GR 10 Engels Memos

Accounting – Grade 10 1 Marking guideline 2023
Free State
GRADE 10
ACCOUNTING
MARKING GUIDELINE
2023
Free State
MARCH TESTS
Copyright reserved Please turn ove

Free State
QUESTION 1
1.1 1.1.1 E ✓
1.1.2 A ✓
1.1.3 D ✓
1.1.4 C ✓ 4
1.2.1
DEBTORS JOURNAL OF THIPANYANE TRADERS
JANUARY 2018 DJ-4
Doc Day Debtor Fol Sales Cost
No of sales
212 5 G. Ntusimi 4 500 3 000
213 16 N. Sicwetsha 1 200 800
214 28 B. Ben 960 640

Free State
1.2.2 CASH RECEIPTS JOURNAL OF THIPANYANE TRADERS – JANUARY 2018

Doc Day Details Fol Analysis Bank Sales Cost Debtors Sundry accounts
No of of sales control
receipts Receipts Discount Amount Fol Details
allowed
B/S 3 POP Bank 60 000  60 000 Loan: POP
Bank
CRR 12 Sales 15 000 15 000 15 000 10 000
11
03 18 B Mashiane 970  970  970 50 
B/S 29 TT Bank 120  120 Interest

income
14

Free State
1.2.3 CASH PAYMENTS JOURNAL OF THIPANYANE TRADERS – JANUARY 2018

Doc Day Details Fol Bank Creditors control Equip- Trading Sundry accounts
No Payments Discount ment stock Amount Fol Details
received
B/S 4 SLY Bank 15 000 15 000 Fixed
Deposit 
334 9 Ncakane Stores 6 480
6 480
335 14 S Tshehla 320
320
B/S 15 Rakotsoana Store 15 730 8 400 7 330
337 25 Thateng Traders 7 600 7 600 400

B/S 29 T T Bank 400 400 Bank
Charges
BT Insurers 365 365 Drawings
16
TOTAL MARKS
40

Free State
QUESTION 2
2.1
2.1.1 Business entity ✓
2.1.2 Historic cost ✓
2.1.3 Matching ✓
2.1.4 Going concern ✓
2.1.5 Materiality  5
GENERAL LEDGER OF NOSI TRADERS

BALANCESHEET ACCOUNT SECTION
2.2.1 BANK
2018 1 Balance 13 555 2018 28 Sundry account 111 700
Feb Feb Total payments
28 Sundry account 106 500 Balance 8 355
Total receipts
120 055 120 055
Mrc Balance 8 355
2.2.2 TRADING STOCK

2018 1 Balance 75 456 2018 28 Cost of sales 44 200
Feb Feb
28 Bank 56 910 Cost of sales 36 000
Creditors Control 64 400 Balance 116 566
196 766 196 766
Mrc Balance 116 566
2.2.3 DEBTORS CONTROL

2018 1 Balance 43 210 2018 28 Bank 13 620
Feb Feb
28 Sales 54 000 Balance 83 590
97 210 97 210
Mrc Balance 83 590
2.2.4 SALES
2018 28 Total 88 600
Feb
Bank 66 300
Debtors control 54 000
208 900
TOTAL MARKS
30
Free State
QUESTION 3
3.1 ACCOUNTING EQUATION

No. Account Account Assets Owner’s Liabilities
debited credited equity
3.1.1 Equipment  Creditors
+ 6 456 ✓ 0 + 6 456 ✓
control 
3.1.2 Drawings  Petty Cash  – 350 – 350  0
3.1.3 Debtors Sales  0
+ 9 000 ✓ + 9 000 ✓
control 
Cost of Trading – 6 000  – 6 000  0
sales  stock 
3.1.4 Bank  Debtors 0 0
± 950 ✓✓
control 
20
3.2 INTERNAL CONTROL AND ETHICS

3.2.1 Provide a reason why the owner suspect that stock is being stolen.
• High stock deficit

• Staff behaving suspicious   2
3.2.2 Suggest TWO internal control measures the owner can employ to resolve
this problem
• Division of duties to ensure that no one is solely responsible for ordering

goods.
• Providing employee lockers to their belongings while on duty.
• Security checks when they enter and leave the premises.
• Using uniforms during working hours.   2
3.2.2 Provide THREE points that you would include in the business code of
ethics which will make it clear to the staff as to what is acceptable and
unacceptable conduct.
• All gifts must be disclosed to management (transparency)
• Gifts and tokens of appreciations become the property of the business.
• Business must only be discussed in the work environment (through
appointments).
• All meetings must be recorded (minutes) or special forms provided.
• Employees not abiding by business policy will face disciplinary
action/dismissal.    6
TOTAL MARKS
30
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Free State
QUESTION 1
1.1
1.1.1 False 
1.1.2 True 
1.1.3 False 
1.1.4 True 
4

Free State
1.2.2 CASH RECEIPTS JOURNAL OF PG STORES – MARCH 2018

Doc Day Details Fol Analysis Bank Sales Cost of Debtors control Sundry expenses
nr of sales Receipts Discount Amount Fol Details
receipts allowed
B/S 5 FNB 153 750 150000 Fixed deposit
 
3 750 Interest on
fixed assets 
CRT 7 Sales 72 000 72 000 24 000
 
B/S 9 C van Zyl 4 250 4 250  250 
CRT 12 Verkope 1 200 1200 1200 1000 
B/S 18 N Kemp 6 825 6 825 Rent income

B/S 30 Nedbank  1 500 1 500 Interest on
current
account 
13

Free State
1.2.3 CASH PAYMENT JOURNAL OF PG STORES – MARCH 2018

Doc Day Details Fol Bank Creditors control Wages Trading Sundry accounts
nr Payments Payments stock Amount Fol Detail
B/S 10 ABSA 27 900 22 500 Loan: ABSA

 
5 400  Interest on loan
345 15 Makro 6 000 6 000
346 Speedy Delivery 1 200 1 200 
347 23 Cash 4 900 2 400  2 500 Drawings 

348 25 Mokolope Stores 24 000 24 000  480 

B/S 30 Nedbank 310  310 Bank charges

13
TOTAL MARKS
30

Free State
QUESTION 2:
2.1 2.1.1 Going concern concept 

2.1.2 Business entity 
2.1.3 Materiality concept 
2.1.4 Matching concept 
2.1.5 Historical cost concept  5
Dr 2.2.1 TRADING STOCK Cr

2019 35 000 2019 20 000
1 Balance b/d 28 Cost of sales CRJ
Feb  Feb 
60 000 35 000
28 Bank CPJ Cost of sales DJ
 
12 000
Creditors control CJ Creditors control CAJ 4 500 

Cost of sales DAJ 350 
48 190
Petty cash PCJ 340  Balance c/d

107 690 107 690
2019 48 190
1 Balance b/d
Mar 
Please note: Account name must be correct to be awarded the mark
12
Dr 2.2.2 Debtors control Cr

2019 12 000 2019
1 Balance c/d 28 Bank  CRJ 10 000
Feb  Feb
Discount
28 Petty cash  PCJ 100  CRJ 1 200 
allowed 
Debtors
Sales  DJ 43 750 DAJ 540 
allowance
Balance b/d 44 410
55 850 55 850
2019
1 Balance c/d 44 410
Mar
12
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2.3 DEBTORS LEDGER OF ANDREWS TRADERS

R Muller
Date Details Fol Debit Credit Balance
2018 1 Balance b/d
450 
May
15 Invoice 56  DJ 4 500  4 950
18 EFT  CRJ 1 500  3 450
24 Credit note 7  DAJ 225  3 225
30 Invoice 57 CPJ 1 500  4 725 
 all folio numbers included
11
TOTAL MARK
40

Free State
QUESTION 3

No. Account Account Assets Owner’s Liabilities
debited credited equity
3.1.1 Debtors control Sales  + 1 200  + 1 200  0
Cost of sales  Trading stock  – 900
– 900  0

3.1.2 Equipment  Creditors control + 10 500  0 + 10 500 

.Creditors control Equipment  - 525 
- 525  0
3
3.1.4 Debtors Debtors control - 100  0
- 100 
allowances  
20
3.2 INTERNAL CONTROL AND ETHICS

3.2.1 Identify TWO problems that contributed to Inge’s petty cash problems.
Any person can take money out of the petty cash 

Inge is not trained to do the work 
Any reasonable answer 4
3.2.2 Suggest TWO solutions that may help Inge in the future.
Give her training on the petty cash 

Proper authorization / Proper documentation 
Any reasonable answer 4
TOTAL MARK
30

Free State
QUESTION 1
1.1 Match the account in column A with the correct concept in column B.
Record only the correct letter to indicate the document in your Answer
book.
1.1.1 D / Current asset ✓

1.1.2 C / Current liability ✓
1.1.3 A / Income ✓
1.1.4 B / Non-current asset ✓
1.1.5 E / Expense  5

Free State
1.2.2 CASH RECEIPTS JOURNAL OF MONTEGO TRADERS – FEBRUARY 2020 CRJ2

Doc Day Details Fol Analysis Bank Sales Cost Debtors control Sundry accounts
No of of sales Receipts Discount Amount Fol Details
receipts allowed
1 1 D. Sello 137 000 137 000 137 000 Capital
CRR
5 Sales 17 010 17 010 17 010 9 450
23
102 18 A. Vorster 1 350  1 350  #1 350 125 
Loan:
2 19 BB Bank 80 000 80 000
BB Bank
Rent
EFT T. Lilly 8 000 8 000 8 000
income
243 360
# 1 475
alternative

Free State
1.2.3 CASH PAYMENTS JOURNAL OF MONTEGO TRADERS – FEBRUARY 2020 CPJ2

Doc Day Details Fol Bank Trading Equip- Creditors control Sundry accounts
No stock ment Payments Discount Amount Fol Details
received
101 3 Mashiane Traders 14 200 9 600 4 600
B/S 7 DD Bank 40 000 40 000 Fixed Deposit 
102 12 Harry Stores 3 854 3 854
103 14 Mkize Traders 14 000 7 540 6 460
104 15 Delta Motors 180 000 180 000 Vehicles
105 16 Minty Traders 13 400 13 400
106 17 DD Carriages 560 560
104 23 Nkomo Traders 1 250 #1 250 125
B/S 30 ASBA Bank 609 488 Bank Charges
Interest on bank
121
overdraft
267 873
#1 375
alternative
25
TOTAL MARKS
50

Free State
QUESTION 2
2.1 Choose a correct GAAP principle from the alternatives provided to suite the
sentences listed below. Write only the principle next to the question number
(2.1.1 – 2.1.4) in the answer.
2.1.1 Historic cost ✓

2.1.2 Matching ✓
2.1.3 Business entity ✓
2.1.4 Going concern ✓
4
GENERAL LEDGER OF MOTLOUNG TRADERS

BANK
2020 31 Sundry account CRJ 2020
Jan Total receipts 1 99 500 Jan 1 Balance 12 564
31 Sundry account CPJ
Balance 31 264 Total payments 1 118 200
130 764 130 764

5
Feb 1 Balance 31 264
TRADING STOCK
2020 2020 31 CRJ
Jan 1 Balance 65 755 Jan Cost of sales 1 41 000
CPJ
31 Bank 1 52 350 Balance 77 105
118 105 118 105

5
DEBTORS CONTROL
2020 2020 31 CRJ
Jan 1 Balance 63 000 Jan #Bank 11 #23 000
#Discount CRJ
received 5 #1 500
Balance 38 500
63 000 63 000

#bank and discount 24 500 5
2 marks

Free State
CREDITORS CONTROL
2020 CPJ 2020
Jan 31 #Bank 11 #41 700 Jan 1 Balance 57 500
#Discount CPJ
received 5 #2 500
Balance 13 300
57 500 57 500

#bank and discount 44 200
6
2 marks
2.2.5 Refer to the Bank account. Should Robbie Stores be satisfied with the cash flows
for the month? Explain and quote figures to support your opinion.
No 
Opening balance is overdraft with R12 564 
OR Closing balance is overdraft with R31 264
3
Explain why a business must not keep too much stock on hand.
Any one possible answer 
Stock can become obsolete
Stock can be stolen
Change/ go out of fashion/Expired 2
TOTAL MARKS
30

Free State
QUESTION 3
No. Account debited Account credited Assets Owner’s Liabilities

equity
3.1.1 Bank Rent income  + 5 000✓ + 5 000✓ 0
3.1.2 Trading stock  Bank ± 7 500✓ 0 0
3.1.3 Bank  Sales  + 6 600✓ +6 600 ✓ 0
Cost of sales  Trading stock  – 4 400 – 4 400 0
3.1.4 Creditors Control  Bank – 940 0 – 940
Creditors Control  Discount received  0 + 60✓ – 60
20
TOTAL MARKS
20

Free State
QUESTION 1
CASH RECEIPTS JOURNAL OF MALINI TRADERS – MARCH 2021
Analysis Cost of Debtors control Sundry accoounts
Doc Day Details Bank Sales
of recepts sales
Receipts Discount Amount Details
150 000
1 1 M. Fourie 150 000 150 000 Capital

CRT1 7 Sales 4 860 4 860 4 860 2 700
CRT2 10 Sales 8 100 8 100 4 500
2 M. Masibi 4 000 12 100 4 000
3 14 M. de Bruyn 950 950 950 50
CRT3 19 Sales 20 160 20 160 20 160 11 200
CRT4 23 Sales 6 120 6 120 6 120 3 400
B/S 30 WW Bank 120 120 Interest income
D. Diaan 6 000 6 000 Rent income
200 310 39 240 21 800
  
25

Free State
CASH PAYMENTS JOURNAL OF MALINI TRADERS – MARCH 2021 CPJ 2

Consu- Creditors control Sundry accounts
Trading Statio-
Doc Day Details Bank Wages mable
stock nery stores Payment Discount Amount Details
1 2 Willie Traders 16 265 14 600 415 1 250
125 000
2 Vrede Motors 125 000 Vehicles

3 7 Cash 3 500 3 500
4 12 BB Stores 24 900 7 400 2 600 14 900 Equipment
5 14 Cash 3 500 3 500
6 22 Cash 3 700 3 700
7 KK Traders 16 500 8 300 3 400 4 800 Equipment
12 960
8 23 TJ Traders 12 960 1 120

9 Speedy Stores 280 280
10 28 M. Fourie 3 000 3 000 Drawings
D/O 29 City council 1 600 1 600 Property tax
B/S 30 WW Bank 235 235 Bank charges
212 480 30 580 3 015 10 700 4 650
    
25

Free State
CREDITORS JOURNAL OF MALINI TRADERS – MARCH 2021 CJ 2

Creditors Trading Consum- Sundry accounts
Doc Day Details Fol Stationery
control stock able stores Amount Details
1 1 TJ Traders 9 500 6 800 2 700
2 8 KA Stores 21 400 13 200 2 300 5 900
3 18 TJ Traders 5 620 3 900 1 200 520 Equipment
4 24 ABC Traders 14 700 13 100 1 600
51 220 37 000 6 200
14
CREDITORS ALLOWANCES JOURNAL OF MALINI TRADERS – MARCH 2021 CAJ2

Creditors Trading Consum- Sundry accounts
Doc Day Details Fol Stationery
control stock able stores Amount Details
1 12 KA Stores 2 170 1 200 450 520
2 21 TJ Traders 1 040 900 120 20 Equipment
3 25 ABS Traders 3 000 3 000
6 210 5 100 570
11
TOTAL MARKS
75

Free State
QUESTION 2
2.1
2.1.1 C 
2.1.2 D 
2.1.3 B 
2.1.4 A 
4
GENERAL LEDGER OF RUBEN TRADERS

2.2.1 BANK
2021 2021
31 Sundry accounts CRJ 114 500 1 Balance b/d 6 500
Jan Jan
Sundry
Balance c/d 14 700 31 CPJ 122 700
accounts
129 200 129 200
Feb 1 Balance b/d 14 700 5
2.2.2 TRADING STOCK

2021 2021
1 Balance b/d 77 000 31 Cost of sales CRJ 44 000
Jan Jan
31 Bank CPJ 53 600 Cost of sales DJ 60 000
Creditors 78 950
31 CJ 52 350 Balance c/d
control 
182 950
182 950

Feb 1 Balance b/d 78 950 8
2.2.3 DEBTORS CONTROL

2021 2021
1 Balance b/d 48 600 31 Bank CRJ 24 500
Jan Jan
Discount
31 Sales DJ 90 000 CRJ 1 700
allowed
112 400
Balance c/d

138 600
138 600
 6
Feb 1 Balance b/d 112 400

Free State
2.2.4 The owners suspects cash is being stolen from the business. Give TWO internal
control measures to prevent this in future.
Two seperate reasons ✓ ✓
Seperation of duties / Rotation of duties

Senior personal must control the money before it is banked
A limited number of people can work at the cash register
Get cash collectors to come and fetch the money from the business
Encourage clients to pay via EFT 2
TOTAL MARKS
25

Free State
1.1.1 CASH RECEIPTS JOURNAL OF SKILLIE TRADERS – FEBRUARY 2022 CRJ2

Doc Day Details Fol Analysis Bank Sales Cost Debtor’s control Sundry accounts
No of of sales Receipts Discount Amount Fol Details
receipts allowed
1 3 Eybers Bank 320 000 320 000 Loan
CRR 5 Sales 43 200 43 200 43 200 24 000
2 7 I. Ingemar 12 825  #12 825 675 
3 23 M. Nel 24 600 24 600
Rent
4 26 VX Agency 16 600 16 600
income
# 13 500
alternative
16

Free State
1.1.2 CASH PAYMENTS JOURNAL OF SKILLIE TRADERS – FEBRUARY 2022 CPJ2

Doc Day Details Fol Bank Trading Consu Creditor’s control Sundry accounts
No stock mable Payments Discount Amount Fol Details
stores received
1 1 Postnet 2 980 2 980 Telephone

2 9 Bell Stores 22 600 22 600 1 400
3 12 Mduma Suppliers 44 900 36 500 8 400
4 13 Fast Carriers 3 500 3 500
5 14 Paper and Co 2 690 2 690 Stationery
6 16 Jonas Stores 48 650 14 450 34 200 Equipment
B/S 28 Eybers Bank 2 250 1 020 Bank Charges
Interest on bank
1 230
overdraft
B/S BB Insurers 8 500 2 000 Drawings
6 500 Insurance
#1 375
alternative
29
TOTAL MARKS
45

Accounting 27 FS/June 2018
Grade 10 Marking guideline
QUESTION 2
GENERAL LEDGER OF LITCHFIELD STORES
BANK
2022 2022 Sundry account CPJ
Feb 1 Balance 45 900 Feb 28 1
Total payments 165 300
2022 Sundry account CRJ
Feb 28 1 Balance 67 100
Total receipts 186 500
232 400 232 400

6
Mar 1 Balance 67 100
TRADING STOCK
2022 2022 DJ
Feb 1 Balance 88 400 Feb 28 Cost of sales 1 66 900
DAJ CRJ
28 Cost of sales 1 15 000 Cost of sales 1 75 000
CPJ Creditors CAJ
Bank 1 96 500 Control 1 5 200
Creditors CJ
Control 1 91 000 Balance 143 800
290 900 290 900

10
Mar 1 Balance 143 800
CREDITORS CONTROL
2022 CPJ 2022
Feb 28 #Bank 1 #29 700 Feb 1 Balance 94 200
#Discount CPJ Sundry account CJ
1 #2 900 28 1 179 000
received Total purchases
Sundry account CAJ
28 1
Total returns 13 780
Balance 226 820
273 200 273 200

#bank and discount 32 600
2 marks Mar 1
8
Balance 226 820
SALES
2022
Feb 1 Total 155 800
DJ
28 Debtors Control 1 107 040
CRJ
Bank 1 120 000
382 840
4

2.2.1 Provide the detail for the entry of R21 000 on the credit side.
Debtor’s allowances 
2.2.2 Provide the detail for the entry of R17 000 on the credit side.
Bank 
2.2.3 Provide the journal folio for the entry of R42 000 on the debit side.
DJ 
2.2.4 Which source document will support the entry of R21 000 on the credit side?
Credit note 
2.2.5 How can the owner verify or confirm that his/her closing balance is correct?
List of debtors 
7
TOTAL MARKS
35

QUESTION 3
3.1 Match the GAAP principle in column A with the correct concept in
column B. Record only the correct letter to indicate the concept in your Answer
book.
3.1.1 D ✓
3.1.2 C ✓
3.1.3 A ✓
3.1.4 B ✓
4
3.2
No. Account debited Account credited A O L
E.g. Trading stock Creditor’s control + 0 +
(a) Drawings Bank - - 0
(b) Debtor’s control Sales + + 0
Cost of sales Trading stock - - 0
(c) Rent expense Bank - - 0
(d) Creditor’s control Stationery 0 + -
(e) Bank Capital + + 0
(f) Vehicles Bank ± 0 0 0
(g) Consumable stores Creditor’s Control 0 - + 16
TOTAL MARKS
20

JUNE
EXAMINATIONS

QUESTION 1
1.1 Match the GAAP Principles in COLUMN A with the correct

explanations in COLUMN B. Write only the letter (A – F) next to the
question number (1.1.1 – 1.1.5) in the ANSWER BOOK.
COLUMN A COLUMN B
1.1.1 F 
1.1.2 C  If more than one response per
1.1.3 A  question, mark it wrong.
1.1.4 D 
1.1.5 B  5
1.2 Show effects of the following adjustments on the Accounting

Equation. NB: Adjustment A has been done for you.
No Account Account Accounting Equation

debited credited Assets Owner’s Liabilities
Equity
A Donations Stationery - 1 650 -1 650 0
B Bank Sales +660 +660 0
Cost of Sales Trading - 440 -440 0

Stock
C Trading Creditors +3 740 0 +3 740
Stock Control
D Bank Debtors ±960 0 0
Control
Discount Debtors -140 -140 0
Allowed Control
E Bank Debtors ± 300 0 0
Control
Bad Debts Debtors -200 -200 0
Control 27
TOTAL MARKS

QUESTION 2
GENERAL LEDGER OF TELLO TRADERS

BALANCE SHEET SECTION
BANK
2018 1 Balance 13 550 2018 31 Sundry account 102 300
May b/d CPJ
 May Total payments 
Sundry account CRJ 99 999 Balance 11 249
c/d
Total receipts  
113 549 113 549
 
2018 1 Balance b/d 11 249
Jun 
7
DEBTORS CONTROL
2018 1 Balance 21 678 2018 31 *Bank 22 222
May b/d CRJ
 May 
31 Bank 2 450 *Discount 3 333
CPJ CRJ
 allowed 
Sales DJ
24 600 Debtors DAJ
6 600
 allowances 
Sundry accounts/ 1 234 Sundry accounts/ 246
Journal debits GJ Journal credits GJ
 
Balance c/d
17 561

49 962 49 962
 
2018 1 Balance 17 561 * Bank and discount
Jun b/d
 allowed 25 555 12
2 marks
COST OF SALES
2018 1 Total 49 987 2018 1 Trading stock 4 400
May b/d DJ
 May 
Trading stock 41 482 31 Total 103 469
CRJ b/d
 
Trading stock DJ
16 400

107 869 107 869
 
2018 1 Total 103 469
Jun b/d 9


2.2.1 Name the document which supports the entry of R34 500 on the
credit side.
Invoice  2
2.2.2 Give ONE possible explanation for the entry of R500 on the credit
side.
Any other reasonable explanation: Part-mark for unclear / incomplete explanation
Interest charged on our overdue account by the creditor 
Transfer of a debtor with a credit balance
Correction of an Error 2
2.2.3 Creditors charged ABC Furnishers interest on overdue accounts.

How can this be avoided in future? Give TWO suggestions.
Prompt payments of accounts 

Negotiate for longer payment period (e.g. 90 days)  4
2.2.4 The balance on the creditors list is not the same as the one in the
Creditors Control account. What should the bookkeeper do to align
them? Give TWO suggestions.
Check the journal entries against the source documents  

Check casting (totalling) of journals
Check posting from journals to the general ledger / creditors ledger 4
2.2.5 ABC Furnishers is not happy with the quality of furniture it is getting
from its suppliers. Provide a figure with an explanation to support
your answer.
Returns to the suppliers 
6 900 / 34 500 = 20% of credit purchases  4

2.3.1 Explain the problem relating to cash deposits. Quote evidence to support
her concern. Give TWO strategies to prevent this in future.
Valid explanation  Evidence 
Expected responses:
Deposits are not being done promptly / Late deposits (leads to cash flow
problems) OR Rolling of cash / could indicate theft
Evidence: Dates or figures
• Deposit of R23 000 on / 12 January / approx. 15 days only deposited

on 27 January 2018
Explain TWO strategies to prevent this in future.
TWO valid points   accept short explanations; may be phrased differently

• Division of duties: The person receiving the money and issuing
receipts should be different from the person completing the deposit
slip and another person should deposit the money at the bank so that
one can serve as a check on the other.
• Senior personnel should check via internet banking / deposit slips
that deposits reflected daily.
• Request SMS from bank for all transactions.
• Use a security company to collect the deposits on a daily/regular
basis.
• Encourage debtors to make direct transfers (EFT). 6
TOTAL MARKS
50

QUESTION 3
DEBTORS LEDGER OF FRALIZE TRADERS

D.DAWIE DL1
Apr Debit Credit Balance
2018 2 134
1 Balance b/d

1 375
5 Invoice 23 DJ 3 509

1 995
9 Receipt 555 CRJ 1 514

139
Discount allowed CRJ 1 375

790
12 Invoice 88 DJ 2 165

415
16 Credit note 154 DAJ 1 750

950
20 Receipt 598 CRJ 800

950
23 Cheque dishonoured CPJ 1 750

24 Interest GJ 25 1 775
1 775 0
30 Bad debts  DAJ
 

TOTAL MARKS
15

QUESTION 4
4.1 Indicate whether the following statements are TRUE or FALSE. Write
only 'true' or 'false' next to the question number (4.1.1–4.1.4) in the
ANSWER BOOK.
4.1.1 False 
4.1.2 True 
4.1.3 True 
4.1.4 True 
4
4.2.1 Identify what is wrong with the job description of Ronnie?
Lack of internal control / Nobody is checking Ronnie’s work / Ronnie is

preforming too many duties. 2
4.2.2 Name THREE internal control measures that needs to be adhered to

regarding Ronnie’s job description.
Division of duties  / The person receiving the money should be different

from the one depositing it
A senior person to supervise Ronnie 
Effectively apply Internal Control 6

Grade 10 Memorandum
SALARIES JOURNAL OF SERVAAS TRADERS FOR MAY 2018 SJ 5
Employees Deductions Cheque

Gross Total number
Medical Nett
salaries PAYE
aid
Pension UIF deductio
salary
ns
B. Bushien 14 800 3 404 530 1 036 148 5 118 9 682 22
P. Piet 9 700 1 940 225 680 97 2 942 6 758 23
24 500 8 060 16 440
Employees Employer’s contribution Total

Medical aid Pension UIF Skill levy Contribution
B. Bushien 1 060 1 480 148 148 2 836
P. Piet 450 970 97 97 1 614
TOTAL MARKS
33
45

Grade 10 38 June 2019
Marking guideline
QUESTION 5
GENERAL JOURNAL – FEBRUARY 2018
Debit Credit
Feb 28 Drawings  1 670
Trading stock  (4) 1 670
Take for personal use
Trading stock deficit  300
Trading stock  (6) 300
Deficit according to stock taking
Consumable stores on hand  1 150
Stationery  (4) 1 150
On hand according to stock taking
Telephone  735
Accrued expense  (4) 735
Telephone not paid
Accrued income  1 800
Commission income  (4) 1 800
Not received
Prepaid expenses  1 000
Insurance  (4) 1 000
Paid in advance
Prepaid expenses  1 200
Advertising  (6) 1 200
Paid in advance
Repairs  1 590
Land and buildings  (4) 1 590
Correct the error
Rent income  4 575
Income received in advance  (6) 4 575
Receive for 13 months
Depreciation  38 200
Acc depr on vehicles  27 640
Acc depr on equipment  (8) 10 560
Calculate depreciation
TOTAL MARKS
50

Marking guideline
QUESTION 1
GENERAL LEDGER ACCOUNTING EQUATION
ACCOUNT DEBITED ACCOUNT CREDITED ASSET OWNER’S LIABI-
EQUITY LITY
1 Water and Bank - 450 - 450 0
Electricity
2 Debtors Allowances✓ Debtors Control✓ - 3 000✓ - 3 000✓ 0

Trading Stock✓ Cost of Sales✓ + 2 400 + 2 400✓ 0
3 Creditors control Trading Stock✓ - 2 750✓ 0 - 2 750✓
4 Postage✓ Petty Cash✓ - 45✓ - 45✓ 0
Debtors Control✓ Sales + 1 250 + 1 250✓ 0

Cost of Sales✓ Trading Stock✓ - 1 000 - 1 000✓ 0
TOTAL MARKS
25

Marking guideline
QUESTION 2
GAAP PRINCIPLES
2.1.1 What does the abbreviation GAAP stand for?

Generally Accepted Accounting Principles✓✓
2
2.1.2 Indicate which of the following GAAP principles would be applied in each
case:
A Materiality Principle✓
B Prudence✓
C Matching✓
D Going-concern✓
E Historical cost✓
5

Marking guideline
QUESTION 3
3.1.1 Fill in the missing amounts in the table denoted by (i) – (iii)
YEAR ANNUAL SALARY

2010 48 000
2011 (i) 52 800 ✓✓
2012 57 600
2013 (ii) 62 800 ✓✓
2014 68 000
2015 (iii) 73 500 ✓✓
2016 79 000
2017 84 500 6
3.1.2 What is Thuto’s monthly starting salary?
48 000/12 = R4 000✓✓
2
3.1.3 In which year will Thuto earn R57 600?
2012✓
1
3.1.4 By what percentage will Thuto’s salary increase at the end of the first year?
4 800
(52 800 – 48 000) ✓/48 000X 100✓ = 10% one part correct accept 10 without%
3.1.5 How many years will Thuto work before he earns an annual salary of
R84 500?
After 7 years OR
In the 8 th year ✓✓
2

Marking guideline
3.2 Net Salary of Hlompho Saint for March 2019.
Gross Salary ✓6 700

Less: Deductions  (1 958)
PAYE ✓✓1 005
Medical aid fund ✓✓350
Pension fund ✓✓536
UIF ✓✓67
Net Salary  4 742
one part correct 11
3.3.1 Is the action being considered by Josie suppliers appropriate? Motivate

your answer by providing ONE point.
Any valid point ✓✓ part marks for unclear/incomplete explanation
• The action is unlawful, it is a breach of the employment contract

• The employee can report the employer to the labour court or to the union, for
implementing unlawful salary cuts
2
3.3.2 What measures/actions should be applied by the employer to increase

productivity levels. Mention TWO points.
Any two valid points ✓✓ ✓✓

part marks for unclear/incomplete explanations
• Train employees
• Increased supervision over employees
4

Marking guideline
3.4 WAGES JOURNAL OF BENJY SUPPLIERS FOR THE WEEK-ENDING 17 MAY 2019 WG12
EMPLOYEE NORMAL TIME OVERTIME GROSS DEDUCTIONS NET EMPLOYER’S

WAGE WAGE CONTRIBUTION
Hrs Tariff Amount Hrs Tariff Amount Pen. PAYE UIF Trade Total SDL Pen. UIF
fund Union fund
T. Kgang 40 50 2 000 5 75 375 2 375 160 285 20 9 474 1 901 23,75 240 20
✓ ✓  ✓ * ✓ ✓ ✓ * * ✓ ✓
M. Mothibe 40 40 1 600 2 60 120 1 720 128 172 16 9 325 1 395 17,20 192 16
✓ ✓  ✓ * ✓ ✓ ✓ * * ✓ ✓
* - one part correct
24
TOTAL MARKS
55

Marking guideline
QUESTION 4
4.1 GENERAL JOURNAL OF NOSI STATIONERS

GENERAL JOURNAL GENERAL LEDGER
Debtors Control Creditors Control
DAY DETAILS Fol Dr Cr Dr Cr Dr Cr
Totals 350 270 120 0
Prepaid expenses 200✓
Insurance 200✓
Water and electricity✓ 1 500✓
Accrued expenses✓ 1 500✓
Bad debts✓ 160✓
C. Khobe✓ 160✓ 160✓
S. Peters✓ 30✓ 30✓
Discount Allowed✓ 30✓
Rent income✓ 3 000
Income received in advance✓ 3 000
Repairs 5 300
Land and building 5 300
Accrued income✓ 400✓
Interest received✓ 400✓
Depreciation✓ 19 450✓
Accumulated depreciation on Vehicle✓ 15 000✓
Accumulated depreciation on Equipment✓ 4 450✓
Trading stock deficit ✓ 7 000✓
Trading stock ✓ 7 000✓
380 430 120
40

Accounting 45 June 2020
Grade 10 – Marking guideline
4.2.1 Matching items
COLUMN A COLUMN B
4.2.1 F✓
4.2.2 D✓
4.2.3 E✓
4.2.4 B✓
4.2.5 A✓ 5
4.3.1 GENERAL LEDGER OF TELLO TRADERS

DR TRADING STOCK CR
Apr 1 Balance b/d 20 600 Apr 30 Cost of Sales✓ CRJ ✓7 000
31 Bank✓ CPJ ✓17 900 Cost of Sales✓ DJ ✓4 400
Cost of Sales✓ DAJ ✓220 Creditors CAJ
✓570
Control✓
Creditors CJ
✓5 990 Balance c/d
32 740
Control✓
44 710 44 710
May 1 Balance b/d 32 740
13
DR SALES CR
Apr 1 Total b/d ✓44 400
30 Bank CRJ ✓14 000
Debtors DJ
✓8 800
Control
67 200
4.3.2 Tello Traders relies on the Accounting records for the calculation of the
closing balance of stock. In your opinion, briefly explain how the stock
balance could be verified.
Any valid point✓✓ Part marks for unclear/incomplete explanations

• Conduct physical stock count
• Check the balance of actual stock on hand against the records of the
2
business
TOTAL MARKS
65
Copyright reserved Turn over please

QUESTION 5
5.1 DEBTORS RECONCILIATION

DETAILS DEBTORS
CONTROL
Balance 21 020
(i) – 4 790✓
(ii) 0
(iii) – 2 210✓
(iv) – 280✓✓
(v) -1 110 one mark – 1 110 one mark OR – 2 220✓✓
(vi) 0
(vii) + 630✓
One part correct 12 150 11
5.2 DEBTORS LIST FOR 31 MAY 2019
DEBTORS AMOUNTS
M. Mary (3 810✓ – 1 500✓) 2 310
P. Papers (4 790✓ – 4 790✓)  0
G. Gordons (8 340✓ + 400✓) 8 740
D. Daniels (2 690✓ – 1 110✓– 1 110✓ + 630✓) 1 100
–2 220 two marks + 630 two marks
12 150
16
5.3 Mention TWO measures that should be implemented by the business before
they can grant credit to customers.
Any TWO valid points ✓✓ ✓✓
• Salary advice slip/ Proof of income

• Proof of residence/Address
• Contact details of family or friends
• Bank statement/ Bank balance
• Identity document
• Credit references/ Credit history
• Email address 4

5.4 Name TWO ways in which you can encourage debtors to pay their accounts on
time.
Any TWO valid points ✓✓ ✓✓
• Receive discount for prompt payment

• Charge interest
• Sent statements regularly
• Contact debtor by phone, e-mail, WhatsApp 4
• Gift for early payment
TOTAL MARKS
35
TOTAL: 200

QUESTION 1
1.1 State if the following statements are TRUE or FALSE.

1.1.1 True 
1.1.2 False 
1.1.3 False 
1.1.4 True 
4
1.2 Calculate the missing figures in the table below.

Calculation Answer
A 3 105 – 2 700 405 
B 6900 + 1 035 or 6 900 x 1.15 7 935 
C 2 700 /15 x 100 18 000 
D 2 700 / 15 x 115 or 18 000 x 1.15 20 700 
E 18 000 x 100/120 15 000  10
1.3 Accounting Equasion
No. Amount debited Amount credited Assets Owners’ Liabilities

equity
1.3.1 Bank Debtors control ± 4 600 0 0
Discount allowed Debtors control – 400 – 400 0
1.3.2 Debtors control Sales + 1 800 + 1 800 0
Cost of Sales Trading stock – 1 200 – 1 200 0
1.3.3 Drawings Trading stock – 250 –250 0
1.3.4 Creditors control  Equipment – 1 800 0 – 1 800 
21
TOTAL MARKS
35

QUESTION 2
WAGES JOURNAL OF MALINDE TRADERS FOR THE WEEK ENDED 15 MAY 2020 LJ 5
Employees Normal time Overtime Gross Deductions

Medical
Hours Rate Amount Hours Rate Amount wage Pension Staff UIF Tax Total
aid
T. Ntaka 45 60 2 700 12 90 1 080 3 780 216 8 27 756 250
L. Janeke 45 40 1 800 8 60 480 2 280 144 8 18 456 150
S. Sebico 40 30 1 200 2 45 90 1 290 96 8 12 258 225
Employer’s distribution
Net wage
Pension Medical aid UIF Total
324 500 27
216 300 18
144 450 12
TOTAL MARKS
30

QUESTION 3
3.1 Name the source documents that are used to record the following
transactions.
3.1.1 Credit note 

3.1.2 Receipt 
3.1.3 Journal voucher 
3.1.4 Debit note  4
3.2.1 Using the information given below calculate the correct balance on the
Debtors Control account and the Debtors List.
DEBTORS CONTROL ACCOUNT

Balance as at 30 April 2020 before adjustments: 36 360
(i) – 2 550 
(ii) + 1 800 
(iii) 0 
(iv) 0 
(v) – 1 700 
(vi) – 3 800 
(vii) + 45 
(viii) – 15 400 
Balance: 14 755  11
3.2.1 DEBTORS LIST
A. Apple (7 500 + 5 300 + 45)

12 845 *
M. Mango (13 600 + 1 800 – 15 400
0 *
L. Lemon (11 800 – 1 540  – 3 800)
- 770 1 mark - 770 1 mark 6 460 *
P. Peach (2 450 – 5 300 – 1 700 
(4 550) *
TOTAL 14 755 *
* one part correct 19

3.3 General ledger of Kabi Traders

Balance sheet account section
Vehicles B3
2019
1 Balance 240 000 Balance 468 000
Mar
Creditors
May 1 180 000
Control
Dec 31 Bank 48 000
468 000 468 000
2020
1 Balance 468 000 6
Mar
3.3 Accumulated depreciation on Vehicles B4

2019
Balance 111 800 1 Balance 80 000
Mar
2020
29 Depreciation 31 800
Feb
111 800 111 800
2020
1 Balance 111 800
Mar
5
3.3 Nominal account section

Depreciation N5
Accumulated
2020 depreciation on 2020 Profit and
29 vehicles 31 800  29 31 800 
Feb Feb Loss
16 000 
+ 15 000 + 800 
TOTAL MARKS
50

QUESTION 4
GENERAL LEDGER OF MASIKE STORES

BANK
2020 31 Sundry account 135 000 2020 1 Balance 25 000
May CRJ
May b/d
Total receipts
Balance 58 000 31 Sundry account 168 000
c/d CPJ
Total payments
193 000 193 000
2018 1 Balance b/d 58 000
Jun 5
TRADING STOCK
2020 1 Balance 23 600 2020 31 Cost of Sales 60 000
b/d CRJ
May May
31 Bank CPJ 66 000 Creditors control CAJ 5 000
Creditors control CJ 58 000 Cost of Sales DJ 36 000
Cost of Sales DAJ 2 300 Balance c/d 49 500
Petty cash PCJ 600
150 500 150 500
2020 1 Balance b/d 49 500
Jun 9
DEBTORS CONTROL
2020 1 Balance 50 000 2020 31 *Bank 45 000
b/d CRJ
May May
31 Sales 50 400 *Discount allowed 5 000
DJ CRJ
Petty cash 125 Debtors 3 220

PCJ DAJ
allowances
Sundry accounts/ 1 500 Sundry accounts/ 800
GJ GJ
Journal debits Journal credits
Balance c/d 48 005
102 025 102 025
2020 1 Balance 48 005 * Bank and discount 50 000
Jun b/d 2 marks 10
CREDITORS CONTROL
2020 31 Bank 40 000 2020 1 Balance 65 000
CPJ b/d
May May
Discount received 6 500 31 Sundry accounts/ 96 000
CPJ CJ
Total purchases
Sundry accounts/ 15 000
Total returns and CAJ
allowances
Balance c/d 99 500
161 000 161 000
* Bank and discount 46 500 2020 1 Balance 99 500

2 marks
b/d
Jun
8
4.2.1 Provide TWO strategies what the business can implemented to solve the cash

problem.
Any TWO strategies 
• Increase his capital

• Obtain a loan
• Buy more on credit
• Limit discount to debtors 2
4.2.2 List TWO ways to motivate debtors to settle their accounts on time
Any TWO strategies 
• Give discount for prompt payment

• Charge with interest if they do not settle account on time. 2
4.2.3 List ONE transactions that will be recorded on the debit side and ONE transaction on
the credit side in the Debtors Control account which was booked over from the
General Journal.
Debit side
Any ONE transaction
Charge with interest

Rectify an error
Take a debtor with a credit balance to his account in the creditor’s ledger
Take a creditor with a debit balance to his account in the debtor’s ledger
Credit side
Any ONE transaction
Wrote off as bad debts

Rectify an error
Take a debtor with a debit balance to his account in the creditor’s ledger 4
Take a creditor with a credit balance to his account in the debtor’s ledger
4.2.4 Explain the concept of ‘division of duties’ is an important internal control method.
Any ONE explanation
Workers must divide the work between themselves.

2
Check each other

4.2.5 The debtors settle their debt in 30 days. Calculate the percentage
discount which the debtors received at the end of May 2020.
5 000 / 50 000 x 100 = 10%  one part correct

3
4.2.6 The business is unhappy with the supplier of stationery and needs to change. Quote
figures to support their decision.
Any ONE reason 
Bought stationery for R10 000 and return R9 000 to the supplier
Send 90% of the stationery back to the supplier
2
4.3 The business maintains the same the mark-up percentage throughout the year.
Calculate the mark up percentage.
CRJ 84 000 – 60 000 = 24 000/60 000 x 100 = 40%

OR
DJ 50 400 – 36 000 = 14 400/36 000 x 100 = 40%
OR
DAJ 3 220 – 2 300 = 920/2 300 x 100 = 40%  one part correct
3
TOTAL MARKS
50

QUESTION 5
GENERAL JOURNAL OF LEO TRADERS – 29 FEBRUARY 2020
Debtors control
J/V Day Details Fol Debit Credit Debit Credit
28 Wages 30 000
Salaries 30 000
Rectify the error
Insurance  450
Accrued expense  450
Outstanding insurance 
adjustment.
Drawings  120
Trading stock  120
Withdrawal of stock by owner 
for personal use.
Bad debts  800
A. Ansie  800 800 
Account written off as 
irrecoverable.
Income receive in advance  4 000
Same as rent
Receive rent in advance 
adjustment.
Depreciation  39 500 
Accumulated depreciation  4 500 
on equipment
Accumulated depreciation  35 000
on vehicles
Depreciation for the year 
provided.
Interest income  1 125
Interest income outstanding 
adjustment.
TOTAL MARKS
35

QUESTION 1
WAGES JOURNAL OF MALINDE TRADERS FOR THE WEEK ENDED 15 MAY 2020 LJ 5
Employees Normal time Overtime Gross Deductions

Medical
Hours Rate Amount Hours Rate Amount wage Pension Staff UIF Tax Total
aid
T. Ntaka 45 60 2 700 12 90 1 080 3 780 216 8 27 756 250
L. Janeke 45 40 1 800 8 60 480 2 280 144 8 18 456 150
S. Sebico 40 30 1 200 2 45 90 1 290 96 8 12 258 225
Employer’s distribution
Net wage
Pension Medical aid UIF Total
324 500 27
216 300 18
144 450 12
TOTAL MARKS
30

Grade 10 - Test 57 June 2022
Marking guidelines
QUESTION 2
2.1 Name the source documents that are used to record the following transactions.
3.1.1 Credit note 

3.1.2 Receipt 
3.1.3 Journal voucher 
3.1.4 Debit note 

Balance as at 30 April 2020 before adjustments: 32 420
(i) + 3 400 
(ii) – 4 500 
(iii) 0 
(iv) 0 
(v) + 3 960 
(vi) – 4 450 
(vii) + 76  11
(viii) + 9 200 
Balance: 40 106 
2.2.2 DEBTORS LIST
A. Adams (8 530 – 7 890 + 76)

536 *
M. Marais (3 320 – 4 500+ 9 200
8 020 *
L. Lukele (14 150 – 2 900  – 4 450)
- 1 450 1 punt - 1 450 1 punt 6 800 *
P. Porogo (12 900 + 7 890  + 3 960
24 750 *
20
TOTAL 40 106 *
* one part correct
TOTAL MARKS
35
QUESTION 3

Marking guidelines
GENERAL JOURNAL OF LEO TRADERS – 29 FEBRUARY 2020

Debtors control
J/V Day Details Fol Debit Credit Debit Credit
28 Wages 30 000
Salaries 30 000
Rectify the error
Drawings  2 400
Trading stock  2 400
Withdrawal of stock by owner 
for personal use.
Bad debts  650
B. Belinda  650 650 
Account written off as 
irrecoverable.
Income receive in advance  3 000
Receive rent in advance 
adjustment.
Insurance  270
Accrued expense  270
Outstanding insurance 
adjustment.
Depreciation  77 000 
Accumulated depreciation  7 000 
on equipment
Accumulated depreciation  70 000
on vehicles
Depreciation for the year 
provided.
Interest income  2 000
Interest income outstanding 
adjustment.
TOTAL MARKS
35

Marking guidelines
QUESTION 1
1.1.1 D ✓
1.1.2 C ✓
1.1.3 A ✓
1.1.4 B ✓
4
CASH RECEIPTS JOURNAL OF ACE SUPPLIERS – MAY 2022 CRJ - 5

Doc Day Details Analysis Bank Sales Cost of Debtors Control Sundry accounts
no. of sales Receipts Discount Amount Fol Details
receipts allowed
B/S 1 M Riande 125 000✓ 125 000✓ Capital
B/S 2 Bata Bank 185 000 185 000 Loan: Bata Bank
Crr 2 17 Sales 22 320 22 320✓ 22 320✓ 12 400
B/S 26 L Lindiwe 3 940✓ 3 940✓ 220✓
Interest on current
B/S 30 Vivo Bank 133 133✓ account/Interest
income
# 4 160
14

Marking guidelines
CASH PAYMENTS JOURNAL OF ACE SUPPLIERS – MAY 2022 CPJ - 5

Doc Day Details Bank Trading Stationery Creditors control Sundry accounts
stock Payments Discount Amount Details
received Fol
EFT 44 6 Snowy 27 300✓ 22 450✓ 3 180✓ 1 670✓ Consumable stores
Traders
EFT 45 11 JJ Garage 165 000✓ 165 000✓ Vehicles
EFT 46 19 Danny Traders 3 900✓ 3 900✓ 360
B/S 30 Vivo Bank *426 426 Bank charges
B/S 30 Bata Bank *3 850 2 000 Loan:Bata Bank
* 4 276 1 850 Interest on loan
Combined for 2 marks
# 4 260
17
TOTAL MARKS
35

Marking guidelines
QUESTION 2
2.1 Calculate the correct balance for the Debtors Control Account for
April 2020 by using ” +” signs for an increase, a ” -” for a decrease and
”0” for no effect.
Debtors control account balance R38 495

(i) + 3 900
(ii) OR – 5 600 one mark – 350 one mark – 5 950 
(iii) – 2 175 
(iv) 0 
No effect
(v) + 332 
(vi) OR + 1 630 one mark + 1 630 one mark + 3 260 
(vii) 0 
No effect
10
(Accept bracket as negative and no sign positive) 37 862 
2.2 Prepare the correct Debtors List for April 2022.

– 5 600 one mark – 350 one mark
B. Mkize ( 5 950 – 5 950✓✓) 0 *
R. Radebe (16 600+ 332) see above 16 932 *
L. Lemoen (11 580 + 810✓+ 3 700✓) 16 090 *

+ 1 630 one mark + 1 630 one mark
B. Brown( 5 280 + 3 260 ✓✓– 3 700) 4 840 *
operation one part correct 37 862 * 13
2.3 Name TWO advantages of EFT payments.

Any TWO advantages  
• Less fraud
• Convenient or easy to use
• Can be done from any place/any time / time-saving/easy
• Payment/receipts are instant / account is updated immediately / no long
queues to deal with 2
TOTAL MARKS
25

Marking guidelines
QUESTION 3
GENERAL LEDGER OF PATENSIE STORES
BALANCE SHEET SECTION
BANK
2022 2022 Sundry account
May
1 Balance b/d 44 950  May 31 CPJ 155 500 
/ Total payments
31 Sundry account CRJ 101 060 
/ Total receipts
Balance c/d 9 490 
155 500 both 155 500
Jun 1 Balance b/d 9 490 5
Must have detail and figure correct. No part marks
TRADING STOCK
2022 2022 3
May
1 Balance b/d 78 800  May 1 Cost of Sales CRJ 39 800 
31 Bank CPJ 103 400  Creditors control CAJ 6 900 
Creditors 79 300  Cost of Sales 23 700 
CJ DJ
control
Cost of Sales DAJ 2 300  Drawings GJ 1 790 
Balance c/d 191 610 
263 800 both 263 800
2022 1 Balance b/d 191 610 
Jun 11
SALES
2022
May
1 Total/balance b/d 204 000
31 Bank CRJ 67 660
Debtors DJ
40 290
Control
311 950 4

Marking guidelines
COST OF SALES
2022 2022
May
1 Total/balance b/d 120 000  May 31 Cost of Sales DAJ 2 300 
31 Trading stock CRJ 39 800  Total c/d 181 200 
23 700 
Trading stock DJ
183 500 both 183 500

June 1 Total b/d 181 200 7
3.5 Calculate the mark-up percentage on cost
 
67 660 – 39 800 = 27 860 / 39 800 x 100 = 70% one part correct
OR
40 290 – 23 700 = 16 590 / 23 700 x 100 = 70%
TOTAL MARKS
30

Marking guidelines
QUESTION 4
4.1 SALARIES JOURNAL OF PARYS MUSICA FOR MAY 2022 SJ 5
Workers Deductions Employers’ contributions

Gross Nett
salary Pension Medical salary Medical Pension
Tax UIF Total UIF Total
fund aid aid fund
P. Piano 8 000  640 900 1 600 80 3 220 4 780 960 1 280 80 2 320
12 000
G. Guitar 960 450 2 400 120 3 930 8 070 1 440 1 920 120 3 480

F. Flute 7 700 616 1 100 1 540 77 3 333 4 367 924 1 232 77 2 2 33
TOTALE PUNTE
35

Marking guidelines
QUESTION 5
5.1 Match the GAAP Principles in COLUMN A with the correct explanations in
COLUMN B. Write only the letter (A – E) next to the question number (5.1.1 – 5.1.5)
in the ANSWER BOOK.
5.1.1 E 
5.1.2 C 
5.1.3 D 
5.1.4 A 
5.1.5 B  5
5.2 No. Amount debited Amount credited Assets Owners’ Liabili-

Equity ties
5.2.1 Trading stock Creditor’s control  + 3 950 0 + 3 950
5.2.2 Drawings Stationery 0 ± 1 500 0


5.2.3 Creditor’s control Trading stock  – 645 0 – 645
5.2.4 Debtors’ Debtor’s control  – 600 – 600 0

allowances 
Trading stock  Cost of sales  + 450  + 450 0
5.2.5 Bank Debtors control ± 1 180 0 0


Discount allowed Debtors control – 120 – 120 0 25
(Accept bracket as negative and positive as plus)
TOTAL MARKS
30

Marking guidelines
QUESTION 6 GENERAL JOURNAL OF BLOEM TRADERS – FEBRUARY 2022

Debtor’s control
J/V D Details Debit Credit Debit Credit
1 28 Telephone 2 425
Accrued expense 2 425
Telephone not paid 2
2 Bad debts  1 350
M. Montso/ Debtors Control  1 350 1 350
Write the account off 5
3 Accrued income  1 200
Interest income / Interest on  1 200
fixed deposit
Interest still receivable 4
4 Trading stock deficit  4 500
Trading stock  4 500
Deficit according to stock count 4
Consumable stores on hand  2 436
Consumable Stores  2 436
On hand according to stock take 4
5 Prepaid expense  2 600
Advertising  2 600
Paid in advance 5
6 Repairs  4 700
Bank charges  4 700
Rectify the error 4
7 Prepaid expense  3 700
Insurance  3 700
Paid in advance 5
8 Rent income  10 500
Income received in advance  10 500
Receive rent in advance 5
9 Depreciation  170 000 
Accumulated depr on vehicles  150 000
Accu depr on equipment 20 000 
Provide for depreciation 7
Narration does not matter
45
TOTAL MARKS
45
TOTAL: 200 MARKS

Marking guidelines
SEPTEMBER
TESTS

Marking guidelines
QUESTION 1
1.1 Choose the correct GAAP principle from the list given for each of
the following statements.
1.1.1 Prudence 
1.1.2 Matching 
1.1.5 Historical cost  3
1.2 RAMODULA CLOTHING STORE

STATEMENT OF COMPREHENSIVE INCOME THE YEAR ENDED
28 FEBRUARY 2019
Sales (9 600 000 – 19 867 + 9 600) one part correct 9 589 733*
Cost of sales (6 400 000 + 6 400) (6 406 400) 
Gross profit operation 7 3 183 333*
Other income operation 81 998
Discount Received 9 998
Rent income (66 000 + 6 000) 72 000*
Gross operating income operation 6 3 265 331

Operating expenses operation (2 248 212) 
Salaries and Wages 1 906 000
Consumable stores (42 111 – 1 542) 40 569
Security services (39 900 – 3 300 ) 36 600*
Water and electricity 45 874
Telephone 49 871
Bad Debts (24 664 + 1 800) 26 464*
Bank charges (12 642 + 1 234) 13 876
Discount allowed (5 380 – 145 ) 5 235
Insurance 56 000
Sundry expenses 42 223
Trading stock deficit (78 500 – 6 400 – 70 300) 1 800*
Depreciation 23 700
Operating profit operation 21 1 017 119
Interest income (9 000+ 3 000) 12 000*
Profit before interest expense operation 1 029 119
Interest expense (240 000 + 96 000 – 280 000) (56 000) *
Net profit for the year operation 7 973 119
* operation one part correct 42
TOTAL MARKS
45

Marking guidelines
QUESTION 2
2.1 MOTAUNG TRADERS
NOTES TO THE BALANCE SHEET
2.1.1 FIXED ASSETS Land &

Vehicles Equipment
buildings
Carrying value at beginning of
year 660 000 400 000 99 500
Cost 660 000 640 000 180 000
Accumulated depreciation 0 (240 000) (80 500)
Additions at cost 215 000 360 000 0

Depreciation
60 000  + 31 500 0 (91 500) (16 000)
Carrying value at end of year 875 000 668 500 83 500
Cost 875 000 1 000 000 180 000
Accumulated depreciation 0 (331 500)  (96 500)
12
2.1.2 TRADE AND OTHER RECEIVABLES (DEBTORS)

Trade Debtors 52 900
Prepaid expenses 3 600
Accrued income 6 850
one part correct 63 350 4
2.1.3 OWNER’S EQUITY

Balance at the beginning 1 950 000
Capital withdrawn one part correct, balancing figure (356 650)
Net income 446 950
Drawings (165 300)
1 875 000 5

Marking guidelines
2.1.4 MOTAUNG TRADERS

STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)
ON 30 JUNE 2019
ASSETS
Non-current assets 2 245 750 
Fixed Assets see 2.1.1 1 627 000 
Financial assets (balancing figure) 618 750 
Current assets 142 950 
Inventory 45 600
Trade and other receivables see 2.1.2 63 350 
Cash and cash equivalents (394 000  – 360 000) 34 000 
TOTAL ASSETS 9 2 388 700 
EQUITY AND LIABILITIES 1 875 000

Owner’s Equity see 2.1.3 1 875 000 
Non-current liabiliti2es 344 000

Loan: PP Bank (440 000 – 96 000) 344 000 
Current liabilities 169 700 
Trade and other payables
73 700 
(426 700  + 7 000– 360 000
Short term loan 96 000 
TOTAL EQUITY AND LIABILITIES 10 2 388 700 
19
TOTAL MARKS
40

Marking guidelines
QUESTION 3
3.1 CALCULATE AND COMMENT ON THE FOLLOWING RATIOS:
3.1.1 ACID TEST RATIO

(400 000 – 170 000) both for one mark
230 000 : 150 000
1,5 : 1  one part correct
Increase from 0,8:1 to 1,5:1 4
3.1.2 CURRENT RATIO
400 000 : 150 000

2,7 : 1  one part correct
Increase from 2,1:1 to 2,7:1 4
3.2.1 Calculate the mark up percentage for the year ended 28 February
2019.
210 000  100

745 000  X 1
= 28,2%  one part correct 3
3.2.2 Should the owner be satisfied? Give ONE reason for your
answer.
No, because he marks the goods up with 30% and only earned
28,2%. See 3.2.1  2
3.2.3 Give ONE possible cause for the change in the mark up
percentage.
Any possible answer 
Competition could lead to decrease in prices.
Change in supplier’s costs, too much trading discount given, errors on
source documents, transactions not recorded. 2
TOTAL MARKS
15
TOTAL: 100

Marking guidelines
QUESTION 1
1.1 Write only the letter (A–D) next to the number (1.1.1–1.1.3) in the
ANSWER BOOK.
1.1.1 C 
1.1.2 A 
1.1.3 B  3
1.2 BONNY TRADERS

STATEMENT OF COMPREHENSIVE INCOME (INCOME
STATEMENT) FOR THE YEAR ENDED 30 JUNE 2020
Sales (960 000 – 22 300) 937 700 
Cost of Sales (640 000) 
Gross Profit 5 297 700 
Operating Income 44 560 
Discount Received 7 560 
Rent Income (40 250 – 3 250) 37 000 
Gross operating income 7 342 260 
Operating expenses (326 590) 
Salaries 102 000 
Telephone (24 300 + 3 100) 27 400 
Bad debts (12 100 +1 350) 13 450 
Water and electricity 33 350 
Stationery (13 400 – 2 300) 11 100 
Discount Allowed (2 800 – 70) 2 730 
Advertisements 25 400 
Insurance (18 600 – 990) 17 610 
Donations 1 800 
Trading Stock deficit (36 500 – 1 800 – 33 750) 950 
Depreciation (60 000+ 20 000 + 10 800) 90 800 
Operating profit 30 15 670 
Interest Income (4 050+ 2 025) 6 075 
Profit before interest expense 21 745 
Interest expense (8 400) 47
Net profit for the year 5 13 345 
TOTAL MARKS
50

Marking guidelines
QUESTION 2
2.1 Write only the term next to the question number (2.1.1–2.1.3) in the
ANSWER BOOK.
2.1.1 Current asset 
2.1.2 Net working capital 
2.1.3 Non-current assets  3
2.2.1 Notes to the Financial statement on 29 February 2020

Calculation Answer
A 780 000 – 220 000 2 560 000 
B 175 000 – 125 000 2 50 000 
see above
C 350 000 + 80 000 – 50 000
OR 4 380 000 
one mark one mark one mark one part
correct
475 000 + 80 000 – 175 000
Old
D 150 000 x 10/100 = 15 000 
17 250 
New 7
90 000x 10/100x 3/12 = 2 250 
15
2.2.2 TRADE AND OTHER RECEIVABLES
Trade debtors 24 400 

Prepaid expenses 1 500 
Accrued income 2 700 
28
600  4
Balance at the beginning of the year 1 494 000 

Net profit for the year 455 000 
Additional capital contributed 80 000 
Drawings (75 600  + 3 500 ) (79 100) 
Balance at the end of the year 1 950 000 7

Marking guidelines
2.2.4 TRADE AND OTHER PAYABLES
Trade Creditors 39 790 

Accrued expenses 5 700 
Income received in advance 3 700 
SARS – PAYE 21 360 
SARS – VAT 5 890 
Pension fund 6 500 
82 940  7
2.3 CALCULATE AND COMMENT ON THE FOLLOWING:
2.3.1 CURRENT RATIO
480 000  : 120 000

4 : 1
Improve from 3,5:1 to 4:1  see answer above 4
2.3.2 ACID TEST RATIO

480 000 – 180 000
300 000  : 120 000
190 000 + 110 000
2,5 : 1 
Improve from 1,6:1 to 2,5:1  see answer above 5
2.3.3 SOLVENCY RATIO

700 000 + 480 000 : 80 000 + 120 000
1 180 000  : 200 000 

5,9 : 1 
Improve from 5,2:1 to 5,9:1  see answer above 6
TOTAL MARKS
50
TOTAL: 100

Marking guidelines
QUESTION 1
1.1 CHOOSE THE CORRECT TERM TO COMPLETE EACH OF THE
FOLLOWING STATEMENTS.
1.1.1 non-current asset 
1.1.2 current liability 
1.1.3 Current asset 
1.1.4 non-current liability  4
1.2 KABI TRADERS

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR
ENDED 28 FEBRUARY 2022
Sales (2 362 500 – 42 500 one part correct 2 320 000 *
Cost of sales (1 350 000)
Gross profit operation 4 970 000 *
Other income operation 254 640 
Discount Received 8 900
Commission Income (110 000 + 10 000) 120 000 *
Rent income (134 500– 11 500) 123 000 *
Bad Debts Recovered 2 740 
Gross operating income operation 10 1 224 640 
Operating expenses operation (453 430) 
Salaries and Wages 155 200
Telephone 36 530
Bank Charges (24 800 + 1 530) 26 330 *
Bad Debts (17 300 + 3 100) 20 400 *
Discount Allowed 7 250 
Insurance (33 850 – 2 400) 31 450 *
Water and Electricity (55 350 + 4 900) 60 250 
Stationery (27 360– 2 700) 24 660 *
Sundry Expenses 31 260 
Trading stock deficit (88 400 – 83 400) 5 000 *
Depreciation 55 100 
Operating profit operation 24 771 210 
Interest income (7 700 + 700) 8 400 *
Profit before interest expense operation 779 610 
Interest expense (18 000 + 6 000) (24 000) 
Net profit for the year operation 8 755 610 
* operation one part correct 46
TOTAL MARKS
50

Marking guidelines
QUESTION 2
MOKOATSI TRADERS

Vehicles Equipment
buildings
Carrying value in
beginning 518 000 304 000 150 000
Cost 518 000 640 000 180 000
Accumulated depreciation (0) (336 000) (30 000)
Movements
Additions 326 000 420 000 36 000
Depreciation
60 800 + 42 000 (0) (102 800) (18 000)
Carrying value at end 844 000 621 200 168 000
Cost 844 000 1 060 000 216 000
18
Accumulated depreciation (0) (438 800)  (48 000)
2.1.2 CASH AND CASH EQUIVALENTS

Bank (75 900 – 36 000 + 125 000) 164 900 
Petty cash 1 560 
Cash float 440 
Fixed deposit 86 000 
one part correct 252 900  8

Balance at the beginning 850 000 
Net income 367 000 
Additional capital 125 000 
Drawings (64 500) 
one part correct 1 277 500  5
2.1.4 TRADE AND OTHER PAYABLES (CREDITORS)

Trade creditors 77 900 
Accrued expenses 7 500 
Income received in advance 13 100 
TOTAL MARKS
35

Marking guidelines
QUESTION 3
3.1.1 Calculate: Mark-up percentage
1 200 000 / 2 400 000 = 50%  operation one part correct
3.1.2 Calculate: Current ratio
262 500  : 105 000  = 2,5:1  operation one part correct
3.1.3 Calculate: Acid test ratio
262 500 – 115 500

147 000 : 105 000  = 1,4:1  operation one part correct
4
3.3 Comment on the liquidity. Quote two financial indicators and figures.
Current ratio increase  from 2:1 to 2,5:1  see 3.1.2

Acid test ratio decrease  from 1,5:1 to 1,4:1  see 3.1.3
The business can easily pay off his short-term debts / Business have too much
trading stock on hand.  5
TOTAL MARKS
15
TOTAL: 100

Marking guidelines
NOVEMBER
EKSAMENS

Marking guidelines
QUESTION 1
ACCOUNTING CONCEPTS AND ANALYSIS OF TRANSACTIONS
1.1 ACCOUNTING CONCEPTS
1.1.1 C ✓
1.1.2 A ✓
1.1.3 F ✓
1.1.4 B 
1.1.5 D  5
1.2 ANALYSIS OF TRANSACTIONS
No. General Ledger Effect

Account Account A OE L
Debited Credited
E.g. Telephone Bank - 500 - 500 0
Bank Debtors Control ± 1 500
1.2.1 0 0
  
Creditors
Stationery - 2 200 + 2 200
1.2.2 Control 0
  

Bank Sales + 9 600 + 9 600
1.2.3 0
   
Cost of sales Trading stock - 6 400 - 6 400
0
   
Creditors
Stationery + 550 - 550
1.2.4 Control 0
  

Bad debts Debtors Control - 400 - 400
1.2.5 0 25
   
TOTAL MARKS
30

Marking guidelines
QUESTION 2
INCOME STATEMENT OF BB TRADERS FOR THE YEAR ENDED 28 FEBRUARY 2018
Sales (914 000✓ – 1 800 ✓– 1 400✓) 910 800 *

Cost of sales (410 000✓ – 840✓) (409 160) *
Gross profit 8 501 640 
working
Other operating income 212 600 
working
Rent income (156 000✓ – 12 000✓) 144 000*
Bad debt recovered 600 ✓
Commission income 68 000✓
Gross operating income 7 714 240 
working
Operating expenses (481 740)
working
Rates and taxes 24 000
Salaries 269 510
Insurance (62 000 ✓– 6 000✓✓) 56 000*
Bad debt (1 600 ✓+ 150✓✓) 1 750*
Stationery (7000✓ – 1200✓) 5 800*
Telephone 14 400 ✓
Water and electricity 8 740 ✓
Trading stock deficit (90 000✓– 88 900✓+ 840✓) 1 940*
Depreciation (90 000✓✓ + 9 600✓✓) 99 600*
Operating profit 24 232 500 
working
Interest income (8 250✓ + 750✓✓) 9 000*
Profit before interest expense 241 500 
Interest expense (36 000 ✓✓+ 2 800✓) (38 800) *
Net profit for the year 11 202 700 
* one part correct
TOTAL MARKS
50

Marking guidelines
QUESTION 3
CONCEPTS, BALANCE SHEET AND NOTES
3.1.1 Historical cost
3.1.2 Matching 
3.1.3 Going concern
3.1.4 Business entity
3.1.5 Materiality 
5
3.2.1 Prepare the following notes to the Balance Sheet for the year ended
28 February 2018.
OWNER’S EQUITY
Capital balance at beginning of the year 1 020 000
Increase in capital contribution 38 000
Net profit for the year 106 000
Drawings (24 000)
Capital balance at the end of the year 1 140 000
one part correct
5
TRADE AND OTHER RECEIVABLES

Trade debtors 86 000
Prepaid expenses 5 500
Accrued income 4 300
95 800
one part correct
4
CASH AND CASH EQUIVALENTS

Bank 19 570 + 38 000 one part correct 57 570
Petty Cash 1 030
Cash float 500
59 100
one part correct
4

Marking guidelines
3.2.2 STATEMENT OF FINANCAIL POSITION (BALANCE SHEET) OF

CHOICE TRADERS ON 28 FEBRUARY 2018
ASSETS
NON CURRENT ASSETS 1 728 135
Fixed assets
1 543 135
2 Financial assets 185 000
CURRENT ASSETS 281 550
 Inventory (114 000 + 12 650) one part correct 126 650
 Trade and other receivables see 3.2.1

95 800
 Cash and cash equivalents see 3.2.1

59 100
10 2 009 685
TOTAL ASSETS same as total equity and liabilities
EQUITY AND LIABILITIES

1
Owner’s Equity see 3.2.1 1 140 000
NON-CURRENT LIABILITIES 750 000

3 Mortgage loan 800 000– 50 000 750 000
one part correct
CURRENT LIABILITIES 119 685

one part correct
Trade and other payables 69 685

(64 350 + 3 000 + 2 335) one part correct
Current portion of loan see loan above 50 000

6 TOTAL EQUITY AND LIABILITIES 2 009 685
one part correct 22
TOTAL MARKS
40

Marking guidelines
QUESTION 4
4.1.1 Gross profit as a percentage on cost of sales.
640 000 – 400 000 = 240 000

240 000✓✓ X 100
400 000 ✓ 1
60%  (one part correct)
4.1.2 Net profit as a percentage of turnover
194 775__✓ X 100

640 000 ✓ 1
= 30,4% (one part correct)
4.1.3 Current ratio.
(27 035 + 22 350 + 825)

50 210 ✓✓ : 13 327 ✓
3,8 : 1 of 3,76 : 1  (one part correct)
4.1.4 Acid test ratio.

(50 210 – 27 035) or 23 175 two marks
0R (22 350 + 825)

50 210✓ – 27 035✓ : 13 327✓
23 175 : 13 327
1,7 : 1  (one part correct)
4
4.1.5 Return on average owner’s equity.
_______ 194 775_✓_______ X 100

½ ✓(635 716 ✓+ 590 000✓) 1
_194 715_ X 100

612 858 1 5
31,8% of 31,77% (one part correct)
4.2 Do you think that Mamka Coffee Shop is satisfied with his gross

Marking guidelines
profit % on cost of sales? Comment and quote figures to support

your answer.
No,✓ she has a mark-up of 65% but only achieved 60% ✓✓-
Could be due to sale or trade discount or inflation.
4.3 Mamka Coffee Shop is satisfied with the liquidity of the business?
Comment through quoting figures to support your answer.
See 4.1.3
Current ratio ✓ increase from 3,3:1 to 3,8:1. ✓
See 4.1.4
Acid test ratio✓increase from 1,4 : 1 to 1,7 :1✓
4.4 Should Mamka Coffee Shop be satisfied with the return on owner’s
equity? Comment through quoting figures to support your answer.
Yes/No✓. Even though it decreased from 39% to 31,8%✓ The

owner should be satisfied because 31,8% is much higher than the
10% which she would have received if she invested the money at
the bank.✓
TOTAL MARKS
30

Marking guidelines
QUESTION 1
1.1 ACCOUNTING CONCEPTS
1.1.1 F ✓
1.1.2 C ✓
1.1.3 A ✓
1.1.4 D 
1.1.5 B 
5
1.2 ANALYSIS OF TRANSACTIONS
Nr. General Ledger Effect

Account debited Account credited A O L
Ex. Telephone Bank - 500 - 500 0
Donation Trading stock -416 -416
1.2.1 0
  
Creditors control -530 -530
1.2.2 Bank 0
  
Creditors control Discount received +50 -50
0
   
Creditors control Trading Stock -6 540 -6 450
1.2.3 0
  
Bank Fixed deposit ±30 000
1.2.4 0 0
  
Interest on Fixed
Bank +3 000 +3 000
deposit 0
  

Trading stock Petty cash ±60
1.2.5 0 0
   25
TOTAL MARKS
30

Marking guidelines
QUESTION 2
STATEMENT OF COMPREHENSIVE INCOME (INCOME STATEMENT) OF CR TRADERS
FOR THE YEAR ENDED 30 JUNE 2019
Sales (340 230 – 6 600✓– 1 200) 332 430 *

Cost of sales (165 200 – 800) (164 400) *
Gross profit 6 168 030 
operation
Other operating income 121 813 
operation
Rent income (99 750 – 8 250✓✓) 91 500 *
Commission income 28 593 ✓
Bad Debts recovered 1 720 ✓✓
Gross operating income 8 289 243 
operation
Operating expenses (196 772) 
operation
Salaries (82 500 + 8 700) 91 200 ✓
Telephone (3 420 + 478) 3 898 ✓
Water and electricity (6 900 + 334) 7 234 *✓
Bad Debts (11 400 + 910✓✓) 12 310 *
Insurance (5 320 – 440✓) 4 880 *
Employers contribution (4 700 + 300) 5 000 * ✓
Trading stock deficit (99 000 + 800 – 90 000) 9 800 *✓
Depreciation (33 600✓+ (250✓+ 28 600✓) 62 450 *
Operating profit 22 93 071 
operation
Interest income 6 000
Profit before interest expense 99 071 
Interest expense (3 300 – 300 +700) (3 700) *
Net profit for the year 4 95 371 
* One part correct
TOTAL MARKS
40

Marking guidelines
QUESTION 3
CONCEPTS, BALANCE SHEET AND NOTES
3.1.1 Non-current liability ✓
3.1.2 Asset ✓
3.1.3 Balance sheet ✓
3.1.4 Trail balance ✓
3.1.5 Capital ✓ 5
3.2.1 Prepare the following notes to the Balance sheet for the year ended
28 February 2018.
FIXED ASSETS
Land and
Vehicles Equipment
buildings
Carrying value at the
370 000 135 360 27 540
beginning
Cost price 370 000✓ 170 000✓ 53 000
Accumulated depreciation (34 640) (25 460) ✓
Movement:
Addition 150 000✓ 0
Depreciation (58 000) ✓ (5 300) ✓
Carrying value at the end 370 000 227 360 22 240
Cost price 370 000 320 000 53 000
Accumulated depreciation (92 640) ✓ (30 760) ✓ 14
OWNERS EQUITY
Balance at beginning of the year 665 452✓
Additional capital contribution 65 000✓
Net profit for the year 110 500✓
Less drawings (35 771) ✓

5
Balance at the end of the year 805 181

Marking guidelines
3.2.2 STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) OF MLABA

TRADERS ON 28 FEBRUARY 2019
ASSETS
NON CURRENT ASSETS 865 600 
Fixed assets see 3.2.1 619 600 
Financial assets balancing figure 3 246 000 
CURRENT ASSETS 54 858 
Stock (42144 + 386) one part correct 42 530 

Trade and other receivables
11 478 
(9 873 +640+965)
Cash and cash equivalents (100+750)
850 
TOTAL ASSETS TE + L 11 920 458 
EKWITY AND LIABILITIES 805 181
Owners’ equity see 3.2.1 1 805 181 
NON CURRENT LIABILITIES 80 000

Mortgage loan 90 000– 10 000  3 80 000 
One part correct
CURRENT LIABILITIES 35 277 

One part correct
Trade and other payables (12 446+ 1 500 +3 441) 17 387 

One part correct
Current part of loan see loan above 10 000 
Overdrawn bank 7 890 
TOTAL EQUITY AND LIABILITES 8 920 458 

One part correct
26
TOTAL MARKS
50

Marking guidelines
QUESTION 4
4.1 Calculate cost of sales for 2019.
560 000 x 100 /140✓ = 400 000  (one part correct)
4.2 Calculate gross profit for 2019.
560 000 ✓– 400 000(See 4.1) = 160 000  (one part correct)
OR OR
560 000 x 40/140 = 160 000 400 000 x 40/100 = 160 000
4.3.1 Calculate current ratio for 2019.
286 000✓✓: 156 000✓
1,8 : 1 (one part correct)

4
4.3.2 Calculate acid test ratio for 2019.
286 000 (see 4.3.1) – 186 000 ✓: 156 000✓

100 000 : 156 000
0.64 : 1 (one part correct)
OF 68 000 one mark + 32 000 one mark 4
4.3.3 The % operating expense on turnover for 2019.
17 000 + 15 000 + 80 000 + 280 000 = 392 000✓✓
392 000 / 560 000✓ = 70%  (one part correct)

Marking guidelines
4.4 Should the business be satisfied with the control over operating
expense in 2019? The percentage for 2018 was 30%.
Explain briefly
No, ✓it increased from 40% to 70%✓ (see 4.4.1)
No, 70 cents of every R1 sold are used to cover for operating

expenses.
2
4.5 State your opinion and compare the net profit for the two years
to support your opinion.
Yes✓ it was successful: Advertisement increased with R10 000 but

sales increased with R160 000.
The net profit on sales increased form 5% to 10%✓✓✓
OF OR
The net profit increased with R36 000. 36 000 100

20 000 X 1 =180%
4
4.6 Calculate the amount for fixed assets for 2019.
A=O+L
(20 000 + 186 000 + 68 000 + 32 000 + X) = 56 000+ 156 000
X= 410 000
OR
560 000✓ + 156 000✓ – 20 000 – (186 000 + 68 000– 32 000)✓✓
= 410 000  OR
710 000 – 20 000 – 286 000 = 410 000 6
TOTAL MARKS
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Marking guidelines
QUESTION 1
1.1 CHOOSE THE CORRECT TERM TO COMPLETE EACH OF THE
FOLLOWING STATEMENTS.
1.1.1 non-current liability 
1.1.2 non-current asset 
1.1.3 current asset  3
1.2.1 INGEMAR TRADERS

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR
ENDED 28 FEBRUARY 2022
Sales (2 635 200 – 35 200 one part correct 2 600 000 *
Cost of sales (1 646 875)
Gross profit operation 4 953 125 *
Other income operation 282 450 
Discount Received 4 590
Commission Income (130 000 – 10 000) 120 000 *
Rent income (139 200+ 13 200) 152 400 *
Bad Debts Recovered 5 460 
Gross operating income operation 10 1 235 575 
Operating expenses operation (595 775) 
Telephone 58 330
Salaries and Wages 185 900
Bad Debts (18 525 + 4 480) 23 005 
Discount Allowed 6 650 
Bank Charges (19 700 + 1 427) 21 127 
Water and Electricity (44 800 + 4 150) 48 950 
Stationery (33 950– 4 290) 29 660 
Insurance (44 580 – 5 400) 39 180 *
Sundry Expenses 87 673 
Trading stock deficit (107 300 – 101 600) 5 700 *
Depreciation 89 600 
Operating profit operation 20 639 800 
Interest income (9 000 + 1 800) 10 800 *
Profit before interest expense operation 650 600 
Interest expense (12 600 + 2 520) (15 120) 
Net profit for the year operation 8 635 480 
* operation one part correct
Foreign items -1 max. 42
TOTAL MARKS
45

Marking guidelines
QUESTION 2
POROGO STORES

Vehicles Equipment
buildings
Carrying value at beginning 525 000 208 000 64 800
Cost 525 000 520 000 80 000
Accumulated depreciation (0) (312 000) (15 200)
Movements
Additions 225 000 360 000 24 000
Depreciation
104 000 + 18 000
6 480 + 200 (0) (122 000) (6 680) 
Carrying value at end 750 000 446 000 82 120
Cost 750 000 880 000 104 000
Accumulated depreciation (0) (434 000)  (21 880)
12
2.1.2 CASH AND CASH EQUIVALENTS

Bank (33 800 – 24 000 ) 9 800 
Petty cash 1 200 
Cash float 550 

Balance at the beginning 575 000 
Net income 212 000 
Additional capital 85 000 
Drawings (58 400) 
Balance at the end of the year one part correct 813 600  5
2.2.1 Calculate: Current ratio
297 000  : 110 000  = 2,7:1  operation one part correct

3
Calculate: Acid test ratio
297 000 – 198 000

99 000 : 110 000  = 0,9:1  operation one part correct
4

Marking guidelines
2.2.2 Comment on the liquidity. Quote two financial indicators and figures.
Current ratio increase  from 2:1:1 to 2,7:1 / OR by 0,6:1  see 2.2.1

Acid test ratio decrease  from 1,2:1 to 0,9:1 OR by 0,3:1 see 2.2.1
The business can pay off his short-term debts / Business have not too
much stock on hand.  5
TOTAL MARKS
35
QUESTION 3
Balance 28 360
(i) 5 750 
(ii) (2 700) 
(iii) 55 
(iv) 0 
(v) 0 
(vi) 3 750 1 mark + 250 1 mark (4 000) 
(vii) (9 070) 
(viii) 1 100 
Operation one part correct 19 495  11
3.1.1 DEBTORS LIST
S. de Swardt (6 350 – 5 150 1 200 *

M. Mkumbeni (11 770 – 2 700 – 9 070 ) 0 *
K. Kompi (8 600 + 55– 1 350 7 305 *
–- 675 one mark – 675 one mark
A. van Tonder (9 840 + 5 150 – 4 000) 10 990 *
– 3 750 one mark – 250 one mark
TOTAL 19 495 *
19
 operation one part correct
TOTAL MARKS
30

Marking guidelines
QUESTION 4
4.1.1 Provide ONE reason why is it important to prepare a budget.

Any ONE acceptable 
• To estimate the receipts and payments

• To calculate the figure of the bank/bank balance
• Calculate surplus/deficit 1
4.1.2 Calculate the following on 30 November 2022.

Total receipts
55 400 + 5 700= 61 100  one part correct
3
Total payments
31 200+ 11 200 + 4 950 = 47 350  one part correct

4
Surplus/Deficit
61 100 – 47 350 = 13 750  one part correct

3
TOTAL MARKS
QUESTION 5
5.1 Choose the description in Column B that best describes the concept in
Column A. Write only the letter (A – C) next to the question number
(5.1.1 – 5.1.3) in the Answer Book.
5.1.1 B 
5.1.2 C 
5.1.3 A  3
5.2.1 Calculations:
Direct labour cost
1 570 x 30 85 x 45
Tello : 47 100 + 3 825 = 50 925
Others: = 233 575
284 500 one part correct
4

Marking guidelines
Factory overheads
Maintenance of factory 11 800
Indirect material 25 400
Water and electricity (48 000 x ¾) 36 000 
Salary - supervisor 81 450 
Rent expenses (160 000x 70%) 112 000 
Wages to cleaners 25 550 
1 (F) – commission * one part correct 292 200 
7
5.2.2 Calculate the direct material cost per unit
372 000 / 1 200 = R310 
5.2.3 Calculate the total cost of production.

see 5.2.1 see 5.2.1
372 000 + 284 500 + 292 200 = R948 700  one part correct
4
TOTAL MARKS
20
TOTAL: 150 MARKS

Marking guidelines
QUESTION 2
2.1 Choose the correct word(s) in brackets to correct the statement. Write
only the word(s) next to the numbers (2.1.1 – 2.1.3) in the ANSWER
BOOK.
2.1.1 Credit 
2.1.2 Debtors Allowances Journal 
2.1.3 Debtors list 
3
2.2.1 Describe in words the transactions that took place on no 1, 2 and 3.
No 1 Goods sold on credit to a debtor 

No 2 Cash received from a debtor paying his account 
No 3 Goods returned by debtor 
3
2.2.2 The business is not selling a good product. Provide ONE reason with
figures to state your answer.
Reason  Figure 
Sales are R18 000 and the returns amounts to R9 000
OR
50 % of the sales were returned to the business 4
2.2.3 Provide ONE reason for the R240 on the debit side and ONE reason for
the R330 on the credit side.
Reason   Part marks can be allocated
Reason for the R240

Charge the debtor with interest /
Rectify an error /
Transfer a debtor with a credit balance to the creditors control
Reason for the R330

Write a debtor off as bad debts
Rectify ab error
Transfer a debtor with a debit balance to the creditors control 4

Marking guidelines
2.2.4 Calculate the correct figure of the balance that Debtors owe at month
end.
4 000 + 9 000 + 330
23 440  - 13 330 = 10 110 

4
2.2.5 Give TWO reasons why a cheque can be returned to the drawer.
Any two reasons  
Insufficient funds
Mistake on the cheque
Cheque is stale
Cheque is not signed
Cheque is post dated 2
2.3.1 Indicate the corrections that must be made to the Creditor's Control
account in the General Ledger and Creditors' list by showing the
amounts with: + for increase; - for decrease.
CREDITORS CREDITORS
CONTROL LIST
Pre-adjustment balance 21 105 25 315
A -1000 
B -2000  -2000 
C -810 
D +9000 
E +4600 
Allocate marks even if totals do not 27 105  27 105 
agree
Operation on part correct. Provincial totals added in.
15
TOTAL MARKS
35

Marking guidelines
QUESTION 3
3.1.1 Calculate the following figures for the budget

Total expected receipts
R20 000  + R64 000  + R8 000 
= R 92 000 operation one part correct 6
Total expected payments.
R 2000 + R1 500+ R2 500 

= R 6 000 operation one part correct
5
The total surplus for the soccer tournament
See above See above

R92 000  – R 6 000 
= R86 000 operation one part correct 3
3.2.1 Calculate the following

Gross profit on cost of sales
432 000 / 720 000  x 100 = 60%  opeation one part correct
3
Net profit on sales
280 560 / 1 152 000  x 100 =24,35 operation one part correct
3
Operating expenses on sales
172 000 / 1 152 000 x 100 =14,9% operation one part correct
TOTAL MARKS
25

Marking guidelines
QUESTION 4
4.1 Match the words in Column A with the most appropriate explanation
provided in Column B. Write the letter only, next to each number.
4.1.1 D 
4.1.2 A 
4.1.3 B 
4.1.4 C  4
4.2. Give TWO examples of variable costs and TWO examples of fixed
costs.
Variable cost  Fixed cost 

Water and electricity Depreciation
Direct material cost Rent expense 4
Direct labour cost Insurance
Etc Etc
4.2.2 Calculate the following

Direct material cost
150 200  + 13 600  = R163 800  operation one part correct
Direct labour cost
96 520  + 20 540  = R117 060  operation one part correct
Factory overhead costs
16 200 + 8 880  +7 740  +15 360  =R 40 180  operation one part correct
-1 for advertising and office stationery
Total cost of production
See above See above See above

163 800  + 117 060  + 40 180  = R 329 040  operation one part correct

Marking guidelines
Unit cost of a jacket
See above
329 040  ÷ 3 000  = R109 ,68  operation one part correct
4.2.3 Ziba is considering importing raw materials because it is cheaper and

of a higher quality. Name TWO aspects that he must consider before
finalising his decision
Any Two  
• The current exchange rate

• The quality of the raw material
• Possibility of job losses
• Support for local businesses and improving the economy.
• The cost of transport due to oil prices
4
TOTAL MARKS
30

Marking guidelines
QUESTION 5
5.1.1 In which section do we record the Trading stock account in the ledger?
Balance Sheet Section 1
5.1.2 Provide the missing contra account for A, B and C.
A Creditors control 
Drawings, Donation OR
B Any ledger account if you are 
correcting an error
3
C Creditors control 
5.1.3 Complete the missing folio numbers for D, E and F.
D CPJ 
E DAJ 
F DJ  3
5.1.4 Provide the source documents in (i), (ii) and (iii).
(i) Receipt / Cash register roll 

(ii) Invoice 
(iii) Debit note  3
5.1.5 There was a burglary on 31 October 2018 and the value of the stock
stolen were correctly calculated as R2 000. Suggest TWO possible
separate reasons prevent this in the future.
Two separate reasons (not theft)  
CCTV alarms / guard at the door /

Regular stock count and compare with the books
Keep less stock but order stock more frequently 4
5.1.6 Provide two reasons (except theft) how a trading stock deficit can
occur
Two separate reasons  
Stock sold and remove from the storeroom but not entered in the trading
stock account yet
Stock purchased and entered in the account but not in the storeroom
4
Stock taken by the owner but not entered in the account yet.

Marking guidelines
5.1.7 The business maintains a mark-up percentage of 80% on cost price.

Calculate the credit sales for the month.
17 320  x 180/100  = 31 176 operation one part correct

3
5.2.1 Calculate the depreciation on 30 June 2018:

Vehicles
Old: 190 000 – 28 500 = 161 500 x 10/100 = 16 150
New: 160 000 x 10/100 x 9/12 = 12 000
= 28 150 operation one part correct 7
Calculate the depreciation on 30 June 2018:

Equipment
Old: 60 000  x 10/100 = 6 000
New: 30 000 x 10/100 x 3/12 = 750
= 6 750 operation one part correct 7
5.2.2 After the extension and repairs were done to the building, the building
was valued at R500 000. Which amount will the business put in the
financial statements?
240 000 + 50 000 = 290 000 operation one part correct

3
5.2.3 Why do you think it is important for any business to do maintenance

on their property?
Because it is an investment to the business and they protect the integrity of
the building through maintenance
To keep it in good working order and to ensure its future efficient

performance 2
TOTAL MARKS
40

Marking guidelines
QUESTION 1
1.1 Choose the correct word(s) in brackets to correct the statement. Write
only the word(s) next to the numbers (1.1.1 – 1.1.4) in the ANSWER
BOOK.
1.1.1 Credit 
1.1.2 Debit note 
1.1.3 Increase 
1.1.4 Cash Payment Journal  4
1.2.1 Provide the correct detail or folio for A – C.
A CPJ 
B Sundry account / Total purchases 
C GJ / J  3
1.2.2 Calculate the correct balance due to creditors on 1 November 2019.
145 300  – (65 000 + 24 000 + 2240)* = 54 060 * one part correct
1.2.3 Provide ONE reason for the entry of R4 900 on the credit side.
Any ONE reason 
• Correct an error
• Creditor charge the business with interest
• Debtor with a credit balance is transferred to the creditors ledger 2
1.2.4 Give TWO reasons why a cheque can be returned to the drawer
(dishonoured)
Any TWO separate reasons  
• Cheque is postdates /stale

• Amount if figure/words differs
• Signature cannot be verified (not happy)
• Torn/mutilated
• Stop payment by the drawer 2

Marking guidelines
1.3.1 Provide ONE reason why the balance in the Debtors’ Control Account
must agree with the balance of the Debtors’ List.
Any ONE reasons 
• Prepared from the same source documents

• Posted from the same journals
2
1.3.2 List the corrections that the bookkeeper must make to the Debtors'
Control Account on 31 October 2019 in the General Ledger.
8 450 1 mark 150 1 mark
48 900 + 6 400 ✓ – 8 600 ✓✓ + 8 700 ✓ = 55 400  operation one part correct
1.3.3 Prepare the correct Debtors List on 31 October 2019.
D. Damien (15 800✓ + 6 400 ✓+ 8 700 ✓ 30 900*

8 450 1 mark 150 1 mark
N. Nocanda (8 600✓– 8 600 ✓✓ 0*
M. Mochela (12 400✓+ 4 489 ✓– 900 ✓ 15 989*
1 050 1 mark 1050 1 mark
K. Katlego (10 900✓– 4 489 ✓ + 2 100 ✓✓ 8 511*
operation one part correct 55 400*
18
TOTAL MARKS
45

Marking guidelines
QUESTION 2
2.1 Indicate whether the following statements are True or False. Write only TRUE
or FALSE next to the numbers (2.1.1 – 2.1.4) in the Answer Book.
2.1.1 False 
2.1.2 False 
2.1.3 True 
2.1.4 True  4
2.2.1 Calculate the missing amounts
(a) 6 720 
(b) 1 008 
(c) 20 700 
(d) 55 200 
8
2.3 NOSI STORES
GENERAL LEDGER OF NOSI STORES
TRADING STOCK
2019 1 Balance b/d 138 500 2019 31 Cost of sales DJ 44 400
May May
 
31 Creditors CJ 71 900 Creditors CAJ 10 880
control  control
Bank CPJ 24 700 Trading Stock GJ 2 500
 deficit
Cost of sales DAJ 22 200 Balance c/d 199 520
 one part correct
257 300 257 300

2019 1 Balance b/d 199 520
June. Must be the Do not accept a credit balance
same as c/d
11
2.3.2 Nosi suspects that customers are stealing stock despite the cameras that
were installed. Provide ONE suitable reason and a figure to support her.
Reason  see 1.3.1
There is trading stock deficit of R5 245.  2
TOTAL MARKS
25

Marking guidelines
QUESTION 3
3.1 Match the words in Column A with the an explanation provided in Column B.
Write the letter only, next to each number in the ANSWER BOOK.
3.1.1 D 
3.1.2 A 
3.1.3 B 
3.1.4 C 
4
3.2.1 Give TWO examples of variable costs and TWO examples of fixed costs
Variable cost  Fixed cost 

Water and electricity Depreciation
Direct material cost Rent expense
Direct labour cost Insurance 4
3.2.2 Calculate the Direct material cost
300 400 + 27 200 = R327 600  one part correct
Calculate the Direct labour cost
193 040 + 41 080 = R234 120  one part correct
3
Calculate the Factory overhead cost
32 400+ 17 760 + 15 480 + 30 720 = R96 360  one part correct
-1 for advertising / office stationery max -1 5

Total cost of production
DMC DLC FOHC

327 600 + 234 120 + 96 360 = R658 080  one part correct 3
Unit cost of rugby jerseys
See above
658 080 ÷ 6 000 = R109,68  one part correct
3

Marking guidelines
3.2.3 Tello is considering importing raw materials because it is cheaper and of a

higher quality. Name TWO aspects that he must consider before finalising
his decision
Any TWO aspects   part marks can be awarded
• The current exchange rate.

• The quality of the raw material.
• Possibility of job losses.
• Support for local businesses and improving the economy.
• The cost of transport due to oil prices. 4
• Can take long to receive the products
TOTAL MARKS
30
QUESTION 4
4.1.1 Provide ONE point why it is important to have an asset register for the
business.
Any ONE point 

It has a detailed record of all fixed assets.
It will help to determine old assets for replacement
Aware of the carrying value/ purchase price
Compare book records to asset list to physical inspection 2
4.1.2 Calculation of depreciation on vehicles
Old: 323 000 – 48 450 = 274 550 x 10/100 = R27 455
New: 272 000 x 10/100 x 9/12 = R20 400
Total: R47 855 one part correct

6
Calculation of depreciation on vehicles
Old: 102 000 – 51 000  x 10/100 = 5 100
New: 51 000 x 10/100 x 3/12 = 1 275
Total: R6 375 one part correct

6

Marking guidelines
4.1.3 After the extension and repairs to land and buildings were completed, the
extensions costed R85 000. Calculate the total amount of Land and buildings
and indicate in which financial statement it will be recorded.
408 000 + 85 000 = R493 000 one part correct

Balance sheet 
3
4.1.4 Explain why you consider maintenance to property to be an important aspect.
• It is an investment to the business and it adds value to the property.

• To keep it in good working order and to ensure its future efficient performance.
• Improve the value
4.2.1 Calculate
% Gross profit on cost of sales
345 600 x 100 = 60%  one part correct

576 000
3
% Net profit on sales
224 448 x 100 = 24,35 /24,3 /24,4%  one part correct

921 600 
3
% Operating expenses on sales
395 640 – 258 048
137 592 x 100 = 14,92 / 14,9/ 15%  one part correct

921 600
5
TOTAL MARKS
30

Marking guidelines
QUESTION 5
5.1 Indicate whether the following statements are TRUE or FALSE. Write only
'true' or 'false' next to the question number (5.1.1–5.1.4) in the ANSWER
BOOK.
5.1.1 False 
5.1.2 True 
5.1.3 True 
4.1.4 False  4
5.2.1 Why it is important to prepare a budget.

Any relevant answer 
• To estimate the receipts and payments or Bank balance
• To predict the financial requirements of a future event
• To estimate needs and decides on how to acquire funds
2
5.2.2 Explain the difference between a “Zero-based budget” and

“ incremental budget”.
Zero-based budget 
start each year from the scratch and do calculations according to current needs.
Incremental budget 
Budget based on the influence of inflation.
5.2.3 Calculate the amount of total cash on 30 September 2019.
23 760  + 16 650  = 40 410  one part correct
Calculate the total payments for September 2019
11 550 + 5 600 + 2 468 + 8 642 = 28 260 one part correct
Shortfall / Surplus
Surplus

Marking guidelines
5.3.1 What decision did Leoneda take regarding the selling price of the lounge
sets?
• Increase the selling price from R2 000 to R2 500 by R500 
How has this decision affected the business? State ONE point.
Gross profit increase from R259 200 to R336 000 by R76 800 
5.3.2 Leoneda change her supplier on fridges during 2019. Explain why this was
not a good decision. Give TWO reasons.
Any TWO reasons  
• Orders drop from 615 to 425 / 190

• Only 200 of the 615 units is sold
• Returns very high from 5 to 115 / 110
TOTAL MARKS
30

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Accounting – Grade 10 1 Marking guideline 2023

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1.2.2 CASH RECEIPTS JOURNAL OF THIPANYANE TRADERS – JANUARY 2018

B/S 29 TT Bank 120  120 Interest

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1.2.3 CASH PAYMENTS JOURNAL OF THIPANYANE TRADERS – JANUARY 2018

337 25 Thateng Traders 7 600 7 600 400

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GENERAL LEDGER OF NOSI TRADERS

2.2.2 TRADING STOCK

2.2.3 DEBTORS CONTROL

3.1 ACCOUNTING EQUATION

3.2 INTERNAL CONTROL AND ETHICS

• High stock deficit

• Division of duties to ensure that no one is solely responsible for ordering

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1.2.2 CASH RECEIPTS JOURNAL OF PG STORES – MARCH 2018

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1.2.3 CASH PAYMENT JOURNAL OF PG STORES – MARCH 2018

B/S 10 ABSA 27 900 22 500 Loan: ABSA

347 23 Cash 4 900 2 400  2 500 Drawings 

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2.1 2.1.1 Going concern concept 

Dr 2.2.1 TRADING STOCK Cr

Please note: Account name must be correct to be awarded the mark

Dr 2.2.2 Debtors control Cr

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2.3 DEBTORS LEDGER OF ANDREWS TRADERS

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3.1 ACCOUNTING EQUATION

3.2 INTERNAL CONTROL AND ETHICS

Any person can take money out of the petty cash 

Give her training on the petty cash 

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1.1.1 D / Current asset ✓

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1.2.2 CASH RECEIPTS JOURNAL OF MONTEGO TRADERS – FEBRUARY 2020 CRJ2

1 1 D. Sello 137 000 137 000 137 000 Capital

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1.2.3 CASH PAYMENTS JOURNAL OF MONTEGO TRADERS – FEBRUARY 2020 CPJ2

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2.1.1 Historic cost ✓

GENERAL LEDGER OF MOTLOUNG TRADERS

130 764 130 764

118 105 118 105

Feb 1 Balance 38 500

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Feb 1 Balance 13 300

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3.1 ACCOUNTING EQUATION

No. Account debited Account credited Assets Owner’s Liabilities

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CASH PAYMENTS JOURNAL OF MALINI TRADERS – MARCH 2021 CPJ 2

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CREDITORS JOURNAL OF MALINI TRADERS – MARCH 2021 CJ 2

CREDITORS ALLOWANCES JOURNAL OF MALINI TRADERS – MARCH 2021 CAJ2