Gr 10 ACC (English) June 2023 Answer Book hlayiso.com

Downloaded from hlayiso.com PROVINCIAL EXAMINATION JUNE 2023 GRADE 10 ACCOUNTING ANSWER BOOK 9 pages NAME OF SCHOOL: NAME OF LEARNER: TOTAL MODERATED QUESTION MARK OBTAINED MARKS MARK 1 55 2 45 3 30 4 40 5 30 TOTAL 200 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 2 ANSWER BOOK GRADE 10 QUESTION 1: GAAP CONCEPTS AND TRANSACTION ANALYSIS 1.1 CONCEPTS MATCH COLUMN A WITH COLUMN B COLUMN A COLUMN B 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 5 1.2 ANALYSIS OF TRANSACTIONS General Ledger Equation Account Account Amount A E L Debit Credit e.g. Stationery Bank R3 000 0 - + A R91 000 B R15 000 C Bank R13 500 D E F 50 TOTAL MARKS 55 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 3 ANSWER BOOK GRADE 10 QUESTION 2: CONCEPTS AND SALARIES JOURNAL 2.1 CONCEPTS 2.1.1 Explain the difference between salaries and wages. Salaries: Wages: 2 2.1.2 To which government departments are the following paid? PAYE: UIF: 2 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 4 ANSWER BOOK GRADE 10 2.2.1 SALARIES JOURNAL OF HAIRCUT 100 FOR DECEMBER 2022 Deductions Basic Total Total Name Bonus Pension Medical UIF Net salary salary earnings PAYE deductions Fund Aid B. Makumo 10 000 B. Makumo 10 000 J. Abrahams 12 000 J. Abrahams 12 000 T. Khumalo 12 000 T. Khumalo 12 000 Total Total Employers contributions Total Name Pension Medical aid UIF contributions fund B. Makumo 100 J. Abrahams 120 T. Khumalo 120 41 Totaal TOTAL MARKS 45 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 5 ANSWER BOOK GRADE 10 QUESTION 3: GENERAL JOURNAL GENERAL JOURNAL OF VICIOUS TRADERS ON 28 FEBRUARY 2023 Debtors' control Creditors' control No Day Details Dr Cr Dr Cr Dt Kt 28 Totals 3 800 960 1 050 170 A B C D E F G H TOTAL MARKS 30 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 6 ANSWER BOOK GRADE 10 QUESTION 4: GENERAL LEDGER AND INTERNAL CONTROL GENERAL LEDGER OF MANINGI TRADERS ON 28 FEBRUARY 2023 4.1.1 DEBTORS’ CONTROL Feb 1 Feb 28 28 14 4.1.2 TRADING STOCK ACCOUNT Feb 1 Feb 28 16 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 7 ANSWER BOOK GRADE 10 4.2 INTERNAL CONTROL 4.2.1 Ray is concerned about the stock figures. He suspects that there are employees who are stealing from the business. Provide calculations to support his concern. Calculations Answer 2 4.2.2 Provide TWO internal control measures that must be implemented to protect stock from theft. 4 4.2.3 Comment on goods returned by customers. Provide figures to support your answer. What control measures must be put in place by a business? Comment: Control measures: 4 TOTAL MARKS 40 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 8 ANSWER BOOK GRADE 10 QUESTION 5: CREDITORS' RECONCILIATION AND INTERNAL CONTROL 5.1.1 CREDITORS' RECONCILIATION GENERAL LEDGER OF KAGISO TRADERS BALANCE SHEET ACCOUNTS SECTION CREDITORS' CONTROL 15 CREDITORS' LIST OF KAGISO TRADERS ON 28 FEBRUARY 2023 NAME Credit S. Mvelase M. Pillay P. George R. Mokoena 11 P.T.O.

Downloaded from hlayiso.com 5.1.2 What measures should be implemented by the business to avoid paying for goods that were not received by the business? Provide TWO points. 4 TOTAL MARKS 30 TOTAL: 200 END