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Record the following transactions in Akili Traders‘ Three-Column Cashbook and balance it off on 31st January 2015.Jan 1 Balance b/d Cash Kshs. 200,000 Dr.Bank –...
(Solved)
Record the following transactions in Akili Traders‘ Three-Column Cashbook and balance it off on 31st January 2015.
Jan 1 Balance b/d Cash Kshs. 200,000 Dr.
Bank – Kshs. 15,000Cr
Jan 2 Cash sales Kshs. 145,000
Jan 6 Paid for motor expenses Kshs. 2,000
Jan 7 Paid salaries in cash Kshs. 50,000
Jan 9 Bought stationeries in cash Kshs. 1,000
Jan 14 Settled Kalyet‘s account of Kshs. 60,000 by cheque less 3% cash discount.
Jan 18 Received a cheque of 84,600 from Koech after deducting 10% cash discount.
Jan 21 Cash sales paid direct into the bank 340,000
Jan 23 Kaigat settled his account of 2,600 by cheque after deducting 5% cash discount.
Jan 24 Received cheque from the following debtors after deducting 10% discount in each case;
Chuma Kshs, 3,000, Buko 28,000 and Matapei 9,000
Jan 25 Paid consultancy salaries in cash Shs. 2,000
Jan 29 Credit purchase of Shs. 10,000
Jan 31 Banked all except 4,200
Date posted:
September 2, 2019
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Answers (1)
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Mark with a tick to indicate in the appropriate column the financial statement in which each of the items in the table below would appear.
(Solved)
Mark with a tick to indicate in the appropriate column the financial statement in which each of the items in the table below would appear.
Date posted:
September 2, 2019
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Answers (1)
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Chetambe retail shop carried out the transactions given in the table below. For each transaction, state the source of document and respective book of original...
(Solved)
Chetambe retail shop carried out the transactions given in the table below. For each transaction, state the source of document and respective book of original entry.
Date posted:
September 2, 2019
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Answers (1)
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An entrepreneur may spot a gap in the market which may be converted into a business idea. Name four such gaps.
(Solved)
An entrepreneur may spot a gap in the market which may be converted into a business idea. Name four such gaps.
Date posted:
September 2, 2019
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Answers (1)
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The following balances were obtained from the Books of Mtema Traders as at 31st July 2010.
(Solved)
The following balances were obtained from the Books of Mtema Traders as at 31st July 2010.Prepare a trial balance as at 31st July 2010.
Date posted:
September 2, 2019
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Answers (1)
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Outline four challenges that a distributor of fresh milk is likely to face in his / her operations.
(Solved)
Outline four challenges that a distributor of fresh milk is likely to face in his / her operations.
Date posted:
September 2, 2019
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Answers (1)
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Highlight four ways in which HIV/AIDS prevalence has negatively affected business activities.
(Solved)
Highlight four ways in which HIV/AIDS prevalence has negatively affected business activities.
Date posted:
September 2, 2019
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Answers (1)
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State four auxiliary services to business.
(Solved)
State four auxiliary services to business.
Date posted:
September 2, 2019
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Answers (1)
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The following information was extracted from the books of Umeme Traders as at 31st December 2009.
Prepare:
(i) Profit and loss account for the year ended 31st...
(Solved)
The following information was extracted from the books of Umeme Traders as at 31st December 2009.
Prepare:
(i) Profit and loss account for the year ended 31st December 2009.
(ii) Balance sheet as at 31st December 2009.
Date posted:
September 2, 2019
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Answers (1)
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Explain five problems that are likely to face the process of implementation of well-prepared economic development plans.
(Solved)
Explain five problems that are likely to face the process of implementation of well-prepared economic development plans.
Date posted:
September 2, 2019
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Answers (1)
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Outline the steps that one must follow when sent to the field to promote the products of the bank through personal selling.
(Solved)
Outline the steps that one must follow when sent to the field to promote the products of the bank through personal selling.
Date posted:
September 2, 2019
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Answers (1)
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Giving the types of unemployment, state the causes of the remedies.
(Solved)
Giving the types of unemployment, state the causes of the remedies.
Date posted:
September 2, 2019
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Answers (1)
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Study the following table of the demand and supply of product x.Explain five factors that may have led to the trend above.
(Solved)
Study the following table of the demand and supply of product x.
Explain five factors that may have led to the trend above.
Date posted:
September 2, 2019
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Answers (1)
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In the table below fill in the missing figures S,T,U and V.
(Solved)
In the table below fill in the missing figures S,T,U and V.
Date posted:
September 2, 2019
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Answers (1)
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Define the following terms as used in business studies
(i) Annuity
(ii) Proposer
(iii) Speculative risk
(iv) Grace period
(Solved)
Define the following terms as used in business studies
(i) Annuity
(ii) Proposer
(iii) Speculative risk
(iv) Grace period
Date posted:
September 2, 2019
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Answers (1)
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State the name of the source document used to record the following transactions
(Solved)
State the name of the source document used to record the following transactions
Date posted:
September 2, 2019
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Answers (1)
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Enter the following transactions in the relevant ledger accounts
2015 April 1 Janet Cosmetics started a business with Ksh. 150,000 cash.
,, 3 Bought stock of...
(Solved)
Enter the following transactions in the relevant ledger accounts
2015 April 1 Janet Cosmetics started a business with Ksh. 150,000 cash.
,, 3 Bought stock of goods for Sh. 40,000 and paid in cash
,, 6 Opened a bank account and deposited Sh. 60,000 from the cash till
,, 9 Purchased an office machine for Sh. 25,000 and paid by cheque
Date posted:
September 2, 2019
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Answers (1)
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The information below was extracted from the books of Lemayian Traders for the year ended
(Solved)
The information below was extracted from the books of Lemayian Traders for the year ended 31. 12. 2015
Opening stock......................... 45,000
Closing stock .........................15,000
Turnover............................... 340,000
Margin.................................. 25%
Required:
(i) Gross profit
(ii) Purchases
Date posted:
September 2, 2019
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Answers (1)
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The following balance sheet belongs to Nyakwar Atiyo during the period ended 30th June 2000.
The following transactions took place on July 1 2000.
(i) Paid creditors...
(Solved)
The following balance sheet belongs to Nyakwar Atiyo during the period ended 30th June 2000.
The following transactions took place on July 1 2000.
(i) Paid creditors Sh 2000 by cheque.
(ii) Nyakwar Atiyo took stock worth Shs 7500 from the business for his son‘s birthday.
(iii) Motor vehicle previously owned by Nyakwar Atiyo values at sh 200,000 was converted into business vehicles.
Required: Prepare the balance sheet of Nyakwar Atiyo traders as at 2nd July 2000.
Date posted:
September 2, 2019
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Answers (1)
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Outline four services offered in agency banking as a trend in the banking sector.
(Solved)
Outline four services offered in agency banking as a trend in the banking sector.
Date posted:
September 2, 2019
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Answers (1)