KCSE Business Studies Topical Questions and Answers

The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

21/12/2020

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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)

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Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:

20/12/2020

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Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:

Entries to be made:

Credit entry.
Credit entry.
Debit entry.
Debit entry.

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The following transactions were extracted from the books of Sarah Traders for the month of March 2006.

17/12/2020

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The following transactions were extracted from the books of Sarah Traders for the month of March 2006.

March 10: Purchased goods on credit worth Ksh 200,000 from Sarah Traders
March 25: Sold goods on credit worth Ksh 42O.00O to Shah Traders
Record the above transactions in the ledger accounts below:

March 10: Purchased goods on credit worth Ksh 200,000 from Sarah Traders March 25: Sold goods on credit worth Ksh 42O.00O to Shah Traders Record the above transactions in the ledger accounts below:

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The trial balance of Zakayo Traders as at June 2008 is given below

15/12/2020

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The trial balance of Zakayo Traders as at June 2008 is given below

During the month, the following transactions took place
2008

June 5 Paid a creditor Kshs 228,000 by cheque in full settlement of a debt after deducting 5% cash discount.
15 Withdrew Kshs 100,000 from bank for office use
28 Received Kshs 160, 000 cash from a debtor after allowing cash discount of Kshs 40, 000

Record the above transactions in the relevant ledger accounts and balance then off.

Expected Response

During the month, the following transactions took place 2008 June 5 Paid a creditor Kshs 228,000 by cheque in full settlement of a debt after deducting 5% cash discount. 15 Withdrew Kshs 100,000 from bank for office use 28 Received Kshs 160, 000 cash from a debtor after allowing cash discount of Kshs 40, 000 Record the above transactions in the relevant ledger accounts and balance then off.

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Outline the purpose of a trial balance as used in bookkeeping. (4 marks)

13/12/2020

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Outline the purpose of a trial balance as used in bookkeeping.

Check accuracy of posting transactions to the ledger.
Check the arithmetical accuracy of ledger accounts.
Provide account balances at year end.
Check that debit and credit balances are in agreement.
Summarizes the information in the ledger account.
Facilitates the preparation of final accounts.

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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. (4 marks)

13/12/2020

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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.

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State the type of ledger account to which each of the following accounts relates: (4 marks)

13/12/2020

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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.

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Identify the ledgers in which the following accounts are maintained. (5 marks)

9/12/2020

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Identify the ledgers in which the following accounts are maintained. (5 marks)

Expected Response

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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.(4mks)

8/12/2020

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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.

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.(4mks)

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Identify the ledgers in which the following accounts are kept. (4 marks)

3/12/2020

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Identify the ledgers in which the following accounts are kept. (4 marks)

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The following information relates to Zawadi Traders rental income:

27/11/2020

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The following information relates to Zawadi Traders rental income:

1.1.15 Had Ksh 50,000 in the rent income account at the beginning of the year.
10.6.15 Received Ksh 120,000 from tenants.
12.11.15 Refunded Ksh 20,000 to a tenant who had vacated the premises.

Required
Prepare Zawadi Traders Rental income Account. (4 marks)

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Identify the types of ledger in which each of the following accounts would be found: (4 marks)

23/11/2020

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Identify the types of ledger in which each of the following accounts would be found: (4 marks)

Account, Type of ledger
a Otieno (buyer)
b Carriage outwards
c Mueni (supplier)
d Cash at bank

Types of ledgers into which the accounts would be found are:
(a) Debtors ledger/Sales ledger.
(b) Nominal ledger/General ledger.
(c) Creditors ledger/Purchases ledger.
(d) Cash book.

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K.C.S.E Business Studies Q & A - MODEL 2019PP2QN2b

31/5/2020

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The Trial Balance given below was extracted from the books of Rakwaro Enterprises on
31 December 2015.

Stock on 31 December 2015 was valued at Ksh 280,400.

Required

Prepare Rakwaro Enterprises Trading Profit and Loss Account for the period

ending 31 December 201 5

Determine Rakwaro Enterprises initial capital.

Answers

INITIAL CAPITAL=Final capital-NP+D
=720000 - 337200 + 28000
=Shs 40800

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KCSE BASED BUSINESS STUDIES Q & A

The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:

Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:

The following transactions were extracted from the books of Sarah Traders for the month of March 2006.

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

The trial balance of Zakayo Traders as at June 2008 is given below

Outline the purpose of a trial balance as used in bookkeeping. (4 marks)

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. (4 marks)

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)

State the type of ledger account to which each of the following accounts relates:

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.(4mks)

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.

Identify the ledgers in which the following accounts are kept. (4 marks)

The following information relates to Zawadi Traders rental income:

Identify the types of ledger in which each of the following accounts would be found: (4 marks)

K.C.S.E Business Studies Q & A - MODEL 2019PP2QN2b

The Trial Balance given below was extracted from the books of Rakwaro Enterprises on
31 December 2015.

Required

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KCSE BASED BUSINESS STUDIES Q & A

The following balances were extracted from the books of Wekesa Traders on 31 December,2009.

Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:

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

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:

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.

The Trial Balance given below was extracted from the books of Rakwaro Enterprises on31 December 2015.

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The Trial Balance given below was extracted from the books of Rakwaro Enterprises on
31 December 2015.