Get premium membership and access questions with answers, video lessons as well as revision papers.

Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016

      

Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016.

bank.png

During the month of April 2015, the following transactions took place
2015
April 1st sold goods at cost Sh. 2000cash
April 2nd Paid creditors Sh. 8000 cash
April 10th received Sh. 2000 from his debtors in cash
April 15th Bought a motor van for Sh. 35,00 paying by cheque
April 25th purchased goods worth Sh. 15000 and paid by cheque

Required: Prepare a balance sheet as at 25th April 2015.

  

Answers


Martin
assets.png
marto answered the question on October 1, 2019 at 05:44


Next: Benjos was instructed by his teacher while typing a Microsoft word document to replace all the occurrences of the word MS with Microsoft. Highlight the...
Previous: Describe the following terms as used in accounting. i) Assets ii) Credit transactions. iii) Networth of a Business. iv) Ledger.

View More Business Studies Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions