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- The following transactions relate to the books of kilimo holdings. Record them in the relevant ledger accounts.
(i) 1st January 2015, took a loan with ICDC...(Solved)
The following transactions relate to the books of kilimo holdings. Record them in the relevant ledger accounts.
(i) 1st January 2015, took a loan with ICDC of kshs. 50,000 receiving by cheque.
(ii) 5th January 2015, kelunyo, a debtor paid his account of kshs. 40,000 in cash.
(iii) 10th January 2015, took money from bank, kshs. 50,000 for office use
(iv) 12th January 2015, bought furniture kshs. 35,500 in cash
Date posted: September 2, 2019. Answers (1)
- List three withdrawals in the circular flow of income.(Solved)
List three withdrawals in the circular flow of income.
Date posted: September 2, 2019. Answers (1)
- The National Transport Safety Authority (NTSA) is a department within the transport sector in Kenya. Highlight four benefits Kenyans enjoy due to the establishment of...(Solved)
The National Transport Safety Authority (NTSA) is a department within the transport sector in Kenya. Highlight four benefits Kenyans enjoy due to the establishment of NTSA
Date posted: September 2, 2019. Answers (1)
- The following transactions relate to the books of Amina traders as at 31st December 2015.(Solved)
The following transactions relate to the books of Amina traders as at 31st December 2015.
Gross profit ......................................................................... 20,000
Commission allowed .............................................................................. 200
Carriage on sales ............................................................................ 4,000
Discount received ............................................................................ 8,000
Salaries ...................................................................................... 6,000
Rent .......................................................................................... 2,000
Discount received .............................................................................. 400
Commission received ............................................................................. 1,500
Interest on bank loan .............................................................................. 500
Prepare Amina‘s profit and loss account for the period ended 31st December, 2015.
Date posted: September 2, 2019. Answers (1)
- For each of the following transactions, indicate the effect of each transaction on the balance sheet items as either increase, decrease or no change.(Solved)
For each of the following transactions, indicate the effect of each transaction on the balance sheet items as either increase, decrease or no change.
Date posted: September 2, 2019. Answers (1)
- Highlight four ways that may be used by a monopoly to differentiate a product market(Solved)
Highlight four ways that may be used by a monopoly to differentiate a product market
Date posted: September 2, 2019. Answers (1)
- Distinguish between
a) Derived demand and joint demand
b) Shift and movement along demand curve(Solved)
Distinguish between
a) Derived demand and joint demand
b) Shift and movement along demand curve
Date posted: September 2, 2019. Answers (1)
- Outline four ways the economic environment influence business activities(Solved)
Outline four ways the economic environment influence business activities
Date posted: September 2, 2019. Answers (1)
- The following balances were extracted from the books of Kipchoge as at 31st Dec, 2014
...(Solved)
The following balances were extracted from the books of Kipchoge as at 31st Dec, 2014
Shs.
Capital 30,000
Bank 3,400
Cash 2,700
Discount received 200
Drawings 300
Land 6,000
Furniture & Fittings 19,000
Sales 4,500
Prepare a correct trial balance as at 31st Dec 2014.
Date posted: September 2, 2019. Answers (1)
- For each of the following statements, give the type of unemployment described.(Solved)
For each of the following statements, give the type of unemployment described.
Date posted: September 2, 2019. Answers (1)
- Show the effect of each of the following transactions to capital, liabilities and assets indicating whether it is an increase (+) a decrease (-) or...(Solved)
Show the effect of each of the following transactions to capital, liabilities and assets indicating whether it is an increase (+) a decrease (-) or a nil (0) .
Date posted: September 2, 2019. Answers (1)
- The table below contains descriptions relating to some type of warehouse. In the space provided, write the type of warehouse to which each description refers.(Solved)
The table below contains descriptions relating to some type of warehouse. In the space provided, write the type of warehouse to which each description refers.
Date posted: September 2, 2019. Answers (1)
- In the spaces provided below, state the document to which each of the following statement relate.(Solved)
In the spaces provided below, state the document to which each of the following statement relate.
Date posted: September 2, 2019. Answers (1)
- The diagram below shows supply curves of two producers in different countries but of the same product. Highlight four reasons why producer Y supplies more...(Solved)
The diagram below shows supply curves of two producers in different countries but of the same product.
Highlight four reasons why producer Y supplies more than producer X at the same price.
Date posted: September 2, 2019. Answers (1)
- State the book of original entry used in recording each of the following transaction of Mrembo Traders.(Solved)
State the book of original entry used in recording each of the following transaction of Mrembo Traders.
Date posted: September 2, 2019. Answers (1)
- The cost of consumer goods for a representatives of a household is given below:
Year ...(Solved)
The cost of consumer goods for a representatives of a household is given below:
Year Price
2010 5000
2011 9000
Determine the increase in consumer price index using 2010 as the base year.
Date posted: September 2, 2019. Answers (1)
- Study the ledger accounts given below and write out the transactions that took place affecting the business of Huruma Ltd in January 2008.(Solved)
Study the ledger accounts given below and write out the transactions that took place affecting the business of Huruma Ltd in January 2008.
Date posted: September 2, 2019. Answers (1)
- The following balances were extracted from Mwangaza traders books of accounts.
...(Solved)
The following balances were extracted from Mwangaza traders books of accounts.
Shs.
Opening stock 25,000
Closing stock 35,000
Purchases 190,000
Mark - up 20%
Calculate:
i) Cost of sales
ii) Gross profit
iii) Sales
iv) Rate of stock turnover (ROSTO)
Date posted: September 2, 2019. Answers (1)
- Explain five reasons that contribute to low tax revenue by the government through Kenya RevenueAuthority.(Solved)
Explain five reasons that contribute to low tax revenue by the government through Kenya RevenueAuthority.
Date posted: September 2, 2019. Answers (1)
- The following balances relate to Maendeleo Electrical Enterprise as at 31st December, 2014.
...(Solved)
The following balances relate to Maendeleo Electrical Enterprise as at 31st December, 2014.
Sh.
Machinery 1,240,000
Stock 190,000
Debtors 150,000
Motor vehicle 1,100,000
Cash- in- hand 150,000
Creditors 270,000
Bank overdraft 130,000
10 year bank loan 1,200,000
Capital 1,660,000
Drawings 750,000
Net profit 320,000
Required:
Prepare a balance sheet as at 31st December, 2014 clearly showing:
i) Net capital
ii) Total current liabilities
iii) Total current assets
Date posted: September 2, 2019. Answers (1)