(a) Activities carried out with view of making profit –Business
(b) Increasing the usefulness of a good or services. – Production
(c) Movement of goods from producer to consumer – Distribution
marto answered the question on October 1, 2019 at 05:53
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Muinamo started a business on 1st March 2012 with a capital of 240,000 consisting of Sh. 130,00 in bank, Sh. 50,000 in cash and furniture...
(Solved)
Muinamo started a business on 1st March 2012 with a capital of 240,000 consisting of Sh. 130,00 in bank, Sh. 50,000 in cash and furniture worth Sh. 60,00. Transactions for the first week were as follows:
2012:
March 2nd purchased a typewriter by cheque Sh. 20,000
March 3rd bought delivery van for Sh. 450,000 from Mwangaza motors on Credit
March 4th Bought stock worth Sh. 15,000 for cash
March 5th Purchased goods worth Sh. 18,000 from Kinyua on credit
March 6th sold goods worth Sh. 30,000 on credit to Menge
March 7th paid 12,000 to Kinyua by Cheque
March 7th received Sh. 4,000 for rent by cheque
Required: Record the above information in the relevant ledger accounts and balance them off on 7th March 2012.
Date posted:
October 1, 2019
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Answers (1)
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Describe the following terms as used in accounting.
i) Assets
ii) Credit transactions.
iii) Networth of a Business.
iv) Ledger.
(Solved)
Describe the following terms as used in accounting.
i) Assets
ii) Credit transactions.
iii) Networth of a Business.
iv) Ledger.
Date posted:
October 1, 2019
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Answers (1)
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Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016
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Munguti, who runs a retail store, had the following assets and liabilities as at 31st March 2016.
During the month of April 2015, the following transactions took place
2015
April 1st sold goods at cost Sh. 2000cash
April 2nd Paid creditors Sh. 8000 cash
April 10th received Sh. 2000 from his debtors in cash
April 15th Bought a motor van for Sh. 35,00 paying by cheque
April 25th purchased goods worth Sh. 15000 and paid by cheque
Required: Prepare a balance sheet as at 25th April 2015.
Date posted:
October 1, 2019
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Answers (1)
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Muema is planning to construct a warehouse for renting. Explain five measures that he may take to ensure its smooth operation.
(Solved)
Muema is planning to construct a warehouse for renting. Explain five measures that he may take to ensure its smooth operation.
Date posted:
October 1, 2019
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Answers (1)
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Using a well labeled diagram, differentiate between shift in demand curve and movement along the demand curve.
(Solved)
Using a well labeled diagram, differentiate between shift in demand curve and movement along the demand curve.
Date posted:
October 1, 2019
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Answers (1)
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Explain five benefits of matatu reforms in transport sector.
(Solved)
Explain five benefits of matatu reforms in transport sector.
Date posted:
October 1, 2019
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Answers (1)
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Discuss five factors that may influence entrepreneurial practice positively in the country.
(Solved)
Discuss five factors that may influence entrepreneurial practice positively in the country.
Date posted:
October 1, 2019
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Answers (1)
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Mukhwandala insured his house worth Kshs 3400,000 for Kshs 2960,000.Later it was destroyed leaving a fraction of the house worth Kshs 1260000.Calculate the compensation he...
(Solved)
Mukhwandala insured his house worth Kshs 3400,000 for Kshs 2960,000.Later it was destroyed leaving a fraction of the house worth Kshs 1260000.Calculate the compensation he would get.
Date posted:
September 27, 2019
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Answers (1)
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The following balances were extracted from the books of Mbili Traders for the year ended 31st December, 2014.
...
(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)