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) 
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The following table represents the price and quantity of a commodity
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) 
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
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 
Using a diagram, explain the circular flow of income in a two sector economy
a)using a diagram, explain the circular flow of income in a two sector economy.
House holds supply their resources (factors of provision) to various types of businesses and receive payment on the form of rent, wages and profit On the other hand, businesses sell finished products to household and households pay for the goods and services received 
Explain five ways in which the government of Kenya may reduce the level of unemployment
Ways in which the government of Kenya may reduce the level of unemployment
The diagram below shows an oligopolist kinked demand curve DD and current price and quantity at P and Q respectively.
(i) Name the curve represented by the gap WZ
(ii) State Why the curve WZ is vertical to price axis (iii) Advice when the oligopolist can raise and lower the price of the commodity
Expected Responses
The trial balance of Zakayo Traders as at June 2008 is given below
During the month, the following transactions took place
2008
Expected Response
Explain five demerits that may be associated with water transport
Demerits that may be associated with water transport
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
Explain five features of sole proprietorship form of business
Features of sole proprietorship form of business
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.
Outline four benefits that accrue to the government as a result of privatization of public enterprises
Benefits of privatization of public corporations
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 
Highlight four circumstances under which business enterprises may choose to merge
Circumstances under which business enterprises may choose to merge:
Kazim maintains a petty cashbook on a weekly interest of Kshs 13,000 on 1st April 2007 the cash balance was Kshs 2,570, During the week of April, the following transactions took place
2007
The graph below the rate of population growth of a given country,Outline four factors that may have contribute to the trend between s and t
Outline four factors that may have contribute to the trend between s and t
Factors that may have contributed to the trend between S and T include:
Outline four reasons why hypermarkets are becoming increasingly popular in Kenya
Reasons for popularity of hypermarkets in Kenya include:
Outline four circumstances that would make an office manager to replace an existing machine with modern one
Circumstances which would make an office manager to replace an existing machine with a modern one 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) 
Outline four reasons why an increase in per capital income may not necessarily lead to a rise in the standard of living of the citizens
Reasons why an increase in per capita income may not lead to a rise in standard of living include:
Country X has been experiencing an upward trend in the price of petrol as a result of a rise in inflation. State four steps that can be taken to minimize expenditure on this product.
Steps that can be taken to minimize expenditure on petrol include:
Highlight four benefits that would accrue to a firm located near other existing firms
Benefits that accrue to a firm located near existing firms:
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