Get premium membership and access questions with answers, video lessons as well as revision papers.
- The following information relates to the business of Kipisigs Traders for the week ended 29th Feb 2016.(Solved)
The following information relates to the business of Kipisigs Traders for the week ended 29th Feb 2016.
Feb 24th ............................Started business with shs 24,000 in the bank.
Feb 25 th............................ Bought goods worth shs 18,000 by cheque.
Feb 26 th.............................. Sold goods for cash shs 18,900
Feb 28 th................................ Cash sales worth Kshs 5,625
Feb 29 th Paid commission Kshs 900 in cash.
Required
Prepared ledger accounts and balance them off.
Date posted: September 3, 2019. Answers (1)
- The balances given below were extracted from the ledger accounts of penny profit traders as at 30th June, 2005. Prepare profit and loss account and...(Solved)
The balances given below were extracted from the ledger accounts of penny profit traders as at 30th June, 2005. Prepare profit and loss account and determine the Net profit or loss made by the business for the period ended 30th June 2005.
Date posted: September 3, 2019. Answers (1)
- If the price of 1kg of flour was shs 45 per kilogram in 2003 and in 2004 the price rose to sh 50.Calculate the consumer...(Solved)
If the price of 1kg of flour was shs 45 per kilogram in 2003 and in 2004 the price rose to sh 50.Calculate the consumer price index (CPI).
Date posted: September 3, 2019. Answers (1)
- Highlight four transactions that can be recorded through the General journal(Solved)
Highlight four transactions that can be recorded through the General journal
Date posted: September 3, 2019. Answers (1)
- Outline four benefits of using whatsapp in communication.(Solved)
Outline four benefits of using whatsapp in communication.
Date posted: September 3, 2019. Answers (1)
- Outline four ways in which firms contribute to National income of a country.(Solved)
Outline four ways in which firms contribute to National income of a country.
Date posted: September 3, 2019. Answers (1)
- Mr Busara is a wholesaler,how can advertisement bring disadvantages to his business?(Solved)
Mr Busara is a wholesaler,how can advertisement bring disadvantages to his business?
Date posted: September 3, 2019. Answers (1)
- The table below represents the supply of milk for eight weeks in the month of January and February 2009.Outline four causes of the trend in...(Solved)
The table below represents the supply of milk for eight weeks in the month of January and February 2009.
Outline four causes of the trend in the table.
Date posted: September 3, 2019. Answers (1)
- The trial balances shown below was extracted from the ledger accounts of Maendeleo Traders as at 31st Dec 2015.
Stock on 31st Dec. 2015 was sh....(Solved)
The trial balances shown below was extracted from the ledger accounts of Maendeleo Traders as at 31st Dec 2015.
Stock on 31st Dec. 2015 was sh. 30,000
Required:
Prepare Maendeleo Traders trading, Profit and Loss account for the period ended 31st Dec.2015.
Date posted: September 3, 2019. Answers (1)
- The following balances were extracted from the books of mathioya- kangema traders(Solved)
The following balances were extracted from the books of mathioya- kangema traders on 1st Jan 2015
Capital.............................. 920,000
Building ..............................300,000
Machinery ............................250,000
Debtors ...............................100,000
Creditors.............................. 200,000
Bank................................... 280,000
Stock ...................................190,000
The following transactions took place during the year ended 31st Dec 2015.
i) Sold goods for Shs. 160,000 receiving sh. 100,000 through a cheque and balance was to be settled the following year.
ii) Sold machinery worth sh.150,000 for sh. 100,000 and payment was made through the bank
iii) Sh. 50,000 was withdrawn from the bank for office use.
Required:
Prepare Mathioya Kangema balance sheet as at 31st Dec 2015 showing the ledger balances in the appropriate classes.
Date posted: September 3, 2019. Answers (1)
- The table below shows the age distribution of a country.(Solved)
The table below shows the age distribution of a country.
State four negative economic implications of this age distribution to a country.
Date posted: September 3, 2019. Answers (1)
- The diagram below shows a shift in supply curve from S0S0 to S1S1(Solved)
The diagram below shows a shift in supply curve from S0S0 to S1S1
State and explain the factors that may account for the above shift.
Date posted: September 3, 2019. Answers (1)
- Using the accounting equation, fill in the missing figures in the following table.(Solved)
Using the accounting equation, fill in the missing figures in the following table.
Date posted: September 3, 2019. Answers (1)
- Give four reasons that make insurance companies decline to insure acts of nature.(Solved)
Give four reasons that make insurance companies decline to insure acts of nature.
Date posted: September 3, 2019. Answers (1)
- 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...(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)
- State four circumstances under which photocopying may be used to reproduce documents in a school.(Solved)
State four circumstances under which photocopying may be used to reproduce documents in a school.
Date posted: September 3, 2019. Answers (1)
- State whether each of the following transactions increased, decreased or had no effects on the balance sheet totals.(Solved)
State whether each of the following transactions increased, decreased or had no effects on the balance sheet totals.
Date posted: September 3, 2019. Answers (1)
- Diana, Peter and James have been running a business as a partner without a written agreement. Advice them on the following matters as per the...(Solved)
Diana, Peter and James have been running a business as a partner without a written agreement. Advice them on the following matters as per the partnership Act.
a) Profit and loss sharing
b) Salary to partners
c) Loans given to the business by the partner
d) Admission of a new partner
Date posted: September 3, 2019. Answers (1)
- For each of the following sources document name the relevant day book.(Solved)
For each of the following sources document name the relevant day book.
Date posted: September 2, 2019. Answers (1)
- On 1st of October 2009 Sambu bought goods on credit quoted at Kshs.240,000. Terms of sales were 20% trade discount and 10% cash discount if...(Solved)
On 1st of October 2009 Sambu bought goods on credit quoted at Kshs.240,000. Terms of sales were 20% trade discount and 10% cash discount if payment was made on 29TH October 2009. Calculate the amount paid if payment was made on 26th October 2009.
Date posted: September 2, 2019. Answers (1)