Economic and Management Sciences Grade 8 P1 2026 Memo (Eng)

Mock hlayiso mock exams Practice Series: Grade 8 Exam Preparation WWW.HLAYISO.COM SENIOR PHASE END-OF-YEAR EXAMINATION GRADE 8 ECONOMIC AND MANAGEMENT SCIENCES P1 FINANCIAL LITERACY NOVEMBER 2026 (MOCK) MARKING GUIDELINES MARKS: 75 These marking guidelines consist of 8 pages. Copyright reserved Please turn over

EMS/P1 2 Hlayiso/Mock 2026 Senior Phase – Marking Guidelines GENERAL MARKING GUIDELINES 1. One tick (✓) = one mark. Two ticks (✓✓) = two marks; award ONE mark for a correct method/part answer where indicated. 2. Doc. numbers, days and folio columns in the journals are NOT marked, unless stated. 3. Journals and ledgers: the amount must be in the correct column/on the correct side to earn the mark. Details/sundry account names must be relevant. 4. Consistent accuracy (CA): where an incorrect amount from an earlier part is used correctly later, award the later mark(s). Do not penalise the same error twice. 5. Accept answers that are worded differently but are correct; accept spelling that is clearly understandable. 6. Where a question asks for ONE answer, mark only the FIRST answer given. 7. Foreign entries: in the journals, deduct ONE mark for each wrong entry in a marked column (max. the marks for that journal); do not give negative marks. COGNITIVE LEVELS (approximate): Lower order (knowledge) 23 marks (31%), middle order (application/routine procedures) 46 marks (61%), higher order (analysis/evaluation) 6 marks (8%). Copyright reserved Please turn over

EMS/P1 3 Hlayiso/Mock 2026 Senior Phase – Marking Guidelines SECTION A: SHORT QUESTIONS QUESTION 1 1.1 MULTIPLE-CHOICE QUESTIONS 1.1.1 C✓ proof of EFT payment (EFT advice/bank printout) (1) 1.1.2 B✓ Capital is the owner’s equity account (1) 1.1.3 A✓ Bank (asset) increases; Current income increases OE (1) 1.1.4 B✓ journals are the books of first entry (1) 1.1.5 C✓ income accounts have credit balances (1) (5) 1.2 MATCHING ITEMS 1.2.1 D ✓ (Drawings) (1) 1.2.2 E ✓ (Assets) (1) 1.2.3 A ✓ (Liabilities) (1) 1.2.4 F ✓ (Current income) (1) 1.2.5 B ✓ (Trial Balance) (1) (5) 1.3 TRUE OR FALSE 1.3.1 True ✓ (1) 1.3.2 False ✓ (the source document is the withdrawal slip/cheque (1) counterfoil; a deposit slip is used to pay money in) 1.3.3 True ✓ (1) 1.3.4 False ✓ (expenses are in the Nominal Accounts Section) (1) 1.3.5 True ✓ (1) (5) [15] TOTAL SECTION A: 15 SECTION B: CONCEPTS AND ACCOUNTING EQUATION QUESTION 2: ACCOUNTING CYCLE AND CLASSIFICATION OF ACCOUNTS A Source documents ✓ B Subsidiary journals / cash journals (CRJ and CPJ) ✓ 2.1 C General Ledger ✓ D Trial Balance ✓ The order matters: an answer in the wrong position earns no mark. (4) 2.2.1 Vehicles Asset ✓ 2.2.2 Loan: Ubuntu Bank Liability ✓ 2.2 2.2.3 Advertising Expense ✓ 2.2.4 Rent income Income ✓ (4) [8] Copyright reserved Please turn over

EMS/P1 4 Hlayiso/Mock 2026 Senior Phase – Marking Guidelines QUESTION 3: ACCOUNTING EQUATION Account Effect on accounting equation No. Account credited debited Assets Owner’s Liabilities equity e.g. Bank Current income +3 200 +3 200 0 3.1 Bank Capital ✓ +20 000 +20 000 0✓ 3.2 Equipment Bank ✓ +6 400 0 0✓ −6 400 3.3 Bank Loan: Ubuntu +30 000 0 +30 000 ✓ Bank ✓ 3.4 Telephone Bank ✓ −1 150 −1 150 0✓ 3.5 Drawings Bank ✓ −2 000 −2 000 0✓ Accounts mark: BOTH the account debited and the account credited must be correct. Effects mark: all three columns of the line must be correct (amounts with signs; 0 may be shown as a blank). 3.2: accept “0” or “+6 400/−6 400” for assets. 3.3: accept “Loan” as the account credited. [10] TOTAL SECTION B: 18 Copyright reserved Please turn over

Copyright reserved EMS/P1 SECTION C: CASH JOURNALS QUESTION 4: CASH RECEIPTS AND CASH PAYMENTS JOURNALS 4.1 Cash Receipts Journal of Sparkle Car Wash for August 2026 CRJ1 Analysis of Bank Current Sundry accounts Doc. Day Details Fol. receipts income Amount Fol. Details 001 1 N. Khumalo 45 000 45 000 ✓ Capital ✓ CRR 8 Car washes / Cash 3 950 3 950 ✓ 002 12 Lindiwe’s Hair Salon 2 500 2 500 ✓ Rent income ✓ 5 CRR 31 Car washes / Cash 4 280 4 280 ✓ 55 730 ✓ 8 230 47 500 ✓ Each line: the amount must appear in BOTH the Bank column and the correct analysis column. Totals: one mark for the Bank total; one mark for the Current income AND Sundry totals together (CA: the Bank total must equal the sum of the other totals). The Analysis of receipts column is used only when several receipts are deposited together; do not penalise if the amounts are repeated there. Details are not marked for the CRR lines; accept Cash / Bank / Current income / Cash sales / Car washes / Services rendered. (8) Senior Phase – Marking Guidelines Please turn over Hlayiso/Mock 2026

Copyright reserved EMS/P1 4.2 Cash Payments Journal of Sparkle Car Wash for August 2026 CPJ1 Bank Wages Consumable Sundry accounts Doc. Day Name of payee Fol. stores Amount Fol. Details EFT 01 3 WashTech Suppliers 12 800 12 800 ✓ Equipment ✓ EFT 02 5 Klean Supplies 1 640 1 640 ✓ W 01 15 Cash 2 600 2 600 ✓✓ EFT 03 18 Telkom 1 000 ✓ 620 ✓ Telephone 380 ✓ Drawings 6 EFT 04 25 Mamelodi Community 450 450 ✓ Advertising ✓ News 18 490 ✓ 2 600 1 640 14 250 ✓ Wages: 2 × 1 300 = 2 600 (one mark for the method if only R1 300 is entered). 18th: one mark for the Bank amount R1 000 on ONE line; one mark each for Telephone R620 and Drawings R380 with the correct details. Totals: one mark for the Bank total; one mark for the Wages, Consumable stores AND Sundry totals together (CA). Accept payee “Wages”/“Workers” on the 15th and “Advertising” as payee on the 25th. (12) Senior Phase – Marking Guidelines Please turn over Hlayiso/Mock 2026

EMS/P1 7 Hlayiso/Mock 2026 Senior Phase – Marking Guidelines 4.3 No, I do not agree. ✓ The business and the owner are separate (business entity); Nomsa’s private cellphone bill is her own expense, so it is recorded as drawings (it reduces owner’s equity) and not as an expense of the business. ✓ Award the explanation mark for any correct reason, e.g. “it was not used to earn income for the business”. Do not award the first mark for “yes”. (2) [22] TOTAL SECTION C: 22 SECTION D: GENERAL LEDGER AND TRIAL BALANCE QUESTION 5: GENERAL LEDGER GENERAL LEDGER OF KGOTSO PLUMBING SERVICES BALANCE SHEET ACCOUNTS SECTION 5.1 Dr Bank B5 Cr Date Details Fol. Amount Date Details Fol. Amount 2026 1 Balance b/d 18 600 2026 30 Total CPJ9 33 150 ✓ Sept Sept payments ✓ 30 Total receipts CRJ9 41 350 ✓ Balance c/d 26 800 ✓ 59 950 59 950 ✓ 2026 1 Balance b/d 26 800 ✓ Oct Details mark: “Total receipts”/“Total payments” (accept “Bank”/“Receipts”/“Payments”). Balance c/d: 18 600 + 41 350 − 33 150 = 26 800 (CA). Totals: both totals equal and correct (CA). Balance b/d: CA on c/d, on the debit side. (6) 5.2 Dr Capital B1 Cr Date Details Fol. Amount Date Details Fol. Amount 2026 1 Balance b/d 60 000 Sept 30 Bank ✓ CRJ9 10 000 ✓ Amount mark: R10 000 on the CREDIT side. Details mark: “Bank” (accept “Total receipts”/“CRJ”). (2) 5.3 No. ✓ Any ONE explanation with an item from the information ✓: the R8 200 increase in the bank balance includes the capital contribution of R10 000, which is not income; OR the R15 800 paid for equipment and the R2 500 drawings are not expenses, but they reduced the bank balance. Profit is income minus expenses, not the change in the bank balance. For the marker: profit = (26 850 + 4 500) − (9 600 + 3 270 + 1 980) = 31 350 − 14 850 = R16 500. A learner who shows this calculation earns the explanation mark. (2) [10] Copyright reserved Please turn over

EMS/P1 8 Hlayiso/Mock 2026 Senior Phase – Marking Guidelines QUESTION 6: TRIAL BALANCE 6.1 Trial Balance of Lerato’s Tutoring Services on 31 October 2026 Fol. Debit Credit BALANCE SHEET ACCOUNTS SECTION Capital B1 63 020 ✓✓ Drawings B2 4 800 ✓ Equipment B3 38 500 Vehicles B4 95 000 Bank B5 12 760 Cash float B6 500 ✓ Loan: Ubuntu Bank B7 40 000 ✓ NOMINAL ACCOUNTS SECTION Current income N1 68 400 Rent income N2 9 600 ✓ Wages N3 18 600 Consumable stores N4 3 950 Telephone N5 2 340 Water and electricity N6 3 120 Advertising N7 1 450 ✓ 181 020 181 020 ✓ Capital (balancing figure): total debits = 181 020; credits without capital = 40 000 + 68 400 + 9 600 = 118 000; Capital = 181 020 − 118 000 = R63 020. Award ONE method mark for a correct method with an arithmetic error. Marking: each ✓ only if the account is in the correct SECTION and the amount on the correct SIDE. Bank and Cash float: one mark for both. Current income and Rent income: one mark for both. Consumable stores, Telephone, Water and electricity and Advertising: one mark for all four. Totals: one mark if both totals are equal (CA). Folio numbers and the order of accounts within a section are not marked. (8) 6.2 No. ✓ A Trial Balance only checks that the total debits equal the total credits. Some errors do not affect this, e.g. a transaction left out completely, an amount posted to the wrong account on the correct side, or the same wrong amount recorded on both sides. ✓ (any ONE) (2) [10] TOTAL SECTION D: 20 TOTAL: 75 Copyright reserved