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)
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Levels of inflation are:
Explain four services that the central Bank of Kenya may offer as a Banker to commercial banks15/12/2020 Explain four services that the central Bank of Kenya may offer as a Banker to commercial banks
Services that the central Bank of Kenya may offer as a Banker to commercial banks
The following transactions relate to Jelimo Stores:
Expected ResponseAnalyze 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 Explain five measures that the government may take to improve the volume of exports ( 10 mks)14/12/2020 Explain five measures that the government may take to improve the volume of exports
Measures that the government may take to improve the volume of exports
KAMAT owned a motor vehicle valued at Kshs 1,000,000. He comprehensively insured the car at Kshs 800,000. The motor vehicle was involved and declared a write off. Calculate the amount KAMAT should get from the insurer.
KAMAT owned a motor vehicle valued at Kshs 1,000,000. He comprehensively insured the car at Kshs 800,000. The motor vehicle was involved and declared a write off. Calculate the amount KAMAT should get from the insurer.
Highlight four factors that must be considered before incurring public expenditure
Factors before incurring public expenditure
The following information relates to Maji Mazuri Traders as 31. 12. 2008
(i) Rate of return on capital employed (ii) Current ratio Outline four functions of the International Bank for Reconstruction and Development. (4 marks)14/12/2020 Functions of the International Bank for Reconstruction and Development
Functions of the International Bank of Reconstruction and Development include:
The bookkeeper of trade Traders extracted the following information from the accounting records.During the year ended 31.12.2007, suppliers were paid Kshs 1,500, 000 while cash purchases amounted to Kshs 800,000
During the year ended 31.12.2007, suppliers were paid Kshs 1,500, 000 while cash purchases amounted to Kshs 800,000
Determine the purchases for the year (5 mks) Mheshimiwa Ltd. had the following ledger account balances as at 31st May 2010: Required: Prepare Mheshimiwa’s trial balance as at 31st May 2010. (5 marks) Expected ResponseA trader has decided to take a loan to expand a manufacturing business. Give two reasons why it is beneficial to borrow from a non- bank financial institution.
Reasons why it is beneficial to borrow from non-bank financial institutions
Indicate the type of journal in which each of the following transaction would be recorded14/12/2020 Indicate the type of journal in which each of the following transaction would be recorded
Type of journals referred to are:
Outline four ways in which commercial attaches may promote trade between their country and other countries
Commercial attaches promote trade in the following ways:
The following balances were extracted from books of Simba Traders for the year ended 31 December 2006,
Additional information
(i) Motor vehicle is depreciated by Sh187 500 while furniture is to be depreciated by Sh16 050 per year. (ii) Interest on loan is charged at 18% per year. This interest was still owing on 31 December 2006. (iii) Rent unpaid on 31 December 2O06 was Sh 2400 Prepare (a) Profit and loss account for the year ended 31 December 2006 (b) Balance sheet as at 31 December 2006.(12 marks) Explain six circumstances under which a country may restrict international trade. (12 marks)13/12/2020 Explain six circumstances under which a country may restrict international trade.
Circumstances under which a country may restrict international trade.
Describe four measures that the Government may put in place to reduce the amount of money in circulation.
Measures that the Government may put in place to reduce the amount of money in circulation.
Memon Traders does not keep a complete set of accounting records. The following information relates to the year ended 31 December 2006.
Additional information
Included in credit sales are drawings of stock ra1ued at Sh 25 000. For the year ended 31 December 2006, determine the following: (i) Total sales (ii) Total purchases (iii) Commission receivable (iv) Insurance expense (v) General expenses (10 marks) Outline four measures that a government may put in place to reduce high inflation in a country.
Measures that a government may put in place to reduce high inflation in a country.
Outline four requirements for opening a current account with a commercial bank. (4 marks)13/12/2020 Outline four requirements for opening a current account with a commercial bank.
Requirements for opening a current account with a commercial bank.
The following balances were extracted from the books of Solai Traders as at 31 May 2006
Sh.
Current assets 220,000 Capital 425,000 Net profit 85,000 Creditors 98.200 Accrued expenses 11,800 Determine: (a) Working capital (2 marks) (b) Return on capital (2 marks) For each of the following transactions in the table below, indicate in the spaces provided, the source document from which the transaction would be recorded.
(a) Sales invoice/outgoing invoice.
(b) Debit note. (c) Credit note. (d) Purchases invoice. The following trial balance was prepared from the books of Mugambi Traders for the year ended 31 December 2005
Prepare
(i) A balance sheet for the year ended 31 December 2005 (ii) Determine Working capital Capital employed Borrowed capital Discuss five reasons why less developed countries are reluctant in implementing free trade agreement.
Reasons why less developed countries are reluctant in implementing free trade agreement.
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