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On March 2007, Doris had cash in hand shs.87,000 and cash at bank shs.25,000. During this
month, the following transactions took place:
March 2nd : Cash sales...
(Solved)
On March 2007, Doris had cash in hand shs.87,000 and cash at bank shs.25,000. During this
month, the following transactions took place:
March 2nd : Cash sales shs.60,000
3rd: Paid salaries shs.101,500 by cheque
7th : Received a cheque of shs.76,000 from Henry after allowing a cash discount of 5%
13th: Bought office furniture by cheque shs.86,000
17th: Settle marital account for shs.34,200 in cash having deducted shs.8,000 cash discount
20th: Received a cheque for shs.165,000 in respect for cash sales
22nd: Paid wages shs.25,000 in cash
24th: Withdrew shs.32,000 for bank for office use
25th : Withdrew shs.4,000 cash for personal use
29th: Received shs.17,000 cash form Alvin in settlement of his account less shs.1000
cash discount
31st : Deposited all the money into the bank except shs.24,600
Required: Prepare a three column cash book duly balanced
Date posted:
April 4, 2019
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Answers (1)
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The following information relates to Ndhiwa resort traders for the month of November 2009:-
November, 1.started a business with shs 160,000 cash
...
(Solved)
The following information relates to Ndhiwa resort traders for the month of November 2009:-
November, 1.started a business with shs 160,000 cash
2. Purchases shs.120,000
3. Made sales in cash shs.126,000
4. Paid for electricity shs.1000 in cash
5. Received rent of shs.37 500 in cash
6. Gave discount of shs.6,000 in cash
Required :- i) Post the above information in the relevant ledger accounts and balance them off
ii) Extract a trial balance
Date posted:
April 4, 2019
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Answers (1)
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Record the following transactions in the relevant ledger accounts, balance the account
and extract a trial balance
Date ...
(Solved)
Record the following transactions in the relevant ledger accounts, balance the account
and extract a trial balance
Date Transaction
1/4/2007 Mary started business with shs.80,000 cash
2/4/2007 Bought stationery for shs.4,000 and paid in cash
3/4/2007 Opened a bank account and deposited shs.50,000 from the cash till
4/420007 Bought motor vehicle worth shs.250,000 from Lucy motors on credit
5/4/2007 Bought postage stamps for shs.60 in cash
Date posted:
April 4, 2019
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Answers (1)
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Mr. Omanda started a business in January 2000 with cash in hand 100,000. The following
transactions took place during the year:-
January: Bought stock by cash Kshs.20,000
February:...
(Solved)
Mr. Omanda started a business in January 2000 with cash in hand 100,000. The following
transactions took place during the year:-
January: Bought stock by cash Kshs.20,000
February: Sold goods on credit Kshs.30,000
March: Opened a bank account by banking cash Kshs.60,000
April: A debtor returned goods worth shs.5,000
May: Bought goods Kshs.70,000 on credit
June: The owner took cash Shs.10,000 to pay his children school fees
Extract a trial balance.
Date posted:
April 4, 2019
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Answers (1)
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A newly industrialized country with a population of 40 million people, had its national
income estimates during the year 2009 as follows:
...
(Solved)
A newly industrialized country with a population of 40 million people, had its national
income estimates during the year 2009 as follows:
Value in Kshs (million)
Exports 250000
Consumption expenditure 624000
Investment 300000
Government spending 416000
Imports 210000
Depreciation 10000
Net indirect taxes 50000
Required:
(i) Calculate the GNP per capital of the country
ii) Outline limitations of using GNP pr capita in measuring the standard of living of accounts
Date posted:
April 4, 2019
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Answers (1)
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By use of a diagram, explain how price and output are determined in a collusive oligopoly
(centralized cartel) market situation
(Solved)
By use of a diagram, explain how price and output are determined in a collusive oligopoly
(centralized cartel) market situation
Date posted:
April 4, 2019
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Answers (1)
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A manufacturer exhibited his goods in a local trade fair. However, his sales didn’t increase
significantly thereafter. Outline five reasons that may have led to lack...
(Solved)
A manufacturer exhibited his goods in a local trade fair. However, his sales didn’t increase
significantly thereafter. Outline five reasons that may have led to lack of significant sales
increase
Date posted:
April 4, 2019
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Answers (1)
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Jogoo business enterprise has been using salesmen to market their products. Highlight
five benefits of this strategy to the company
(Solved)
Jogoo business enterprise has been using salesmen to market their products. Highlight
five benefits of this strategy to the company
Date posted:
April 4, 2019
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Answers (1)
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Highlight five circumstances under which persuasive advertising may be used
(Solved)
Highlight five circumstances under which persuasive advertising may be used
Date posted:
April 4, 2019
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Answers (1)
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Highlight five benefits that a firm gets from the use of customers care services as part
of its operation
(Solved)
Highlight five benefits that a firm gets from the use of customers care services as part
of its operation
Date posted:
April 4, 2019
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Answers (1)
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Your father wants to insure his life with British American Insurance Company. As a Business
Studies student, explain to him five benefits of life assurance
(Solved)
Your father wants to insure his life with British American Insurance Company. As a Business
Studies student, explain to him five benefits of life assurance
Date posted:
April 4, 2019
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Answers (1)
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Outline five disadvantages of sirens as a form of communication that is popular with
ambulances and the police
(Solved)
Outline five disadvantages of sirens as a form of communication that is popular with
ambulances and the police
Date posted:
April 4, 2019
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Answers (1)
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Describe the procedure that a shareholder would follow in selling share through the stock
exchange.
(Solved)
Describe the procedure that a shareholder would follow in selling share through the stock
exchange.
Date posted:
April 4, 2019
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Answers (1)
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Highlight four circumstances under which a country may be classified as underdeveloped
(Solved)
Highlight four circumstances under which a country may be classified as underdeveloped
Date posted:
April 4, 2019
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Answers (1)
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Highlight four characteristics of good development plan
(Solved)
Highlight four characteristics of good development plan
Date posted:
April 4, 2019
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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Mention four ways in which individuals can hold money
(Solved)
Mention four ways in which individuals can hold money
Date posted:
April 4, 2019
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Answers (1)