a). Rent Account Nominal Ledger
b). Discount received Account Nominal Ledger
c). Cash Account Cash book
d). Creditors Account Purchases ledger
Kavungya answered the question on June 4, 2019 at 06:47
- State the business environment described in the statements given below.(Solved)
State the business environment described in the statements given below.
Date posted: June 4, 2019. Answers (1)
- The following information was extracted from the books of Kisima wholesalers on 31st December, 2018.
(i) Opening stock sh. 300,000
(ii)...(Solved)
The following information was extracted from the books of Kisima wholesalers on 31st December, 2018.
(i) Opening stock sh. 300,000
(ii) Purchases sh. 1,550,000
(iii) Closing stock sh. 220,000
(iv) Margin 1/6
Required : Draw Kisima wholesalers trading account.
Date posted: June 4, 2019. Answers (1)
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For each of the transactions given below indicate the accounts to be debited and the account to be credited.
Date posted: June 4, 2019. Answers (1)
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Munyao an entrepreneur intends to start a business. Give four factors that he needs to consider when deciding on which goods to produce.
Date posted: June 4, 2019. Answers (1)
- Record the following transactions that took place in Otiende traders from 21st august to 24th August 2018 in the general journal. 201821st Aug: Bought...(Solved)
Record the following transactions that took place in Otiende traders from 21st august to 24th August 2018 in the general journal.
2018
21st Aug: Bought furniture from Lowoi furniture mart at Sh 60,000 on credit
22nd Aug: Sold an old machinery on credit to Muchina at Sh. 90,000
23rd Aug: Bought a lawn mower from Farm Machines on credit Sh. 80,000
24th Aug: Purchased a water tank worth Sh. 140,000 on credit from Kentank ltd
Date posted: June 4, 2019. Answers (1)
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State four items of information one can obtain from an insurance policy.
Date posted: June 4, 2019. Answers (1)
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Highlight four factors which may have led to a shift in the supply curve as illustrated below.
Date posted: June 4, 2019. Answers (1)
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market.(Solved)
Highlight four channels that a fish farmer may use to distribute her produce in a local
market.
Date posted: June 4, 2019. Answers (1)
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The following information relates to four businesses A, B, C and D. Fill in the missing figures.
Date posted: June 4, 2019. Answers (1)
- By aid of a diagram, outline the circular flow of income in a two sector economy.(Solved)
By aid of a diagram, outline the circular flow of income in a two sector economy.
Date posted: June 4, 2019. Answers (1)
- The cost of consumer goods in a basket of an average family is given below.
Year ...(Solved)
The cost of consumer goods in a basket of an average family is given below.
Year 2016 2017
Ksh Ksh
Maize flour 90 110
Sugar 100 115
Rice 80 90
Determine the consumer price index using 2016 as the base year.
Date posted: June 4, 2019. Answers (1)
- Draw a well labeled diagram to show the effect of increase in demand and increase in supply on
equilibrium point, equilibrium price and equilibrium quantity.(Solved)
Draw a well labeled diagram to show the effect of increase in demand and increase in supply on
equilibrium point, equilibrium price and equilibrium quantity.
Date posted: May 22, 2019. Answers (1)
- The following transactions were extracted from the books of Furaha retailers.
(Solved)
The following transactions were extracted from the books of Furaha retailers.
April 1.Balance brought forward cash ksh 1,900 cash at bank ksh. 6500.
April 3.Sold goods in cash ksh. 1,200.
April 5. Paid transport by cheque ksh. 2,050.
April 7.Bought goods worth ksh.2,500 in cash less 5% cash discount.
Apri l 10.Paid postage charges by cheque ksh.3,000.
April 12.Furaha deposited ksh.600 from cash till to the business bank account.
April 13.Bought goods ksh .8400 by cheque.
April 15. Sold some old furniture for ksh 3,900 and received the money by cash.
April 17.Brought a table to be used in the business whose value was ksh.1,800.
April 18.Paid electricity bill by cheque ksh.2,100.
April 20.Sold goods goods against a cheque for ksh.6,600 whose value was ksh.6,850.
April 21.Took cash ksh 400 for family use..
April 26.Sold goods on credit to Kamani valued at ksh 4,500.
April 28.Received cash ksh.1,500 from Bidii stores.
April 30.Deposited all cash with the bank except ksh.3,525.
Required to prepare a three column cash book duly balanced.
Date posted: May 22, 2019. Answers (1)
- Explain five documents used in home trade that are prepared by the buyer.(Solved)
Explain five documents used in home trade that are prepared by the buyer.
Date posted: May 22, 2019. Answers (1)
- The following information relates to Rose holdings for May 2015.
May 1.Sold goods to Garry at ksh. 660.
May 5.Bought goods from K.N.T.C for ksh. 7500.
May 10...(Solved)
The following information relates to Rose holdings for May 2015.
May 1.Sold goods to Garry at ksh. 660.
May 5.Bought goods from K.N.T.C for ksh. 7500.
May 10 Bought three office machines at ksh 2,500 each on credit from Fine elecronics.
May 15 Goods worth ksh.1,850 were sold to Jack on credit.
May 18 She sold old furniture on credit to Twiga motols at KSH. 1,500 whose book value was
ksh.1000.
Required.Record the above transactions in appropriate journals.
Date posted: May 22, 2019. Answers (1)
- The following balances were extracted from the books of Kasuku traders on 30th June 2018.
The following transactions took place in the month of July 2018.
July...(Solved)
The following balances were extracted from the books of Kasuku traders on 30th June 2018.
The following transactions took place in the month of July 2018.
July 10 Kasuku traders received ksh. 15,000 from a debtor by cheque.
July 15 Bought more furniture worth ksh. 2,500 and paid in cash.
July 20 Took goods worth 14,000 for home use.
Required.Prepare a balance sheet as at 30th July 2018.
Date posted: May 22, 2019. Answers (1)
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Mention the four elements of transport .
Date posted: May 22, 2019. Answers (1)
- State the kind of information recorded in the following ledger accounts
i. Sales Ledger
ii. Private Ledger
iii. Nominal Ledger
iv. Cash book(Solved)
State the kind of information recorded in the following ledger accounts
i. Sales Ledger
ii. Private Ledger
iii. Nominal Ledger
iv. Cash book
Date posted: May 22, 2019. Answers (1)
- 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)