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3307 Questions  View: All | Solved | Unsolved

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• The following transactions took place in the business of Darasile Traders in Kisumu year 2013.July 1^st: Started business with capital in cash Kshs.150,000.July 2^th: Opening...(Solved)
  

  The following transactions took place in the business of Darasile Traders in Kisumu year 2013. July 1^st: Started business with capital in cash Kshs.150,000. July 2^th: Opening a bank account and deposited Kshs.30,000. July 3^th: Bought buildings in cash Kshs.60,000. July 4^th: Borrowed a loan in cash Kshs.20,000. July 5^th: Bought stationery by cheque worth Kshs.6,000. July 6^th: Repaid part of the loan by cheque Kshs.10,000. Required: (i) Record the above transactions in their various ledger accounts. (ii) Prepare a trial balance.

  Date posted: September 4, 2019.  

• The following information relates to Murang‘a traders for the year ended 30^th September 2006. Prepare the business trading account for the year ended 30^th Sep 2006.(Solved)
  

  The following information relates to Murang‘a traders for the year ended 30^th September 2006. Prepare the business trading account for the year ended 30^th Sep 2006.

  Date posted: September 4, 2019.  

• The following information relates to Kuwa‘s business for the year ended 31st May 2010. Net profit Sh.20,000 Working capital Sh.30,000 Return on capital 20% Employed Determine the value of: (a) Capital...(Solved)
  

  The following information relates to Kuwa‘s business for the year ended 31st May 2010. Net profit Sh.20,000 Working capital Sh.30,000 Return on capital 20% Employed Determine the value of: (a) Capital employed. (b) Fixed assets.

  Date posted: September 4, 2019.  

• Identify the legislation meant to protect consumers that each of the following description refers to. Description Legislation (a) Ensures that traders or producers do not cheat...(Solved)
  

  Identify the legislation meant to protect consumers that each of the following description refers to. Description Legislation (a) Ensures that traders or producers do not cheat consumers by giving false descriptions of goods. (b) Prohibits traders and manufacturers from including substance that might harm consumers in a product. (c) Ensures that all weighing equipment are correct and accurate. (d) Ensures that the landlord‘s do not overcharge their tenants.

  Date posted: September 4, 2019.  

• Indicate the type of journal in which each of the following transactions would be recorded.(Solved)
  

  Indicate the type of journal in which each of the following transactions would be recorded.

  Date posted: September 4, 2019.  

• Write the account to debit and credit in the following transactions written below.(Solved)
  

  Write the account to debit and credit in the following transactions written below.

  Date posted: September 4, 2019.  

• Indicate the type of insurance losses described by the following circumstances. (a) Matter insured is not completely destroyed but cost of salvage is more than the...(Solved)
  

  Indicate the type of insurance losses described by the following circumstances. (a) Matter insured is not completely destroyed but cost of salvage is more than the wreckage. (b) Loss occurring by deliberate action of the ship master to save the screw. (c) Loss occurring on a ship accidentally. (d) Loss occurring and the matter insured is completely lost.

  Date posted: September 4, 2019.  

• The following information relate to Sika Investment Ltd for the year ended 30^th June 1997. Required: Prepare Sika Investment Ltd balance sheet as at 30^th June 1997.(Solved)
  

  The following information relate to Sika Investment Ltd for the year ended 30^th June 1997. Required: Prepare Sika Investment Ltd balance sheet as at 30^th June 1997.

  Date posted: September 4, 2019.  

• Highlight four reasons why mail order business is not very popular in Kenya.(Solved)
  

  Highlight four reasons why mail order business is not very popular in Kenya.

  Date posted: September 4, 2019.  

• Highlight four advantages of having inland container depots (ICDS) in Nairobi, Kisumu, Eldoret and Malaba.(Solved)
  

  Highlight four advantages of having inland container depots (ICDS) in Nairobi, Kisumu, Eldoret and Malaba.

  Date posted: September 4, 2019.  

• The following trial balance was extracted from the Books of Kabati Traders on December 31^st 2012. Stock on 31^st December 2012 Sh. 35,000 Prepare the Trading, Profit...(Solved)
  

  The following trial balance was extracted from the Books of Kabati Traders on December 31^st 2012. Stock on 31^st December 2012 Sh. 35,000 Prepare the Trading, Profit and Loss Account for the period ended 31^st December 2012 and a balance sheet as at that date.

  Date posted: September 4, 2019.  

• On 1^st July 2011, Maranga had cash at Bank sh. 136,500 and cash in hand sh. 3,250. (Solved)
  

  On 1^st July 2011, Maranga had cash at Bank sh. 136,500 and cash in hand sh. 3,250. During the month, the following transactions took place. July 2: Cash sales Sh. 42,630 paid directly into bank. July 3: Received a cheque for Sh. 14,100 from Murungi in full settlement of a debt. July 8: Bought goods for Sh. 26,240 and paid by cheque. July 12: Cash sales 42,450. July 14: Paid Ochako by cheque Sh. 23,750 in full settlement of his account less 5% cash discount. July 15: Paid wages Sh. 24,000 in cash. July 16: Withdrew sh. 36,000 from bank for office use. July 18: Bought stationary in cash Sh. 750. July 20: Cheque received from Murungi was dishonoured. July 28: Paid salaries by cheque for Sh. 48,600. July 30: All cash was banked except Sh. 5,000. Required: Prepare a Three-Column Cashbook duly balanced.

  Date posted: September 3, 2019.  

• For each of the following situations, name the most suitable means of payment to be used.(Solved)
  

  For each of the following situations, name the most suitable means of payment to be used.

  Date posted: September 3, 2019.  

• Indicate using a tick (v) the type of balance that each of the following accounts usually has.(Solved)
  

  Indicate using a tick (√) the type of balance that each of the following accounts usually has.

  Date posted: September 3, 2019.  

• The following information relates to Amani Traders for the period ended 30^th April 2012.Prepare Amani Traders‘ Trading Account.(Solved)
  

  The following information relates to Amani Traders for the period ended 30^th April 2012. Prepare Amani Traders‘ Trading Account.

  Date posted: September 3, 2019.  

• Using a diagram illustrate the effects of a positive shift of a demand curve on the equilibrium point, price and quantity.(Solved)
  

  Using a diagram illustrate the effects of a positive shift of a demand curve on the equilibrium point, price and quantity.

  Date posted: September 3, 2019.  

• Using a well labelled diagram, illustrate movement along the demand curve.(Solved)
  

  Using a well labelled diagram, illustrate movement along the demand curve.

  Date posted: September 3, 2019.  

• Below are some of the factors that influence the operations of a business. Indicate with a tick (v) in the appropriate column the business environment...(Solved)
  

  Below are some of the factors that influence the operations of a business. Indicate with a tick (√) in the appropriate column the business environment associated with each of the factor.

  Date posted: September 3, 2019.  

• Highlight FOUR Positive effects of a declining population.(Solved)
  

  Highlight FOUR Positive effects of a declining population.

  Date posted: September 3, 2019.  

• State FOUR causes of structural inflation.(Solved)
  

  State FOUR causes of structural inflation.

  Date posted: September 3, 2019.  

• In the spaces provided, indicate whether each of the following statements relate to preference shares or ordinary shares. Statement.............................................. Types of shares (i) Has voting rights (ii) Rate...(Solved)
  

  In the spaces provided, indicate whether each of the following statements relate to preference shares or ordinary shares. Statement.............................................. Types of shares (i) Has voting rights (ii) Rate of dividend is fixed (iii) Considered first in liquidation (iv) Represent ownership

  Date posted: September 3, 2019.  

• The following trial balance was extracted from the books Mzalendo traders on 30^th April 2005. Stock at 30^th April 2005 was 19,980 Required: Prepare trading, profit and loss...(Solved)
  

  The following trial balance was extracted from the books Mzalendo traders on 30^th April 2005. Stock at 30^th April 2005 was 19,980 Required: Prepare trading, profit and loss account for the year ended 30th April 2005.

  Date posted: September 3, 2019.  

• The following information was extracted from the books of Amani traders on. Prepare Trial Balance of Amani traders for the month ended 31^st December 2014.(Solved)
  

  The following information was extracted from the books of Amani traders on. Prepare Trial Balance of Amani traders for the month ended 31^st December 2014.

  Date posted: September 3, 2019.  

• The average consumer price for a 90kg bag of maize for the year 2012 and 2013 is shown below.(Solved)
  

  The average consumer price for a 90kg bag of maize for the year 2012 and 2013 is shown below. Year 2012................. 2013 Prices Ksh. 3000.............. Ksh. 4000 Calculate the increase in Consumer Price Index using 2012 as the base year.

  Date posted: September 3, 2019.  

• The following is an extract of a bank account of Komu traders for the month of June 2015. State the transactions that took place on the...(Solved)
  

  The following is an extract of a bank account of Komu traders for the month of June 2015. State the transactions that took place on the following dates: (a) June 5: (b) June 10: (c) June 20: (d) June 25:

  Date posted: September 3, 2019.  

• On 1^st July 2012, Mara traders had Sh.6,000 cash in hand and bank overdraft of Sh.2,000. During the month the following transactions took place:2012 July 2:...(Solved)
  

  On 1^st July 2012, Mara traders had Sh.6,000 cash in hand and bank overdraft of Sh.2,000. During the month the following transactions took place:2012 July 2: Received cheques from debtors totaling to Sh.50,000 July 5: Paid rent Sh.2,000 cash. July 15: Withdrew Sh.5,000 from the bank for personal use. July 25: Banked all the cash except Sh.1000 Prepare a Two-column Cash Book for the month.

  Date posted: September 3, 2019.  

• Indicate whether each of the following factors influence demand or supply of a commodity.(Solved)
  

  Indicate whether each of the following factors influence demand or supply of a commodity.

  Date posted: September 3, 2019.  

• State four reasons why short message services (SMS) is replacing letters as a way of communication.(Solved)
  

  State four reasons why short message services (SMS) is replacing letters as a way of communication.

  Date posted: September 3, 2019.  

• State the unit of carriage for each of the following modes of transport.(Solved)
  

  State the unit of carriage for each of the following modes of transport.

  Date posted: September 3, 2019.  

• Ndovu bought 200 blankets at Sh.500 each on credit. The terms of sale were 20% trade discount, 10% quantity discount and 5% cash discount if...(Solved)
  

  Ndovu bought 200 blankets at Sh.500 each on credit. The terms of sale were 20% trade discount, 10% quantity discount and 5% cash discount if payment is made within two weeks. Calculate the amount paid if payment is made after one week.

  Date posted: September 3, 2019.