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Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. kSH.000 Account payables 15,800 equipment 46,000 motor vehicles 25,160 Account receivable 23,080 Cash at bank 29,120 cash in hand 160,000 during that financial year the following transaction took place 1. bought extra equipment on credit for Ksh 5,520,000 2. bought extra inventory by cheque Ksh 2,280,000 3. paid creditor by cheque Ksh 3,160,000 4.receive payment from debtors Ksh 3,360,000 by cheque and Ksh 240 by cash Questions identify the capital as at 1st January 2014 prepare a statement of financial position after the transaction have been completed the net profit for the period was Ksh 750,000
Trustees remuneration A trustee may not receive remuneration except: 1. By order of the court, if the trust is very onerous or the services of the trustee very valuable;
how to prepare statement of financial position?
Terry Marks is a well-known architect. He wants to start his own business and convinces Rob Norris, his cousin and a civil engineer, to contribute capital. Together, they form a pa
Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
Olivia has received a $15 gift certificate that is redeemable only for roasted peanuts. Bags of roasted peanuts come in two sizes, regular and jumbo. A regular bag contains 30 pean
Illustration regarding profit that head office can claim E Ltd sets up a branch in Nyeri on 1 July 2001. Goods are sent to branch at an invoice price which is 10% above cost. S
The current market price of a Leigh bond is $1,297.6. If the coupon rate is 10% and the par value is equal to $1,000, what is the yield to maturity of the bond if it matures in 10
Given information: Offered a $20 million commercial loan priced using a 3month LIBOR index+100bp. After some preliminary research, using a money center bank''s swap trading desk
The business is considering two proposals for their promotions of the professional courses.Proposal one could give a stable return throughout the period. Proposal Two would give hi
Tally & Co. incurred a pretax operating loss of $100,000 in its first year of operations for both financial reporting and income tax purposes. However, it expects to be profitable
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