Accounting Grade 10 P2 Gauteng November 2022 Addendum (Eng)

Downloaded from hlayiso.com PROVINCIAL EXAMINATION NOVEMBER 2022 GRADE 10 ACCOUNTING (PAPER 2) ANSWER BOOK NAME OF SCHOOL: NAME OF LEARNER: TOTAL MODERATED QUESTION MARKS OBTAINED MARKS MARK 1 63 2 30 3 25 4 32 TOTAL 150 9 pages P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 2 (PAPER 2) GRADE 10 QUESTION 1: DEBTORS' RECONCILIATION AND INTERNAL CONTROL 1.1 GENERAL LEDGER OF ARAMIS TRADERS Dr DEBTORS' CONTROL Cr 20 1.2 List of debtors as at 30 June 2022 DEBTOR Debit Credit S. Tyler Y. Putin G. Krigler M. Ahmod R. Dire P. Hlope J. Phillip T. Makoe 26 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 3 (PAPER 2) GRADE 10 1.3 Explain the following terms: Credit term Credit limit 4 1.4 A total discount of R6 219 was allowed to debtors. Calculate the actual amount that was received from debtors in June. 3 1.5 The percentage of returns by debtors is 17%. Provide TWO control measures that can be implemented to reduce returns. 4 1.6 In THREE points advise the owner on how to improve collection from debtors. 6 TOTAL MARKS 63 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 4 (PAPER 2) GRADE 10 QUESTION 2: VALUE ADDED TAX AND ETHICS 2.1 CONCEPTS 2.1.1 2.1.2 2.1.3 2.1.4 2.1.5 2.1.6 6 2.2 CALCULATIONS A B C D E F G 14 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 5 (PAPER 2) GRADE 10 2.3 ETHICS 2.3.1 Explain the difference between tax evasion and tax avoidance. 4 2.3.2 (a) Bokang has conducted himself unethically. Explain the action taken by SARS against the VAT vendors who conduct themselves unethically. Provide TWO points. 4 (b) Provide ONE reason why VAT should be paid to SARS on this transaction. 2 TOTAL MARKS 30 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 6 (PAPER 2) GRADE 10 QUESTION 3: TANGIBLE ASSETS AND INTERNAL CONTROL No. CALCULATIONS ANSWER 3.1.1 Accumulated depreciation 2 3.1.2 Cost price of new vehicle 2 3.1.3 Depreciation – vehicles 5 3.1.4 Cost price of equipment at the beginning of the year 2 3.1.5 Depreciation – equipment 2 3.1.6 Carrying value at end of year – equipment 2 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 7 (PAPER 2) GRADE 10 No. CALCULATIONS ANSWER 3.1.7 Cost price equipment – end of the year 2 3.2.1 Explain how the business is affected by private use of its vehicles. Provide TWO points. 4 3.2.2 Provide the control measures that should be implemented by the owner to avoid mismanagement of moveable, tangible assets. State TWO points. 4 TOTAL MARKS 25 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 8 (PAPER 2) GRADE 10 QUESTION 4: COST ACCOUNTING 4.1 CONCEPTS 4.1.1 4.1.2 4.1.3 4.1.4 4.1.5 5 4.2 Explain the difference between fixed costs and variable costs. Variable cost Fixed cost 4 4.3 Complete the following: No. CALCULATIONS ANSWER 4.3.1 Direct material cost per kite for October 2022. 4 4.3.2 Total manufacturing overheads for October 2022. 5 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 9 (PAPER 2) GRADE 10 No. CALCULATIONS ANSWER 4.3.3 Total production cost for October 2022 if 2 500 kites were produced. 7 4.3.4 Unit cost of production. 3 4.3.5 The percentage profit Dan Malgas earned per kite during October 2022, if the kites were sold at R155 each. 4 TOTAL MARKS 32 TOTAL: 150 END