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sharon kalunda answered the question on September 4, 2019 at 11:39
- Kisii Traders had the following balances as at 31st December 2014.
...(Solved)
Kisii Traders had the following balances as at 31st December 2014.
Shs
Bank Loan 3 years........................... 472,500
Buildings ....................................540,000
Creditors ....................................227,000
Debtors .......................................116,900
Furniture ......................................408,170
Gross profit ...................................520,600
Motor vehicle ...................................900,000
Discount allowed ................................142,000
Lighting........................................ 25,200
Interest on loan ................................1,200
Closing stock ...................................72,500
Rent Received ..................................120,000
Repairs on buildings .............................60,000
Repairs on furniture .............................72,030
Repairs on motor vehicle .........................300,000
General expenses ..................................102,100
Capital ..........................................1,400,000
Prepare:
(i) Profit and loss account for the year ended 31st December 2014.
(ii) Balance sheet as at 31/12/2014.
Date posted: September 4, 2019. Answers (1)
- State FOUR economic effects of taxation to a country's economy.(Solved)
State FOUR economic effects of taxation to a country's economy.
Date posted: September 4, 2019. Answers (1)
- In each of the following cases, state the type of inflation described.
a) The unrest in Libya has resulted to an increase in the price of...(Solved)
In each of the following cases, state the type of inflation described.
a) The unrest in Libya has resulted to an increase in the price of oil.
b) The price of bread has gone up to Shs.60 due to Increase in the price of Wheat.
c) A lot of Money in circulation has led to the general increase of price.
d) A rise in price due to uneven growth in Some sectors of the economy.
Date posted: September 4, 2019. Answers (1)
- The following are types of internal and external environments (Solved)
The following are types of internal and external environments. Technological, Business structure, Demographic and physical.In the table below , write the type of environment that suits the description.
Date posted: September 4, 2019. Answers (1)
- Record the following transactions in a two column cash bookand balance it off as at January 12th2008 January 1 Started business with capital sh. 10,000...(Solved)
Record the following transactions in a two column cash bookand balance it off as at January 12th2008
January 1 Started business with capital sh. 10,000 cash and sh. 25,000 bank overdraft
January 2 bought stock in cash sh. 6,000
January 3 cash sales sh. 2,500
January 7 bought stock worth sh. 5,000 on credit
January 12 withdrew cash from bank for office use sh. 4,000
Date posted: September 4, 2019. Answers (1)
- Atemo is the head of the marketing team at ABC Company that has recorded tremendous increase in volume of sales over the last four years....(Solved)
Atemo is the head of the marketing team at ABC Company that has recorded tremendous increase in volume of sales over the last four years. Highlight four attributes that she possess.
Date posted: September 4, 2019. Answers (1)
- The following balances were extracted from the books of Asena Enterprises on 30th June, 2006. ...(Solved)
The following balances were extracted from the books of Asena Enterprises on 30th June, 2006.
Shs.
Gross profit........................... 120,000
Rent Income ............................100,000
Dividends received..................... 200,000
Salaries................................ 300,000
Carriage outwards........................ 10,300
Discount allowed .........................21,000
Prepare Asena's Enterprises profit and loss account for the year ended 30th June,2006.
Date posted: September 4, 2019. Answers (1)
- Study the diagrams below and answer the question that follows:-
State the factors that may cause the above change from diagram (i) to (ii)(Solved)
Study the diagrams below and answer the question that follows:-
State the factors that may cause the above change from diagram (i) to (ii)
Date posted: September 4, 2019. Answers (1)
- The following information was extracted from MaweMbili traders for the year ended 31st December, 2015
...(Solved)
The following information was extracted from MaweMbili traders for the year ended 31st December, 2015
KSH
Machinery ..................460,000
Cash in hand................ 80,000
Debtors ....................130,000
Creditors ...................60,000
Prepaid salaries............ 20,000
4 year loan .................280,000
Accrued rent ................30,000
Required:
Prepare a balance sheet of Mawembili traders as at 31st December, 2015
Date posted: September 4, 2019. Answers (1)
- 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)