers (1)