-It is a legal requirement
-Facilitates compensation to victims of an accident by an insurance company.
-Enables the owner to have a replacement after occurrence of a risk.
-Encourages people to invest in the transport sector.
Kavungya answered the question on September 26, 2019 at 09:23
-
Redraft the following balance sheet correcting any mistakes.
(Solved)
Redraft the following balance sheet correcting any mistakes.
Date posted:
September 26, 2019
.
Answers (1)
-
On 1st June 2009, MULI ENTERPRISES had cash in hand sh. 87,000 and cash at bank
sh. 250,000.During the month, the following transactions took place.
June...
(Solved)
On 1st June 2009, MULI ENTERPRISES had cash in hand sh. 87,000 and cash at bank
sh. 250,000.During the month, the following transactions took place.
June 2, Sales (cash) sh. 50,000
June 3, Paid salaries sh.101, 500 by cheque.
June 6, Received a cheque for sh. 76,800 from Mwelu after allowing her a cash discount of 4%.
June 12, Bought office furniture by cheque sh. 85,000
June 16, Settled Musau’s account of sh. 40,000 in cash, having deducted shs 800 cash discount.
June 18, Received a cheque for shs 150,000 in respect of cash sales.
June 21, Paid wages shs 24,000 in cash.
June 22, Withdrew shs 30,000 from bank for office use.
June 25, Withdrew shs 5000 cash for private use.
June 28, Received shs 16500 cash from Kasiva in settlement of her account less shs 660 cash discount.
June 30, Deposited all the money into bank except shs 25,000
Prepare a three column cash book and balance it off.
Date posted:
September 26, 2019
.
Answers (1)
-
Savings and credit cooperatives have been registering an increasing number of members. Explain five reasons for such a development.
(Solved)
Savings and credit cooperatives have been registering an increasing number of members. Explain five reasons for such a development.
Date posted:
September 26, 2019
.
Answers (1)
-
During a trader’s workshop, a speaker presented a speech on ethical issues in business. Highlight some ethical issues that he may have raised, affecting business.
(Solved)
During a trader’s workshop, a speaker presented a speech on ethical issues in business. Highlight some ethical issues that he may have raised, affecting business.
Date posted:
September 26, 2019
.
Answers (1)
-
Explain five ways in which the central bank regulates the operations of commercial banks in Kenya.
(Solved)
Explain five ways in which the central bank regulates the operations of commercial banks in Kenya.
Date posted:
September 26, 2019
.
Answers (1)
-
Outline four ways in which a warehouse is of importance to a manufacturer.
(Solved)
Outline four ways in which a warehouse is of importance to a manufacturer.
Date posted:
September 26, 2019
.
Answers (1)
-
Give four reasons why electric trains are uncommon in Africa yet it is the common trend in other continents.
(Solved)
Give four reasons why electric trains are uncommon in Africa yet it is the common trend in other continents.
Date posted:
September 26, 2019
.
Answers (1)
-
The trial balance below relates to Mutua wholesalers and was wrongly prepared. Prepare a correct one.
(Solved)
The trial balance below relates to Mutua wholesalers and was wrongly prepared. Prepare a correct one.
Date posted:
September 26, 2019
.
Answers (1)
-
Highlight four reasons why a firm may be located close to other firms.
(Solved)
Highlight four reasons why a firm may be located close to other firms.
Date posted:
September 26, 2019
.
Answers (1)
-
Outline four functions of retailers which benefit the consumers.
(Solved)
Outline four functions of retailers which benefit the consumers.
Date posted:
September 26, 2019
.
Answers (1)
-
Give four reasons why a country may find it necessary to raise import duties.
(Solved)
Give four reasons why a country may find it necessary to raise import duties.
Date posted:
September 26, 2019
.
Answers (1)
-
A wholesaler who buys goods from the producers incurs expenses. Outline four such expenses.
(Solved)
A wholesaler who buys goods from the producers incurs expenses. Outline four such expenses.
Date posted:
September 26, 2019
.
Answers (1)
-
Highlight four ways commercial banks have contributed to the rural development in Kenya.
(Solved)
Highlight four ways commercial banks have contributed to the rural development in Kenya.
Date posted:
September 26, 2019
.
Answers (1)
-
Explain five services that are offered by commercial banks to their customers.
(Solved)
Explain five services that are offered by commercial banks to their customers.
Date posted:
September 26, 2019
.
Answers (1)
-
On 1st January 2012 Manga traders had 180,000 cash in hand and a bank credit balance of Shs.57,500. During the month the following transactions...
(Solved)
On 1st January 2012 Manga traders had 180,000 cash in hand and a bank credit balance of Shs.57,500. During the month the following transactions took place.
3rd Jan:Cash sales Shs. 2,800
4th Jan:A debtor settled his accent of sh. 90,00 by cheque
10th Jan:Paid Salaries shs. 40,000 in cash.
12th Jan:Took cash sh. 35,000 to settle on personal debt.
23rd Jan:Received a cheque shs. 8460 from Ouru distribution after deducting 6% cash discount.
24th Jan: Deposits shs. 10000 in the bank from office cash.
25th Jan: Purchased stock worth shs.8950 on credit from Ngumo distributors
26th Jan: Cash sales banked directly shs.38000
27th Jan: A cheque received on 4th from a debtors was dishonored. The bank charged him 2500.
29th Jan: Settled creditors account shs. 6000 b cheque less 3% cash discount.
31st Jan: Bank all cash except shs.40,000
Required:Prepared a three column cash book duly balanced
Date posted:
September 26, 2019
.
Answers (1)
-
Open the relevant ledger accounts using the following information.
1/2/2011 Started business with Kshs 10,000 in cash and Ksh 50,000 at bank.
2/2/2011 Bough goods on credit...
(Solved)
Open the relevant ledger accounts using the following information.
1/2/2011 Started business with Kshs 10,000 in cash and Ksh 50,000 at bank.
2/2/2011 Bough goods on credit from Lk traders worth Kshs 5,000.
4/2/2011 Withdrew from the bank Kshs 2000 for office use.
Date posted:
September 26, 2019
.
Answers (1)
-
Outline four challenges being faced by Kenya in the crucial stage of implementing the vision 2030.
(Solved)
Outline four challenges being faced by Kenya in the crucial stage of implementing the vision 2030.
Date posted:
September 26, 2019
.
Answers (1)
-
The following information belongs to XYZ traders for as at 31.12.2010
...
(Solved)
The following information belongs to XYZ traders for as at 31.12.2010
Shs
Rent 5,000
Debtors 20,000
Drawings 10,000
Stock 80,000
Cash in hand 15,000
Creditors 25,000
Cash at bank 50,000
Calculate capital and prepare the trial balances of XYZ traders as at 31.12.2010
Date posted:
September 26, 2019
.
Answers (1)
-
Highlight four circumstances under which a business person may decide to build his own warehouse instead of using a public warehouse.
(Solved)
Highlight four circumstances under which a business person may decide to build his own warehouse instead of using a public warehouse.
Date posted:
September 26, 2019
.
Answers (1)
-
State circumstances under which the following services may be offered by the post officer in enhancing communication.
i)Poste restante
ii)Registered mail
iii)Speed post
iv)Business reply services
(Solved)
State circumstances under which the following services may be offered by the post officer in enhancing communication.
i)Poste restante
ii)Registered mail
iii)Speed post
iv)Business reply services
Date posted:
September 26, 2019
.
Answers (1)