INSTRUCTIONS
c) This paper consist of 6 questions
d) Answer ANY FIVE questions.
QUESTIONS
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- Explain five cannons of effective government expenditure. (10marks)
- Uzima juice enterprises are considering marketing their imported goods direct to consumers. Outline five reasons that may be influencing them to make this decision. (10marks)
-
- Explain four features of direct production. (8marks)
- Record the following transactions in the books of original entry of Tumaini traders as at 15th June 2010 and post to the relevant ledger accounts and balance them off.
- Bought an office printer for shs. 200,000 from Seals Stationary shop on credit.
- Sales returns by Ouma traders worth 5,000 Credit note number cr.56 issued.
- Sold goods on credit sh. 500,00 to Sargar Traders invoice no. 78
- Sold goods shs. 900,000 cash to Mugo receipt no. 210 was issued
- Paid salaries sh. 50,000 by cheque no. 589 (12marks)
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- Explain the procedure that is used in personal selling. (10marks)
- With the aid of suitable diagrams explain the difference between a movement and a shift in the
demand curve. (10marks)
-
- Explain five limitations of a trial balance as a tool of locating bookkeeping errors (10marks)
- Explain five factors that could hasten economic development in Kenya (10marks)
-
- Explain five differences between a public warehouse and a private warehouse (10marks)
- The trial balance given below relates to Crown Enterprises
CROWN ENTERPRISES
TRIAL BALANCE
ON 31ST DECEMBER 2011
Dr Cr
Capital 900,000
Buildings 450,000
Debtors 536,000
Creditors 600,000
Bank 200,000
Cash 80,000
Purchases 1,000,000
Sales 1,500,000
Stock (1/1/2011) 550,000
Returns inwards 20,000
Carriage inwards 8,500
Discount allowed 50,500
Salaries and Wages 285,000
Commission income 150,000
Returns outwards 30,000
3,180,000 3,180,000
Stock on 31st December 2011 was valued at Sh. 350,000
Required: Crown Enterprises Trading Profit and Loss account (10 marks)
-
- Explain SIX measures that the Government of Kenya may take to control her persistent Balance of payment deficit. (12 marks)
- Outline FOUR differences between endowment policy and whole life policy. (8 marks)
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