- Classify the following as either assets or liabilities.
i)Creditors
ii)Pre- paid insurance
iii)Rent owing
iv)Debtors(Solved)
Classify the following as either assets or liabilities.
i)Creditors
ii)Pre- paid insurance
iii)Rent owing
iv)Debtors
Date posted: October 7, 2019. Answers (1)
- State the ledger in which the following accounts are kept .
i)Drawing
ii)Return inwards
iii)Salary
iv)Patel tenders (Creditor)(Solved)
State the ledger in which the following accounts are kept .
i)Drawing
ii)Return inwards
iii)Salary
iv)Patel tenders (Creditor)
Date posted: October 7, 2019. Answers (1)
- The following information relates to kakamega Traders for the year ended 31st Dec 2014
Carriage on sales ...(Solved)
The following information relates to kakamega Traders for the year ended 31st Dec 2014
Carriage on sales 16000
Gross profit b/d 60000
Dividend received 10000
Insurance 8000
General expenses 6000
Required
Prepare the profit and loss account of Kakamega Traders for the year ended 31st Dec 2014
Date posted: October 7, 2019. Answers (1)
- Name the source document to which each of the following descriptions relate
i) Issued by seller to a buyer for cash paid
ii)Used for processing and authorizing...(Solved)
Name the source document to which each of the following descriptions relate
i) Issued by seller to a buyer for cash paid
ii)Used for processing and authorizing payment
iii)Sent to a credit buyer to demand payment
iv)Used to correct overcharge
Date posted: October 7, 2019. Answers (1)
- State and explain five macro environments and the positive effect of each on the performance of a business.(Solved)
State and explain five macro environments and the positive effect of each on the performance of a business.
Date posted: October 4, 2019. Answers (1)
- Gatundu wholesalers have been buying sugar directly from Mumias Sugar Company. Explain five services offered by Gatundu wholesalers to Mumias Sugar Company.(Solved)
Gatundu wholesalers have been buying sugar directly from Mumias Sugar Company. Explain five services offered by Gatundu wholesalers to Mumias Sugar Company.
Date posted: October 4, 2019. Answers (1)
- Peterson started a handware business on 1st Janaury 2010. The following is a summary of his transaction during the month
Invoices issued
2010 Jan 2: Mwiti Traders kshs...(Solved)
Peterson started a handware business on 1st Janaury 2010. The following is a summary of his transaction during the month
Invoices issued
2010 Jan 2: Mwiti Traders kshs 50,000
Jan 5: Mutahi Traders ksh 150,000
Invoices received
2010 Jan 3: Solomon Traders kshs 80,000
4: Kanake Enterprises kshs 160,000
Required:
Record the above details in the appropriate subsidiary books.
Date posted: October 4, 2019. Answers (1)
- Enter the following transactions in the relevant ledger accounts.
2011
July 1: Opening balances cash ksh 24,000, bank kshs 8000 (cr)
3: Paid...(Solved)
Enter the following transactions in the relevant ledger accounts.
2011
July 1: Opening balances cash ksh 24,000, bank kshs 8000 (cr)
3: Paid rent kshs 4,000 in cash
4: Bought goods worth ksh 8,000 and paid by cheque
5: Deposited ksh. 5,000 from the business into the bank
Date posted: October 4, 2019. Answers (1)
- Record the following transaction in a two column cash book.
2012
Jan 1: Started business with capital of sh20,000 cash and sh 50,000 at bank.
...(Solved)
Record the following transaction in a two column cash book.
2012
Jan 1: Started business with capital of sh20,000 cash and sh 50,000 at bank.
2: Bought stock in cash sh 120,000
3: Cash sales sh 5,000
7: Bought stock worth sh 10,000 on credit.
12: Withdrew cash from bank for office use sh.8,000.
15: Paid rent by cheque shs 6000.
20: Received shs 4000 by cheque from a debtor.
Date posted: October 4, 2019. Answers (1)
- The following balance sheet relates to Uzuri traders
Required:
Calculate (i) Capital owned
(ii) Borrowed capital
(iii) Working capital
(iv) Capital employed (Solved)
The following balance sheet relates to Uzuri traders
Required:
Calculate (i) Capital owned
(ii) Borrowed capital
(iii) Working capital
(iv) Capital employed
Date posted: October 4, 2019. Answers (1)
- Identify the terms given to each of the following statements.
a.Transport goods from producers to consumers
b.Activities carried out with a view of making profit.
c.A person...(Solved)
Identify the terms given to each of the following statements.
a.Transport goods from producers to consumers
b.Activities carried out with a view of making profit.
c.A person who uses a good or service.
d.Increasing the usefulness of a good or services
Date posted: October 4, 2019. Answers (1)
- Discuss the factors that have contributed to declining population growth rate in some developing Countries.(Solved)
Discuss the factors that have contributed to declining population growth rate in some developing Countries.
Date posted: October 4, 2019. Answers (1)
- Highlight reasons why a business would adopt ethical practices while conducting its operations(Solved)
Highlight reasons why a business would adopt ethical practices while conducting its operations
Date posted: October 4, 2019. Answers (1)
- State ways in which a country will benefit from increased business activities(Solved)
State ways in which a country will benefit from increased business activities
Date posted: October 3, 2019. Answers (1)
- Highlight the factors to be considered when constructing consumer price index(Solved)
Highlight the factors to be considered when constructing consumer price index
Date posted: October 3, 2019. Answers (1)
- Define dead –weight debt(Solved)
Define dead –weight debt
Date posted: October 3, 2019. Answers (1)
- The following balances were obtained from the books of sunset traders as at 30th June, 2004(Solved)
The following balances were obtained from the books of sunset traders as at 30th June, 2004
Calculate:
(a) Stock turnover rate.
(b) Return on capital
Date posted: October 3, 2019. Answers (1)
- State the effect of the following transactions on the balance sheet items(Solved)
State the effect of the following transactions on the balance sheet items
Date posted: October 3, 2019. Answers (1)
- State the expenses that are incurred in the process of distributing goods(Solved)
State the expenses that are incurred in the process of distributing goods
Date posted: October 3, 2019. Answers (1)
- State reasons as to why firms work hard to grow(Solved)
State reasons as to why firms work hard to grow
Date posted: October 3, 2019. Answers (1)