- The following transactions related to Kioko Traders for the month of May 2012(Solved)
The following transactions related to Kioko Traders for the month of May 2012
May 2: Sold goods on credit to Asunta sh.24, 000 and Janet sh.32, 000
May 8: Bought goods on credit from Patel Traders sh.80, 000
May 12: Asunta returned goods worth sh.4, 000
May 15: Purchased goods on credit from Karoki sh.68, 000 and Petero sh.62, 100
May 20: Goods worth sh. 12,000 were returned to Patel Traders and goods worth sh.6, 000 to Karoki
May 23: Goods sold on credit to Asunta sh. 16,000, Tom sh.22000 and Joseph sh.26, 000 May 27: Goods
returned by Janet sh.4, 000
May 30: Purchased a motor vehicle on credit worth sh. 1,000,000 from General motors
Prepare the relevant journals.
Date posted: September 3, 2019. Answers (1)
- The following information relates to Muindi Traders.Stock (1/1/2011)............ 30.000Stock (31/12/2011)........... 15,000Purchases..................... 150,000Mark up .......................20%Prepare the trading account for the period ended 31/12/2011.(Solved)
The following information relates to Muindi Traders.
Stock (1/1/2011)............ 30,000
Stock (31/12/2011)........... 15,000
Purchases..................... 150,000
Mark up .......................20%
Prepare the trading account for the period ended 31/12/2011.
Date posted: September 3, 2019. Answers (1)
- Identify the source document used to make entries in the following journals.(Solved)
Identify the source document used to make entries in the following journals.
Date posted: September 3, 2019. Answers (1)
- Record the following transactions in Kanana‘s Ledger accounts.
2014
Jan 1 : Credit sales to Mawira Ksh.60,000
Jan 2 : Credit purchases from Mutua Ksh. 120,000(Solved)
Record the following transactions in Kanana‘s Ledger accounts.
2014
Jan 1 : Credit sales to Mawira Ksh.60,000
Jan 2 : Credit purchases from Mutua Ksh. 120,000
Date posted: September 3, 2019. Answers (1)
- On 1st July 2012, Meru traders had the following balances: ...(Solved)
On 1st July 2012, Meru traders had the following balances:
shs.
Computer................ 45,000
Capital ................136,000
Creditors ..............20,000
Furniture.............. 80,000
Bank ..................26,000
Cash................... 5,000
The following transactions took place on 2nd July 2012 :
- purchased a motor van for sh.400,000 on credit from Shah motors
- paid a creditor sh. 13,000 by cheque
- bought furniture for sh.8000 by cheque
Prepare a balance sheet as at 2nd July 2012 after the above transactions had taken place.
Date posted: September 3, 2019. Answers (1)
- State four users of a balance sheet.(Solved)
State four users of a balance sheet.
Date posted: September 3, 2019. Answers (1)
- Identify the type of advertising described by each of the following :(Solved)
Identify the type of advertising described by each of the following :
Date posted: September 3, 2019. Answers (1)
- Mwiti has a retail shop in Meru town valued at Ksh. 1,500,000. He insured the business with an insurance company for sh.1,000,000 against fire. After...(Solved)
Mwiti has a retail shop in Meru town valued at Ksh. 1,500,000. He insured the business with an insurance company for sh.1,000,000 against fire. After six months a fire broke out and destroyed 80% of the business. Determine the amount of compensation that he can claim from the insurance company.
Date posted: September 3, 2019. Answers (1)
- Identify the element of transport to which each of the following items relate.
(a) Diesel
(b) Port
(c) School bus
(d) Lake(Solved)
Identify the element of transport to which each of the following items relate.
(a) Diesel
(b) Port
(c) School bus
(d) Lake
Date posted: September 3, 2019. Answers (1)
- Indicate with a tick whether the following items fall in the internal or external business environment.(Solved)
Indicate with a tick whether the following items fall in the internal or external business environment.
Date posted: September 3, 2019. Answers (1)
- The following trial balance was extracted from Milka traders on 31st Dec 2015.(Solved)
The following trial balance was extracted from Milka traders on 31st Dec 2015.
Additional information;
Closing stock was sh. 22000
Prepare Milka traders Trading, profit and loss account for the year ending 31/12/2015.
Date posted: September 3, 2019. Answers (1)
- The following transactions took place in the business of Shujaa Enterprise during the month of March 2015.(Solved)
The following transactions took place in the business of Shujaa Enterprise during the month of March 2015.
2015 March
1st: Credit purchase from Maisha sh 20,000, Ndovu sh 5,000, Kingi sh 12,000
3rd: Credit sales to Kombo sh 6000, Mamboleo sh 8000, Ndugu sh 10,000
8th: Goods returned to Shujaa Enterprises from Kombo sh 500, Ndugu sh 1000
12th: Goods returned by Shujaa Enterprises to Kingi sh 1500, Ndovu sh 500
Required;
Record the above information in the relevant books of original entry.
Date posted: September 3, 2019. Answers (1)
- Explain five factors that may affect economic planning process.(Solved)
Explain five factors that may affect economic planning process.
Date posted: September 3, 2019. Answers (1)
- Record the following transactions in a two-column cash book and balance it off;
Jan 1st opening balances: Cash sh 3000, bank overdraft sh 8000
Jan 2nd...(Solved)
Record the following transactions in a two-column cash book and balance it off;
Jan 1st opening balances: Cash sh 3000, bank overdraft sh 8000
Jan 2nd Bought goods worth sh 2000 and paid by cheque
Jan 3rd Received a cheque of sh 2900 from a debtor
Jan 4th paid wages sh 1000
Date posted: September 3, 2019. Answers (1)
- The information relates to Mamboleo Traders as at 31-12-2010.(Solved)
The information relates to Mamboleo Traders as at 31-12-2010.
Fixed assets........................ 800,000
Stock ...............................240,000
Current liabilities................. 120,000
Net profit.......................... 200,000
Calculate.
i) Return on capital employed.
ii) Current ratio.
Date posted: September 3, 2019. Answers (1)
- State four factors that determine the premiums charged by insurance companies for life policies.(Solved)
State four factors that determine the premiums charged by insurance companies for life policies.
Date posted: September 3, 2019. Answers (1)
- The following diagram illustrates a change in supply.Outline four factors responsible for the change of the supply curve from SS to S1S1.(Solved)
The following diagram illustrates a change in supply.
Outline four factors responsible for the change of the supply curve from SS to S1S1.
Date posted: September 3, 2019. Answers (1)
- Classify the following factors as either micro or macro business environment.
a) Business culture
b) Tax rates
c) Employees
d) Level of competition(Solved)
Classify the following factors as either micro or macro business environment.
a) Business culture
b) Tax rates
c) Employees
d) Level of competition
Date posted: September 3, 2019. Answers (1)
- The following Trial balance was prepared from the books of Kaitui Traders as at 31 st Dec. 2015.
Prepare
A balance sheet as at 31.12.2015
i) Determine
-Working capital.
-Capital...(Solved)
The following Trial balance was prepared from the books of Kaitui Traders as at 31 st Dec. 2015.
Prepare
A balance sheet as at 31.12.2015
i) Determine
-Working capital.
-Capital employed
-Borrowed capital
Date posted: September 3, 2019. Answers (1)
- 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)