-The loss may affect many people at a go
-The value of the loss may not easily be determined
-The loss is unpredictable
-There might be very few people willing to be involved to form a pool
-It may not be easy to determine premiums to be paid
-The possibility of the risk occurring is certain.
sharon kalunda answered the question on September 3, 2019 at 07:22
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Describe the transactions which took place on the...(Solved)
The following is a cash book that was extracted from Manyatta traders for the month of February 2009.
Describe the transactions which took place on the dates given below.
i) February 1
ii) February 12
iii) February 15
iv)February 26
Date posted: September 3, 2019. Answers (1)
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Date posted: September 2, 2019. Answers (1)
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Date posted: September 2, 2019. Answers (1)
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In the table below classify the accounts as personal, nominal, real or private.
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Machinery
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Date posted: September 2, 2019. Answers (1)
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Date posted: September 2, 2019. Answers (1)
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The table below shows prices and quantity of a crate of tomatoes supplied at Kapsabet Market for the last quarter of year 2015.
Explain five factors that may have led to the change in quantities supplied.
Date posted: September 2, 2019. Answers (1)
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Closing stock was valued at shs. 55,000 while...(Solved)
The following trial balance was extracted from the Books of Nandi Hills Enterprises for the year ended 31/12/2014.
Closing stock was valued at shs. 55,000 while depreciation on motor vehicles was shs. 15,000.
Required:
(i) Trading, Profit and Loss Account for the year ended 31st December 2014.
(ii) Balance Sheet as at 31st December 2014.
Date posted: September 2, 2019. Answers (1)
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Outline five circumstances that would make a person prefer a taxi rather than a matatu.
Date posted: September 2, 2019. Answers (1)
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Mrs. Baraka, a trader had the following cash transactions starting 1st January 2016.
Jan 1 Balance b/d cash 5,000 bank 15,000
2 Bought goods for sale and paid by cheque 4,000
9 Paid insurance 150 cash
12 Received 250 cash from Mr. Kibet
14 Deposited 1,000 in the bank
16 Received by cheque 2,000 from Mchana
20 With drew 7,500 from bank for office use.
23 Paid wages 900 by cheque.
26 Received payment of 7,500 cheque from Joy Enterprises after allowing discount of shs. 100
28 Paid electricity 3,000 cash
30 Paid water 1,500 in cash
31 Settled Korir Traders account of sh. 2,250 and received a 10% discount.
Enter the above transactions in a three-column cashbook.
Date posted: September 2, 2019. Answers (1)
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Prepare Nyangores Traders Balance Sheet as at December 2000.
Date posted: September 2, 2019. Answers (1)
- Read the following transactions and state the accounts to be debited or credited.
(i) Started business with sh. 50,000 in cash.
(ii) Sold goods worth sh....(Solved)
Read the following transactions and state the accounts to be debited or credited.
(i) Started business with sh. 50,000 in cash.
(ii) Sold goods worth sh. 30,000 receiving a cheque.
(iii) A debtor, Onyango returned goods to the business worth sh. 5,000.
(iv) Withdrew sh. 20,000 from the bank for business use.
Date posted: September 2, 2019. Answers (1)
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Date posted: September 2, 2019. Answers (1)
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Mention four factors that may have caused the Demand curve to shift to the right.
Date posted: September 2, 2019. Answers (1)
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State four differences between subsistence production and large-scale production.
Date posted: September 2, 2019. Answers (1)
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The following trial balance was extracted from the ledgers of Baraka Traders for the year ended 31st December 2015.
On 31st December 2015, the business had closing stock valued at Shs. 60,000.
Required:
(i) The Trading, Profit and Loss Account for the year ended 31st December 2015.
(ii) A Balance Sheet as at that date.
Date posted: September 2, 2019. Answers (1)
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Record the following transactions in Akili Traders‘ Three-Column Cashbook and balance it off on 31st January 2015.
Jan 1 Balance b/d Cash Kshs. 200,000 Dr.
Bank – Kshs. 15,000Cr
Jan 2 Cash sales Kshs. 145,000
Jan 6 Paid for motor expenses Kshs. 2,000
Jan 7 Paid salaries in cash Kshs. 50,000
Jan 9 Bought stationeries in cash Kshs. 1,000
Jan 14 Settled Kalyet‘s account of Kshs. 60,000 by cheque less 3% cash discount.
Jan 18 Received a cheque of 84,600 from Koech after deducting 10% cash discount.
Jan 21 Cash sales paid direct into the bank 340,000
Jan 23 Kaigat settled his account of 2,600 by cheque after deducting 5% cash discount.
Jan 24 Received cheque from the following debtors after deducting 10% discount in each case;
Chuma Kshs, 3,000, Buko 28,000 and Matapei 9,000
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Jan 29 Credit purchase of Shs. 10,000
Jan 31 Banked all except 4,200
Date posted: September 2, 2019. Answers (1)
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Mark with a tick to indicate in the appropriate column the financial statement in which each of the items in the table below would appear.
Date posted: September 2, 2019. Answers (1)