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3307 Questions  View: All | Solved | Unsolved

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• The following statement shows the various level of economic integration. Against this statements, give the level that suits each:(Solved)
  

  The following statement shows the various level of economic integration. Against this statements, give the level that suits each:

  Date posted: April 4, 2019.  

• The table below gives descriptions of some documents used in international trade complete the table, by indicating the name of the document that corresponds to each...(Solved)
  

  The table below gives descriptions of some documents used in international trade complete the table, by indicating the name of the document that corresponds to each description

  Date posted: April 4, 2019.  

• Highlight four factor that may hinder the success of East African Co-operation (E.A.C)(Solved)
  

  Highlight four factor that may hinder the success of East African Co-operation (E.A.C)

  Date posted: April 4, 2019.  

• A country’s domestic currency has been depreciating over time. Highlight five disadvantages of this to the country(Solved)
  

  A country’s domestic currency has been depreciating over time. Highlight five disadvantages of this to the country.

  Date posted: April 4, 2019.  

• Differentiate between progressive and regressive taxation giving an example of each(Solved)
  

  Differentiate between progressive and regressive taxation giving an example of each

  Date posted: April 4, 2019.  

• Match the following types of taxes with the appropriate description given below:- Corporate tax, Customs duty, Estate duty, Excise duty(Solved)
  

  Match the following types of taxes with the appropriate description given below:- Corporate tax, Customs duty, Estate duty, Excise duty

  Date posted: April 4, 2019.  

• Outline four short comings of a country borrowing heavily from internal and external sources(Solved)
  

  Outline four short comings of a country borrowing heavily from internal and external sources

  Date posted: April 4, 2019.  

• Mention four ways in which individuals can hold money(Solved)
  

  Mention four ways in which individuals can hold money

  Date posted: April 4, 2019.  

• E-banking is a method of banking through electronic systems. Give four reasons to account for the rising popularity of this banking system(Solved)
  

  E-banking is a method of banking through electronic systems. Give four reasons to account for the rising popularity of this banking system

  Date posted: April 4, 2019.  

• Identify the motive of holding money in each of the circumstances below:- (a) Need to hold money to cater for future unforeseen eventualities (b) Need to have...(Solved)
  

  Identify the motive of holding money in each of the circumstances below:- (a) Need to hold money to cater for future unforeseen eventualities (b) Need to have money to cater for daily expenses (c) Need to have money with hope that prices will fall in future in order to purchase more

  Date posted: April 4, 2019.  

• Give four circumstances under which a trader would operate a fixed deposit account(Solved)
  

  Give four circumstances under which a trader would operate a fixed deposit account

  Date posted: April 4, 2019.  

• Highlight four differences between a balance sheet and statement of affairs(Solved)
  

  Highlight four differences between a balance sheet and statement of affairs

  Date posted: April 4, 2019.  

• On 1^st January 2009, Rodi Traders had a capital of shs 550 000 at the end of the year. The following balances were available Items ...(Solved)
  

  On 1^st January 2009, Rodi Traders had a capital of shs 550 000 at the end of the year. The following balances were available Items 31.12.2009 Shs. Creditors 50 000 Debtors 30 000 Bank overdraft 80 000 Buildings 870 000 Rent due 10 000 Salaries prepaid 10 000 i) Prepare statement of affairs as at 31.12.2009 ii) Determine the net profit for the year

  Date posted: April 4, 2019.  

• On 31^st January 2004, Maleya Traders had a capital of Kshs.65000. At the end of the year, the following balances were available:- ...(Solved)
  

  On 31^st January 2004, Maleya Traders had a capital of Kshs.65000. At the end of the year, the following balances were available:- Kshs. Stock 8,000 Creditors 6,000 Cash at bank 4,000 Premises 90,000 Prepare a statement of affairs on 31^st December 2004

  Date posted: April 4, 2019.  

• The bookkeeper of Chacha Traders extracted the following information form the accounting records:- ...(Solved)
  

  The bookkeeper of Chacha Traders extracted the following information form the accounting records:- 1/1/2009 31/12/2009 Suppliers 445,000 620,000 Discount received - 12,000 Purchases returns - 25,000 During the year ended 31/12/2009, suppliers were paid shs.1,400,000 while cash purchases Amounted to shs.800,000. Determine the purchase for the year

  Date posted: April 4, 2019.  

• The following information was obtained from Maganda Enterprises for the year ended 31st Dec 2003:- Opening stock kshs.40,000 Purchases ...(Solved)
  

  The following information was obtained from Maganda Enterprises for the year ended 31st Dec 2003:- Opening stock kshs.40,000 Purchases kshs.400,000 Gross profit kshs. 100,000 Goods were sold at a marked-up of 25% Required; Calculate: i) Sales for the year ii) Rate of stock turn over

  Date posted: April 4, 2019.  

• The following balances were extracted from the books of Chombo wholesalers for the year ended 31^st December, 2009 Calculate;- a) Margin ...(Solved)
  

  The following balances were extracted from the books of Chombo wholesalers for the year ended 31^st December, 2009 Calculate;- a) Margin b) Current ratio c) Rate of Stock turnover

  Date posted: April 4, 2019.  

• The following balances were extracted from the books of Shah Traders on 30^th June, 2010 Closing stock was Kshs. 70,000 as at 30th June, 2010. Prepare...(Solved)
  

  The following balances were extracted from the books of Shah Traders on 30^th June, 2010 Closing stock was Kshs. 70,000 as at 30th June, 2010. Prepare the trading account for the period ended 30^th June, 2010

  Date posted: April 4, 2019.  

• The following relates to Atis traders Stock (1-7-2007) shs. 22,000 Purchases ...(Solved)
  

  The following relates to Atis traders Stock (1-7-2007) shs. 22,000 Purchases 100,000 Mark –up 10% Stock (30-6-2008) 26,000 Prepare her trading account

  Date posted: April 4, 2019.  

• The following balances were extracted from the books of Wanga traders as at 30^th June,2009 Current assets 320000 Capital ...(Solved)
  

  The following balances were extracted from the books of Wanga traders as at 30^th June,2009 Current assets 320000 Capital 525000 Net profit 95000 Creditors 88200 Accrued expenses 10800 Calculate: a) Working capital b) Return on capital

  Date posted: April 4, 2019.  

• The following information relates to Mandu enterprises limited Stock (1.1.2009) 40000 Stock (31.1.2009) 60000 Purchases ...(Solved)
  

  The following information relates to Mandu enterprises limited Stock (1.1.2009) 40000 Stock (31.1.2009) 60000 Purchases 500000 Margin 20% Prepare Mandu Enterprises Limited Trading account for the year ended 31^st December, 2009

  Date posted: April 3, 2019.  

• The following information related to Virusi Trader for the year ended June 28^th 2009 ...(Solved)
  

  The following information related to Virusi Trader for the year ended June 28^th 2009 Shs Sales 5 400 000 Expenses 800 000 Mark up ration 2:3 Stock turnover ratio 6times Required:- Calculate: i) Gross profit ii) Cost of sales iii) Net profit

  Date posted: April 3, 2019.  

• The information below relates to Half-Bilha Traders for the year ended 30th September 2009; Net sales 300,000 Cost of sales...(Solved)
  

  The information below relates to Half-Bilha Traders for the year ended 30th September 2009; Net sales 300,000 Cost of sales 150,000 Bad debts 30,000 Wages 25,000 Discount received 25,000 Rent 6,000 Carriage inwards 18,000 Carriage outwards 12,000 Prepare a profit and loss account for the business

  Date posted: April 3, 2019.  

• The following information was extracted form the books of Bondo Traders as at 31^st Dec. 2004 Opening stock 2,500 Purchases ...(Solved)
  

  The following information was extracted form the books of Bondo Traders as at 31^st Dec. 2004 Opening stock 2,500 Purchases 46,000 Closing stock 1,500 Mark up 20% Prepare a trading account.

  Date posted: April 3, 2019.  

• The following information relates to Kafupi business enterprise:- Average stock Shs.120,000 Rate of stock turnover 3 times Margin ...(Solved)
  

  The following information relates to Kafupi business enterprise:- Average stock Shs.120,000 Rate of stock turnover 3 times Margin 25% From the data above, determine; (a) The cost of goods (b) Gross profit (c) Sales

  Date posted: April 3, 2019.  

• The following account balances were obtained from Omenda traders on 31st December 2002 ...(Solved)
  

  The following account balances were obtained from Omenda traders on 31st December 2002 Kshs. Stock (1/1/2002) 120,000 Purchases 170,000 Return inwards 30,000 Stock (31/12/2002) 110,000 Sales 300,000 Calculate: (i) Margin (ii) Rate of stock turn over

  Date posted: April 3, 2019.  

• The following balances were extracted from the books of Masai retailers on 14^th July 2000 ...(Solved)
  

  The following balances were extracted from the books of Masai retailers on 14^th July 2000 Shs. Opening stock 30 000 Purchases 800 000 Closing stock ? Sales 1 000 000 Return inwards 20 000 Return outwards 15 000 Maasai retailers sell goods at a mark up of 20% Prepare the trading account for the period ended 14^th July 2000

  Date posted: April 3, 2019.  

• The following information was extracted from the books of Klub traders ...(Solved)
  

  The following information was extracted from the books of Klub traders Kshs. Opening stock 160,000 Closing stock 200,000 Purchases 1,800,000 Margin 20% Calculate klubs sales

  Date posted: April 3, 2019.  

• From the following information prepare debtors control account for the year ended 31^st Dec 2007 ...(Solved)
  

  From the following information prepare debtors control account for the year ended 31^st Dec 2007 Shs Debtors balance 1-1-07 11,000 Credit sales ? Bad debts written off 5,000 Return inwards 1,600 Receipts from debtors 31,000 Dishonoured cheque 2,800 Discount allowed 3,400 Debtors balance 31-12-07 25,300

  Date posted: April 3, 2019.  

• State the journal that deals with each of the following types of transactions(Solved)
  

  State the journal that deals with each of the following types of transactions TYPE OF TRANSACTION JOURNAL i) Credit sales ii) Return of goods by customers iii) Return of goods to suppliers iv) Cash cheques received v) Credit purchases vi) Sale of fixed assets on credit vii) Purchase of a motor van on credit from general motors viii) Correction of errors

  Date posted: April 3, 2019.