Get premium membership and access questions with answers, video lessons as well as revision papers.
- Highlight four benefits to Kenya as a result of being a member of IMF.(Solved)
Highlight four benefits to Kenya as a result of being a member of IMF.
Date posted: October 17, 2019. Answers (1)
- The following information relate to J.’J traders for the year ended 31st Dec 2010
i)Prepare a trading and profit/ loss account for the year ended 31/12/2010.
ii)Calculate;...(Solved)
The following information relate to J.’J traders for the year ended 31st Dec 2010
i)Prepare a trading and profit/ loss account for the year ended 31/12/2010.
ii)Calculate;
a)Current ratio
b)Rate of stock turnover
c)Margin percentage
Date posted: October 11, 2019. Answers (1)
- Highlight five reasons why the output approach underestimates the gross domestic product(Solved)
Highlight five reasons why the output approach underestimates the gross domestic product
Date posted: October 11, 2019. Answers (1)
- Explain five ways in which legal requirements can affect a business and its operations(Solved)
Explain five ways in which legal requirements can affect a business and its operations
Date posted: October 11, 2019. Answers (1)
- Unemployment has been major problem that the Kenyan government has been trying to solve. Explain any five measures that the Kenyan government has taken to...(Solved)
Unemployment has been major problem that the Kenyan government has been trying to solve. Explain any five measures that the Kenyan government has taken to solve this problem.
Date posted: October 11, 2019. Answers (1)
- The following trial balance relates to XYZ ltd.(Solved)
The following trial balance relates to XYZ ltd.
Required:
Prepare XYZ limited Trading, profit and loss account.
Date posted: October 11, 2019. Answers (1)
- Explain five benefits that Kenya enjoys by being a member of the African development Bank.(Solved)
Explain five benefits that Kenya enjoys by being a member of the African development Bank.
Date posted: October 11, 2019. Answers (1)
- On 1st September 2015, Kakamega Traders had shs55, 000 in hand and shs 250,000 in Bank. During the month, the following transactions took place.(Solved)
On 1st September 2015, Kakamega Traders had shs55, 000 in hand and shs 250,000 in Bank. During the month, the following transactions took place.
Required: Prepare Kakamega Traders 3 –column cash book and balance it off.
Date posted: October 11, 2019. Answers (1)
- 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...(Solved)
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
Date posted: October 11, 2019. Answers (1)
- 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 1st opening balance cash 50,000
Bank 100,000
2nd bought goods from Kimeto on credit...(Solved)
Enter the following transactions in the suitable cash book for Mumbi stores
January 1st opening balance cash 50,000
Bank 100,000
2nd bought goods from Kimeto on credit sh. 60,000
12th settled Kimeto’s account of sh. 60,000 by cheque after detecting 10% cash discount
20th total sales on credit amounted to sh. 50,000
25th Received a cheque of sh. 28,500 from Muturi settling his account after deducting 5% cash discount
30th 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 31st Dec. 2008
Debtors ...(Solved)
The following balances were extracted from the books of Masomo Entereprises as at 31st 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 31st Dec, 2008
Date posted: October 11, 2019. Answers (1)