The following balance were extracted from the books of Mutua Traders for the year ended 31st Dec 2001 after having prepared a trading accountDr (sh) Cr(sh) Gross profit 38,100 Stock (31st Dec) 80,200 Cash 105,060 Motor van 603,000 Capital 653,560 Equipment 200,600 Furniture 94,400 Creditors 74,300 Debtors 75,900 Discount received 26,400 Salaries 12,400 Carriage outward 14,400 Rent income 12,600 Advertising 22,200 Insurance 9,400
1,217,560 1,217,560 Required: i) Prepare a profit and a loss account for Fundi Traders for the year ended 31st December 2001ii) Prepare a balance sheet as at 31st December 2011
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The following balances were extracted from the books of Soilo Traders on 31 December 2010.21/12/2020 The following balances were extracted from the books of Soilo Traders on 31 December 2010.
Additional information:
Gross profit margin is stated at 40%. Prepare: (i) Trading, Profit and Loss Account for the year ended 3Pt December 2010. (5+ marks) (ii) Balance sheet as at 3P’ December 2010. 
The following Trial Balance was prepared by Laketi Traders on 31 December, 2009.
Using the information given above, prepare:
(i) A profit and loss account; (5 marks) (ii) A balance sheet. (7 marks) 
The following balances were extracted from the books of Highlife General Stores on 31st December 2008:
Prepare the balance sheet of Highlife General Stores as at 31 st December, 2008.
The following information was extracted from the books of Marigi Traders on 30th June 2009.19/12/2020 The following information was extracted from the books of Marigi Traders on 30th June 2009.
Prepare the Trading Account of Marigi Traders for the year ended 30th June 2009. (5 marks)
The following balances were extracted from the books of Rehema Traders on 1st January. 2007.17/12/2020 The following balances were extracted from the books of Rehema Traders on 1st January. 2007.
The following transactions took place during the year ended 31 st December, 2007:
(i) Sold furniture worth Ksh. 60,000 for which Ksh. 40,000 cash was received and the balance was due at the end of the year. (ii) Purchased goods worth Ksh.100,000 for which cash of Ksh. 70.000 was paid and the balance was still outstanding at the end of the year. (iii) Cash Ksh. 10,000 was taken from the business by the proprietor to settle the spouse’s hospital bill. Required: Draw Rehema Trader’s balance sheet as at 31st December, 2007 showing the items in their relevant classes. (10 marks) 
The following information relates to Bahati enterprises:
Calculate:
Expected Response
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The information given below was extracted from the books of Amina Traders on 31st December 2006.17/12/2020 The information given below was extracted from the books of Amina Traders on 31st December 2006.
Ksh
The following balances were extracted from the books of Nafula Traders as at 31 December 2005.17/12/2020 The following balances were extracted from the books of Nafula Traders as at 31 December 2005.
The information in the table below relates to product ZX whose unit price in the market is Shs 20.00.
(i) Determine total costs, total average costs, and marginal costs at each level of output. (8 marks)
(ii) Determine the units to be produced in order to maximize profits.(2 marks) 
The balances given below relate to Enotika Traders for the year ended 31st December 2008.15/12/2020 The figure below shows a shift in the supply curve of a given commodity.
Shs
PQ Ltd had the following balances as at 31st December 2012.
Prepare PQ’s Trading Account for the year ended 31st December, 2012. (5 marks)
Expected Response
Lunga, a sole trader, does not keep a complete set of accounting records. Information extracted from the records are as follows
Additional information:
(i) Interest charged on debtors overdue accounts amounted to Kshs 2,000 (ii) Bad debts written off amounted to Kshs 4,200 Prepare trading, profit and loss account for the year ended 31 December 2007 (10 mks) 
Malamu Traders had the following balances s at 31 December 2008
Prepare:
(a) Profit and loss account for the year ended 31 December 2008 (b) Balance sheets as at 31 December 2008 ( 12 mks) 
Analyze the following document issued by Sheikh Traders
Analyze the following document issued by Sheikh Traders
Required: (i) Name the document above (ii) Calculate the amount paid for the goods, if the debtor paid on 28th October 2008 (iii) Determine the net profit of the business if transaction (ii) above was Kshs 120.400 and the debtor paid for the goods on 15th November 2008 
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