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The following balances were extracted from the books of Mbili Traders for the year ended 31st December, 2014.
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(Solved)
The following balances were extracted from the books of Mbili Traders for the year ended 31st December, 2014.
Kshs
Stock 100,000
Capital 800,000
Debtors 50,000
Creditors 80,000
Cash 10,000
Net Profit 10,000
Bank Overdraft 70,000
Machines 600,000
Furniture 200,000
Required: Prepare Mbili Traders balance sheet as at 31st December 2014.
Date posted:
September 27, 2019
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Answers (1)
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Identify four common documents in home trade that are used for credit transaction in the Delivery stage.
(Solved)
Identify four common documents in home trade that are used for credit transaction in the Delivery stage.
Date posted:
September 27, 2019
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Answers (1)
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Identify four circumstances under which utility is created in a commodity within a firm.
(Solved)
Identify four circumstances under which utility is created in a commodity within a firm.
Date posted:
September 27, 2019
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Answers (1)
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Study the diagram below on cyclical unemployment and answer it by giving an appropriate term to the letters indicated.
a ................ c...................
b ................ d ..................
(Solved)
Study the diagram below on cyclical unemployment and answer it by giving an appropriate term to the letters indicated.
a ................ c...................
b ................ d ..................
Date posted:
September 27, 2019
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Answers (1)
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Outline four circumstances that necessitates use of shorter channels of distribution over longer channels in the rural Kenya.
(Solved)
Outline four circumstances that necessitates use of shorter channels of distribution over longer channels in the rural Kenya.
Date posted:
September 27, 2019
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Answers (1)
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Ouma a trader at Nangina marketing centre in Busia County sells cones but does not know how to determine best prices for his commodities. Advice...
(Solved)
Ouma a trader at Nangina marketing centre in Busia County sells cones but does not know how to determine best prices for his commodities. Advice him on four methods of achieving this objectives.
Date posted:
September 27, 2019
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Answers (1)
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Identify four differences between movement along and shift in a supply curve.
(Solved)
Identify four differences between movement along and shift in a supply curve.
Date posted:
September 27, 2019
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Answers (1)
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Outline the services rendered by producer cooperative societies to their members.
(Solved)
Outline the services rendered by producer cooperative societies to their members.
Date posted:
September 27, 2019
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Answers (1)
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State the securities traded at the Nairobi stock exchange market.
(Solved)
State the securities traded at the Nairobi stock exchange market.
Date posted:
September 27, 2019
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Answers (1)
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List the activities found in primary level production.
(Solved)
List the activities found in primary level production.
Date posted:
September 27, 2019
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Answers (1)
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Give the limitations of debentures as a source of capital for a company.
(Solved)
Give the limitations of debentures as a source of capital for a company.
Date posted:
September 27, 2019
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Answers (1)
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State the Precautions that a drawer can take in order to ensure that his cheques do not bounce.
(Solved)
State the Precautions that a drawer can take in order to ensure that his cheques do not bounce.
Date posted:
September 27, 2019
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Answers (1)
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List the ways in which the use of containers is sea transport enhances security of cargo.
(Solved)
List the ways in which the use of containers is sea transport enhances security of cargo.
Date posted:
September 27, 2019
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Answers (1)
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Anyango is employed as a saleslady by Biashara Traders. She is paid a basic salary of Sh.3,000 per month and a commission based on her...
(Solved)
Anyango is employed as a saleslady by Biashara Traders. She is paid a basic salary of Sh.3,000 per month and a commission based on her sales as follows:-
1.5% on the first Sh.100,000
2% on the next Sh.50,000
2.5% on the next Sh.75,000
3% on any sales above Sh.225,000
During the year 2009, Anyango received a monthly income of Sh.41,575.
Calculate her total sales for the year 2009 (show all your calculations).
Date posted:
September 26, 2019
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Answers (1)
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The following diagram shows the equilibrium price of good X as set by the forces of demand and supply.
Suppose the government sets the maximum price...
(Solved)
The following diagram shows the equilibrium price of good X as set by the forces of demand and supply.
Suppose the government sets the maximum price at Sh.100 which is below the equilibrium price, highlight four effects of such a move.
Date posted:
September 26, 2019
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Answers (1)
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Give four reasons why plastic money is increasingly being used in business transactions.
(Solved)
Give four reasons why plastic money is increasingly being used in business transactions.
Date posted:
September 26, 2019
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Answers (1)
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The following information was extracted from the books of KM Stores.
Rate of stock turnover 3 times
Opening stock Sh.80,000
Closing stock Sh.100,000
Mark-up 20%
Determine the...
(Solved)
The following information was extracted from the books of KM Stores.
Rate of stock turnover 3 times
Opening stock Sh.80,000
Closing stock Sh.100,000
Mark-up 20%
Determine the gross profit.
Date posted:
September 26, 2019
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Answers (1)
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Indicate the term described by the following statements.
a)Inability of a business to meet its financial obligations.
b)A company that acquires 51% or more shares of...
(Solved)
Indicate the term described by the following statements.
a)Inability of a business to meet its financial obligations.
b)A company that acquires 51% or more shares of another company.
c)A business that takes over another business by buying off all its assets and liabilities.
d)A business grants another right to manufacture and distribute its branded products using its name.
Date posted:
September 26, 2019
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Answers (1)
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The following are some of the source documents used in accounting; credit note issued, cash sale receipt, credit note received and invoice issued. Match each...
(Solved)
The following are some of the source documents used in accounting; credit note issued, cash sale receipt, credit note received and invoice issued. Match each of the following books of original entry with the relevant source document.
a)Sales returns book
b)Sales day book
c)Purchases returns book
d)Cash book
Date posted:
September 26, 2019
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Answers (1)
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The following trial balance was extracted from the books of Mawego Traders 31st December 2010.
Prepare:
i)Profit and loss account for the year ended 31st December 2010.
ii)Balance...
(Solved)
The following trial balance was extracted from the books of Mawego Traders 31st December 2010.
Prepare:
i)Profit and loss account for the year ended 31st December 2010.
ii)Balance sheet as at 31st December 2010.
Date posted:
September 26, 2019
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Answers (1)