Get premium membership and access questions with answers, video lessons as well as revision papers.
- On 1st July 2011, Maranga had cash at Bank sh. 136,500 and cash in hand sh. 3,250. (Solved)
On 1st July 2011, Maranga had cash at Bank sh. 136,500 and cash in hand sh. 3,250. During the month, the following transactions took place.
July 2: Cash sales Sh. 42,630 paid directly into bank.
July 3: Received a cheque for Sh. 14,100 from Murungi in full settlement of a debt.
July 8: Bought goods for Sh. 26,240 and paid by cheque.
July 12: Cash sales 42,450.
July 14: Paid Ochako by cheque Sh. 23,750 in full settlement of his account less 5% cash discount.
July 15: Paid wages Sh. 24,000 in cash.
July 16: Withdrew sh. 36,000 from bank for office use.
July 18: Bought stationary in cash Sh. 750.
July 20: Cheque received from Murungi was dishonoured.
July 28: Paid salaries by cheque for Sh. 48,600.
July 30: All cash was banked except Sh. 5,000.
Required: Prepare a Three-Column Cashbook duly balanced.
Date posted: September 3, 2019. Answers (1)
- For each of the following situations, name the most suitable means of payment to be used.(Solved)
For each of the following situations, name the most suitable means of payment to be used.
Date posted: September 3, 2019. Answers (1)
- Indicate using a tick (v) the type of balance that each of the following accounts usually has.(Solved)
Indicate using a tick (√) the type of balance that each of the following accounts usually has.
Date posted: September 3, 2019. Answers (1)
- The following information relates to Amani Traders for the period ended 30th April 2012.Prepare Amani Traders‘ Trading Account.(Solved)
The following information relates to Amani Traders for the period ended 30th April 2012.
Prepare Amani Traders‘ Trading Account.
Date posted: September 3, 2019. Answers (1)
- Using a diagram illustrate the effects of a positive shift of a demand curve on the equilibrium point, price and quantity.(Solved)
Using a diagram illustrate the effects of a positive shift of a demand curve on the equilibrium point, price and quantity.
Date posted: September 3, 2019. Answers (1)
- Using a well labelled diagram, illustrate movement along the demand curve.(Solved)
Using a well labelled diagram, illustrate movement along the demand curve.
Date posted: September 3, 2019. Answers (1)
- Below are some of the factors that influence the operations of a business. Indicate with a tick (v) in the appropriate column the business environment...(Solved)
Below are some of the factors that influence the operations of a business. Indicate with a tick (√) in the appropriate column the business environment associated with each of the factor.
Date posted: September 3, 2019. Answers (1)
- Highlight FOUR Positive effects of a declining population.(Solved)
Highlight FOUR Positive effects of a declining population.
Date posted: September 3, 2019. Answers (1)
- State FOUR causes of structural inflation.(Solved)
State FOUR causes of structural inflation.
Date posted: September 3, 2019. Answers (1)
- In the spaces provided, indicate whether each of the following statements relate to preference shares or ordinary shares.
Statement.............................................. Types of shares
(i) Has voting rights
(ii) Rate...(Solved)
In the spaces provided, indicate whether each of the following statements relate to preference shares or ordinary shares.
Statement.............................................. Types of shares
(i) Has voting rights
(ii) Rate of dividend is fixed
(iii) Considered first in liquidation
(iv) Represent ownership
Date posted: September 3, 2019. Answers (1)
- The following trial balance was extracted from the books Mzalendo traders on 30th April 2005.
Stock at 30th April 2005 was 19,980
Required:
Prepare trading, profit and loss...(Solved)
The following trial balance was extracted from the books Mzalendo traders on 30th April 2005.
Stock at 30th April 2005 was 19,980
Required:
Prepare trading, profit and loss account for the year ended 30th April 2005.
Date posted: September 3, 2019. Answers (1)
- The following information was extracted from the books of Amani traders on.
Prepare Trial Balance of Amani traders for the month ended 31st December 2014.(Solved)
The following information was extracted from the books of Amani traders on.
Prepare Trial Balance of Amani traders for the month ended 31st December 2014.
Date posted: September 3, 2019. Answers (1)
- The average consumer price for a 90kg bag of maize for the year 2012 and 2013 is shown below.(Solved)
The average consumer price for a 90kg bag of maize for the year 2012 and 2013 is shown below.
Year 2012................. 2013
Prices Ksh. 3000.............. Ksh. 4000
Calculate the increase in Consumer Price Index using 2012 as the base year.
Date posted: September 3, 2019. Answers (1)
- The following is an extract of a bank account of Komu traders for the month of June 2015.
State the transactions that took place on the...(Solved)
The following is an extract of a bank account of Komu traders for the month of June 2015.
State the transactions that took place on the following dates:
(a) June 5:
(b) June 10:
(c) June 20:
(d) June 25:
Date posted: September 3, 2019. Answers (1)
- On 1st July 2012, Mara traders had Sh.6,000 cash in hand and bank overdraft of Sh.2,000. During the month the following transactions took place:2012
July 2:...(Solved)
On 1st July 2012, Mara traders had Sh.6,000 cash in hand and bank overdraft of Sh.2,000. During the month the following transactions took place:2012
July 2: Received cheques from debtors totaling to Sh.50,000
July 5: Paid rent Sh.2,000 cash.
July 15: Withdrew Sh.5,000 from the bank for personal use.
July 25: Banked all the cash except Sh.1000
Prepare a Two-column Cash Book for the month.
Date posted: September 3, 2019. Answers (1)
- Indicate whether each of the following factors influence demand or supply of a commodity.(Solved)
Indicate whether each of the following factors influence demand or supply of a commodity.
Date posted: September 3, 2019. Answers (1)
- State four reasons why short message services (SMS) is replacing letters as a way of communication.(Solved)
State four reasons why short message services (SMS) is replacing letters as a way of communication.
Date posted: September 3, 2019. Answers (1)
- State the unit of carriage for each of the following modes of transport.(Solved)
State the unit of carriage for each of the following modes of transport.
Date posted: September 3, 2019. Answers (1)
- Ndovu bought 200 blankets at Sh.500 each on credit. The terms of sale were 20% trade discount, 10% quantity discount and 5% cash discount if...(Solved)
Ndovu bought 200 blankets at Sh.500 each on credit. The terms of sale were 20% trade discount, 10% quantity discount and 5% cash discount if payment is made within two weeks. Calculate the amount paid if payment is made after one week.
Date posted: September 3, 2019. Answers (1)
- The following trial balance was prepared from the books of Joska Traders as at 31st Dec 2014.
(i)Prepare Joska Traders profit and loss account.
(ii) Calculate :
(a)...(Solved)
The following trial balance was prepared from the books of Joska Traders as at 31st Dec 2014.
(i)Prepare Joska Traders profit and loss account.
(ii) Calculate :
(a) Mark up
(b) Margin
(c) R.O.S.T.O
Date posted: September 3, 2019. Answers (1)