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–Accepting deposits.
-Lending.
-Providing advice.
-Safe custody of valuable items.
-Acting as trustees.
-Acting as guarantors and referees.
-Issuing letters of credit.
Kavungya answered the question on September 25, 2019 at 09:18
- The following trial balance was prepared by a book keeper but failed to balance.
Prepare a corrected trial balance.(Solved)
The following trial balance was prepared by a book keeper but failed to balance.
Majengo Traders
Trial Balance
As at 30th June 2003
Dr Cr
Prepare a corrected trial balance.
Date posted: September 25, 2019. Answers (1)
- Koech started a business dealing in ladies clothing ten years ago. His business has gradually been growing and making more profits. Outline four reasons that...(Solved)
Koech started a business dealing in ladies clothing ten years ago. His business has gradually been growing and making more profits. Outline four reasons that may account to this.
Date posted: September 25, 2019. Answers (1)
- The capital A/C of Mbele Kabisa Traders showed a balance of shs 50,000 as at 1st July 2004. For the year ended June 2005 the...(Solved)
The capital A/C of Mbele Kabisa Traders showed a balance of shs 50,000 as at 1st July 2004. For the year ended June 2005 the following information was available:
a)Proprietor brought in a personal car worth sh. 80 000 for business use.
b)Net profit amounted to sh. 64 000.
c)The proprietor withdrew sh. 32 000 cash for personal use.
Prepare the capital A/C as at 30th June 2005
Date posted: September 25, 2019. Answers (1)
- Prepare the balance sheet of Baraka Traders from the following list of balances extracted from his books as at 31st December 2005.
Machine 150 000
Motor vehicles 200...(Solved)
Prepare the balance sheet of Baraka Traders from the following list of balances extracted from his books as at 31st December 2005.
Machine 150 000
Motor vehicles 200 000
Stock 40 000
Creditors 25 000
Loan from KCB 100 000
Bank 20 000
Furniture 7 000
Capital 292 000
Date posted: September 25, 2019. Answers (1)
- In the absence of a written partnership agreement, the provisions of the Partnership Act will apply. State four such provisions.(Solved)
In the absence of a written partnership agreement, the provisions of the Partnership Act will apply. State four such provisions.
Date posted: September 25, 2019. Answers (1)
- Outline four information which is disclosed in a statement of account. (Solved)
Outline four information which is disclosed in a statement of account.
Date posted: September 25, 2019. Answers (1)
- Highlight four features of open air market traders.(Solved)
Highlight four features of open air market traders.
Date posted: September 25, 2019. Answers (1)
- State four emotional qualities of an office worker.(Solved)
State four emotional qualities of an office worker.
Date posted: September 25, 2019. Answers (1)
- Businesses should give something back to the communities in which they operate. State four parties that a business should show social responsibility to. (Solved)
Businesses should give something back to the communities in which they operate. State four parties that a business should show social responsibility to.
Date posted: September 25, 2019. Answers (1)
- Highlight four factors that may cause changes in the population of an area.(Solved)
Highlight four factors that may cause changes in the population of an area.
Date posted: September 25, 2019. Answers (1)
- Explain five factors that make indirect taxes preferable to direct taxes as a means of raising government revenue.(Solved)
Explain five factors that make indirect taxes preferable to direct taxes as a means of raising government revenue.
Date posted: September 25, 2019. Answers (1)
- The following balances were obtained from the books of Nakhulo Traders on 31st Dec 2011
Additional information
(i)Closing stock was valued at sh.72,000
(ii)Telephone charges prepaid shs.1100
(iii)Outstanding water...(Solved)
The following balances were obtained from the books of Nakhulo Traders on 31st Dec 2011
Additional information
(i)Closing stock was valued at sh.72,000
(ii)Telephone charges prepaid shs.1100
(iii)Outstanding water bill shs. 1300
(iv)Depreciation on equipment is 10% on cost carried inwards shs.11,000, carried outwards shs.10,000
Prepare;
Trading, profit and loss account for year ended 31st Dec 2011.
Date posted: September 25, 2019. Answers (1)
- Explain the benefits of the new East African cooperation to Kenya.(Solved)
Explain the benefits of the new East African cooperation to Kenya.
Date posted: September 25, 2019. Answers (1)
- Explain five roles of the Nairobi stock Exchanged market in the Kenyan economy.(Solved)
Explain five roles of the Nairobi stock Exchanged market in the Kenyan economy.
Date posted: September 25, 2019. Answers (1)
- The following trial balance was extracted from the books of Bumala traders on 31st Dec 2011
Additional information;
(i)Stock as at 31st December 2011 shs 52,000
(ii)Rent...(Solved)
The following trial balance was extracted from the books of Bumala traders on 31st Dec 2011
Additional information;
(i)Stock as at 31st December 2011 shs 52,000
(ii)Rent accrued shs. 6,000
(iii)Insurance paid in advanced sh.4,000
(iv)Commission due shs.5,000
(v)Salaries along shs.21,000
Required;
(a)Trading, profit and lost account for the year ended 31st December 2011.
(b)Balance sheet as at that date
Date posted: September 25, 2019. Answers (1)
- Globalization is a term often used to donate business ownership and spread .Outline four merits of globalization of business units.(Solved)
Globalization is a term often used to donate business ownership and spread .Outline four merits of globalization of business units.
Date posted: September 25, 2019. Answers (1)
- For each of the following transactions indicate in the appropriate columns the source documents and the books of original entry in which the transactions should...(Solved)
For each of the following transactions indicate in the appropriate columns the source documents and the books of original entry in which the transactions should be recorded.
Date posted: September 25, 2019. Answers (1)
- Complete the table below(Solved)
Complete the table below
Date posted: September 25, 2019. Answers (1)
- Highlight four difficulties encountered in international trade(Solved)
Highlight four difficulties encountered in international trade
Date posted: September 25, 2019. Answers (1)
- The following information relates to Alex traders .Determine the missing figures(Solved)
The following information relates to Alex traders .Determine the missing figures
Date posted: September 25, 2019. Answers (1)