- Prepare a three column cash book from the following information for the month of May 2004 and balance it off.May 1 Balances b/d cash sh...(Solved)
Prepare a three column cash book from the following information for the month of May 2004 and balance it off.
May 1 Balances b/d cash sh 50,000, Bank sh 180,000
May 1 Cash sales sh 3,000
May 2 Paid the following creditors by cheque, N Mwangi sh 1,500, J .Mwaniki sh 16,000, N Mugo sh 1,200 after deducting 10% cash discount in each case.
May 3 Received cheques from the following debtors after deducting 5% discount in each case E. Githinji sh 24,000, D.Nyamu sh 9,000, E. Mutua sh 1,400.
May 5 Paid for repairs in cash sh 16,000
May 10 Paid Juma in cash sh9,500
May 15 Banked sh 6,000 from the cash till
May 15 Received cash from P. Kavuniki sh 13,500 in full settlement of his account of sh 15,000.
Date posted: September 26, 2019. Answers (1)
- Highlight four benefits of having business enterprises located in one area.(Solved)
Highlight four benefits of having business enterprises located in one area.
Date posted: September 26, 2019. Answers (1)
- On 1st January 2009, Sembe stores had capital sh 600,000. At the end of the year, the following balances were available:
...(Solved)
On 1st January 2009, Sembe stores had capital sh 600,000. At the end of the year, the following balances were available:
Sh
Stock 70,000
Creditors 50,000
Debtors 30,000
Bank overdraft 80,000
Buildings 800,000
Determine the net profit for the year.
Date posted: September 26, 2019. Answers (1)
- The following balances were extracted from the books of Sila Traders on 31st December.2001.
...(Solved)
The following balances were extracted from the books of Sila Traders on 31st December.2001.
Sh
Gross profit 400,000
Salaries 160,000
Telephone 40,000
Discount received 16,000
Discount allowed 30,000
Stationery 85,000
Prepare a profit and loss account for the period ended 31st December. 2001.
Date posted: September 26, 2019. Answers (1)
- Give four reasons why supermarkets attract many customers.(Solved)
Give four reasons why supermarkets attract many customers.
Date posted: September 26, 2019. Answers (1)
- On 1st May. 2010, the cash book of Amua Traders had cash and bank balances of sh 3,500 and 18,000 respectively.
During the month the following...(Solved)
On 1st May. 2010, the cash book of Amua Traders had cash and bank balances of sh 3,500 and 18,000 respectively.
During the month the following transactions took place;
May 2 cash sales sh 12,500
6 paid sh 13,000 in cash for wages.
14 A debtor paid sh 20,000 by cheque.
20 Withdrew sh 30,000 from the bank for office use.
30 Drew a cheque for sh 10,000 to pay a creditor.
Prepare a two – column cash book duly balanced.
Date posted: September 26, 2019. Answers (1)
- Indicate the quality of office workers that best fits each of the given descriptions.
a)Ability to observe working hours without delay
b) Handling people politely and pleasantly
c)...(Solved)
Indicate the quality of office workers that best fits each of the given descriptions.
a)Ability to observe working hours without delay
b) Handling people politely and pleasantly
c) Commitment to ones institution
Date posted: September 26, 2019. Answers (1)
- The following information relates to ABC traders for the year ended 31 December. 2011.
Opening stock 80,000
Closing...(Solved)
The following information relates to ABC traders for the year ended 31 December. 2011.
Opening stock 80,000
Closing stock 100,000
Purchases 900,000
Mark- up 20%
Calculate:
i) Cost of goods sold.
ii) Gross profit.
Date posted: September 26, 2019. Answers (1)
- Give four challenges that may face a business unit that does not file its documents.(Solved)
Give four challenges that may face a business unit that does not file its documents.
Date posted: September 26, 2019. Answers (1)
- In the spaces provided, indicate the accounts to be debited and credited for each of the given transactions.(Solved)
In the spaces provided, indicate the accounts to be debited and credited for each of the given transactions.
Date posted: September 26, 2019. Answers (1)
- Highlight four reasons why interest is charged on borrowed capital.(Solved)
Highlight four reasons why interest is charged on borrowed capital.
Date posted: September 26, 2019. Answers (1)
- Indicate the type of utility created by each of the given commercial activities.
a)Making chairs from timber
b)Storing chairs in a workhouse
c)Transporting chairs to the market
d)Selling...(Solved)
Indicate the type of utility created by each of the given commercial activities.
a)Making chairs from timber
b)Storing chairs in a workhouse
c)Transporting chairs to the market
d)Selling chairs to customers
Date posted: September 26, 2019. Answers (1)
- Kamwaru private company recently joined the Nairobi stock Exchange. Describe five benefits of such a decision(Solved)
Kamwaru private company recently joined the Nairobi stock Exchange. Describe five benefits of such a decision
Date posted: September 26, 2019. Answers (1)
- The following trial balance belongs to Kipevu trades as at 30th June, 2004.
REQUIRED
(i)Prepare a trading profit and loss account
(ii)Prepare a balance sheet as at 30th...(Solved)
The following trial balance belongs to Kipevu trades as at 30th June, 2004.
REQUIRED
(i)Prepare a trading profit and loss account
(ii)Prepare a balance sheet as at 30th June 2004
Date posted: September 26, 2019. Answers (1)
- Karemi owns a bakery in Kitale town. Explain five ways why he carried out division of labour
in the process of baking bread in his factory.(Solved)
Karemi owns a bakery in Kitale town. Explain five ways why he carried out division of labour
in the process of baking bread in his factory.
Date posted: September 26, 2019. Answers (1)
- Tango limited wishes to promotes its products through advertising. Mention any four ethical issues it must consider before engaging in advertising.(Solved)
Tango limited wishes to promotes its products through advertising. Mention any four ethical issues it must consider before engaging in advertising.
Date posted: September 25, 2019. Answers (1)
- Highlight four reasons why a development plan is important to a country.(Solved)
Highlight four reasons why a development plan is important to a country.
Date posted: September 25, 2019. Answers (1)
- Identify four differences between a supermarket and hypermarket.(Solved)
Identify four differences between a supermarket and hypermarket.
Date posted: September 25, 2019. Answers (1)
- For each of the following cases, identify the motives for holding money
a) To meet daily transport expenses
b) To meet any unforeseen circumstances
c) To take advantage...(Solved)
For each of the following cases, identify the motives for holding money
a) To meet daily transport expenses
b) To meet any unforeseen circumstances
c) To take advantage of fall in share prices
d) To pay for any food requirements
Date posted: September 25, 2019. Answers (1)
- Outline four circumstances under which a trader would use porters to transport goods.(Solved)
Outline four circumstances under which a trader would use porters to transport goods.
Date posted: September 25, 2019. Answers (1)