Get premium membership and access questions with answers, video lessons as well as revision papers.
? Income from formal and informal employment e.g salaries and allowances.
-Profit made- This includes profit from both the public and private sector enterprises
-Rent- This is income earned from use of land.
- Interest on money borrowed and used.
GDI = wages + profits + interest + rent.
Kavungya answered the question on September 26, 2019 at 08:56
- The following Trial balance was extracted from NDOLO’S STORES on 31st Dec 2009.
Additional information:-
Closing stock was valued at sh. 22,000.
Prepare NDOLO’S STORES; Trading, profit and...(Solved)
The following Trial balance was extracted from NDOLO’S STORES on 31st Dec 2009.
Additional information:-
Closing stock was valued at sh. 22,000.
Prepare NDOLO’S STORES; Trading, profit and loss accounts for year ending 31/12/2009.
Date posted: September 26, 2019. Answers (1)
- Savings and credit cooperatives have been registering an increasing number of members. Explain five reasons for such a development. (Solved)
Savings and credit cooperatives have been registering an increasing number of members. Explain five reasons for such a development.
Date posted: September 26, 2019. Answers (1)
- During a trader’s workshop, a speaker presented a speech on ethical issues in business. Highlight some ethical issues that he may have raised, affecting business.(Solved)
During a trader’s workshop, a speaker presented a speech on ethical issues in business. Highlight some ethical issues that he may have raised, affecting business.
Date posted: September 26, 2019. Answers (1)
- Explain five ways in which the central bank regulates the operations of commercial banks in Kenya.(Solved)
Explain five ways in which the central bank regulates the operations of commercial banks in Kenya.
Date posted: September 26, 2019. Answers (1)
- Study the diagram below and answer the question that follows.
State four factors that may cause the above change from S0S0 to S1S1.(Solved)
Study the diagram below and answer the question that follows.
State four factors that may cause the above change from S0S0 to S1S1.
Date posted: September 26, 2019. Answers (1)
- Outline four ways in which a warehouse is of importance to a manufacturer.(Solved)
Outline four ways in which a warehouse is of importance to a manufacturer.
Date posted: September 26, 2019. Answers (1)
- Give four reasons why electric trains are uncommon in Africa yet it is the common trend in other continents.(Solved)
Give four reasons why electric trains are uncommon in Africa yet it is the common trend in other continents.
Date posted: September 26, 2019. Answers (1)
- The trial balance below relates to Mutua wholesalers and was wrongly prepared. Prepare a correct one.(Solved)
The trial balance below relates to Mutua wholesalers and was wrongly prepared. Prepare a correct one.
Date posted: September 26, 2019. Answers (1)
- The following information was extracted from the books of Kalema Traders on 30th June 11.
Stock on July 1st 2010 - sh. 48,000.00
Stock on...(Solved)
The following information was extracted from the books of Kalema Traders on 30th June 11.
Stock on July 1st 2010 - sh. 48,000.00
Stock on June 30th 2011 – sh 42,000.00
Purchases sh 140,000.00
Sales sh. 205,000.00
Calculate
(i)Cost of goods sold.
(ii)Mark up percentage
Date posted: September 26, 2019. Answers (1)
- Highlight four reasons why a firm may be located close to other firms.(Solved)
Highlight four reasons why a firm may be located close to other firms.
Date posted: September 26, 2019. Answers (1)
- State the form of utility created by the activities listed below.
a)Exchange
b)Processing
c)Transport
d)Warehousing(Solved)
State the form of utility created by the activities listed below.
a)Exchange
b)Processing
c)Transport
d)Warehousing
Date posted: September 26, 2019. Answers (1)
- State whether the following statements relating to private limited companies are true or false.
(Solved)
State whether the following statements relating to private limited companies are true or false.
Date posted: September 26, 2019. Answers (1)
- Outline four functions of retailers which benefit the consumers.(Solved)
Outline four functions of retailers which benefit the consumers.
Date posted: September 26, 2019. Answers (1)
- Give four reasons why a country may find it necessary to raise import duties. (Solved)
Give four reasons why a country may find it necessary to raise import duties.
Date posted: September 26, 2019. Answers (1)
- A wholesaler who buys goods from the producers incurs expenses. Outline four such expenses.(Solved)
A wholesaler who buys goods from the producers incurs expenses. Outline four such expenses.
Date posted: September 26, 2019. Answers (1)
- Highlight four ways commercial banks have contributed to the rural development in Kenya. (Solved)
Highlight four ways commercial banks have contributed to the rural development in Kenya.
Date posted: September 26, 2019. Answers (1)
- The following balances were extracted from the books of Mutua Traders for the year ended 31 Dec 2010 having proffered a trading account.
Required:
a)Prepare...(Solved)
The following balances were extracted from the books of Mutua Traders for the year ended 31 Dec 2010 having proffered a trading account.
Required:
a)Prepare a profit and loss account of Mutua Traders for the year ended 31st Dec 2001
b)A balance sheet as at that date.
Date posted: September 26, 2019. Answers (1)
- Explain five services that are offered by commercial banks to their customers.(Solved)
Explain five services that are offered by commercial banks to their customers.
Date posted: September 26, 2019. Answers (1)
- On 1st January 2012 Manga traders had 180,000 cash in hand and a bank credit balance of Shs.57,500. During the month the following transactions...(Solved)
On 1st January 2012 Manga traders had 180,000 cash in hand and a bank credit balance of Shs.57,500. During the month the following transactions took place.
3rd Jan:Cash sales Shs. 2,800
4th Jan:A debtor settled his accent of sh. 90,00 by cheque
10th Jan:Paid Salaries shs. 40,000 in cash.
12th Jan:Took cash sh. 35,000 to settle on personal debt.
23rd Jan:Received a cheque shs. 8460 from Ouru distribution after deducting 6% cash discount.
24th Jan: Deposits shs. 10000 in the bank from office cash.
25th Jan: Purchased stock worth shs.8950 on credit from Ngumo distributors
26th Jan: Cash sales banked directly shs.38000
27th Jan: A cheque received on 4th from a debtors was dishonored. The bank charged him 2500.
29th Jan: Settled creditors account shs. 6000 b cheque less 3% cash discount.
31st Jan: Bank all cash except shs.40,000
Required:Prepared a three column cash book duly balanced
Date posted: September 26, 2019. Answers (1)
- Open the relevant ledger accounts using the following information.
1/2/2011 Started business with Kshs 10,000 in cash and Ksh 50,000 at bank.
2/2/2011 Bough goods on credit...(Solved)
Open the relevant ledger accounts using the following information.
1/2/2011 Started business with Kshs 10,000 in cash and Ksh 50,000 at bank.
2/2/2011 Bough goods on credit from Lk traders worth Kshs 5,000.
4/2/2011 Withdrew from the bank Kshs 2000 for office use.
Date posted: September 26, 2019. Answers (1)