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(a)Sales returns / Return inwards journal
(b)Purchases journal
(c)Purchase returns / return outwards journal
(d)General journal
Kavungya answered the question on September 25, 2019 at 11:58
- State four ways in which the government may promote local trade.(Solved)
State four ways in which the government may promote local trade.
Date posted: September 25, 2019. Answers (1)
- The following Trial balance was obtained from the books of East Traders for the year
ended 30.06.2011
Prepare East Stores profit and loss account
(Solved)
The following Trial balance was obtained from the books of East Traders for the year
ended 30.06.2011
Prepare East Stores profit and loss account
Date posted: September 25, 2019. Answers (1)
- The information below was extracted from the books of Ssisa Stores for the year
ended 31.12.2011
Opening stock sh.75,000
Closing stock sh.25,000
Turnover sh.900,000
Margin 25%
Determine:
(a)Gross profit
(b)Rate of Turnover(Solved)
The information below was extracted from the books of Ssisa Stores for the year
ended 31.12.2011
Opening stock sh.75,000
Closing stock sh.25,000
Turnover sh.900,000
Margin 25%
Determine:
(a)Gross profit
(b)Rate of Turnover
Date posted: September 25, 2019. Answers (1)
- Outline four advantages of a systematic arrangement of goods in a warehouse.(Solved)
Outline four advantages of a systematic arrangement of goods in a warehouse.
Date posted: September 25, 2019. Answers (1)
- The following are some of the documents used in International trade; Proforma Invoice,Consular Invoice, Certificate of origin and Indent. Match each document with the Appropriate...(Solved)
The following are some of the documents used in International trade; Proforma Invoice,Consular Invoice, Certificate of origin and Indent. Match each document with the Appropriate description in the table below.
Date posted: September 25, 2019. Answers (1)
- Identify the tax system described by the following statements.
(a)Tax payers pay a fixed percentage of their income as tax.
(b)Amount of tax paid increases proportionately with...(Solved)
Identify the tax system described by the following statements.
(a)Tax payers pay a fixed percentage of their income as tax.
(b)Amount of tax paid increases proportionately with increase in income
(c)Type of tax which takes a higher proportion of low income earners as compared to high income earners
Date posted: September 25, 2019. Answers (1)
- Give four reasons why it would be advisable to take an endowment policy instead of a whole life policy.(Solved)
Give four reasons why it would be advisable to take an endowment policy instead of a whole life policy.
Date posted: September 25, 2019. Answers (1)
- The diagram below shows equilibrium price and quantity.
Draw a new demand curve on the diagram above showing a decrease in demand and the effect on;
(i)equilibrium...(Solved)
The diagram below shows equilibrium price and quantity.
Draw a new demand curve on the diagram above showing a decrease in demand and the effect on;
(i)equilibrium price
(ii)equilibrium quantity
(iii)equilibrium point
Date posted: September 25, 2019. Answers (1)
- Give four reasons why discounts are granted.(Solved)
Give four reasons why discounts are granted.
Date posted: September 25, 2019. Answers (1)
- Identify the macro-environmental factor affecting business operations as described by the following statements.
(a)Laws and policies that regulate business activities
(b)Affects buyer’s ability to buy commodities offered...(Solved)
Identify the macro-environmental factor affecting business operations as described by the following statements.
(a)Laws and policies that regulate business activities
(b)Affects buyer’s ability to buy commodities offered by a business
(c)Firms selling similar products trying to out do each other in their efforts to maximize profits
(d)Dictates how people live and what products they consume
Date posted: September 25, 2019. Answers (1)
- The following trial balance was extracted from the books of Rafiki traders as at 31st December 2018.(Solved)
The following trial balance was extracted from the books of Rafiki traders as at 31st December 2018.
Required:
(i) Prepare Rafiki traders trading profit and loss account.
(ii) A balance sheet as at 31st December 2018.
Date posted: September 25, 2019. Answers (1)
- By aid of a diagram, explain how price of a commodity is determined by the forces of demand and supply.(Solved)
By aid of a diagram, explain how price of a commodity is determined by the forces of demand and supply.
Date posted: September 25, 2019. Answers (1)
- On 1st May 2018, Sosiot traders had Sh.25,000 Cash in hand and Bank overdraft of sh 15,000. During the month the following transactions took place.(Solved)
On 1st May 2018, Sosiot traders had Sh.25,000 Cash in hand and Bank overdraft of sh 15,000. During the month the following transactions took place.
2018
May 3: Kipkurui ,a debtor settled his account of sh 12000 by cheque of sh 10,000
May 5: Paid rent by cash sh. 5000
May 6: Deposited sh. 2000 into the business bank account from the cash till.
May 8: Received sh 6000 Cash from Kamau, a debtor
May 10: Wanjiku a debtor settled her account of 15,000 by cheque, having been
allowed 20% discount.
May 15: Purchased Furniture worth sh 3,000 paying by cheque
May 18: Deposited sh 7,000 into the bank from private sources.
May 23: Received the following amounts in cash from debtors having deducted
cash discount of 5%. Kertich sh 7600, Brian sh 4750
May 25: Banked all the available Cash except sh 1000
Required:
Prepare a dully balanced three column cash book.
Date posted: September 25, 2019. Answers (1)
- Kenya is endowed with some economic resources yet it has failed to exploit them.
Outline five reasons that account for this.(Solved)
Kenya is endowed with some economic resources yet it has failed to exploit them.
Outline five reasons that account for this.
Date posted: September 25, 2019. Answers (1)
- The table below shows the Gross Domestic Product (GDP) of a country X in the year 2014 to 2018(Solved)
The table below shows the Gross Domestic Product (GDP) of a country X in the year 2014 to 2018
a)Explain five factors that may have caused the above trend.
b) Explain five causes of demand pull inflation
Date posted: September 25, 2019. Answers (1)
- Explain five reasons for the popularity of using social media in product promotion.(Solved)
Explain five reasons for the popularity of using social media in product promotion.
Date posted: September 25, 2019. Answers (1)
- Explain five ways in which the demographic environment may positively influence business activities(Solved)
Explain five ways in which the demographic environment may positively influence business activities
Date posted: September 25, 2019. Answers (1)
- Outline four reasons why subsistence production is discouraged in many countries.(Solved)
Outline four reasons why subsistence production is discouraged in many countries.
Date posted: September 25, 2019. Answers (1)
- John and Peter bought a Nissan matatu worth sh. 3,000,000. John paid sh. 2,000,000 and Peter sh. 1,000,000. They insured the matatu for a comprehensive...(Solved)
John and Peter bought a Nissan matatu worth sh. 3,000,000. John paid sh. 2,000,000 and Peter sh. 1,000,000. They insured the matatu for a comprehensive cover for shs 2,500,000. Later the matatu was involved in an accident to a loss of sh 1,500,000. How much were they compensated and give reasons in support of your answer?
Date posted: September 25, 2019. Answers (1)
- Record the following transactions in the relevant journals.(Solved)
Record the following transactions in the relevant journals.
2019
Feb 2: Bought goods on Credit worth shs6500 from Eldolink suppliers
Feb 8: Sold goods worth shs5000 on credit to Jamal.
Feb 12: Sold stock valued at shs8500 on credit to Musyoka
Feb 16: Bought goods worth shs3000 on credit from Jetlink traders
Date posted: September 25, 2019. Answers (1)