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
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