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i) Assets - Propert of all kind owned by an individual, business or anyother organization may be fixed or current
ii) Credit transactions. – Where goos or services are bought or sold and payment is made at a later date
iii) Networth of a Business. – refers to owner claim what the owners of a business have contributed in running and sustaining business it constitutes owners contribution plus profits less drawings.
iv) Ledger.- a book of accounts where all transactions are recorded
marto answered the question on October 1, 2019 at 05:46
- Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016(Solved)
Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016.
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.
Date posted: October 1, 2019. Answers (1)
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Date posted: October 1, 2019. Answers (1)
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Date posted: October 1, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
- The following balances were extracted from the books of Mbili Traders for the year ended 31st December, 2014.
...(Solved)
The following balances were extracted from the books of Mbili Traders for the year ended 31st December, 2014.
Kshs
Stock 100,000
Capital 800,000
Debtors 50,000
Creditors 80,000
Cash 10,000
Net Profit 10,000
Bank Overdraft 70,000
Machines 600,000
Furniture 200,000
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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a ................ c...................
b ................ d ..................(Solved)
Study the diagram below on cyclical unemployment and answer it by giving an appropriate term to the letters indicated.
a ................ c...................
b ................ d ..................
Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
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Date posted: September 27, 2019. Answers (1)
- Anyango is employed as a saleslady by Biashara Traders. She is paid a basic salary of Sh.3,000 per month and a commission based on her...(Solved)
Anyango is employed as a saleslady by Biashara Traders. She is paid a basic salary of Sh.3,000 per month and a commission based on her sales as follows:-
1.5% on the first Sh.100,000
2% on the next Sh.50,000
2.5% on the next Sh.75,000
3% on any sales above Sh.225,000
During the year 2009, Anyango received a monthly income of Sh.41,575.
Calculate her total sales for the year 2009 (show all your calculations).
Date posted: September 26, 2019. Answers (1)