a) Purchases returns / returns outwards
b) Sales returns / returns inwards
c) Sales Journal / Debtors Journal
d) Purchases / Creditors Journal
sharon kalunda answered the question on September 2, 2019 at 06:43
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Study the ledger accounts given below and write out the transactions that took place affecting the business of Huruma Ltd in January 2008.
(Solved)
Study the ledger accounts given below and write out the transactions that took place affecting the business of Huruma Ltd in January 2008.
Date posted:
September 2, 2019
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Answers (1)
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The following balances were extracted from Mwangaza traders books of accounts.
...
(Solved)
The following balances were extracted from Mwangaza traders books of accounts.
Shs.
Opening stock 25,000
Closing stock 35,000
Purchases 190,000
Mark - up 20%
Calculate:
i) Cost of sales
ii) Gross profit
iii) Sales
iv) Rate of stock turnover (ROSTO)
Date posted:
September 2, 2019
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Answers (1)
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Explain five reasons that contribute to low tax revenue by the government through Kenya RevenueAuthority.
(Solved)
Explain five reasons that contribute to low tax revenue by the government through Kenya RevenueAuthority.
Date posted:
September 2, 2019
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Answers (1)
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The following balances relate to Maendeleo Electrical Enterprise as at 31st December, 2014.
...
(Solved)
The following balances relate to Maendeleo Electrical Enterprise as at 31st December, 2014.
Sh.
Machinery 1,240,000
Stock 190,000
Debtors 150,000
Motor vehicle 1,100,000
Cash- in- hand 150,000
Creditors 270,000
Bank overdraft 130,000
10 year bank loan 1,200,000
Capital 1,660,000
Drawings 750,000
Net profit 320,000
Required:
Prepare a balance sheet as at 31st December, 2014 clearly showing:
i) Net capital
ii) Total current liabilities
iii) Total current assets
Date posted:
September 2, 2019
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Answers (1)
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Explain five factors that may influence the choice of distribution channel for milk.
(Solved)
Explain five factors that may influence the choice of distribution channel for milk.
Date posted:
September 2, 2019
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Answers (1)
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Factors to consider before you locate an office
(Solved)
Factors to consider before you locate an office
Date posted:
September 2, 2019
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Answers (1)
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Explain five benefits that may accrue to Kenya as a result of joining the East Africa community.
(Solved)
Explain five benefits that may accrue to Kenya as a result of joining the East Africa community.
Date posted:
August 20, 2019
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Answers (1)
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Mulwa started a hardware business on 1st Jan 2018. The following is a summary of his transactions during the month.
(Solved)
Mulwa started a hardware business on 1st Jan 2018. The following is a summary of his transactions during the month.
Required
Record the above transactions in the appropriate journals.
Date posted:
August 20, 2019
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Answers (1)
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There is a tendency of firms being located where other firms exist. Highlight five disadvantages of this move.
(Solved)
There is a tendency of firms being located where other firms exist. Highlight five disadvantages of this move.
Date posted:
August 20, 2019
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Answers (1)
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Given below are some of the balances extracted from the books of Kings Traders on 31st May 2018.
(Solved)
Given below are some of the balances extracted from the books of Kings Traders on 31st May 2018.
Prepare Kings Traders Trading Account for the year ended 31st August 2017.
Date posted:
August 20, 2019
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Answers (1)
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Ouma runs a retail business. In 2018 he made sales of shs.40,000. His mark-up was 25%. Calculate his gross profit in 2018.
(Solved)
Ouma runs a retail business. In 2018 he made sales of shs.40,000. His mark-up was 25%. Calculate his gross profit in 2018.
Date posted:
August 20, 2019
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Answers (1)
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Using the symbols (+) for increase, (-) for decrease and (NC) for no change, indicate the effects of the following transactions on total assets, capital...
(Solved)
Using the symbols (+) for increase, (-) for decrease and (NC) for no change, indicate the effects of the following transactions on total assets, capital and liabilities.
Date posted:
August 20, 2019
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Answers (1)
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The table below shows description of various types of unemployment. Indicate the type of employment that matches the description.
(Solved)
The table below shows description of various types of unemployment. Indicate the type of employment that matches the description.
Date posted:
August 20, 2019
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Answers (1)
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Outline four factors that affect flow of national income in a two sector economy.
(Solved)
Outline four factors that affect flow of national income in a two sector economy.
Date posted:
August 20, 2019
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Answers (1)
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The following is a graph showing demand of sweet potatoes. Indicate the effect of increase in consumer’s income on the graph.
(Solved)
The following is a graph showing demand of sweet potatoes. Indicate the effect of increase in consumer’s income on the graph.
Date posted:
August 20, 2019
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Answers (1)
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Outline four disadvantages of using publicity as a method of product promotion.
(Solved)
Outline four disadvantages of using publicity as a method of product promotion.
Date posted:
August 20, 2019
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Answers (1)
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John insured his building worth shs.2,000,000 against fire for shs1,500,000. The building was gutted down by accidental fire and the remains were valued at shs...
(Solved)
John insured his building worth shs.2,000,000 against fire for shs1,500,000. The building was gutted down by accidental fire and the remains were valued at shs 600,000. Calculate the amount of compensation.
Date posted:
August 19, 2019
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Answers (1)
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Highlight four problems associated with the use of sign language as a means of communication.
(Solved)
Highlight four problems associated with the use of sign language as a means of communication.
Date posted:
August 19, 2019
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Answers (1)
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Name the type of business organization described by each of the following: a) Form by an Act of Parliament b) Ownership is between 7 and infinitec)...
(Solved)
Name the type of business organization described by each of the following:
a) Form by an Act of Parliament
b) Ownership is between 7 and infinite
c) Managed by a committee
d) Any owner can act on behalf of the others
Date posted:
August 19, 2019
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Answers (1)
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Simba traders bought 200 blankets at shs.500 each on credit. The term of sale were 20% trade discount and 5% cash discount, if payment is...
(Solved)
Simba traders bought 200 blankets at shs.500 each on credit. The term of sale were 20% trade discount and 5% cash discount, if payment is made within 2 weeks. Calculate the amount paid if payment was made within one week.
Date posted:
August 19, 2019
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Answers (1)