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
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.
State the effect of each of the following transactions on the balance sheet by writing increase, or decrease or no effect in each case.
Required: Prepare the balance sheet of Highlife General Stores as at 31st December 2015. (4 marks)
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.
 AnswerThe missing values ¡n the table are:
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