- 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...(Solved)
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 at bank. During the month, the following transactions took place.
5th Jan Received a cheque of shs 45,250 form Wacu traders in full settlement of her debt after allowing a 5% cash discount.
25th Jan Paid Kandara traders shs 15,000 cash after deducting a cash discount of shs 600.
30th Jan Deposited all cash into the bank except shs 500.
Date posted: September 5, 2019. Answers (1)
- Identify the type of ledger appropriate for the following accounts.(Solved)
Identify the type of ledger appropriate for the following accounts.
Date posted: September 5, 2019. Answers (1)
- 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 31st Dec. 2015(Solved)
The following balances were extracted from the books of Highway stores on 31st 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 31st Dec. 2015.
Date posted: September 5, 2019. Answers (1)
- The following information relates to Kembe Traders as at 31st 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 31st 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 30th 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 30th 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 31st 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 31st August 2012.
a) Prepare a balance sheet as at 31st 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)