Economic And Management Sciences Grade 9 P1 GEC Test 2022 QP

Downloaded from hlayiso.com NATIONAL ASSESSMENT GENERAL EDUCATION CERTIFICATE (GEC) 2022 GRADE 9 PILOT STUDY Subject: Economic and Management Sciences (EMS) PAPER 1 Marks: 75 Duration: 90 Minutes The test consists of 21 pages, excluding the cover page.

Downloaded from hlayiso.com Grade 9 EMS Paper 1: English 1

Downloaded from hlayiso.com Instructions to the learner 1. Read all the instructions and questions carefully. 2. Answer all questions. 3. Use the provided answer booklet to write all your answers. 4. The use of non-programmable calculator is permitted. The test starts on the next page. Do not turn the page until you are told to do so. Grade 9 EMS Paper 1: English 2

Downloaded from hlayiso.com SECTION A 1. Which of the following is a balance sheet account? A Sales B Telephone C Stationery D Capital (1) 2. Which account has a debit balance? A Capital B Creditors Control C Vehicles D Packing Material (1) 3. Which account will be recorded in the debit column of the Trial Balance? A Capital B Bank Overdraft C Cost of Sales D Sales (1) 4. Which of the following is an expense account? A Drawings B Salaries C Trading Stock D Debtors Control (1) Grade 9 EMS Paper 1: English 3

Downloaded from hlayiso.com 5. Which of the following is an income account? A Rent B Stationery C Equipment D Bank (1) 6. Which of the following will be shown under the nominal accounts section in the Trial Balance? A Capital B Sales C Bank D Vehicles (1) Received R15 000 from M. Mdluli in part payment of his account, Receipt 10 issued. 7. Which column of the Cash Receipts Journal will the above transaction be recorded? A Income B Debtors Control C Creditors Control D Sales (1) The bank statement from Commercial Bank showed R1 000 for interest on fixed deposit. 8. What will be recorded in the Sundry Account details column of the Cash Receipts Journal? A Commercial Bank B Interest Income C Bank Statement D Fixed Deposit (1) Grade 9 EMS Paper 1: English 4

Downloaded from hlayiso.com Mbali Ntuli started Enhle Salon by depositing R50 000 in the current account of the business on the 1st of March 2022, Receipt 001. 9. What is R50 000 to Enhle Salon? A Equipment B Drawings C Income D Capital (1) Mbali Ntuli increased her capital from R50 000 to R150 000 after operating for a month on the 1st of April 2022? 10. How much did Mbali Ntuli pay as her capital contribution on the 1st of April 2022? A R50 000 B R150 000 C R100 000 D R200 000 (1) D. de Bryn, a tenant, deposited an amount of R2 000 directly into the business account on 30 June 2022. 11. Why did D. de Bryn deposit R2 000 into the account of the business? A For rent income B For rent expense C For interest income D For interest expense (1) An amount of R5 000 was received from M. Moodley for offices rented to him. 12. In which subsidiary book will the above transaction be recorded? A Cash Receipts Journal B Cash Payments Journal C Debtors Journal D Creditors Journal (1) Grade 9 EMS Paper 1: English 5

Downloaded from hlayiso.com Cash sales of merchandise amounted to R45 000 and R15 000 profit was received. 13. How much was the cost price? A R45 000 B R15 000 C R60 000 D R30 000 (1) Goods to the value of R50 000 were sold for cash at 25% profit mark-up on cost. 14. How much did the goods cost? A R50 000 B R62 500 C R40 000 D R12 500 (1) Tea & Spice Shop sold goods for cash, cost price R10 000 and R5 000 profit. 15. What was the selling price of Tea & Spice Shop? A R15 000 B R10 000 C R5 000 D R20 000 (1) Grade 9 EMS Paper 1: English 6

Downloaded from hlayiso.com The Cash Payments Journal of Mphemba Holdings has the following analysis columns: Trading Stock, Stationery and Creditors Control. Bought merchandise for R21 000 and packing material for R5 000 on the 5th of September 2022. 16. In which columns will the above transaction be recorded? A Bank, Trading Stock and Sundry Accounts B Bank, Trading Stock, Packing Material and Sundry Accounts C Bank, Packing material and Sundry Accounts D Bank, Stationery, Creditors Control and Sundry Accounts (1) The company purchased a computer for the clerk on the 5th of October 2022. This item will be recorded in the Sundry Account. 17. What will be recorded in the Details column of the Sundry Account? A Stationery B Vehicles C Equipment D Drawings (1) Paid weekly wages by Electronic Funds Transfer (EFT) on the 14th of May 2022. 18. What is the source document used to record the above transaction? A Bank Statement B Cash Register Roll C Original invoice D EFT Payment Advice (1) Grade 9 EMS Paper 1: English 7

Downloaded from hlayiso.com Bought goods from Bears Wholesalers and paid by EFT. 19. Which subsidiary book and columns will the above transaction be recorded? A Cash Receipts Journal, Bank, Sales and Cost of Sales B Cash Payments Journal, Bank and Trading Stock C Debtors Journal, Debtors Control, Sales and Cost of Sales D Creditors Journal, Creditors Control and Trading Stock (1) 28 February 2022 Whoopy Stores made an EFT payment to Izimbali Creations for goods bought on credit in December 2021, R10 000. 20. In which columns will the above transaction be recorded? A Bank, Trading Stock and Sundry accounts B Bank, Wages and Sundry accounts C Bank and Creditors control D Bank and Debtors control (1) An extract from the books of Zimdolar Inc. on the 1st of August 2022: Debtors Ledger Creditors Ledger D4 S. Samuels R8 500 C2 Quik Wholesalers R11 000 Zimdolar Inc. bought goods on the 16th of August 2022 from Quik Wholesalers for R20 000 and paid by EFT all the amount owing. 21. How much will be paid to Quik Wholesalers on the 16th of August 2022? A R31 000 B R28 500 C R11 000 D R20 000 (1) Grade 9 EMS Paper 1: English 8

Downloaded from hlayiso.com Swiss Ltd paid Khumalo Estates R35 000 by EFT for the let business premises. 22. How will the above transaction be reflected in the Sundry Accounts of Swiss Ltd? A Amount Details 35 000 EFT Amount Details B 35 000 Khumalo Estates Amount Details C 35 000 Business premises Amount Details D 35 000 Rent Expense (1) The owner, S’busiso, took groceries on the 14th of February 2022 for Betty (the wife) R2 500. 23. What will be shown in the details column of the Sundry Account in the Cash Payments Journal? A Groceries B S’busiso C Drawings D Betty (1) Grade 9 EMS Paper 1: English 9

Downloaded from hlayiso.com An extract: Debtors Journal of Koos Enterprises August 2022 DJ8 Doc. Day Debtor Fol. Sales Cost of sales No. 100 12 D. Danisa D5 16 500 12 500 24. What is the source document used to record the above transaction? A Duplicate invoice B Original invoice C Duplicate credit note D Original credit note (1) Lucky Ltd supplied goods costing R30 000 on credit to Lion Ltd. 25. Who is a debtor in the above transaction? A Supplier B Lion Ltd C Merchandise D Lucky Ltd (1) Goods were sold on credit to Bape Traders at a cost price of R9 600 (profit R1 030). 26. How much does Bape Traders owe? A R1 030 B R9 600 C R8 570 D R10 630 (1) Grade 9 EMS Paper 1: English 10

Downloaded from hlayiso.com Bestie Manufacturers sells goods to TJ Pitse on credit for R5 000, mark-up 75%. 27. How much will be recorded as cost price in the Debtors Journal? A R2 142.86 B R2 857.14 C R8 750.00 D R7 143.00 (1) Transaction on 3 September 2022 for Zoe Shop: Bought printer cartridges on credit from Bham Bookshop for R2 500. Sold goods on credit to DJ Trans for R1 700 and to ZD Music for R2 000. 28. Who is the creditor in the above transactions? A DJ Trans B Zoe Shop C Bham Bookshop D ZD Music (1) Received credit invoice from ZP Suppliers for the purchase of the following: Trading Stock R600 and Stationery R310. 29. In which columns of the Creditors Journal will the above transaction be recorded? A Creditors Control and Sundry Account B Creditors Control and Trading Stock C Creditors Control, Trading Stock and Stationery D Creditors Control, Stationery and Sundry Account (1) Grade 9 EMS Paper 1: English 11

Downloaded from hlayiso.com Bought packing material and consumable stores on credit from Akky Traders, R1 200 and R3 400 respectively. 30. How much will be recorded in Creditors Journal for packing material? A R3 400 B R4 600 C R1 200 D R2 200 (1) 4 January 2022 Letlape Stores bought pens, pencils, staples and staplers on credit from Stars Bookshop for R5 010 as per invoice 23. 31. What will be recorded in the Sundry Account column? A Stationery B Trading Stock C Packing Material D Creditors Control (1) An inexperienced bookkeeper wrongly recorded the credit purchase of furniture in the Cash Payment Journal. 32. In which journal was the above transaction supposed to be recorded? A Debtors Journal B Cash Receipt Journal C Creditors Journal D Cash Payment Journal (1) Grade 9 EMS Paper 1: English 12

Downloaded from hlayiso.com Your company bought a vehicle from ABC Garage on credit for R120 000. 33. Why is the vehicle recorded in the Sundry Accounts? A Vehicles are not bought regularly and do not have a column. B Expensive purchases must be recorded in the Sundry Accounts. C Sundry accounts is a column for recording only vehicles. D New vehicles are always recorded in the Sundry Accounts. (1) Received Credit invoice 142 from Thulari Wholesalers for the following: trading stock R7 800 and packing material R3 600. 34. How much will be recorded in the Creditors Control column? A R3 600 B R7 800 C R4 200 D R11 400 (1) BB Keys made an EFT payment for office cleaning material of R4 200 on the 11th of September 2022. 35. How are the accounts analysed on the Accounting Equation? A Bank is debited and BB Keys is credited B Bank is credited and Cleaning Material is debited C Bank is debited and Cleaning Material is debited D Bank is credited and Owners’ Equity is debited (1) Grade 9 EMS Paper 1: English 13

Downloaded from hlayiso.com An EFT payment of R9 700 was made by Easy Stores on the 7th of May to Platinum Cash and Carry as part payment of amount owed. 36. What will be the effect on the Accounting Equation? A A = OE + L -9 700 0 +9 700 B A = OE + L -9 700 +9 700 0 C A = OE + L 0 +9 700 -9 700 D A = OE + L (1) -9 700 0 -9 700 Grade 9 EMS Paper 1: English 14

Downloaded from hlayiso.com Monthly rent of R3 500 was received from KP Pilane. 37. How will the above transaction be analysed on the Accounting Equation? A A = OE + L Effect Reason Effect Reason Effect Reason -3 500 Bank -3 500 Rent Expense decreases decreases OE B A = OE + L Effect Reason Effect Reason Effect Reason -3 500 Bank -3 500 Creditors decreases Control increases C A = OE + L Effect Reason Effect Reason Effect Reason +3 500 Bank +3 500 Rent Income increases increases OE D A = OE + L Effect Reason Effect Reason Effect Reason +3 500 Bank +3 500 Rent Income (1) increases increases Liabilities Grade 9 EMS Paper 1: English 15

Downloaded from hlayiso.com Marumola Stores received an EFT payment from Tau Shop in settlement of account, R7 290. 38. How will the above transaction be analysed on the Accounting Equation? A A = OE + L -7 290 0 +7 290 B A = OE + L -7 290 0 0 +7 290 C A = OE + L +7 290 -7 290 0 D A = OE + L +7 290 0 0 (1) +7 290 Lucy deposited R50 000 into the business account at Nedbank, as her capital contribution. 39. What is the effect on the Accounting Equation? A A = OE + L 0 +50 000 +50 000 B A = OE + L -50 000 +50 000 0 C A = OE + L +50 000 +50 000 0 D A = OE + L (1) +50 000 0 -50 000 Grade 9 EMS Paper 1: English 16

Downloaded from hlayiso.com Made an EFT payment to Telkom, R2 300, for business telephone. 40. What effect does the transaction have on the Accounting Equation? A A = OE + L Effect Reason Effect Reason Effect Reason -2 300 Telephone +2 300 Creditors decreases OE Control increases B A = OE + L Effect Reason Effect Reason Effect Reason +2 300 Bank +2 300 Creditors increases Control increases C A = OE + L Effect Reason Effect Reason Effect Reason -2 300 Bank -2 300 Telephone decreases decreases OE (1) D A = OE + L Effect Reason Effect Reason Effect Reason +2 300 Bank -2 300 Telephone increases decreases OE Grade 9 EMS Paper 1: English 17

Downloaded from hlayiso.com An EFT payment to the landlord, PJ Klaas, R4 100 for premises rental and R3 500 for storage rental was made on the 28th of April 2022. 41. How much will be posted to Rent Expense Account? A R3 500 B R4 100 C R600 D R7 600 (1) Made an EFT payment to Moses Kotane Municipality, R1 560, for water and electricity. 42. How will the double entry principle be applied in the above transaction? A Debit Bank Account and credit Water and Electricity B Credit Moses Kotane Municipality and credit Bank Account C Debit Water and Electricity and credit Bank Account D Credit Water and Electricity and debit Moses Kotane Municipality (1) When goods are bought for cash in the business; Bank will be credited. 43. Which account will be debited in the General Ledger? A Trading Stock B Bank C Cost of Sales D Sales (1) Grade 9 EMS Paper 1: English 18

Downloaded from hlayiso.com The following information was extracted from the General Ledger of Kitso Events for August 2022: Creditors Control R28 305 (1 August 2022) Total Purchases from the Creditors Journal R52 450 Total payments to creditors R26 500 44. What will be the balance for Creditors Control on the 1st of September 2022? A R28 305 B R54 805 C R26 500 D R54 255 (1) IJ Metsileng, the owner of Base Holdings, increased her capital contribution from R35 000 to R70 000. 45. How is the above transaction posted to the General Ledger? A Debit Capital Account and credit Bank Account, R35 000 B Credit Capital Account and debit Bank Account, R35 000 C Debit Capital Account and credit Bank Account, R70 000 D Credit Capital Account and debit Bank Account, R70 000 (1) [45] Grade 9 EMS Paper 1: English 19

Downloaded from hlayiso.com SECTION B The following information appeared in the books of JJ Stores during March 2022. JJ Stores sells goods at a profit mark-up of 50% on cost. Transaction: 5 March 2022 Cash sales of merchandise according to cash register roll amounted to R25 000. 46. Use the above information to prepare the Cash Receipts Journal of JJ Stores on 31 March 2022. (5) The following information appeared in the books of Coco Retailers during May 2022 Transaction: 31 May 2022 Coco Retailers paid TELCO by EFT for business telephone account and owner’s telephone account, R2 000 and R550 respectively. 47. Record the above transaction in the Cash Payments Journal of Coco Retailers on 31 May 2022. (5) On the 25th of February 2022, bought goods from Pick & Carry credit for R23 300 Invoice 012. 48. Use the above transaction to complete the Creditors Journal of BoB Stores for February 2022. (5) SS Johnson sold merchandise for R4 500 cash to L. Lucas with a profit mark-up 50%. Issued Receipt 123. 49. Show the effect of the transaction above on the Accounting Equation. (7) Grade 9 EMS Paper 1: English 20

Downloaded from hlayiso.com The following information was extracted from the books of PK Motors: Debtors Control R31 560 (opening balance) Total Sales from the Debtors Journal R66 450 Total payments from debtors R34 510 50. Use the above information to complete the Debtors Control Account in the General Ledger of PK Motors for May 2022. Balance the account at the end of the month. General Ledger of PK Motors Balance Sheet Section Accounts Debtors Control Account Date Details Fol Amount Date Details Fol Amount 2022 ? Balance b/d ? 2022 31 ? CRJ 8 ? May May 31 Sales ? ? Balance c/d ? ? ? June 1 Balance b/d ? (8) [30] End of test Grade 9 EMS Paper 1: English 21

Downloaded from hlayiso.com Grade 9 EMS Paper 1: English 22