- The following transactions took place in the business of Darasile Traders in Kisumu year 2013.July 1st: Started business with capital in cash Kshs.150,000.July 2th: Opening...(Solved)
The following transactions took place in the business of Darasile Traders in Kisumu year 2013.
July 1st: Started business with capital in cash Kshs.150,000.
July 2th: Opening a bank account and deposited Kshs.30,000.
July 3th: Bought buildings in cash Kshs.60,000.
July 4th: Borrowed a loan in cash Kshs.20,000.
July 5th: Bought stationery by cheque worth Kshs.6,000.
July 6th: Repaid part of the loan by cheque Kshs.10,000.
Required:
(i) Record the above transactions in their various ledger accounts.
(ii) Prepare a trial balance.
Date posted: September 4, 2019. Answers (1)
- The following information relates to Murang‘a traders for the year ended 30th September 2006.
Prepare the business trading account for the year ended 30th Sep 2006.(Solved)
The following information relates to Murang‘a traders for the year ended 30th September 2006.
Prepare the business trading account for the year ended 30th Sep 2006.
Date posted: September 4, 2019. Answers (1)
- The following information relates to Kuwa‘s business for the year ended 31st May 2010.
Net profit Sh.20,000
Working capital Sh.30,000
Return on capital 20%
Employed
Determine the value of:
(a) Capital...(Solved)
The following information relates to Kuwa‘s business for the year ended 31st May 2010.
Net profit Sh.20,000
Working capital Sh.30,000
Return on capital 20%
Employed
Determine the value of:
(a) Capital employed.
(b) Fixed assets.
Date posted: September 4, 2019. Answers (1)
- Identify the legislation meant to protect consumers that each of the following description refers to.
Description Legislation
(a) Ensures that traders or producers do not cheat...(Solved)
Identify the legislation meant to protect consumers that each of the following description refers to.
Description Legislation
(a) Ensures that traders or producers do not cheat consumers by giving false descriptions of goods.
(b) Prohibits traders and manufacturers from including substance that might harm consumers in a product.
(c) Ensures that all weighing equipment are correct and accurate.
(d) Ensures that the landlord‘s do not overcharge their tenants.
Date posted: September 4, 2019. Answers (1)
- Indicate the type of journal in which each of the following transactions would be recorded.(Solved)
Indicate the type of journal in which each of the following transactions would be recorded.
Date posted: September 4, 2019. Answers (1)
- Write the account to debit and credit in the following transactions written below.(Solved)
Write the account to debit and credit in the following transactions written below.
Date posted: September 4, 2019. Answers (1)
- Indicate the type of insurance losses described by the following circumstances.
(a) Matter insured is not completely destroyed but cost of salvage is more than the...(Solved)
Indicate the type of insurance losses described by the following circumstances.
(a) Matter insured is not completely destroyed but cost of salvage is more than the wreckage.
(b) Loss occurring by deliberate action of the ship master to save the screw.
(c) Loss occurring on a ship accidentally.
(d) Loss occurring and the matter insured is completely lost.
Date posted: September 4, 2019. Answers (1)
- The following information relate to Sika Investment Ltd for the year ended 30th June 1997.
Required:
Prepare Sika Investment Ltd balance sheet as at 30th June 1997.(Solved)
The following information relate to Sika Investment Ltd for the year ended 30th June 1997.
Required:
Prepare Sika Investment Ltd balance sheet as at 30th June 1997.
Date posted: September 4, 2019. Answers (1)
- Highlight four reasons why mail order business is not very popular in Kenya.(Solved)
Highlight four reasons why mail order business is not very popular in Kenya.
Date posted: September 4, 2019. Answers (1)
- Highlight four advantages of having inland container depots (ICDS) in Nairobi, Kisumu, Eldoret and Malaba.(Solved)
Highlight four advantages of having inland container depots (ICDS) in Nairobi, Kisumu, Eldoret and Malaba.
Date posted: September 4, 2019. Answers (1)
- The following trial balance was extracted from the Books of Kabati Traders on December 31st 2012.
Stock on 31st December 2012 Sh. 35,000
Prepare the Trading, Profit...(Solved)
The following trial balance was extracted from the Books of Kabati Traders on December 31st 2012.
Stock on 31st December 2012 Sh. 35,000
Prepare the Trading, Profit and Loss Account for the period ended 31st December 2012 and a balance sheet as at that date.
Date posted: September 4, 2019. Answers (1)
- 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)