Identify the type of ledger appropriate for the following accounts.

      

Identify the type of ledger appropriate for the following accounts.

  

Answers

---

- General ledger
- Sales ledger
- Purchases
- Nominal ledger

---

sharon kalunda answered the question on September 5, 2019 at 10:04

Next: Compute the missing figures and fill in the blank spaces.
Previous: Record the following transaction in the cash book below. Duly balanced. On 1st Jan 2015, Mugo traders had shs 22,500 in cash and shs 250,000...

View More Business Studies Questions and Answers | Return to Questions Index

Learn High School English on YouTube

Related Questions

---

• Compute the missing figures and fill in the blank spaces.(Solved)
  

  Compute the missing figures and fill in the blank spaces.
  

  Date posted: September 5, 2019.  Answers (1)

• Identify the term of payment associated with the following statements.(Solved)
  

  Identify the term of payment associated with the following statements.
  

  Date posted: September 5, 2019.  Answers (1)

• Name the factor of production associated with each of the rewards listed below.(Solved)
  

  Name the factor of production associated with each of the rewards listed below.
  
  

  Date posted: September 5, 2019.  Answers (1)

• The following diagram represents equilibrium price and quantity for a market. Outline four effects of a shift in demand curve to the left.(Solved)
  

  The following diagram represents equilibrium price and quantity for a market. Outline four effects of a shift in demand curve to the left.
  

  Date posted: September 5, 2019.  Answers (1)

• Indicate in the table the type of advertisement described.(Solved)
  

  Indicate in the table the type of advertisement described.
  

  Date posted: September 5, 2019.  Answers (1)

• The following transactions relate to Mamboleo Retailers for the month of September 2014 Sept 3 Sold goods on credit to Bukachi sh.14000 and Janet sh.18000 Sept 9...(Solved)
  

  The following transactions relate to Mamboleo Retailers for the month of September 2014
  
  Sept 3 Sold goods on credit to Bukachi sh.14000 and Janet sh.18000
  Sept 9 Bought goods on credit from Shaban Traders sh.45000
  Sept 14 Bukachi returned goods worth sh.2500
  Sept 18 Purchased goods on credit from Nambaka sh.36000 and Janet sh.1200
  Sept 22 Goods worth sh.7000 were returned to Shaban Traders and goods worth sh.4000 to Nambaka
  Sept 24 Sold goods on credit to Bukachi sh.9000
  Sept 26 Goods returned by Nehemiah sh.3000
  Sept 30 Bought a generator worth sh.450,000 on credit from Dynomite power company
  
  Required :
  Prepare the relevant journals.

  Date posted: September 5, 2019.  Answers (1)

• The following balances were extracted from the books of Highway stores on 31^st Dec. 2015(Solved)
  

  The following balances were extracted from the books of Highway stores on 31^st Dec. 2015
  
  
  Items.................................................................... Shs.
  Land and buildings ........................................................650,000
  Stock...................................................................... 470,000
  Bank overdraft.............................................................. 80,000
  Debtors...................................................................... 350,000
  Ten year loan................................................................ 500,000
  Creditors ....................................................................220,000
  Cash........................................................................ 50,000
  Motor van .....................................................................150,000
  
  Required :
  i) Prepare a balance sheet for Highway Stores as at 31^st Dec. 2015.

  Date posted: September 5, 2019.  Answers (1)

• The following information relates to Kembe Traders as at 31^st December 2008 Rate of stock turnover 3 times Mark up 20% Opening stock sh.160,000 Closing stock sh.200,000 Required :...(Solved)
  

  The following information relates to Kembe Traders as at 31^st December 2008
  Rate of stock turnover 3 times
  Mark up 20%
  Opening stock sh.160,000
  Closing stock sh.200,000
  Required : Determine
  i) Gross profit
  ii) Sales

  Date posted: September 5, 2019.  Answers (1)

• The table below relates to four different businesses, insert the correct values for A, B, C and D.(Solved)
  

  The table below relates to four different businesses, insert the correct values for A, B, C and D.
  

  Date posted: September 5, 2019.  Answers (1)

• Identify the type of utility created by the following activities.(Solved)
  

  Identify the type of utility created by the following activities.
  

  Date posted: September 5, 2019.  Answers (1)

• For each of the following transactions indicate the account to be debited or credited.(Solved)
  

  For each of the following transactions indicate the account to be debited or credited.
  

  Date posted: September 5, 2019.  Answers (1)

• The following table represents the supply of sweet potatoes for three (3) months.Explain FIVE reasons to account for the change in quantity supplied of sweet...(Solved)
  

  The following table represents the supply of sweet potatoes for three (3) months.
  
  Explain FIVE reasons to account for the change in quantity supplied of sweet potatoes in the market.

  Date posted: September 5, 2019.  Answers (1)

• The following information relates to Baraka traders. Closing stock was valued at sh.8000 Required : i) The trading profit and loss account. ii) The balance sheet(Solved)
  

  The following information relates to Baraka traders.
  
  Closing stock was valued at sh.8000
  Required :
  i) The trading profit and loss account.
  ii) The balance sheet

  Date posted: September 5, 2019.  Answers (1)

• The following information relates to Haraka Traders for the year ended(Solved)
  

  The following information relates to Haraka Traders for the year ended 30^th June 2014
  
  Net sales..................................... Shs. 400,000
  Expenses .......................................Shs. 30,000
  Margin ............................................20%
  Rent Revenue ....................................Shs. 20,000
  Carriage outwards .................................Shs. 10,000
  Prepare Haraka traders profit and loss Account for the year ended 30^th June 2014

  Date posted: September 4, 2019.  Answers (1)

• Name four acts of parliament enacted to protect consumers.(Solved)
  

  Name four acts of parliament enacted to protect consumers.

  Date posted: September 4, 2019.  Answers (1)

• The following balance sheet was extracted from the books of Pramukh traders for the year ended 31^st August 2012. a) Prepare a balance sheet as at...(Solved)
  

  The following balance sheet was extracted from the books of Pramukh traders for the year ended 31^st August 2012.
  
  a) Prepare a balance sheet as at 31^st August, 2012.
  b) Determine;
  i) Working capital
  ii) Capital employed
  iii) MKLD Borrowed capital

  Date posted: September 4, 2019.  Answers (1)

• The following information relate to Maganda traders for the year 2012. ...(Solved)
  

  The following information relate to Maganda traders for the year 2012.
  
  Shs.
  Capital ........................................340,000
  Gross profit ....................................108,000
  Cost of sales ...................................162,000
  Cost of stock turn over .........................6 times
  Expenses........................................ 40,000
  From the above information, calculate;
  a) Turn over
  b) Margin
  c) Net profit
  d) Average stock
  e) Rate of turn on capital

  Date posted: September 4, 2019.  Answers (1)

• The table below shows estimated values for a certain country in millions of dollars. ...(Solved)
  

  The table below shows estimated values for a certain country in millions of dollars.
  
  US$
  Wages and salaries .....................450,000
  Income from rent .......................30,000
  Profit of corporation ..................40,000
  Net interest ............................80,000
  Indirect taxes ..........................70,000
  Subsidies ...............................200,000
  Depreciation............................. 80,000
  Net income from abroad..................... 50,000
  From the above table calculate;
  (a) The gross domestic produce
  (b) Gross national product

  Date posted: September 4, 2019.  Answers (1)

• The following information was extracted from the books of Migori Traders on(Solved)
  

  The following information was extracted from the books of Migori Traders on 31^st December 2015.
  
  Stock 1^st Jan................................... 30,000
  Sales .......................................................500,000
  Purchases ...................................................300,000
  Return in ....................................................5,000
  Purchases return ............................................20,000
  Carriage in ..................................................5,000
  Stock 31^st Dec 2015............................... 70,000
  Sales and wages ..............................................20,000
  Commission received........................................... 5,000
  Repairs .......................................................5,000
  Prepare;
  Trading account
  Profit and loss account

  Date posted: September 4, 2019.  Answers (1)

• Enter the following transactions in a single column cash book and balance it off. (Solved)
  

  Enter the following transactions in a single column cash book and balance it off.
  
  2013 August 2^nd commenced business with Sh. 14.000 cash and 200,000 at the bank.
  2013 August 3^rd made cash sales amounting to sh. 6,000
  2013 August 5^th received cash 16,000 from Marwa, a debtor.
  2013 August 12^th paid for motor expenses Sh. 7,000 in cash.
  2013 August 13^th drew Sh. 30,000 from bank for office use.

  Date posted: September 4, 2019.  Answers (1)