Exam papers, notes, holiday assignments and topical questions – all aligned to the Kenyan curriculum.
Ask, answer and revise exam-style questions across Kenyan subjects and professional courses.
6 Questions View: All Solved Unsolved
Name two examples of liabilities in a balance sheet
Explain the various ways in which farmers may adjust to risks and uncertainties
a)Prepare a profit and loss account for Mr. Rob’s farm for the year ending 31st Dec. 2009, given the following information:- Sale of milk Kshs.10,000 Sold two heifers kshs.10,000 Cabbage sold Kshs. 20,000 Debts payable Ksh.4,200 Sold tomatoes Kshs. 3,000 Veterinary bills Kshs.2,500 Bought livestock feeds Kshs.2,500 Purchase fertilizers Kshs.5,000 Bought seeds Kshs. 4,000 Debts receivable Kshs.20,000 Opening valuation Kshs.150,000 Closing valuation Kshs.200,000 (b) Did the farm make a profit or a loss? Calculate the percentage profit or loss made by the Farm
The following information was obtained from Lang’at’s farm records for the year ending December, 2004. Study it and answer the questions that follow:- Goats 4,000 Poultry 15,000 Causal workers 12,000 Opening valuation 150,000 His sales and receipts are as follows: Mohair 75,000 Rabbits 3,600 Eggs to hotel 15,000 Closing valuation 200,000 (a) Prepare the profit and loss A/C of Lang’at’s farm (b) State the benefit of a profit and loss A/C to Mr. Lang’at
At the end year ended 31/12/2005 Bidii farm recorded the following: Perennial crops 250,000 Bank loans 30,000 Cash at hand 5,000 Bank overdrafts 15,000 Land 350,000 Unpaid wages 3,000 Debts receivable 20,000 Stocks in store 25,000 Livestock 200,000 Bank balances 100,000 (a) Prepare a balance sheet as at 31/12/2005 (b) Did Bidii farm qualify for a loan and why?
The following transactions were extracted from Mr. Tembo’s financial books for the year ending 31st Dec 2003.study and answer the questions that follow: i) Prepare a profit and loss account for Mr. Tembo’s farm for the year ending 31st Dec. 2003 ii) Calculate the percentage profit or loss made by the farm