565/2 Accounting Questions

BST P2 KCSE 2010-2020 F.docx

KCSE BS PP2 ACCOUNTING 2009-2020.pdf

KCSE 2015

2 (b) The following balances were extracted from the books of Mamboleo Traders in the month of September, 2014.

September 1: Had cash in hand, shs. 15,500 and a bank overdraft of shs. 9,700.
September 3: Bought goods for sale shs. 12,300 on credit. – September 5: Sold goods in cash shs. 8,500.
September 9: Sold good on credit shs. 10,000 – September 12: Received a cheque of sh. 9,000 from a debtor.
September 15: Paid a creditors shs. 10,000 in cash.
September 17: Paid wages shs. 2,600 in cash.
September 19: Received a cheque shs. 23,400 from Samson for goods sold in January.
September 20: Received shs. 6.700 from a debtor in cash.
September 23: Withdrew sh. 7,700 from the bank for office use. – September 24: Paid electricity bills by cheque of shs. 1,200 – September 25: Received a cheque of shs. 11,500 from a debtor. – September 26: Made cash sales of shs. 12,800 – September 27: Purchased goods worth 8,950 in cash.
September 28: Deposited personal cash shs. 3,500 into the business account.
September 30: Paid water bills by cheque sh. 2,800.

Required: Prepare a two-column cash book. (10 Marks)

BST P2 KCSE 2010-2020 F.docx

KCSE BS PP2 ACCOUNTING 2009-2020.pdf

KCSE 2016

4 (b) The following balances were extracted from the books of Rehema

Traders on 1st January 2015. Ksh

Capital 600,000

Creditors 180,000 Motor van 200,000

Furniture 200,000

Stock 60,000

Debtors 80,000

Cash 240,000

The following transactions took place during the year ended 31st December 2015:

i. Sold furniture worth Ksh 60,000 for which Ksh 40,000 cash was received and the balance was due at the end of the year. ii. Purchased goods worth Ksh 100,000 for which cash of Ksh 70,000 was paid and the balance was still outstanding at the end of the year.

iii. Cash Ksh 10,000 was taken from the business by the proprietor to settle the spouse’s hospital bill.

Required: Outline the effect of each transaction on the items of the balance sheet. (8 Marks)

KCSE 2018

2 (b)The following information was extracted from the books of Kisababu Traders on 31^st December, 2014.

Details Ksh

Sales 84,000

Purchases 58,800

Opening stock 15,700

Stock on 31/12/2014 13,000

Returns out 1,500

Returns in 9,000

Required:

Prepare Kisababu Traders Trading Account for the period ending 31^st December, 2014. (5 Marks)
Work out Kisababu Traders percentage Mark-up (2 Marks) iii) Calculate Kisababu Traders Rate of Stock Turnover. (3 Marks)

KCSE 2018

5 (b) The following balances were extracted from the books of Mageta

Traders on 1^st July, 2016. ( 10 marks)

Details Ksh

Furniture 56,000

Capital 80,000

Creditors 20,000

Debtors 25,000

Bank 11,000 Cash 8,000

The following transactions took place in the course of the month.

Paid a creditor Sh. 4,500 in cash.
Took Sh. 3,000 from the bank for family use.
Bought stock Sh. 18,600 on credit.
Acquired a 10 Year Bank Loan Sh. 165,000 which was credited to the business account.
Purchased land worth Sh. 82,000 paying by cheque.
Converted a family table worth Sh. 5,500 to business use.
Received Sh. 7,300 in cash from debtor.

Required:

Prepare Mageta Traders Balance Sheet at the end of July 2016. (10 Marks)

6 (a) On 1st September 2015, Gondi had Ksh 55,000 in hand and Ksh 250,000 at bank. During the month, the following transactions took place:

September 2: Cash sales banked Ksh 35,260
September 3: Bought ribbons in cash Ksh 4,500
September 8: Paid Wangila, a creditor Ksh 94,000 by cheque in full settlement of his account after deducting 6% cash discount
September 12: Received a cheque for Ksh 58,800 from Wetu after allowing her a cash discount of Ksh 1,200.
September 15: Paid salaries Ksh 34,000 in cash
September 25: Withdrew Ksh 50,000 from bank for office use
September 28: Anyango, a debtor paid her account of Ksh 75,000 by cheque less 10% cash discount
September 30: Deposited all the cash into bank except Ksh 13,700

Required: Prepare a three-column cash book and balance it off. (10 M)