- Describe a General Journal.(Solved)
Describe a General Journal.
Date posted: August 17, 2021. Answers (1)
- The following transactions relate to Jasho Enterprises. Enter the transactions in the relevant books of original entry and show the postings made in the general...(Solved)
The following transactions relate to Jasho Enterprises. Enter the transactions in the relevant books of original entry and show the postings made in the general ledger.
2013
1/10/2013 Credit purchases from: Martin Sh. 38,000; Mark Sh. 5,000; Mike Sh. 1,060.
3/10/2013 Credit sales to: Rick Sh. 5,100; Raps Sh. 2,460; Rachael Sh. 3,560.
5/10/2013 Credit purchases from: Matthew Sh. 2,000; Mabel Sh.1,800 ; Marshal Sh. 4,100; Michael Sh.660.
8/10/2013 Credit sales to: Stephen Sh. 3,070; Stella Sh. 2,500; Samuel Sh. 1,850.
12/10/2013 Returns outwards to: Mark Sh. 300; Mike Sh. 160.
14/10/2013 Returns inwards from: Raps Sh. 180; Rachael Sh. 220.
20/10/2013 Credit sales to: Raps Sh. 1,880; Shakes Sh. 3,100; Slim Sh. 4,200.
24/10/2013 Credit purchases from: Peter Sh. 5,500; Patrick Sh. 9,000.
31/10/2013 Returns inwards from: Raps Sh. 270; Rick Sh. 300.
31/10/2013 Returns outwards to: Mabel Sh. 130; Michael Sh. 110.
Date posted: August 17, 2021. Answers (1)
- Describe a Return Outwards Journal.(Solved)
Describe a Return Outwards Journal.
Date posted: August 17, 2021. Answers (1)
- Describe a Return Inwards Journal.(Solved)
Describe a Return Inwards Journal.
Date posted: August 17, 2021. Answers (1)
- Describe a Purchases Journal.(Solved)
Describe a Purchases Journal.
Date posted: August 17, 2021. Answers (1)
- You are to enter up the sales journal from the following details. Post the items to the relevant accounts in the sales ledger and then...(Solved)
You are to enter up the sales journal from the following details. Post the items to the relevant accounts in the sales ledger and then show the transfer to the sales account in the general ledger.
Date posted: August 17, 2021. Answers (1)
- Describe a Sales Journal.(Solved)
Describe a Sales Journal.
Date posted: August 17, 2021. Answers (1)
- Define the term Journalizing.(Solved)
Define the term Journalizing.
Date posted: August 17, 2021. Answers (1)
- Explain a Credit note.(Solved)
Explain a Credit note.
Date posted: August 17, 2021. Answers (1)
- Explain a Purchase Invoice.(Solved)
Explain a Purchase Invoice.
Date posted: August 17, 2021. Answers (1)
- What is a Sales Invoice?(Solved)
What is a Sales Invoice?
Date posted: August 17, 2021. Answers (1)
- State the steps which the accounting cycle comprises of.(Solved)
State the steps which the accounting cycle comprises of.
Date posted: August 17, 2021. Answers (1)
- The following transactions relate to Kencom Enterprises. You are required to complete the double entry in the relevant accounts for the month of May, 2013.(Solved)
The following transactions relate to Kencom Enterprises. You are required to complete the double entry in the relevant accounts for the month of May, 2013.
01/05/2013: Started business by depositing Ksh 200,000 in the bank.
02/05/2013: Purchased goods worth Ksh 17,500 on credit from MM Wholesalers.
03/05/2013: Bought Equipment for Ksh 15,000 paying by cheque.
05/05/2013: Sold goods for cash worth Ksh 27,500.
06/05/2013: Bought goods on credit worth Ksh 11,400 from Pp Shah.
10/05/2013: Paid rent by cash Ksh 1,500.
12/05/2013: Bought stationery for Ksh 2,700, paying in cash.
18/05/2013: Goods returned to MM Wholesalers were amounting to Ksh 2,300.
21/05/2013: Received rent by cheque for Ksh 500.
23/05/2013: Sold goods on credit to Unity for Ksh 7,700.
24/05/2013: Bought a motor vehicle paying by cheque Ksh 30,000.
30/05/2013: Paid the wages by cash amounting to Ksh 11,700.
31/05/2013: The owner made cash drawings for personal use worth Ksh 4,400.
Date posted: August 17, 2021. Answers (1)
- Explain the accounts that record any decrease in stock.(Solved)
Explain the accounts that record any decrease in stock.
Date posted: August 17, 2021. Answers (1)
- State and explain two accounts that record any increase in stock.(Solved)
State and explain two accounts that record any increase in stock.
Date posted: August 17, 2021. Answers (1)
- Explain the Accounting for Expenses.(Solved)
Explain the Accounting for Expenses.
Date posted: August 17, 2021. Answers (1)
- Explain the Accounting for Income.(Solved)
Explain the Accounting for Income.
Date posted: August 17, 2021. Answers (1)
- Explain the Accounting for Purchases.(Solved)
Explain the Accounting for Purchases.
Date posted: August 17, 2021. Answers (1)
- Explain the Accounting for Sales.(Solved)
Explain the Accounting for Sales.
Date posted: August 17, 2021. Answers (1)
- Prepare Asset, Liability and Capital Accounts for Michael who had the following transactions for the month of January, 20x3.
01/01/2013: Started business by depositing Ksh 500,000...(Solved)
Prepare Asset, Liability and Capital Accounts for Michael who had the following transactions for the month of January, 20x3.
01/01/2013: Started business by depositing Ksh 500,000 in the bank.
02/01/2013: Purchased a Motor Vehicle paying by cheque Ksh 120,000.
05/01/2013: Purchased Fixtures & Fittings Ksh 40,000 on credit from ABC Ltd.
08/01/2013: Purchased another Motor Vehicle on credit from XYZ Ltd for Ksh 80,000.
12/01/2013: Withdrew Ksh 10,000 from the bank and put it into the cash till.
15/01/2013: Purchased extra Fixtures & Fittings paying by cash Ksh 6,000.
19/01/2013: Paid XYZ Ltd by cheque Ksh 80,000.
21/01/2013: Received a loan of Ksh 100,000 in cash from KK financers.
25/01/2013: Deposited cash amount of Ksh 80,000 into the bank account.
30/01/2013: Purchased more Fixtures & Fittings by cheque worth Ksh 30,000.
Date posted: August 17, 2021. Answers (1)