Differences in financial and taxable income
A permanent difference occurs when a transaction is included in either taxable income or
financial income, but not both. That is, a permanent differen
Today banking is almost totally dependent on computer.
Banks provide following facilities:
Banks provide online accounting facility, which includes current balances, deposits,
overdrafts, interest charges, shares, and trustee records.
ATM machines are mak
Tom Potter set up in business on 1 January 19_7 to sell snooker tables of a
standard size and quality designed for home use. He leased a storeroom and
needed no fixed assets. His opening capital was 8,000, represented initially by
the bank balance. The ta
7. Use the map of Kenya below to answer question (a)
i) The forests marked A, B, C and D
ii) In which region is forest A located
b) i) Name four forests located on the highland of Kenya.
ii) List two valuable indigenous hard wo
Track ball is an input device that is mostly used in notebook or laptop computer, instead
of a mouse. This is a ball which is half inserted and by moving fingers on ball, pointer can
be moved. Since the whole device is not moved, a track ball
(Any 4 x1
= 4 marks)
(ii) 11 2 = 5.5 km 2
(iii) 0 0 30 1
On the graph paper
Description of distribution of vegetation
The eastern and south eastern parts of the map are
Use of deposit.
13. Total liabilities
14. Differences between
Total assets and liabilities
In Kenya insurance companies are requir
What are the relevant accounts when auditing debt obligations, and what is the auditors primary
What are the relevant accounts related to stockholders equity transactions?
Identify common transactions affecting s
Saverin Inc. produces and sells outdoor equipment. On July 1, 2016, Saverin Inc. issued $62,500,000 of 10-year, 9%
bonds at a market (effective) interest rate of 8%, receiving cash of $66,747,178. Interest on the bonds is payable
semiannually on December
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:
Split the common stock
The stock outstanding when a corporation has issued only one class of stock.
2 for 1 and reduced the par
Karla Tanner opens a web consulting business called Linkworks and recorded the following transactions in its first month of operations.
Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common
Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders equity The owners equity in a
corporation. Accounts of Morrow Enterprises Inc., with balances on January 1, 2016, are as follows:
Common Stock, $20 stated value (500,000 shares autho
Naturally Beautiful, Inc.
Naturally Beautiful, Inc. is a maker and marketer of organic
cosmetics. Its cosmetics are formulated from all-natural organic
ingredients. Although the company currently serves primarily the
higher-end market, distrib
Trading A/C for the year ended 31 March, 19X5.
Less cost of
Add stock on hire
Less stock on hire
Gross Profit (to P
TR Co. Ltd
Cash flow statement for the year ended 31st March 1996
Net profit before taxation
Adjustment for items not involving movement of cash
Profit on debenture redemption
Provision of depreciation on: Buildi
a) waist band well interfaced (1) on lower side of
b) waist band joined to skirt correctly with straight
stitchery (1cm) back waist band even hemmed
() front waist band tacked()
Straight stitchery (1) evenness of the seam (1) corr
1. ) Tomatoes
1 x 1 = 1mk
2. a) - Nyando
2 x 1 = 2mks
b) - Educating the people on the dangers of lightening and how they can avoid the disaster.
- Ministry of education has provided posters designed to educate people on precau
Turn the binding towards the W. S of seam allowance ( ) fold binding 0.5 cm
towards the WS of binding ( )
Turn over the binding to cover the seam ( ) pin, tack and remove pins machine
along the stitching line or hem down ( )
Remove tacking and press the
Three months later, Omwando Wholesalers reported that 3,500 kg of fat was sold
at Sh95 per kg; and expenses were: godown rent Sh5,000, salesmans salary
Sh7,500, commission 5% of sales.
Omwando Wholesalers also reported a loss of 20kg due to leakage. This
Weather into fertile soils
Forms scenic charm for attraction to tourists
Act as water reservoirs
Form materials for building and construction.
Contain valuable minerals
Act as habitat for wildlife.
2 @ 1 = 2mks.
Is the disintegration an
Trend analysis and cross-sectional analysis.
These are providers of long term funds and they are concerned with the going
concern of the company, its profitability and gearing ratios.
These are providers of short-term funds. They ar
Two parallel reverse faults develops on the crystal rocks.
The outer blocks are pushed / thrust above the middle blocks along their
fault planes. The protruding parts are then removed b
This ratio measures the amount of non-owner supplied funds for every shilling
from the owner.
0.66 = 66%
Long-term debt ratio
This measures the proportion of permanent assets finance
1) To Workings:
N of bonus shares = (20,000 4,000) X = 4,000 shares.
No of rights shares entitlement = (20,000 4,0000 X 1/5 = 3,200 shares.
However rights taken up =
Selling price per right = 0.40
Total proceeds on
To the foruth portion, add 2-3 drops silver (I) nitrate solution followed by 2-3
drops of dilute nitric (V) acid.
( 1 mk)
( 1 mk)
To the last portion, add 2 -3 drops of Brium nitrate solution followed by 2-3 drops of
This is a comparison of the firms performance over time. It is mainly determined
whether the company is progressing as expected. It could also be used to determine
the accuracy of past forecasts.
Methods: Describe the trend