Questions

1. The following table contains information relating to a business A, B, C, and D. Determine the figures represented by W, X and Y. Business Assets Capital Liabilities A B C 620,000 X 800,000 W 400,000 500,000 230,000 120,000 Y

2. in the spaces provided, indicate with a (+) or (-) the effects of each one of the following transactions on the assets, Liabilities or capital (4 marks)

a Bought furniture on credit Assets Liabilities Capital

b. Paid creditors by cash

c. withdrew cash for personal use

d. Converted a personal car for business use .

2.The following relate to business A, B and C. For each of the business determine the missing figures: M, N, and P Business Assets Capital Liabilities

3. For each of the following types of accounts, state in the spaces provided whether you debit or credit increase or decrease the account. (3 marks) Type of account To increase To decrease

4. in the table below, determine the missing fig. X, Y and Z for each of business Q, R and S. - (3 marks)

5. The following information relates to business A, B, C and D. Business Assets Liabilities Capital A 500,000 x 300,000 B Y 800,000 1,200,000 C 300,000 120,000 z D 700,000 t 500,000 Determine figure represented by X, Y, Z and T. (4 marks)

6 The following trial balance of Onyati was incorrectly prepared in 30th June 1995. Prepare the correct Trial Balance. Dr. Cr. Capital 99,600 30,520 Debtors Creditors 25,670 80,000 Motor vehicles Cash 2,500 Stock 140,250 110,520

7.prepare trial balance from the following balances extracted from the books of San enterprises on 30th April, 1995 Shs Capital 947,000 Cash 74,000 Premises 870,000 Debtors 36,520 Creditors 45,300 Stock 12,250 (4 marks)

8. The following account balances were obtained from the books of Kiboko Traders on 30th June 1999. Motor vehicle 240,000 Current liabilities 440,000 Land + building 200,000 Current assets 420,000 Furniture 60,000 Capital 480,000 Prepare trial balance for Kiboko traders as at 30th June 1999.

9.The following balances were extracted from the books of Dipa traders as at 31st December 2000. . Buildings 100,000 Debtors 54,000 Capital 136,000 Sales 85,000 Purchases 48,000 Stock Jan 2000 25, 500 Creditors 37, 500 General expenses 31, 800 Bank overdrafts 2,500 Prepare trial balance as at 31 December 2000 (5 mks)

10. The following balances were obtained from the books of Rah Traders Shs. Opening stock 50, 000 Sales 360,000 Gross profit 25% of sales Closing stock 70,000 Calculate

a) Cost of goods sold

b) Rate of stock turnover (5 marks)

10. Enter each of the following transactions relating to Jokin Traders in the relevant 'T' A/c

i. Deposited cash in hand shs. 5,000 into bank

ii. Bought a motor vehicle on credit on for 250,000 from Raji Traders

iii. Paid salaries sh. 2, 400 by cheque (3 marks)

10. Balance the following ledger accounts. (5 marks) Dr. Cash Account Cr. Shs Shs Balance b/d 45700 Salaries 4800 Sales 35000 purchases 2000 Dr. Capital Account Cr. Sh. Shs Balance 20700 Dr. Salaries Account Cr. Sh sh Dr Capital Account Cr. Cash 4800 . Shs Shs Dr. Sales Account Cr. Sh. Sh. Balance b/d 45700 Cash 35000

11. For each of the following transactions state the account to be debited and credited.

(4 marks) Transactions A/c debited A/c credited

a) paid a creditor from private source

b) proprietorship brought in cash from private sources

c) Bought goods and paid by cheque d) Proprietor withdrew cash for personal use

12 Record the following transactions in ledger accounts.

a) Received Ksh. 20,000 cash in respect of rent paid

b) Purchased goods worth 30,000 on credit from crown traders.