Accounting Grade 10 Gauteng June 2017 Addendum

Downloaded from hlayiso.com GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION JUNE 2017 GRADE 10 ACCOUNTING ANSWER BOOK NAME: ______________________________________________________ GRADE 10:__________ MAXIMUM LEARNER’S QUESTION INITIAL MARKS MARKS 1 60 2 80 3 20 4 15 5 25 TOTAL 200 9 pages P.T.O.

Downloaded from hlayiso.com ACCOUNTING 2 ANSWER BOOK QUESTION 1 : ANALYSIS OF TRANSACTIONS General Ledger Subsidiary Ledger Equation A/c Dr A/c Cr A/c Dr A/c Cr Amount A O L E.g. Stationery Bank R300 - - 0 1 Capital✓✓ Bank✓✓ - - 0 Fixed + 2 Deposit: Bank✓ 0 0 - NB Bank✓ 3 4 5 6 7 8 Interest on 9 Bank  fixed R800 - 0 - deposit✓ 60 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 3 ANSWER BOOK QUESTION 2 : CONTROL ACCOUNTS AND GENERAL JOURNALS 2.1 GENERAL JOURNAL (No narrations needed) Debtors’control Creditors’control Doc D Details F Dr Cr Dr Cr Dr Cr no. 31 Totals 1 800 970 1 150 70 1 Stationery 10 200 Trading stock 10 200* 2 Debtors’ allowances✓ 7 400 J Chan✓ 7 400 7 400 ✓* 3 Bad debts 780 I M Broke 780✓* 780 4 Mario Stores✓ 3 000 3 000✓ Marion Traders✓ 3 000* 3 000✓ ✓ 5 G. Hope 500 500✓ Bad debts recovered 500* 6 T. Pule  1 000 1 000 ✓ T. Pele ✓ 1 000 1 000 * ✓ 5 300 9 150 4 150 4 070 35 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 4 ANSWER BOOK 2.2 General ledger of Jalapeno Traders Debtors’ control account Mar 1 Balance b/d 85 200 230 400 230 400 Apr 1 Balance b/d 115 240 Accept Sundry accounts 16 Creditors’ control account Mar 1 Balance b/d 100 600 Accept Sundry accounts 14 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 5 ANSWER BOOK Trading stock account Mar 1 Balance b/d 190 000 15 80 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 6 ANSWER BOOK QUESTION 3 CREDITORS’ LEDGER OF FAST TRADERS Date Details Fol Debit Credit Balance 20 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 7 ANSWER BOOK QUESTION 4 4.1.1 Loan: ZA Bank Feb 28 Bank✓ ✓✓73 800 Mar 1 Balance ✓380 000 Feb 28 Interest on ✓✓12 240 loan✓ Balance ✓315 440 Mar 1 Balance 315 440 9 4.1.2 Interest on Loan 2 4.2 Calculate the capital amount paid during the financial year. 380 000 ✓ - 315 440 ✓ = 64 560✓ 4 15 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 8 ANSWER BOOK QUESTION 5: SALARIES 5.1 Explain the difference between the terms gross salary and net salary. Gross salary Is the amount earned before any deductions Net salary Is the amount earned after deductions 2 5.2 Complete Mary’s pay-slip for March 2017. PAY-SLIP: MARY MABENA Date: March 2017 Calculation Amount Gross salary 91 200 / 12 7 600 Deductions 3120 / 12 260 Medical aid deduction 1 800 / 2 900 Pension Fund 7 600 x 7.5 % 570 Contributions NET SALARY 9 406 12 P.T.O.

Downloaded from hlayiso.com ACCOUNTING 9 ANSWER BOOK 5.3.1 What is Mr K Bulani’s monthly salary in his first year of service? 5.3.2 What will Mr K Bulani’s increase amount to after the first year? 5.3.3 How many years will Mr K Bulani have to work to reach the second level of his salary scale? 5.3.4 What will Mr K Bulani’s monthly salary be once he reaches the maximum on the salary scale? 5.4 Provide TWO reasons why people are appointed on different salary scales. 11 25 END