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On January 1st 2006, Mutual Traders had cash in hand Shs.74, 000 and a credit. Bank balance of Shs.500, 000.
During the month the following Transactions...
(Solved)
On January 1st 2006, Mutual Traders had cash in hand Shs.74, 000 and a credit. Bank balance of Shs.500, 000.
During the month the following Transactions took place
2006
January 2 Cash Sales Sh.100, 000
January 3 Paid salaries Shs.203, 000 by cheque
January 6 received a cheque of Shs.153, 600
January 6 from Mwanza after allowing her a cash discount of 40%
55
January 12 Bought office furniture by cheque Shs.170, 000.
January 16 Settled Kamaru’s Account Shs.80, 000 in cash deducting Shs.1, 600
cash discount.
January 18 received a cheque for Shs.300, 000 in respect of sales
January 21 Paid wages Shs.48, 000 in cash.
January 22 Withdrew Shs.60, 000 from the bank for office use.
January 25 Took Shs.10, 000 cash for his son/s birthday to be celebrated at home.
January 28 Received Shs.33, 000 cash from Matoka settlement of his account less Shs.1,320 cash discount.
January 30 Deposited all the money into the bank except Shs.50, 000.
Prepare a 3 column cashbook duly balanced.
Date posted:
February 23, 2019
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Answers (1)
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List 3 types of discounts.
(Solved)
List 3 types of discounts.
Date posted:
February 23, 2019
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Answers (1)
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On 1 March, 2001, mingy traders had Ksh. 13,200 in cash and bank balances of Sh56, 000. Thefollowing transaction took place during the month.2001 2 Cash...
(Solved)
On 1 March, 2001, mingy traders had Ksh. 13,200 in cash and bank balances of Sh56, 000.The
following transaction took place during the month.
2001 2 Cash sales sh. 12,000
12 paid a creditor sh. 8,200
27 received a cheque for sh. 4,500 from debtors
31 paid rent 7,500 in cash
Record the above information in a two column cash book and balance it off.
Date posted:
February 23, 2019
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Answers (1)
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List the uses of two column cash book
(Solved)
List the uses of two column cash book.
Date posted:
February 23, 2019
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Answers (1)
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What is cashbook?
(Solved)
What is cashbook?
Date posted:
February 23, 2019
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Answers (1)
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List some Limitations of a trial balance.
(Solved)
List some Limitations of a trial balance.
Date posted:
February 23, 2019
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Answers (1)
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Define a trial balance.
(Solved)
Define a trial balance.
Date posted:
February 23, 2019
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Answers (1)
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The following table contains information relating to a business A, B, C, and D. Determine the figures represented by W, X and Y.
(Solved)
The following table contains information relating to a business A, B, C, and D. Determine the figures represented by W, X and Y.
Date posted:
February 23, 2019
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Answers (1)
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State FIVE characteristics of a liability.
(Solved)
State FIVE characteristics of a liability.
Date posted:
February 23, 2019
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Answers (1)
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Define Liabilities.
(Solved)
Define Liabilities.
Date posted:
February 23, 2019
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Answers (1)
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What are the current assets?
(Solved)
What are the current assets?
Date posted:
February 22, 2019
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Answers (1)
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Explain what is meant by the term fixed assets.
(Solved)
Explain what is meant by the term fixed assets.
Date posted:
February 22, 2019
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Answers (1)
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State and explain Types of exchange rates.
(Solved)
state and explain Types of exchange rates.
Date posted:
February 22, 2019
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Answers (1)
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List and explain methods of trade restriction
(Solved)
List and explain methods of trade restriction.
Date posted:
February 22, 2019
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Answers (1)
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List the international financial institutions and describe their functions/objectives
(Solved)
List the international financial institutions and describe their functions/objectives.
Date posted:
February 20, 2019
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Answers (1)
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In the spaces provided, indicate with a (x) whether each of the following transactions will increase, decrease or have no effect in the balance sheet.
(Solved)
Date posted:
February 19, 2019
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Answers (1)
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List the documents used in international trade,giving the meaning and the purpose/importance of each.
(Solved)
List the documents used in international trade,giving the meaning and the purpose/importance of each.
Date posted:
February 19, 2019
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Answers (1)
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State and explain the common terms of sale in international trade.
(Solved)
State and explain the common terms of sale in international trade.
Date posted:
February 19, 2019
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Answers (1)
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What is meant by the term terms of sale in international trade?
(Solved)
What is meant by the term terms of sale in international trade?
Date posted:
February 19, 2019
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Answers (1)
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Explain how devaluation helps in correcting the balance of payments disequilibrium?.
(Solved)
Explain how devaluation helps in correcting the balance of payments disequilibrium?.
Date posted:
February 19, 2019
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Answers (1)