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A salesman earns a fixed monthly basic salary and a commission that is directly proportional to the number of units sold in the month.
(Solved)
Date posted:
May 26, 2021
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Answers (1)
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An estate agent receives commission on the sale of property as follows:
5% on the first sh 100,000 on the sale price
3% on the remainder of...
(Solved)
An estate agent receives commission on the sale of property as follows:
5% on the first sh 100,000 on the sale price
3% on the remainder of the sale price
Required.
The sale price of the property where the agent receives a total commission of sh 391,000.
Date posted:
May 26, 2021
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Answers (1)
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Distinguish between a trade discount and a cash discount.
(Solved)
Distinguish between a trade discount and a cash discount.
Date posted:
May 26, 2021
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Answers (1)
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Mary Mutiso bought a posho mill on hire purchase terms. The cash price of the posho mill is Sh. 1,200,000. The hire purchase terms comprise...
(Solved)
Mary Mutiso bought a posho mill on hire purchase terms. The cash price of the posho mill is Sh. 1,200,000. The hire purchase terms comprise a deposit of 25% of the cash price and 12 equal monthly installments of the balance and interest payable. Simple interest is charged on the principal balance at the rate of 12.5 percent per annum.
Required.
i) The amount of each monthly installment.
ii) The amount of savings (if any) that Mary Mutiso would have made if she had paid a deposit of 45% of the cash price and was charged simple interest of 10% per annum.
Date posted:
May 25, 2021
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Answers (1)
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Mr Yusuf Said purchased a grinding machine at a cost of Sh 513,000. The estimated useful life of the machine is 10 years with an...
(Solved)
Mr Yusuf Said purchased a grinding machine at a cost of Sh 513,000. The estimated useful life of the machine is 10 years with an estimated residual value of sh 10,000.
Required.
i) The annual rate of depreciation using the reducing balance method.
ii) The net book value of the machine at the end of the 4th year.
Date posted:
May 25, 2021
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Answers (1)
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The cash price of an article is sh. 9,000. If it is bought on hire purchase terms, a deposit is paid and then a flat...
(Solved)
The cash price of an article is sh. 9,000. If it is bought on hire purchase terms, a deposit is paid and then a flat rate of 15% per annum is charged on the balance.
Required.
Determine the amount of deposit if the hire purchase agreement runs for 2 years and the monthly installment is sh 390.
Date posted:
May 21, 2021
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Answers (1)
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A hawker sells exercise books and pencils in an urban centre. Each exercise book sells at sh 20 and a pencil sells at sh 15....
(Solved)
A hawker sells exercise books and pencils in an urban centre. Each exercise book sells at sh 20 and a pencil sells at sh 15. During the month of October 2011, the hawker's total sales were sh 3,450. Customers bought 5 times as many books as pencils.
Required.
The number of exercise books and pencils sold by the hawker in the month of October 2011.
Date posted:
May 21, 2021
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Answers (1)
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An entrepreneur bought a washing machine on hire purchase. The cash price of the machine was Sh 800,000. An initial deposit of 20% of the...
(Solved)
An entrepreneur bought a washing machine on hire purchase. The cash price of the machine was Sh 800,000. An initial deposit of 20% of the cash price was paid. A flat interest rate of 15% was charged on the outstanding balance for the period of repayment. The balance plus the interest were payable in 36 equal monthly installments. A customer who purchases the machine on cash basis receives a 10% discount on the cash price.
Required.
The amount of money saved if the machine is bought on cash basis.
Date posted:
May 20, 2021
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Answers (1)
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Wakulima cereals board operates warehouses in three different locations Nairobi, Nakuru and Eldoret. The cereals stocked by Wakulima cereals board comprise maize, rice, wheat and...
(Solved)
Wakulima cereals board operates warehouses in three different locations Nairobi, Nakuru and Eldoret. The cereals stocked by Wakulima cereals board comprise maize, rice, wheat and beans. The table below shows the inventories of the cereals in the three warehouse locations as at 31 December 2009.
Required.
Using matrix algebra, determine the total estimated value of all the cereals stocked by Wakulima Cereals Board in the three warehouse locations as at 31st December 2009.
Date posted:
May 19, 2021
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Answers (1)
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Jawabu limited manufactures three products namely A, B & C. The company has three outlets X, Y & Z. The data below show the number...
(Solved)
Jawabu limited manufactures three products namely A, B & C. The company has three outlets X, Y & Z. The data below show the number of units of products A, B & C sold in outlets X, Y and Z for the months of September 2010 and October 2010.
Date posted:
May 19, 2021
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Answers (1)
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A company produces 3 products X,Y & Z, which are processed through three departments namely P, Q & R. The table below shows the labour...
(Solved)
A company produces 3 products X,Y & Z, which are processed through three departments namely P, Q & R. The table below shows the labour hours required to produce one unit of each product in each of the departments.
Required
Using the Gaussian elimination method determine the optimal combination of the products that could be produced each month.
Date posted:
May 19, 2021
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Answers (1)
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XYZ limited intends to invest in a particular project whose maximum duration is 9 months. The estimated total profit of the project is given by...
(Solved)
XYZ limited intends to invest in a particular project whose maximum duration is 9 months. The estimated total profit of the project is given by the function.
Date posted:
May 19, 2021
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Answers (1)
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The cost accountant of Kalnet manufacturing ltd. has determined that the total cost and revenue functions vary according to the units produced and sold in...
(Solved)
The cost accountant of Kalnet manufacturing ltd. has determined that the total cost and revenue functions vary according to the units produced and sold in a curvilinear nature. The following table shows the production in units and the associated total revenue and costs.
Date posted:
May 17, 2021
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Answers (1)