i. Parastatals/ public coporations
ii. Public limited companies/ private limited companies
iii. Sole proprietorship.
iv. Private limited companies
maurice.mutuku answered the question on November 7, 2019 at 06:29
- A manufacturing company operates an imprest of sh.10,000. On 1/6/2013 the petty cashier had a balance of sh. 4000. She received a reimbursement to restore...(Solved)
A manufacturing company operates an imprest of sh.10,000. On 1/6/2013 the petty cashier had a balance of sh. 4000. She received a reimbursement to restore it on 5/6/2013.
The following transactions took place during the month:
June 8 Paid Amos a creditor sh. 500
June 9 Paid postage sh. 300
June 10 Paid for cleaning for sh. 480
June 11 Bought stamps for sh. 180
June 12 Paid for cleaning sh. 750
June 13 Paid for travelling sh. 400
June 14 Paid for tea leaves sh. 450
June 15 Paid for stationery sh. 450
Required:
Prepare the petty cash book for the manufacturing company for the month of June 2013
with the following analysis column.
Travelling, cleaning, stationery, tea, postage, ledger account.
Date posted: October 31, 2019. Answers (1)
- The following account balances were extracted from the books of Maisha Traders as at 30th June 2013.
Prepare a trial balance for the business.
(Solved)
The following account balances were extracted from the books of Maisha Traders as at 30th June 2013.
Prepare a trial balance for the business.
Date posted: October 31, 2019. Answers (1)
- The following is a list of source documents. Indicate the book of original entry related to each document.(Solved)
The following is a list of source documents. Indicate the book of original entry related to each document.
Date posted: October 31, 2019. Answers (1)
- The following information was obtained from the books of Lulu Traders on 31/12/2012.
Kshs
Purchases ...(Solved)
The following information was obtained from the books of Lulu Traders on 31/12/2012.
Kshs
Purchases 1,350,000
Opening stock 170,000
Gross profit 200,000
Margin 20%
Calculate:
a)Cost of sales
b)Closing stock
Date posted: October 31, 2019. Answers (1)
- Name four sources of energy which are environmentally friendly. (Solved)
Name four sources of energy which are environmentally friendly.
Date posted: October 31, 2019. Answers (1)
- Study the cash book below and answer the questions that follow:
a)Balance the cash book as at 11.1.014.
b)State the transactions that took place on:
i)5.1.014
iv)State...(Solved)
Study the cash book below and answer the questions that follow:
a)Balance the cash book as at 11.1.014.
b)State the transactions that took place on:
i)5.1.014
ii)8.1.014
iii)10.1.014
iv)State the name used to refer to the entry on 10.1.014
Date posted: October 31, 2019. Answers (1)
- Mjengo Traders had the following assets and liabilities as at January 2014.
Furniture and equipment 350,000
Debtors ...(Solved)
Mjengo Traders had the following assets and liabilities as at January 2014.
Furniture and equipment 350,000
Debtors 45,000
Stock 25,000
Cash 7,500
Creditors 48,000
i)Additional capital introduced during the year was Ksh 24,000
ii)Drawings made during the year were Ksh 20,000
iii)Net profit was Ksh 34,500
Determine the capital as at 31.12.2014.
Date posted: October 31, 2019. Answers (1)
- In the spaces provided write decrease, increase or no effect to show the effects of each one of the following transactions on the assets, liabilities...(Solved)
In the spaces provided write decrease, increase or no effect to show the effects of each one of the following transactions on the assets, liabilities and capital.
Date posted: October 31, 2019. Answers (1)
- The following is an extract of a cashbook.
Determine the figures represented by W, X, Y and Z.
(Solved)
The following is an extract of a cashbook.
Determine the figures represented by W, X, Y and Z.
Date posted: October 21, 2019. Answers (1)
- The following information relates to Benja Retail Shop as at 31st December, 2006.
Shs.
Opening stock 80,000
Closing stock ...(Solved)
The following information relates to Benja Retail Shop as at 31st December, 2006.
Shs.
Opening stock 80,000
Closing stock 100,000
Sales 325,000
Rate of stock turnover 3 times
Calculate:
(i)the cost of goods sold.
(ii)the gross profit.
Date posted: October 21, 2019. Answers (1)
- Nzundu and Theku bought a building for Kshs.12,000,000. Nzundu paid Kshs.8,000,000 while Theku paid Kshs.4,000,000. The building was insured for 8,000,000 against the...(Solved)
Nzundu and Theku bought a building for Kshs.12,000,000. Nzundu paid Kshs.8,000,000 while Theku paid Kshs.4,000,000. The building was insured for 8,000,000 against the risk of fire. Later the building was partially destroyed by fire to a tune of Kshs.6,000,000.
(a) State the amount of compensation likely to be paid by the insurance company.
(b)Calculate the amount of compensation that each one will receive based on their
capital contributions.
Date posted: October 21, 2019. Answers (1)
- Post the following transactions to the relevant “T” accounts.
(a)Started a business by depositing in the bank a cheque of Shs.10,000
on 2nd January 2011.
(b)Withdrew cash...(Solved)
Post the following transactions to the relevant “T” accounts.
(a)Started a business by depositing in the bank a cheque of Shs.10,000
on 2nd January 2011.
(b)Withdrew cash Shs.2000 from the bank for business use on 5th January 2011.
(c)Ngithi a debtor paid Shs.4000 in cash on 10th January 2011.
(d)Withdrew cash Sh.1,000 from the business for personal use on 16th January 2011.
Date posted: October 21, 2019. Answers (1)
- In each of the following cases state the type of inflation described.
a)A rise in prices due to an increase in money supply
b)A rise in prices...(Solved)
In each of the following cases state the type of inflation described.
a)A rise in prices due to an increase in money supply
b)A rise in prices due to an increase in the prices of factors of production.
c)A rise in price due to buying expensive goods from foreign countries.
d)A rises from decision by firms to increase their profit margins by increasing prices
of their products.
Date posted: October 21, 2019. Answers (1)
- Musengo hardware dealers had the following trial balance for as 31st December, 2014.
Closing stock was valued at Ksh. 55, 000.
Required:
Trading, profit and loss account...(Solved)
Musengo hardware dealers had the following trial balance for as 31st December, 2014.
Closing stock was valued at Ksh. 55, 000.
Required:
Trading, profit and loss account for the year ended 31/12/2014.
Date posted: October 17, 2019. Answers (1)
- The following transactions for the month of June 2013 were extracted from the books of Kyondoni Retail Traders
June 1st Received invoice number 122 valued Kshs....(Solved)
The following transactions for the month of June 2013 were extracted from the books of Kyondoni Retail Traders
June 1st Received invoice number 122 valued Kshs. 10,000 from Onyango
June 5th Received invoice number 345 worth Kshs. 8,400 from Pendo Traders.
June 16th Received invoice number 207 worth Kshs. 15,000 from Jasho Traders.
June 26th Received invoice number 500 from Kurasini Traders worth Kshs. 6,500
Required:
i)Prepare the relevant journal for Kyondoni Retail Traders.
ii)Post the transactions to the relevant ledger accounts for Kyondoni Retail Traders.
Do not balance off the ledger accounts.
Date posted: October 17, 2019. Answers (1)
- The following demand schedule shows a change in demand of milk in Kiwi County in a certain period.
Explain five factors that could have caused...(Solved)
The following demand schedule shows a change in demand of milk in Kiwi County in a certain period.
Explain five factors that could have caused the change in demand of milk from Q0 to Q1.
Date posted: October 17, 2019. Answers (1)
- State the account to be debited and the account to be credited for each of the following transactions.(Solved)
State the account to be debited and the account to be credited for each of the following transactions.
Date posted: October 17, 2019. Answers (1)
- Highlight four limitations of an electronic filing system.(Solved)
Highlight four limitations of an electronic filing system.
Date posted: October 17, 2019. Answers (1)
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Outline four measures that the sender of a message should take in order to enhance effective communication.
Date posted: October 17, 2019. Answers (1)
- Mention four circumstances under which the market may be the main factor determining the location of a business enterprise.
(Solved)
Mention four circumstances under which the market may be the main factor determining the location of a business enterprise.
Date posted: October 17, 2019. Answers (1)