From the following transaction write down the account to be debited and the account to be credited. a)Bought good on credit from ABC traders b)Paid for...

      

From the following transaction write down the account to be debited and the account to be credited.
a)Bought good on credit from ABC traders
b)Paid for goods by cheque
c)Received commission on cash
d)Returned goods to Mema traders

  

Answers

---

---

Kavungya answered the question on October 11, 2019 at 08:22

Next: Explain five features that would be considered when establishing a warehouse for imported goods.
Previous: The two elements P and R were separately burned in air, the products gave the results recorded in the table below:

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

Learn High School English on YouTube

Related Questions

---

• Explain five features that would be considered when establishing a warehouse for imported goods.(Solved)
  

  Explain five features that would be considered when establishing a warehouse for imported goods.

  Date posted: October 11, 2019.  Answers (1)

• The following balances were extracted from the books of Kinja traders as at 31st December 2005.(Solved)
  

  The following balances were extracted from the books of Kinja traders as at 31st December 2005.
  
  
  

  Date posted: October 11, 2019.  Answers (1)

• Enter the following transactions in the suitable cash book for Mumbi stores January 1^st opening balance cash 50,000 Bank 100,000 2^nd bought goods from Kimeto on credit...(Solved)
  

  Enter the following transactions in the suitable cash book for Mumbi stores
  January 1^st opening balance cash 50,000
  Bank 100,000
  2^nd bought goods from Kimeto on credit sh. 60,000
  12^th settled Kimeto’s account of sh. 60,000 by cheque after detecting 10% cash discount
  20^th total sales on credit amounted to sh. 50,000
  25^th Received a cheque of sh. 28,500 from Muturi settling his account after deducting 5% cash discount
  30^th transferred cash to the bank leaving a balance of sh. 5,000

  Date posted: October 11, 2019.  Answers (1)

• The table shows some occupation in production .Indicate the level of production associated with each of the following occupations.(Solved)
  

  The table shows some occupation in production .Indicate the level of production associated with each of the following occupations.
  
  

  Date posted: October 11, 2019.  Answers (1)

• Identify four reasons why consumers prepare a scale of preference before spending money on goods and services. (Solved)
  

  Identify four reasons why consumers prepare a scale of preference before spending money on goods and services.

  Date posted: October 11, 2019.  Answers (1)

• Give three ways in which monopolistic competition differs from pure monopoly.(Solved)
  

  Give three ways in which monopolistic competition differs from pure monopoly.

  Date posted: October 11, 2019.  Answers (1)

• Kenya has recently discovered crude oil in Turkana. Outline four advantages of transporting the oil through pipeline.(Solved)
  

  Kenya has recently discovered crude oil in Turkana. Outline four advantages of transporting the oil through pipeline.

  Date posted: October 11, 2019.  Answers (1)

• For each of the following transaction indicate whether it would increase decrease or have no effects on the balance sheet totals. a)Investing more cash in business...(Solved)
  

  For each of the following transaction indicate whether it would increase decrease or have no effects on the balance sheet totals.
  a)Investing more cash in business
  b)Paying creditors in cash
  c)Buying a piece of furniture in cash
  d)Paying a creditor using money from private sources

  Date posted: October 11, 2019.  Answers (1)

• The following information relates to Khadija wholesalers. Capital at the end of the year 2016 was sh. 190, 000, profit sh, 20,000, additional investment sh,...(Solved)
  

  The following information relates to Khadija wholesalers. Capital at the end of the year 2016 was sh. 190, 000, profit sh, 20,000, additional investment sh, 75,000 and drawings were sh.5000. Calculate Khadija wholesalers’ initial capital.

  Date posted: October 11, 2019.  Answers (1)

• On 2nd November 2006 Kinoti received an invoice of Ksh. 12,000.Terms of payment were trade discount 5% and cash discount of 10% if payment is...(Solved)
  

  On 2nd November 2006 Kinoti received an invoice of Ksh. 12,000.Terms of payment were trade discount 5% and cash discount of 10% if payment is made within 30days. Determine the amount paid if payment was made on 28th November 2006.

  Date posted: October 11, 2019.  Answers (1)

• The following balances were extracted from the books of Masomo Entereprises as at 31^st Dec. 2008 Debtors ...(Solved)
  

  The following balances were extracted from the books of Masomo Entereprises as at 31^st Dec. 2008
  Debtors 35000
  Sales 440000
  Expenses 130000
  Discount received 15000
  Purchases 300000
  Discounts allowed 20000
  Carriage inwards 15000
  Creditors 45000
  
  Required a trial balance as at 31^st Dec, 2008

  Date posted: October 11, 2019.  Answers (1)

• Outline four principles of public expenditure.(Solved)
  

  Outline four principles of public expenditure.

  Date posted: October 11, 2019.  Answers (1)

• Mobile phones have become a common means of communication in Kenya today. State four challenges that a trader may encounter when using mobile phones.(Solved)
  

  Mobile phones have become a common means of communication in Kenya today. State four challenges that a trader may encounter when using mobile phones.

  Date posted: October 11, 2019.  Answers (1)

• Outline four benefits that Kenyan government may get as a member of common market for Eastern and Southern Africa (COMESA)(Solved)
  

  Outline four benefits that Kenyan government may get as a member of common market for Eastern and Southern Africa (COMESA).

  Date posted: October 11, 2019.  Answers (1)

• The following balances were extracted from The books of Gaitu Traders for the month ended on 31st march 2005,(Solved)
  

  The following balances were extracted from The books of Gaitu Traders for the month ended on 31st march 2005,
  
  
  
  Prepare trial balance for Gaitu Traders as at 31st march 2005.
  
  

  Date posted: October 11, 2019.  Answers (1)

• The following information relates to Kitui merchants. Stock 1/1/2005 20,000 Stock 31/12/2005 15,000 Purchases 150,000 Mark...(Solved)
  

  The following information relates to Kitui merchants.
  Stock 1/1/2005 20,000
  Stock 31/12/2005 15,000
  Purchases 150,000
  Mark up 20%
  
  Prepare the trading account for the period ended 31/12/2005

  Date posted: October 11, 2019.  Answers (1)

• Outline four circumstances under which manufactures may not sell goods/ services directly to consumers.(Solved)
  

  Outline four circumstances under which manufactures may not sell goods/ services directly to consumers.

  Date posted: October 11, 2019.  Answers (1)

• For each of the following books of original entry indicate the source document used. a)Purchase journal b)Cash payment journal c)Purchase returns journal d)Sales returns journal(Solved)
  

  For each of the following books of original entry indicate the source document used.
  a)Purchase journal
  b)Cash payment journal
  c)Purchase returns journal
  d)Sales returns journal

  Date posted: October 11, 2019.  Answers (1)

• Identify four ways in which consumers can be exploited by traders.(Solved)
  

  Identify four ways in which consumers can be exploited by traders.

  Date posted: October 11, 2019.  Answers (1)

• The following trial balance was extracted from the books of Kwale Traders on 31^st December 2010. Stock on 31^st December 2010 was sh. 20,000 Prepare a...(Solved)
  

  The following trial balance was extracted from the books of Kwale Traders on 31^st December 2010.
  
  Stock on 31^st December 2010 was sh. 20,000
  Prepare a trading, profit and loss A/C for the Year ended 31^st December, 2010.

  Date posted: October 9, 2019.  Answers (1)