Shamalla has been in business for a number of years. Her newly appointed accountant has provided her with the following ledger balances as at December 31 2023. ParticularsAmount(Ksh)ParticularsAmount (Ksh)Capital100,000Cash in hand2,500Drawings25,000Cash in bank12,500Purchases450,000Rent10,000Sales650,000Taxes1,500Duty on Purchases10,000Motor van30,000Returns inwards3,500Salaries & wages25,000Stock(opening)55,000Sundry debtors40,000Carriage outwards4,000Sundry creditors30,000Purchases returns450Land102,000Returns outwards4,500Furniture5,000Carriage inwards5,500Insurance3,000 REQUIREDPrepare the Trial balance as at 31st December 2023.

Selected transactions for Suswa Traders during its first month in businessare presented below:Sept. 1 received capital for Sh 30,000 cash received from the owners.Sept. 5 Purchased equipment for Sh 20,000, paying Sh 2,000 in cash and thebalance on account.Sept. 25 Paid Sh 6,000 cash on balance owed for equipment.Sept. 30 Gave the owner Sh 1,000 cash for personal useRequired:a) Journalize the transactions. Do not provide narratives. (4 marks)b) Post the transactions to T-accounts.

QUESTION TWOThe following trial balance has been extracted from the ledger of Herbert Howell, a sole trader,as at 31 May 2019, the end of his most recent financial year.Herbert HowellTrial Balance As At 31 May 2019Dr CrSh. Sh.Property at cost 90,000Equipment at cost 57,500Provision for depreciation (as at 1 June2018)Property 12,500Equipment 32,500Stock as at 1 June 2018 27,400Purchases 259,600Sales 405,000Discounts allowed 3,370Discounts received 4,420Wages and salaries 52,360Bad debts 1,720Loan interest 1,560Carriage out 5,310Other operating expenses 38,800Trade debtors 46,200Trade creditors 33,600Provision for bad debts 280Cash on hand 151Bank overdraft 14,500Drawings 28,93013% loan 12,000Capital, as at 1 June 2018 ______ 98,101612,901 612,901The following additional information as at 31 May 2019 is available:(a) Stock as at the close of business was valued at Sh.25,900.(b) Depreciation for the year ended 31 May 2019 has yet to be provided as follows:Property - 1% using the straight-line methodEquipment - 15% using the straight-line methodCUEA/ACD/EXM/SEPT - DEC 2022/GABA/BCOM Page 4ISO 9001:2015 Certified by the Kenya Bureau of Standards.(c) Wages and salaries are accrued by Sh.140.(d) Other operating expenses include certain expenses prepaid by Sh.500. Other expensesincluded under this heading are accrued by Sh.200.(e) The provision for bad debts is to be adjusted so that it is 0.5% of trade debtors as at 31 May2019.(f) Purchases include goods valued at Sh.1,040, which were withdrawn by Mr Howell for hisown personal use.Required:Prepare Mr. Howell’s trading and profit and loss account for the year ended 31 May 2019 and hisbalance sheet as at 31 May 2019.

Salary and WagesCash PSPurchases.Sundry ExpensesParticularsStock (1.4.2019)Trial Balance as on 31st March, 2020.Debit33.000SalesFrofollowing Trial Balance and ustments of Kumbhar and Maroti youprepare Tradingand Profit and Loss Account for the year endedon 31st March, 2020 and a Balance Sheet as on that date.are requiredParticularsCredit?3,30,0004.200Discount p4,00010.000Creditors Ln20,0002.25.200Bank Overdraft10,00013,600Interest on Investment8,000Wages T-12.000Capitals:Bills Receivable6.000Kumbhar60,000Travelling Expenses2.000Maroti40,000Bad Debts c3,000Factory Expenses8,000Commission34504,000Investments pl20,000Debtors c40,000Tools and Equipments6.000urniture As12,000Goodwill Ag21,000wilding As50,0004.72,0004,72,000Adjustments:1) Partners share Profit and Losses in the ratio of their capitals.Closing Stock is valued at Cost Price 40,000 and at Market Price * 45,000.Kumbhar has withdrawn goods worth 1,200 for his own use, but no entry is made in the books.Uninsured goods worth 12,000 were lost by fire.* 450 are to be written off as bad debts.Unpaid Expenses: Salary and Wages 800 and Rent * 1,200.Depreciate Building @ 7.5% p.a​

State the reasons for maintaining control accounts. (4 Marks)(a) The following figures were extracted from the records of Ukweli Limited for 6 months ended30th June 2019KshsOpening Balances on 1st January 2019-Sales Ledger Dr 142,800Purchases Ledger Dr 1,050Sales Ledger Cr 4,050Purchases Ledger Cr 55,380Sales Ledger debit balances offset against purchases ledger 3,690Discounts-Allowed 20,970Discount - Received 14,250Purchases (Including Cash purchase of KSh 2,000) 120,200Cash sales 61,800Credit sales 206,820Credit notes to customers for goods returned 7,500Payments to creditors 115,920Cash purchase 13,200Interest charged by creditors on overdue accounts 6,900Receipts from customers 157,800Bad debts written off 3,720Customers ‘unpaid cheques 2,610Interest charged to customers 9,600Debt collection expenses charged to debtors 1,080Credit notes received for goods returned to suppliers 2,670Required:Prepare the Purchases and sales Ledger Control accounts for the six months ended 30thJune 2019 (16 Marks)*END*

The following abstract of certain ledger balances have been provided from a company's budget [Note: These same figures will be used in the following few questions]:   Cost of goods sold 1,605Finished Goods - Closing balance 105Fixed manufacturing overhead applied 185Gross Profit 1,095Materials - Closing balance 90Materials - Opening balance 100Materials - Used 375Operating income 510Period Costs 585Revenue 2,600Total manufacturing costs incurred 1,610Total manufacturing overhead costs 500Work in Process - Closing balance 210Work in Process - Opening balance 200Calculate the value of "Direct manufacturing labour"? (enter your figure to the nearest whole number, without dollar signs ($) or comma's)