WATERBERG DISTRICT

ECONOMIC AND MANAGEMENT SCIENCES

NOVEMBER 2021

CONTROLLED TEST 1 GRADE 9

70 MARKS 90 MINUTES

NAME OF LEARNER: ___________________________________CLASS:_______

INSTRUCTIONS
 Answer all the questions on the given answer sheet
 Learners may make use of non-programmable calculators
 Write neatly and legible
 Good Luck!!

QUESTION TOPIC TOTAL MARKS TIME

1 GENERAL 15
2 ACCOUNTNIG EQUATION 14
3 CRJ, CPJ, DJ AND CJ 34
4 GENERAL LEDGER 07
TOTAL 70

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QUESTION 1 GENERAL 15 marks
1.1 Choose the correct answer. Write only the letter (A –D) next to the question
number (1.1.1 to 1.1.5) in the answer book, e.g. 1.1.6. E

1.1.1 A business that sells time rather than products e.g. Hairdresser, plumber,
doctors and lawyers etc.

A Service business
B Trading business
C Retailers
D Wholesalers

1.1.2 A business deal between two persons

A Capital
B Assets
C Transaction
D Liability

1.1.3 The profit that is added to the cost price of a product to calculate the selling
price.

A Drawings
B Mark-up
C Mark-up percentage
D Selling price

1.1.4 A business that sells goods or stock…

A Trading business
B Retailers
C Service business
D Wholesalers

1.1.5 Customers who owe the business money because they have bought stock on
credit

A Debtors
B Creditors
C Owner
D Customer

(5x1=5)

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1.2 State whether the following statements are TRUE OR FALSE.
Write only True/False next to the question number. E.g. 1.2.6. True.

1.2.1 The money that the owner takes (withdraws) from the business for personal
use is Drawings.
1.2.2 Liabilities is the money received by a business.
1.2.3 Examples of Assets are Vehicles, Bank and Bank charges.
1.2.4 In the Accounting Equation Assets= Owners Equity + Liabilities.
1.2.5 Cheques can no longer be used to pay for goods and services.

(5x1=5)

1.3 Match the description in column B to the term in Column A. Choose the correct
answer and write only the letter (A-G) next to the question number (1.1.1-1.1.5)
on the ANSWER BOOK.

COLUMN A COLUMN B
1.3.1. Debtor A An act aimed at protecting consumers and
producers and creating a fair credit
marketplace in SA.
1.3.2. Debtors Journal B An agreement in which a buyer receives
something of value now and agrees to
repay the seller at a later date.
1.3.3. Credit Sales C An individual or business that owes debt to
another individual or business.
1.3.4. Duplicate receipt D A subsidiary journal in which merchandise
sold on credit is recorded from credit sales
invoices.
1.3.5. National Credit Act E Cash Payments Journal
F A source document that is issued when a
debtor paid money to your business.
G A body also responsible for educating
consumers about their rights.
(5x1=5)

QUESTION 2 ACCOUNTING EQUATION 14 marks

2.1. Show the effect of the given transactions on the ACCOUNTING EQUATION
(A=OE+L). An increase should be indicated with a + and a decrease with a
–

TRANSACTIONS: OCTOBER 2021

2.1.1 Goods sold for cash for R24 000 (cost price R16 000)
2.1.2 Received R5 000 from the tenant for the rent for October 2021
2.1.3 Bought merchandise from ABC Suppliers for R11 000 less 10% trade
discount
. Payment was made by EFT.
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QUESTION 3 CRJ, CPJ, DJ AND CJ 34 marks

Alicia Newton’s is the owner of JM traders. The business uses a mark-up percentage
of 25 % on cost
.
REQUIRED

3.1 Cash Receipts journal with analysis columns for

Analysis of receipts, Bank, Sales, Cost of Sales and Sundry accounts.

3.2 Cash Payments Journal with analysis columns for:

Bank, Trading stock, Wages, Stationery and Sundry accounts.

3.3 Creditors journal with analysis columns for

Creditors control, Trading stock, Equipment and sundry accounts

3.4 Debtors Journal

NOTE: DO NOT ADD THE JOURNALS

TRANSACTIONS FOR THE MONTH OF JULY 2021.

DAY DATAILS
1 Received additional Capital from the owner, Alicia Newton of R50 000, receipt
120
3 Paid Daily Moon for Advertising, R1 900 (EFT ref. 25)
8 Paid the weekly Wages, R 4500
Goods sold on credit to the following:
R Ranaka R 2 400 Inv 122
10 Trading stock bought on credit from TT Traders, R35 000, Invoice 66
Stationery bought on credit from CAN Stationers for R650, Invoice 67 issued
22 Cash sales of Merchandise, R 7600 (CS 26-33)
25 Salary paid to Bongiwe, R 10 000, electronically.
26 Paid weekly Wages, R 4 500
28 Paid by EFT AB wholesalers for Trading stock, R12 000 and Stationery, R500
bought
29 The bank statement received from Capita Bank shows the following : Bank
charges, R350, Interest on current account, R210
30 Issued an invoice to R Mohlala for goods sold, R1 600

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QUESTION 4 GENERAL LEDGER 7 marks

The following information was taken from the records of Manaka Traders for
November 2021

REQUIRED
4.1 Use the given information and complete the Bank Account in the General
Ledger of Manaka Traders for November 2021

INFORMATION
You are given the opening balances and totals of some of the Ledger accounts.
You also have the totals of some of the columns of the Cash Receipts Journal
and the Cash Payment Journal for Manaka Traders for November 20.1 as well as
some additional information.

A On 1 November 20.1 the business had R33 100 in the Bank account, Trading
stock of R14 000 on the shelf, and sold goods for R43 500.

B CRJ totals: Bank R27 500; Sales R15 000; cost of sales R7 500
C CPJ totals: Bank R20 300; Trading stock R14 400; Stationery R830.

BANK
20.1 1 Balance b/d (a) 20,1 30 Total (d) 20 300
Nov Nov payments
30 (b) CRJ (c) Balance c/d (f)
(e) (e)
(g) 1 Balance b/d (f)

TOTAL: 70

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