Outline the difference between cash and credit transactions.
Difference between cash and credit transactions: .
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The following information relates to Kiboko Traders as at 31st December 2010.
Calculate Kiboko’s initial capital. (3 marks)
Expected Response![]() ![]() The following balances were extracted from the books of Saku traders on 31 March 2008,Determine the net worth of the business as at 31st March 2008
![]() State two characteristics of each of the following balance sheet elements: (a) Assets,(b) Liabilities
State two characteristics of each of the following balance sheet elements:
(a) Assets (b) Liabilities.
Assets
![]() The following information relates to Oie Traders as at 30th June 2007:Calculate capital for Ole Traders as at 30 June 2007:
Shs.
Machinery 200,000 Furniture 100,000 Premises 400,000 Debtors 160,000 Cash in hand 10,000 Bank overdraft 100,000 Creditors 40,000
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The following figures relate to Jumbo Traders for the year ended 31.12.13.
Expected Response![]() ![]() The following balances were extracted from the books of Wanji Traders for the year ended 30 June 2005. Prepare a balance sheet of Wanji Traders as at 30 June 2005.
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State the effect of each of the following transactions on the balance sheet by writing increase, or decrease or no effect in each case.
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Required: Prepare the balance sheet of Highlife General Stores as at 31st December 2015. (4 marks)
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The following information was extracted from the books of Salome Traders:
Capital Ksh 1,119,300; Long term liabilities Ksh 1 ,807,000; and current liabilities Ksh 978,700.
Required
(b) State the importance of the rate of return on capital employed. (1 mark)
Importance of the rate of return on capital employed.
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