Accounting Grade 10 P2 Gauteng November 2019 Addendum (Eng)

Downloaded from hlayiso.com GAUTENG DEPARTMENT OF EDUCATION PROVINCIAL EXAMINATION NOVEMBER 2019 GRADE 10 ACCOUNTING PAPER 2 ANSWER BOOK NAME: ___________________________________________________________ QUESTION MARKS INITIALS MOD. 1 2 3 4 5 TOTAL 10 pages Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 2 GP/November 2019 Grade 10 – Answer Book QUESTION 1 1.1 VAT 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 1.1.6 6 1.2 ETHICS Comment on the suggestion. Provide TWO points. 4 TOTAL MARKS 10 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 3 GP/November 2019 Grade 10 – Answer Book QUESTION 2 2.1 Prepare a correct Debtors’ Control Account for September 2019 by taking into account errors and omissions. Balance the account. GENERAL LEDGER OF SUNSHINE TRADERS Dr DEBTORS’ CONTROL Cr Bank and 2019 2019 Sep 01 Balance b/d Sep 30 discount CRJ allowed 30 20 2.2 Prepare a correct list of debtors as at 30 September 2019. DEBTOR Debit Credit S. Taylor 6 500 P. Africa G. Kruger M. Ahmed R. Dioka P. Hlapa T. Makobo 21 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 GP/November 2019 Grade 10 – Answer Book 2.3 Discuss TWO strategies that can be implemented to encourage debtors to pay their accounts on time. 4 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 GP/November 2019 Grade 10 – Answer Book QUESTION 3 3.1 Calculate the depreciation on equipment for the year ended 28 February 2019. 5 3.2 Calculate the carrying value (book value) of equipment on 28 February 2019. 4 3.3 ASSET REGISTER CAT Pick- Date ASSET: 1 December 2016 up-Loader Purchased: Depreciation 20% p.a. on Cost price: R110 000 method diminishing balance RECORD OF DEPRECIATION Accumulated Date Depreciation Carrying value Depreciation 28 Feb 2018 26 400 28 Feb 2019 5 3.4 State ONE reason why the asset register is a valuable tool in asset management. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 GP/November 2019 Grade 10 – Answer Book 3.5 State TWO internal control measures that the owner can put in place to reduce the misuse of the delivery vehicle by the driver. 4 TOTAL MARKS 20 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 GP/November 2019 Grade 10 – Answer Book QUESTION 4 4.1 Use the following information to set up the Trading Stock account. Balance the account. GENERAL LEDGER OF BOOMA TRADERS Dr TRADING STOCK Cr 2019 March 1 24 4.2.1 Provide TWO possible reasons for the difference between these two amounts. 4 4.2.2 The business purchases more on cash than on credit. Prove this statement by giving figures (amounts). 2 TOTAL MARKS 30 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 GP/November 2019 Grade 10 – Answer Book QUESTION 5 5.1 MANUFACTURING 5.1.1 (a) (b) (c) 3 5.1.2 Calculate the following. Show calculations clearly. CALCULATIONS ANSWER (i) Direct material cost per kite 4 (ii) Total manufacturing overheads for October 5 (iii) Total production cost for October 2019 if 2 500 kites were produced 7 (iv) Unit cost of production 3 (v) What is the percentage profit Dan earned per kite during October 2019, if the kites were sold at R155 each? 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 GP/November 2019 Grade 10 – Answer Book (vi) Explain the difference between fixed and variable costs. 4 5.2 BUDGETS 5.2.1 What is the aim of preparing a cash budget? 2 5.2.2 Name TWO items which will not appear in a cash budget. 2 5.2.3 If cash sales are 60% of the total sales, calculate the total sales for January. 5 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 10 GP/November 2019 Grade 10 – Answer Book 5.2.4 Determine the cash surplus / (deficit) for March. 3 5.2.5 Determine the bank balance at the end of March. 3 TOTAL MARKS 45 TOTAL: 150 Copyright reserved