The following trial and balance relates to business of Mali Ngumu traders as at 30th June 2008.8/11/2021 The following trial and balance relates to business of Mali Ngumu traders as at 30th June 2008.
Required:(a) Prepare a trading profit and loss account as at 30th June 2009. (8mks)
(b) Calculate the following ratios:- (4mks)(i) Rate of return on capital
(ii) Margin
(iii) Quick ratio
(iv) Rate of stock return over
0 Comments
Indicate with a tick in the relevant column whether each of the following business transactions will increase or decrease the capital account balance. (3mks)
The following balances were obtained from the books of Ole Nkanai Traders for the month ended 29 February 2012.
Sh.
Purchases………… 24, 000 Sales……………… 420, 000 Equipment………… 120, 000 Furniture………… 300, 000 Debtors………… 60, 000 Creditors……… 20, 000 Expenses……… 140, 000 Capital………… 420, 000 Prepare a Trial balance of Ole Nkanai Traders for the month ended 29 February 2012. (5mks)
The following balance were extracted from the books of Mutua Traders for the year ended 31st Dec 2001 after having prepared a trading accountDr (sh) Cr(sh) Gross profit 38,100 Stock (31st Dec) 80,200 Cash 105,060 Motor van 603,000 Capital 653,560 Equipment 200,600 Furniture 94,400 Creditors 74,300 Debtors 75,900 Discount received 26,400 Salaries 12,400 Carriage outward 14,400 Rent income 12,600 Advertising 22,200 Insurance 9,400
1,217,560 1,217,560 Required: i) Prepare a profit and a loss account for Fundi Traders for the year ended 31st December 2001ii) Prepare a balance sheet as at 31st December 2011
The following balances were extracted from the books of R and T Traders for the year ended 31st March
Required: Prepare a Trial Balance as at 31st March 2012 (4mks)
The following balances were extracted from the books of Wekesa Traders on 31 December,2009.21/12/2020 The following balances were extracted from the books of Wekesa Traders on 31 December,2009.
Using the above information, prepare Wekesa Trader’s Trial Balance on 3 December, 2009. (5 marks)
Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:
Entries to be made:
The following transactions were extracted from the books of Sarah Traders for the month of March 2006.
The trial balance of Zakayo Traders as at June 2008 is given below
During the month, the following transactions took place
2008
Expected Response
Outline the purpose of a trial balance as used in bookkeeping.
On 31 December 2005, Kiwa had accrued expenses of Sh.24,000. On 31st December,2006, the accrued expenses were Sh.30O00. In 2006 expenses paid for amounted to Sh. 85,000. Determine the expenses for the year 2006.
State the type of ledger account to which each of the following accounts relates: (4 marks)13/12/2020 State the type of ledger account to which each of the following accounts relates:
(i) Nominal.
(ii) Nominal. (iii) Creditors/purchases ledger. (iv) Real/general ledger.
Identify the ledgers in which the following accounts are maintained. (5 marks)
Expected Response
The following balances were extracted from the books of Chebi Traders for the month ended 31 March 2005. Prepare trial balance of Chebi Traders for the month ended 31 March 2005.
Prepare trial balance of Chebi Traders for the month ended 31 March 2005.
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