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on exam success!
• Fully CAPS compliant
• Opportunities for exam practice and assessment
• Complete Programme of Assessment provided
• Used and tested in schools throughout South Africa
• Supports and engages learners for success
CAPS
D. Kerdachi • A. Kriel • A. Viljoen
Grade 10
WorkbookAccounting
6 0 0 9 7 0 1 8 6 1 4 5 7
ISBN: 978-0636-12971-9
Acco
un
ting
Wo
rkbo
ok G
rade 10
Focus Account 10 WB cov-REV2.indd 1 2011/10/06 9:35 AM
Focus Accounting Grade 10 Workbookii
Maskew Miller Longman (Pty) Ltd.
Forest Drive, Pinelands, Cape Town
Offices in Cape Town, Johannesburg, Durban, King William’s Town, Polokwane, Bloemfontein, Mafikeng and Nelspruit and companies throughout southern and central
Africa.
website: www.mml.co.za
© Maskew Miller Longman (Pty) Ltd 2011
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the copyright holder.
First published in 2011
ISBN 978 0636 xxxxx x
Edited by Neall Fourie
Book design by MML Studio
Cover design by MML Studio
Typesetting by Neall Fourie
Printed by
00 FOA G10 WB - Prelims.indd 2 2011/09/14 12:56 PM
iiiFocus Accounting
About the Focus Accounting Workbook ������������������������������������������������������������������������������������������v
Chapter 1: Informal or indigenous bookkeeping ������������������������������������������������������������������������������������������������������������ 1
Chapter 2: Ethics �������������������������������������������������������������������������������������������������������������������������������������������������������������������� 4
Chapter 3: Accounting (GAAP) principles ������������������������������������������������������������������������������������������������������������������������� 6
Chapter 4: Internal control �������������������������������������������������������������������������������������������������������������������������������������������������� 7
Chapter 5: Accounting concepts �������������������������������������������������������������������������������������������������������������������������������������� 10
Chapter 6: Bookkeeping of a sole trader ����������������������������������������������������������������������������������������������������������������������� 12Programme of Assessment: Term 1 test answer book �����������������������������������������������������������������������������������������������������������������������������������������������������������������������88Programme of Assessment: Project answer book �������������������������������������������������������������������������������������������������������������������������������������������������������������������������������91
Chapter 7: Value-added tax (VAT) ����������������������������������������������������������������������������������������������������������������������������������104
Chapter 8: Salaries and wages ����������������������������������������������������������������������������������������������������������������������������������������106
Chapter 9: Year-end adjustments and final accounts �������������������������������������������������������������������������������������������������121Programme of Assessment: Mid-year examination answer book ���������������������������������������������������������������������������������������������������������������������������������������������� 157Chapter 10: How to prepare financial statements ������������������������������������������������������������������������������������������������������163Programme of Assessment: Case study answer book �������������������������������������������������������������������������������������������������������������������������������������������������������������������� 186
Chapter 11: Analysis and interpretation of financial statements and notes ���������������������������������������������������������189Programme of Assessment: Term 3 test answer book �������������������������������������������������������������������������������������������������������������������������������������������������������������������� 195
Chapter 12: Cost Accounting �������������������������������������������������������������������������������������������������������������������������������������������197
Chapter 13: Budgets ���������������������������������������������������������������������������������������������������������������������������������������������������������200Programme of Assessment: Final examination answer book ������������������������������������������������������������������������������������������������������������������������������������������������������ 202
Revision section �����������������������������������������������������������������������������������������������������������������������������������������������������������������208
Contents
00 FOA G10 WB - Prelims.indd 3 2011/09/14 12:56 PM
Focus Accounting Grade 10 Workbookiv
About the Focus Accounting Workbook
The Focus Accounting Learner’s Book is supported by a comprehensive 200-page Workbook that provides learners with templates for each of the activities in the Learner’s Book.
These templates are easy to use, as they are structured according to the requirements for each activity. All the templates in the Workbook are referenced to the particular page in the Learner’s Book where the activity can be found. This ensures that learners can easily access exactly what they need in order to complete the activities.
This sample Workbook is an extract of the comprehensive Workbook. The sample Workbook is aligned to Chapter 6 of the Learner’s Book, which focuses on the core bookkeeping principles of the curriculum.
The Focus Accounting Learner’s Book, Teacher’s Guide and the Workbook provide the complete classroom solution in addressing the needs of teachers and learners.
00 FOA G10 WB - Prelims.indd 4 2011/09/14 12:56 PM
1Chapter 1 Informal or indigenous bookkeeping systems
Chapter 1 Informal or indigenous bookkeeping systems
Activity 1�1 (Learner’s Book page 1)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
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Activity 1�2 (Learner’s Book page 1)
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Activity 1�4 (Learner’s Book page 5)
Number Cost price Profit mark−up Selling price
1. R700 100%
2. R840 50%
3. R620 75%
4. R500 25%
5. R400 20%
6. R1 200 33,33%
7. R900 80%
8. R480 66,67%
9. R800 45%
10. R680 90%
Activity 1�5 (Learner’s Book page 6)
Number Selling price Profit mark−up Cost price
1. R700 100%
2. R840 50%
3. R630 75%
4. R500 25%
5. R420 20%
6. R1 200 33,33%
7. R1 080 80%
8. R480 66,67%
9. R1 131 45%
10. R665 90%
Activity 1�6 (Learner’s Book page 8)
1. ...............................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 1 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook2
2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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4. ...............................................................................................................................................................................
5.
Mrs Govender’s system Formal bookkeeping system
Activity 1�7 (Learner’s Book page 9)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
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4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
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6.
Willie’s system Formal bookkeeping system
7. ...............................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 2 2011/09/10 8:44 AM
3Chapter 1 Informal or indigenous bookkeeping systems
8. Willie could improve control in the following ways:
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Exam practice (Learner’s Book page 10)
1. ...............................................................................................................................................................................
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2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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4. a) ..........................................................................................................................................................................
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b) ..........................................................................................................................................................................
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c) ..........................................................................................................................................................................
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d) ..........................................................................................................................................................................
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e) ..........................................................................................................................................................................
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f) ..........................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 3 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook4
Chapter 2 Ethics
Activity 2�1 (Learner’s Book page 9)
1. ...............................................................................................................................................................................
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2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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Activity 2�2 (Learner’s Book page 10)
1. ...............................................................................................................................................................................
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2. ...............................................................................................................................................................................
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Activity 2�4 (Learner’s Book page 13)
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 4 2011/09/10 8:44 AM
5Chapter 2 Ethics
Activity 2�7 (Learner’s Book page 15)
1. ...............................................................................................................................................................................
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2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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4. ...............................................................................................................................................................................
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5. ...............................................................................................................................................................................
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6. ...............................................................................................................................................................................
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Exam practice (Learner’s Book page 17)
Question 5
• .....................................................................................................................................................................................
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• .....................................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 5 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook6
Chapter 3 Accounting [GAAP] principles
Activity 3�1 (Learner’s Book page 21)
• .....................................................................................................................................................................................
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• .....................................................................................................................................................................................
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Activity 3�2 (Learner’s Book page 24)
1. ...............................................................................................................................................................................
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2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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4. ...............................................................................................................................................................................
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5. ...............................................................................................................................................................................
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6. ...............................................................................................................................................................................
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7. ...............................................................................................................................................................................
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Exam practice (Learner’s Book page 24)
1. A B C
D E F
2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 6 2011/09/10 8:44 AM
7Chapter 4 Internal control
Chapter 4 Internal control
Activity 4�1 (Learner’s Book page 25)
The four different types of control are:
• .....................................................................................................................................................................................
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• .....................................................................................................................................................................................
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• .....................................................................................................................................................................................
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• .....................................................................................................................................................................................
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Activity 4�2 (Learner’s Book page 28)
Problem Solution
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 7 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook8
Activity 4�3 (Learner’s Book page 29)
Problem Solution
Exam practice (Learner’s Book page 29)
1. ...............................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 8 2011/09/10 8:44 AM
9Chapter 4 Internal control
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2.
• .........................................................................................................................................................................
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3. ...............................................................................................................................................................................
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Three areas where this can be applied are:
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• .........................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 9 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook10
Chapter 5 Accounting concepts
Activity 5�1 (Learner’s Book page 27)
1. A B C
D E F
G H I
J K L
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 5�2 (Learner’s Book page 28)
1. A B C
D E F
G H I
J K L
M N O
2. ...............................................................................................................................................................................
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Activity 5�3 (Learner’s Book page 30)
A B C
D E
Exam practice (Learner’s Book page 36)
1. a) .........................................................................................................................................................................
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b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
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d) ..........................................................................................................................................................................
e) ..........................................................................................................................................................................
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f) ..........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 10 2011/09/10 8:44 AM
11Chapter 5 Accounting concepts
2. a) .........................................................................................................................................................................
b) ..........................................................................................................................................................................
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c)
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3. ...............................................................................................................................................................................
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4.
Account Income Expense Asset Owner’s Equity Liability
Equipment
Wages
Sales
Trading stock
Cell phone charges
Capital
Bank
Creditors
Drawings
5. A B C
D E
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 11 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook12
Chapter 6 Bookkeeping of a sole trader
Activity 6�1 (Learner’s Book page 41)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
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Activity 6�2 (Learner’s Book page 41)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
7. ...............................................................................................................................................................................
8. ...............................................................................................................................................................................
Activity 6�3 (Learner’s Book page 43)
1.
2.
3.
4.
5.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 12 2011/09/10 8:44 AM
13Chapter 6 Bookkeeping of a sole trader
6.
7.
8.
9.
10.
Activity 6�4 (Learner’s Book page 50)
General Ledger of Soccer Scene Balance Sheet Section
TRADING STOCK B4
TRIAL BALANCE OF SOCCER SCENE AS AT 31 MARCH 20�4Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 13 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook14
Act
ivit
y 6�
5 (L
earn
er’s
Boo
k p
age
50)
CASH
REC
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S JO
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nts
Am
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Fol�
Det
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 14 2011/09/10 8:44 AM
15Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
6 (L
earn
er’s
Boo
k p
age
51)
CASH
REC
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S JO
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Cas
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4000
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Cas
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15 6
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 15 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook16
General Ledger of Topolino Toys Balance Sheet Section
CAPITAL B1
DRAWINGS B2
FURNITURE B3
TRADING STOCK B4
BANK B5
CASH FLOAT B6
Nominal Accounts Section SALES N1
COST OF SALES N2
RENT INCOME N3
WAGES N4
STATIONERY N5
SUNDRY EXPENSES N6
SALARIES N7
BANK CHARGES N8
INTEREST INCOME N9
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 16 2011/09/10 8:44 AM
17Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
7 (L
earn
er’s
Boo
k p
age
52)
CASH
REC
EIPT
S JO
URN
AL
OF
STRE
AKS
AH
EAD
FO
R JU
NE
20�9
CRJ1
Doc
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sis
of
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Bank
Curr
ent
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st o
f sa
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Rent
in
com
eSu
ndry
acc
ount
s
Am
ount
Fol�
Det
ails
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 17 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook18
CASH
PAY
MEN
TS JO
URN
AL
OF
STRE
AKS
AH
EAD
FO
R JU
NE
20�9
CPJ1
Doc
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ayN
ame
of p
ayee
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ing
stoc
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ent
Com
mis
sion
Dra
win
gsSu
ndry
acc
ount
s
Am
ount
Fol�
Det
ails
Gen
eral
Led
ger o
f Str
eaks
Ahe
ad
Bala
nce
Shee
t Sec
tion
CA
PITA
L B1
D
RAW
ING
S B2
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 18 2011/09/10 8:44 AM
19Chapter 6 Bookkeeping of a sole trader
LOAN: NATEAST BANK B3
EQUIPMENT B4
VEHICLES B5
FIXED DEPOSIT: FINBANK B6
TRADING STOCK B7
BANK B8
CASH FLOAT B9
Nominal Accounts Section CURRENT INCOME N1
SALES N2
COST OF SALES N3
RENT INCOME N4
CONSUMABLES N6
COMMISSION N7
STATIONERY N8
INSURANCE N9
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 19 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook20
ADVERTISING N10
SUNDRY EXPENSES N11
INTEREST ON LOAN N12
TRIAL BALANCE OF STREAKS AHEAD AS AT 30 JUNE 20�9
Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
Activity 6�8 (Learner’s Book page 55)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5.
Balance at beginning Repayment Balance at the end
6. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
7. ...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 20 2011/09/10 8:44 AM
21Chapter 6 Bookkeeping of a sole trader
8.
Account debit Account credit Amount Assets Owners’ Equity Liability
Activity 6�9 (Learner’s Book page 56)
1. ...............................................................................................................................................................................
2.
Account debit Account credit Amount Assets Owners’ Equity Liability
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
7. ...............................................................................................................................................................................
Activity 6�10 (Learner’s Book page 58)
1.
CASH RECEIPTS JOURNAL OF JOBURG JEWELLERS FOR AUGUST 20�9 CRJ1
Doc� Day Details Fol� Analysis of receipts Bank Debtors
ControlSundry accounts
Amount Fol� Details
CASH PAYMENTS JOURNAL OF JOBURG JEWELLERS FOR AUGUST 20�9 CPJ1
Doc� Day Name of payee Fol� Bank Wages Debtors
ControlSundry accounts
Amount Fol� Details
2. General Ledger of Joburg Jewellers
Balance Sheet SectionDEBTORS CONTROL B5
3. ...............................................................................................................................................................................
4.
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 21 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook22
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Act
ivit
y 6�
11
(Lea
rner
’s B
ook
pag
e 60
)
CASH
REC
EIPT
S JO
URN
AL
OF
JABU
LAN
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OE
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PTEM
BER
20�5
CRJ1
Doc
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naly
sis
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st o
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tors
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trol
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ry a
ccou
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ipts
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coun
t al
low
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Gen
eral
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ger o
f Jan
ulan
i Sho
e Sh
op
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nce
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t Sec
tion
D
EBTO
RS C
ON
TRO
L B5
Nom
inal
Acc
ount
s Se
ctio
n
DIS
COU
NT
ALL
OW
ED
N1
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 22 2011/09/10 8:44 AM
23Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
12
(Lea
rner
’s B
ook
pag
e 62
)
CASH
PAY
MEN
TS JO
URN
AL
OF
OW
EN S
TORE
S FO
R M
AY 2
0�8
CPJ1
Doc
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ayN
ame
of p
ayee
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trol
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esSu
ndry
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ount
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ents
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ntFo
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etai
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eral
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f Ow
en S
tore
s Ba
lanc
e Sh
eet S
ectio
n
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ITO
RS C
ON
TRO
L B1
0
Nom
inal
Acc
ount
s Se
ctio
n
DIS
COU
NT
RECE
IVED
N
12
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 23 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook24
Activity 6�13 (Learner’s Book page 64)
1.
• A debit card ..................................................................................................................................................
.........................................................................................................................................................................
.........................................................................................................................................................................
• A credit card .................................................................................................................................................
.........................................................................................................................................................................
.........................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
4. ...............................................................................................................................................................................
Activity 6�14 (Learner’s Book page 65)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
...............................................................................................................................................................................
6. ...............................................................................................................................................................................
7. ...............................................................................................................................................................................
8. ...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 24 2011/09/10 8:44 AM
25Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
15
(Lea
rner
’s B
ook
pag
e 66
)
1.
CASH
REC
EIPT
S JO
URN
AL
OF
KRA
MM
STO
RES
FOR
JULY
20�
6CR
J7
Doc
�D
ayD
etai
lsFo
l�A
naly
sis
of
rece
ipts
Bank
Deb
tors
Con
trol
Sale
sCo
st o
f sa
les
Sund
ry a
ccou
nts
Rece
ipts
Dis
coun
t al
low
edA
mou
ntFo
l�D
etai
ls
R01
1M
. Kra
mm
80 0
0000
Cap
ital
B/S
Bet
ter
Ban
k30
000
00Lo
an: B
ette
r B
ank
CR
T1
4Sa
les
2 44
000
Ms
Flip
ston
e75
000
Ren
t in
com
e
8Sa
les
2 61
000
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r B
ryn
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0025
00
20M
. Kra
mm
20 0
0000
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ital
21L.
Kh
oza
440
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00
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4 14
000
4 14
000
4 14
000
27A
BSA
Ban
k10
000
00Lo
an: A
BSA
Ban
k
28Fi
rst
Ban
k66
000
Inte
rest
on
in
vest
men
t
31M
s Fl
ipst
one
850
00R
ent
inco
me
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 25 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook26
CASH
PAY
MEN
TS JO
URN
AL
OF
KRA
MM
STO
RES
FOR
JULY
20�
6CP
J7
Doc
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ayD
etai
lsFo
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nkTr
adin
g st
ock
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itors
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trol
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ione
ryW
ages
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ry a
ccou
nts
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Dis
coun
t re
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C01
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lier
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tty
cash
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2X
um
a O
ffice
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pp
lier
s1
680
0020
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C04
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h S
tati
oner
s76
000
500
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onsu
mab
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C08
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ash
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win
gs
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ash
9 00
000
C12
8B
ette
r B
ank
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d d
epos
it
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 26 2011/09/10 8:44 AM
27Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
16
(Lea
rner
’s B
ook
pag
e 67
)
CASH
REC
EIPT
S JO
URN
AL
OF
KH D
EALE
RS F
OR
JAN
UA
RY 2
0�8
CRJ1
Doc
�D
ayD
etai
lsFo
l�A
naly
sis
of
Rece
ipts
Bank
Sale
sCo
st o
f sa
les
Deb
tors
Con
trol
Sund
ry a
ccou
nts
Rece
ipts
Dis
coun
t al
low
edA
mou
ntFo
l�D
etai
ls
CASH
PAY
MEN
TS JO
URN
AL
OF
KH D
EALE
RS F
OR
JAN
UA
RY 2
0�8
CPJ1
Doc
�D
ayN
ame
of p
ayee
Fol�
Bank
Trad
ing
stoc
kW
ages
Cred
itors
Con
trol
Sund
ry a
ccou
nts
Paym
ents
Dis
coun
t re
ceiv
edA
mou
ntFo
l�D
etai
ls
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 27 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook28
General Ledger of KH Dealers Balance Sheet Section
CREDITORS CONTROL B3
DEBTORS CONTROL B6
TRADING STOCK B7
Nominal Accounts Section DISCOUNT ALLOWED N3
DISCOUNT RECEIVED N4
Activity 6�17 (Learner’s Book page 68)
1.
Number Subsidiary journal
General Ledger Effect on the Accounting Equation
Account debit Account credit A OE L
a)
b)
c)
d)
e)
f)
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 28 2011/09/10 8:44 AM
29Chapter 6 Bookkeeping of a sole trader
2. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
d) ..........................................................................................................................................................................
e) ..........................................................................................................................................................................
3. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
d) ..........................................................................................................................................................................
4. Transaction 1
a) ......................................................................................................................................................................... r
b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
d) ..........................................................................................................................................................................
Transaction 2
a) ..........................................................................................................................................................................
b)
Subsidiary journal
General Ledger Effect on the Accounting Equation
Account debit Account credit A OE L
c) ..........................................................................................................................................................................
d.
Balance on 1 March Repayment 28 February Balance on 28 February
e) ..........................................................................................................................................................................
f) ..........................................................................................................................................................................
Transaction 3
a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
..........................................................................................................................................................................
c) ..........................................................................................................................................................................
d) ..........................................................................................................................................................................
e)
Account debit Account credit Amount
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 29 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook30
Activity 6�18 (Learner’s Book page 71)
PETTY CASH JOURNAL OF SNACK SHOP FOR MARCH 20�11 PCJ1
Doc� Day Details Fol� Petty cash Postage StationerySundry accounts
Amount Fol� Details
Activity 6�19 (Learner’s Book page 73)
1. ................................................................................................................................................................................
................................................................................................................................................................................
2. ................................................................................................................................................................................
................................................................................................................................................................................
3. ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
4. ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 30 2011/09/10 8:44 AM
31Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
20
(Lea
rner
’s B
ook
pag
e 73
)
CASH
REC
EIPT
S JO
URN
AL
OF
OCE
AN
DEL
IGH
TS F
OR
FEBR
UA
RY 2
0�6
CRJ1
Doc
�D
ayD
etai
lsFo
l�A
naly
sis
of
rece
ipts
Bank
Sale
sCo
st o
f sa
les
Sund
ry a
ccou
nts
Am
ount
Fol�
Det
ails
CASH
PAY
MEN
TS JO
URN
AL
OF
OCE
AN
DEL
IGH
TS F
OR
FEBR
UA
RY 2
0�6
CPJ1
Doc
�D
ayN
ame
of p
ayee
Fol�
Bank
Sala
ries
an
d w
ages
Trad
ing
stoc
kEq
uipm
ent
Sund
ry a
ccou
nts
Am
ount
Fol�
Det
ails
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 31 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook32
PETT
Y CA
SH JO
URN
AL
OF
OCE
AN
DEL
IGH
TS F
OR
FEBR
UA
RY 2
0�6
PCJ1
Doc
�D
ayD
etai
lsFo
l�Pe
tty
cash
Post
age
Wag
esPr
intin
g an
d st
atio
nery
Sund
ry a
ccou
nts
Am
ount
Fol�
Det
ails
Gen
eral
Led
ger o
f Oce
an D
elig
hts
Bala
nce
Shee
t Sec
tion
CA
PITA
L B1
D
RAW
ING
S B2
EQ
UIP
MEN
T B3
FI
XED
DEP
OSI
T: B
OO
DLE
BA
NK
B4
PE
TTY
CASH
B5
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 32 2011/09/10 8:44 AM
33Chapter 6 Bookkeeping of a sole trader
TRADING STOCK B6
BANK B7
Nominal Accounts Section SALES N1
COST OF SALES N2
INTEREST ON INVESTMENT N3
RENT EXPENSE N4
SALARIES AND WAGES N5
PACKING MATERIAL N6
PRINTING AND STATIONERY N8
POSTAGE N9
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 33 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook34
Act
ivit
y 6�
21
(Lea
rner
’s B
ook
pag
e 74
)
CASH
REC
EIPT
S JO
URN
AL
OF
DIC
KSO
N H
ARD
WA
RE F
OR
MAY
20�
9CR
J1
Doc
�D
ayD
etai
lsFo
l�A
naly
sis
of
rece
ipts
Bank
Sale
sCo
st o
f sa
les
Curr
ent
inco
me
Sund
ry a
ccou
nts
Am
ount
Fol�
Det
ails
CASH
PAY
MEN
TS JO
URN
AL
OF
DIC
KSO
N H
ARD
WA
RE F
OR
MAY
20�
9CP
J1
Doc
�D
ayN
ame
of p
ayee
Fol�
Bank
Trad
ing
stoc
kCo
nsum
able
sW
ages
Sund
ry a
ccou
nts
Am
ount
Fol�
Det
ails
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 34 2011/09/10 8:44 AM
35Chapter 6 Bookkeeping of a sole trader
PETT
Y CA
SH JO
URN
AL
OF
DIC
KSO
N H
ARD
WA
RE F
OR
MAY
20�
9PC
J1
Doc
�D
ayD
etai
lsFo
l�Pe
tty
cash
Trad
ing
stoc
kCo
nsum
able
sPo
stag
eSt
atio
nery
Dra
win
gsSu
ndry
acc
ount
s
Am
ount
Fol�
Det
ails
Gen
eral
Led
ger o
f Dic
kson
Har
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 35 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook36
Nominal Accounts Section SALES N1
COST OF SALES N2
INTEREST ON SAVINGS N3
COMMISSION INCOME N4
CURRENT INCOME N5
WATER AND ELECTRICITY N6
TELEPHONE N7
CONSUMABLES N8
WAGES N9
DONATION N10
REPAIRS N11
POSTAGE N12
STATIONERY N13
Activity 6�22 (Learner’s Book page 75)
Number JournalGeneral Ledger Effect on the Accounting Equation
Account debit Account credit A = OE + L
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 36 2011/09/10 8:44 AM
37Chapter 6 Bookkeeping of a sole trader
Activity 6�23 (Learner’s Book page 76)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
...............................................................................................................................................................................
7.
Advantages Disadvantages
• •
• •
• •
8.
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
Activity 6�24 (Learner’s Book page 80)
DEBTORS JOURNAL OF PHEZULU COMPUTERS FOR APRIL 20�6 DJ1
Doc� Day Debtor Fol� Sales Cost of sales
General Ledger of Phezulu Computers Balance Sheet Section
DEBTORS CONTROL B1
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 37 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook38
TRADING STOCK B2
Nominal Accounts Section SALES N1
COST OF SALES N2
Activity 6�25 (Learner’s Book page 80)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
4. ...............................................................................................................................................................................
Activity 6�26 (Learner’s Book page 82)
DEBTORS JOURNAL OF M&M RETAILERS FOR AUGUST 20�5 DJ1
Doc� Day Debtor Fol� Sales Cost of sales
Debtors Ledger of M&M Retailers K� BROOKS DL1
Date Details/Document Fol� Debit Credit Balance
S� SCOTT DL2Date Details/Document Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 38 2011/09/10 8:44 AM
39Chapter 6 Bookkeeping of a sole trader
V� LUYT DL3Date Details/Document Fol� Debit Credit Balance
Debtors List as at 31 August 20�5
General Ledger of M&M Retailers Balance Sheet Section
DEBTORS CONTROL B1
TRADING STOCK B2
Nominal Accounts Section SALES N1
COST OF SALES N2
Activity 6�27 (Learner’s Book page 82)
DEBTORS JOURNAL OF FRIENDLY FURNISHERS FOR JANUARY 20�3 DJ1
Doc� Day Debtor Fol� Sales Cost of sales
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 39 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook40
CASH
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 40 2011/09/10 8:44 AM
41Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
28
(Lea
rner
’s B
ook
pag
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)
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 41 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook42
DEBTORS JOURNAL OF ABC STATIONERS FOR FEBUARY 20�6 DJ1
Doc� Day Debtor Fol� SalesCost of
sales
Debtors Ledger of ABC Stationers D� WRITE DL1
Date Details/Document Fol� Debit Credit Balance
G� SMIT DL2Date Details/Document Fol� Debit Credit Balance
HOME SUPPLIES DL3Date Details/Document Fol� Debit Credit Balance
STATIONERY SHOP DL4Date Details/Document Fol� Debit Credit Balance
INK LTD DL5Date Details/Document Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 42 2011/09/10 8:44 AM
43Chapter 6 Bookkeeping of a sole trader
Debtors List as at 28 February 20�6
General Ledger of ABC Stationers Balance Sheet Section
DEBTORS CONTROL B1
TRADING STOCK B2
Nominal Accounts Section SALES N1
COST OF SALES N2
DISCOUNT ALLOWED N3
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 43 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook44
Activity 6�29 (Learner’s Book page 88)
DEBTORS ALLOWANCES JOURNAL OF PHILANI’S HARDWARE FOR MARCH 20�1 DAJ1
C/N Day Debtor Fol�Debtors
allowances Cost of
sales
General Ledger of Philani’s Hardware Balance Sheet Section
DEBTORS CONTROL B1
TRADING STOCK B2
Nominal Accounts Section COST OF SALES N2
DEBTORS ALLOWANCES N3
Activity 6�30 (Learner’s Book page 88)
DEBTORS JOURNAL OF SLIM JIM SPORTSWARE FOR DECEMBER 20�5 DJ5
Doc� Day Debtor Fol� Sales Cost of sales
89 2 V. Moosa 600 00
90 6 B. Mokhine 760 00
91 F. Player 400 00
92 9 D. Bell 316 00
93 12 C. Johnson 608 00
94 21 T. Ndango 280 00 210 00
95 22 V. Moosa 111 00
96 24 D. Bell 666 00
97 26 F. Player 222 00
98 30 B. Mokhine 572 00 429 00
DEBTORS ALLOWANCES JOURNAL OF SLIM JIM SPORTSWARE FOR DECEMBER 20�5 DAJ5
C/N Day Debtor Fol� Debtors allowances
Cost of sales
65 6 V. Moosa 27 00
66 15 B. Mokhine 20 00
67 22 C. Johnson 36 00
68 25 T. Ndango 45 00
69 30 D. Bell 60 00
108 00
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 44 2011/09/10 8:44 AM
45Chapter 6 Bookkeeping of a sole trader
Debtors Ledger of Slim Jim Sportsware V� MOOSA DL2
Date Details/Document Fol� Debit Credit Balance
B� MOKHINE DL5Date Details/Document Fol� Debit Credit Balance
Debtors List as at 31 December 20�5
General Ledger of Slim Jim Sportsware Balance Sheet Section
DEBTORS CONTROL B1
Answers
1. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
5.
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 45 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook46
Act
ivit
y 6�
31
(Lea
rner
’s B
ook
pag
e 89
)
CASH
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 46 2011/09/10 8:44 AM
47Chapter 6 Bookkeeping of a sole trader
DEBTORS JOURNAL OF DQ RETAILERS FOR NOVEMBER 20�9 DJ4
Doc� Day Debtor Fol� SalesCost of
sales
15 Totals b/d
DEBTORS ALLOWANCES JOURNAL OF DQ RETAILERS FOR NOVEMBER 20�9 DAJ4
C/N Day Debtor Fol�Debtors
allowancesCost of
sales
Debtors Ledger of DQ Retailers H� WAIN DL1
Date Details/Document Fol� Debit Credit Balance
J� MEIKLE DL2Date Details/Document Fol� Debit Credit Balance
T� HOLDT DL3Date Details/Document Fol� Debit Credit Balance
Debtors List as at 30 November 20�9
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 47 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook48
General Ledger of DQ Retailers Balance Sheet Section
DEBTORS CONTROL B1
TRADING STOCK B2
Nominal Accounts Section SALES N1
COST OF SALES N2
DEBTORS ALLOWANCES N3
DISCOUNT ALLOWED N4
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 48 2011/09/10 8:44 AM
49Chapter 6 Bookkeeping of a sole trader
Activity 6�32 (Learner’s Book page 91)
General Ledger of Wonderland Toy Factory Shop Balance Sheet Section
DEBTORS CONTROL B5
Dec. 1 Balance b/d Nov. 30 Bank
31 Sales CRJ
DAJ
Jan. 1 Balance b/d
TRADING STOCK B7
Dec. 1 Balance b/d Dec. 31 Cost of sales
31 Cost of sales Cost of sales
Bank Balance c/d
Jan. 1 Balance b/d 8 143 00
Debtors Ledger of Wonderland Toy Factory Shop BABY GEAR DL8
Date Details/Document Fol� Debit Credit Balance
Dec. 1 Balance b/d 1 789 00
5 Invoice 22 2 279 00
12 Credit note 5 2 220 00
14 Receipt 44 720 00
18 Invoice 29 995 00
31 CRJ 0 00
Activity 6�33 (Learner’s Book page 92)
General Ledger of Savings Retailers Balance Sheet Section
DEBTORS CONTROL B6
TRADING STOCK B7
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 49 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook50
Nominal Accounts Section COST OF SALES N2
DEBTORS ALLOWANCES N3
DISCOUNT RECEIVED N4
Activity 6�34 (Learner’s Book page 93)
Debtors Ledger of Benoni Traders JESSE SMITH DL1
Date Details/Document Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 50 2011/09/10 8:44 AM
51Chapter 6 Bookkeeping of a sole trader
Act
ivit
y 6�
35
(Lea
rner
’s B
ook
pag
e 93
)
CASH
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 51 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook52
DEBTORS JOURNAL OF SALMON TRADERS FOR APRIL 20�8 DJ1
Doc� Day Debtor Fol� SalesCost of
sales
DEBTORS ALLOWANCES JOURNAL OF SALMON TRADERS FOR APRIL 20�8 DAJ2
Doc� Day Debtor Fol�Debtors
allowancesCost of
sales
General Ledger of Salmon Traders Balance Sheet Section
CAPITAL B1
DRAWINGS B2
LOAN: CITI BANK B3
EQUIPMENT B4
TRADING STOCK B5
DEBTORS CONTROL B6
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 52 2011/09/10 8:44 AM
53Chapter 6 Bookkeeping of a sole trader
BANK B7
Nominal Accounts Section SALES N1
COST OF SALES N2
DISCOUNT ALLOWED N3
RENT EXPENSE N4
PACKING MATERIAL N5
INTEREST ON LOAN N6
STATIONERY N7
DEBTORS ALLOWANCES N8
Debtors Ledger of Salmon Traders P� JORDAAN DL1
Date Details/Document Fol� Debit Credit Balance
P� BAKER DL2Date Details/Document Fol� Debit Credit Balance
G� JOUBERT DL3Date Details/Document Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 53 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook54
Debtors List as at 30 April 20�8
TRIAL BALANCE OF SALMON TRADERS AS AT 30 APRIL 20�8Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
Activity 6�36 (Learner’s Book page 94)
1. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
...............................................................................................................................................................................
7. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
8. ...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 54 2011/09/10 8:44 AM
55Chapter 6 Bookkeeping of a sole trader
Activity 6�37 (Learner’s Book page 95)
No� JournalGeneral Journal Subsidiary ledger
A = OE + LDebit Credit Debit Credit
1.
2.
3.
4.
5.
6.
7.
Activity 6�38 (Learner’s Book page 97)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 55 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook56
Act
ivit
y 6�
39
(Lea
rner
’s B
ook
pag
e 98
)
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 56 2011/09/10 8:44 AM
57Chapter 6 Bookkeeping of a sole trader
LEATHER LINKS CL2Date Details/Document Fol� Debit Credit Balance
WARMTH LTD CL3Date Details/Document Fol� Debit Credit Balance
WESTVILLE OFFICE SUPPLIES CL4Date Details/Document Fol� Debit Credit Balance
SUNDAY PAPER CL5Date Details/Document Fol� Debit Credit Balance
Creditors List as at 31 July 20�3
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 57 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook58
Act
ivit
y 6�
40
(Lea
rner
’s B
ook
pag
e 10
1)
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 58 2011/09/10 8:44 AM
59Chapter 6 Bookkeeping of a sole trader
SERVICE MATERIALS N2
CONSUMABLE STORES N3
Creditors Ledger of Teletec Services UMGENI ELECTRICAL SUPPLIES CL1
Date Details Fol� Debit Credit Balance
SA ELECTRICS CL2Date Details Fol� Debit Credit Balance
SUPER STORES CL3Date Details Fol� Debit Credit Balance
OFFICE STOP CL4Date Details Fol� Debit Credit Balance
Creditors List as at 31 October 20�6
Activity 6�41 (Learner’s Book page 102)
Balances and totals extracted from July’s General LedgerCreditors Control: ..........................................................................................................................................................................................
Creditors List as at 31 July 20�4 General Motors: ..........................................................................................................................................................................................
Handy Dealers: ..........................................................................................................................................................................................
Plumbing for Africa: ..........................................................................................................................................................................................
General Motors
Handy Dealers
Plumbing for Africa
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 59 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook60
Act
ivit
y 6�
42
(Lea
rner
’s B
ook
pag
e 10
3)
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 60 2011/09/10 8:44 AM
61Chapter 6 Bookkeeping of a sole trader
CREDITORS ALLOWANCES JOURNAL OF ZZZ SHOPS FOR JANUARY 2011 CAJ1
D/N Day Creditor Fol�Creditors Control
StationeryTrading
stockSundry accounts
Amount Fol� Details
General Ledger of ZZZ Shop Balance Sheet Section
CREDITORS CONTROL B5
TRADING STOCK B8
Nominal Accounts Section DISCOUNT RECEIVED N4
Creditors Ledger of ZZZ Shop DENNISON DEALERS CL1
Date Details Fol� Debit Credit Balance
BENNY BAKERS CL2Date Details Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 61 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook62
BROWN’S WHOLESALERS CL3Date Details Fol� Debit Credit Balance
UNBELIEVABLE STORES CL4Date Details Fol� Debit Credit Balance
Creditors List as at 31 January 20�11
Activity 6�43 (Learner’s Book page 104)
No� JournalGeneral Ledger Subsidiary ledger
A = OE + LAccount debit Account credit Account debit Account credit
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 62 2011/09/10 8:44 AM
63Chapter 6 Bookkeeping of a sole trader
Activity 6�44 (Learner’s Book page 105)
General Ledger of Reggie Retailers Balance Sheet Section
CREDITORS CONTROL B3
DEBTORS CONTROL B6
TRADING STOCK B7
Nominal Accounts Section COST OF SALES N2
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 63 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook64
Act
ivit
y 6�
45
(Lea
rner
’s B
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pag
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6)
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 64 2011/09/10 8:44 AM
65Chapter 6 Bookkeeping of a sole trader
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 65 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook66
Activity 6�46 (Learner’s Book page 107)
General Ledger of Reynolds Retailers Balance Sheet Section
CREDITORS CONTROL B3
DEBTORS CONTROL B6
TRADING STOCK B7
Activity 6�47 (Learner’s Book page 108)
No� JournalGeneral Ledger Subsidiary Ledger
A = OE + LAccount debit Account credit Account debit Account credit
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 66 2011/09/10 8:44 AM
67Chapter 6 Bookkeeping of a sole trader
12.
13.
14.
15.
16.
Act
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 67 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook68
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 68 2011/09/10 8:44 AM
69Chapter 6 Bookkeeping of a sole trader
CREDITORS JOURNAL OF HITEQ CLOTHING STORE FOR DECEMBER 20�8 CJ1
Doc� Day Creditor Fol�Creditors Control
Trading stock
ConsumablesSundry accounts
Amount Fol� Details
CREDITORS ALLOWANCES JOURNAL OF HITEQ CLOTHING STORE FOR DECEMBER 20�8 CAJ1
D/N Day Creditor Fol�Creditors Control
Trading stock
ConsumablesSundry accounts
Amount Fol� Details
Debtors Ledger of Hiteq Clothing Store E� XULU DL1
Date Details/Document Fol� Debit Credit Balance
M� CRUISER DL2Date Details/Document Fol� Debit Credit Balance
Creditors Ledger of Hiteq Clothing Store APT MANUFACTURERS CL1
Date Details/Document Fol� Debit Credit Balance
UPSTART CLOTHING FACTORY CL2Date Details/Document Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 69 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook70
Creditors List as at 31 December 20�8 Debtors List as at 31 December 20�8
General Ledger of Hiteq Clothing Store Balance Sheet Section
CAPITAL B1
DRAWINGS B2
TRADING STOCK B3
VEHICLES B4
EQUIPMENT B5
BANK B6
DEBTORS CONTROL B7
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 70 2011/09/10 8:44 AM
71Chapter 6 Bookkeeping of a sole trader
CREDITORS CONTROL B8
LOAN: ACT FINANCIAL SERVICES B9
Nominal Accounts Section SALES N1
COST OF SALES N2
DISCOUNT ALLOWED N3
DISCOUNT RECEIVED N4
RENT EXPENSE N5
WAGES N6
CONSUMABLES N7
DEBTORS ALLOWANCES N8
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 71 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook72
TRIAL BALANCE OF HITEQ CLOTHING STORES AS AT 31 DECEMBER 20�8Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
Activity 6�50 (Learner’s Book page 110)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
Activity 6�51 (Learner’s Book page 111)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 72 2011/09/10 8:44 AM
73Chapter 6 Bookkeeping of a sole trader
6. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
7. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
8. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 6�52 (Learner’s Book page 114)
GENERAL JOURNAL OF MERWE MUSIC SHOP FOR SEPTEMBER 20�1 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
General Ledger of Merwe Music Shop Balance Sheet Section
TRADING STOCK B1
DRAWINGS B2
Activity 6�53 (Learner’s Book page 116)
GENERAL JOURNAL OF BEAUTY-4-U FOR JANUARY 20�1 GJ1
Doc� Day Details Fol Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
CASH RECEIPTS JOURNAL OF BEAUTY-4-U FOR JULY 20�1 CRJ1
Doc� Day Details Fol�Analysis of
receiptsBank Sales
Cost of sales
Debtors Control
Sundry accounts
Amount Fol� Details
Debtors Ledger of Beauty-4-U MS KLEINHANS DL1
Date Details/Document Fol� Debit Credit Balance
General Ledger of Beauty-4-U Balance Sheet Section
DEBTORS CONTROL B3
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 73 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook74
Nominal Accounts Section BAD DEBTS N3
BAD DEBTS RECOVERED N4
Activity 6�54 (Learner’s Book page 117)
CASH PAYMENTS JOURNAL OF SASSY SHOES FOR DECEMBER 20�6 CPJ1
Doc� Day Name of payee Fol� BankDebtors Control
Creditors Control Sundry accounts
PaymentsDiscount received
Amount Fol� Details
GENERAL JOURNAL OF SASSY SHOES FOR DECEMBER 20�6 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control
Debit Credit
General Ledger of Sassy Shoes Balance Sheet Section
DEBTORS CONTROL B6
Nominal Accounts Section DISCOUNT ALLOWED N8
Debtors Ledger of Sassy Shoes F� LOTTO DL5
Date Details Fol� Debit Credit Balance
Activity 6�55 (Learner’s Book page 119)
GENERAL JOURNAL OF PC COMPUTERS FOR JULY 20�2 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 74 2011/09/10 8:44 AM
75Chapter 6 Bookkeeping of a sole trader
General Ledger of PC Computers Balance Sheet Section
DEBTORS CONTROL B3
Nominal Accounts Section INTEREST ON OVERDUE ACCOUNT N3
Debtors Ledger of PC Computers P� PATEL DL1
Date Details/Document Fol� Debit Credit Balance
Activity 6�56 (Learner’s Book page 121)
GENERAL JOURNAL OF SHINY SHOES FOR SEPTEMBER 20�1 GJ1
Doc� Day Details Fol Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 75 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook76
Activity 6�57 (Learner’s Book page 122)
GENERAL JOURNAL OF CURLY HAIRDRESSERS FOR JUNE 20�3 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
Activity 6�58 (Learner’s Book page 123)
GENERAL JOURNAL OF MOLOPO STORES FOR NOVEMBER 20�8 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 76 2011/09/10 8:44 AM
77Chapter 6 Bookkeeping of a sole trader
General Ledger of Molopo Stores Balance Sheet Section
DEBTORS CONTROL B3
CREDITORS CONTROL B4
Nominal Accounts Section MOTOR EXPENSES N1
STATIONERY N2
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 77 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook78
Debtors Ledger of Molopo Stores W� TWALA DL1
Date Details/Document Fol� Debit Credit Balance
R� NAIDOO DL2Date Details/Document Fol� Debit Credit Balance
M� DELAID DL3Date Details/Document Fol� Debit Credit Balance
Creditors Ledger of Molopo Stores CHIRP WHOLESALERS CL1
Date Details/Document Fol� Debit Credit Balance
WARP WHOLESALERS CL2Date Details/Document Fol� Debit Credit Balance
Debtors List as at 30 November 20�8 Creditors List as at 30 November 20�8
Activity 6�59 (Learner’s Book page 124)
No� JournalGeneral Ledger Subsidiary ledger
A = OE + LDebit Credit Debit Credit
1.
2.
3.
4.
5.
6.
7.
8.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 78 2011/09/10 8:44 AM
79Chapter 6 Bookkeeping of a sole trader
9.
10.
11.
12.
13.
14.
Activity 6�60 (Learner’s Book page 124)
1.
General Ledger of NC Traders Balance Sheet Section
TRADING STOCK B20.3 June 1 Balance b/d
20.3 June 30 Creditors Control 450 00
30 Bank 8 770 00 CRJ 9 100 00
Creditors Control 6 420 00 Cost of sales 8 400 00
Cost of sales 1 120 00 Donations 50 00
Petty cash 80 00 Balance c/d 14 590 00
July 1 Balance b/d
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
Activity 6�61 (Learner’s Book page 125)
1. and 2.General Ledger of JC Stores
Balance Sheet SectionDEBTORS CONTROL B
20.3 Aug. 1 Balance b/d
20.3 Aug. 31 Bank CRJ 11 250 00
31 Sales 15 000 00 CRJ 65 00
GJ 500 00 DAJ 455 00
Bank CPJ 700 00 Sundry accounts 88 00
Balance c/d
Sep. 1 Balance b/d 21 540 00
3. ...............................................................................................................................................................................
4. a) General Journal – .............................................................................................................................................
b) Sundry accounts – ...........................................................................................................................................
c) Debtors Journal – .............................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
7. ...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 79 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook80
Activity 6�62 (Learner’s Book page 126)
DEBTORS CONTROL CREDITORS CONTROL
DEBTORS LIST CREDITORS LIST
Activity 6�63 (Learner’s Book page 126)
General Ledger of Trendy Traders Balance Sheet Section
DEBTORS CONTROL B4
CREDITORS CONTROL B5
Debtors List on 31 May 20�4 Creditors List on 31 May 20�4
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 80 2011/09/10 8:44 AM
81Chapter 6 Bookkeeping of a sole trader
Activity 6�64 (Learner’s Book page 128)
General Ledger of Ross’s Retailers Balance Sheet Section
CREDITORS CONTROL B3
DEBTORS CONTROL B6
EQUIPMENT B7
Nominal Accounts Section COST OF SALES N2
DEBTORS ALLOWANCES N3
DISCOUNT RECEIVED N4
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 81 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook82
Activity 6�65 (Learner’s Book page 129)
Creditors Ledger of Rugby Ltd M� HARMAN CL3
Date Details/Document No� Fol� Debit Credit Balance
Activity 6�66 (Learner’s Book page 129)
GENERAL JOURNAL OF GASQUET SUPPLIERS FOR MARCH 2013 GJ3
Doc� Day Details Fol� Debit CreditDebtors Control Creditors Control
Debit Credit Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 82 2011/09/10 8:44 AM
83Chapter 6 Bookkeeping of a sole trader
Act
ivit
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67
(Lea
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’s B
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pag
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Focus Accounting Grade 10 Workbook84
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 84 2011/09/10 8:44 AM
85Chapter 6 Bookkeeping of a sole trader
Activity 6�68 (Learner’s Book page 131)
GENERAL JOURNAL OF GET SET SUPPLIERS FOR APRIL 20�13 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control Creditors Control
Debit Credit Debit Credit
Activity 6�69 (Learner’s Book page 131)
General Ledger of Roddick Retailers Balance Sheet Section
CREDITORS CONTROL B
Activity 6�70 (Learner’s Book page 132)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4.
General Ledger of Sleepy Hollows Balance Sheet Section CONSUMABLE STORES N3
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 85 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook86
Exam practice (Learner’s Book page 133)
1.
No� JournalGeneral Ledger Subsidiary ledger
Effect on the Accounting Equation
Account debit Account credit Account debit Account credit A OE L
a)
b)
c)
d)
e)
f)
g)
2. General Ledger of Smart Stores
Balance Sheet SectionCREDITORS CONTROL B3
DEBTORS CONTROL B6
TRADING STOCK B7
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 86 2011/09/10 8:44 AM
87Chapter 6 Bookkeeping of a sole trader
3.
Debtors Ledger of Hillcrest Stores S� TUTTON DL7
Date Details/Document no� Fol� Debit Credit Balance
4. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
..........................................................................................................................................................................
c) ..........................................................................................................................................................................
..........................................................................................................................................................................
d) ..........................................................................................................................................................................
e) ..........................................................................................................................................................................
f) ..........................................................................................................................................................................
..........................................................................................................................................................................
g) ..........................................................................................................................................................................
5.
NumberDebtors Control account Debtors List
Debit Credit Debit Credit
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
TOTAL
Balance Total debit Total credit Balance
Debtors Control
Debtors List
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 87 2011/09/10 8:44 AM
Focus Accounting Grade 10 Workbook88
Programme of Assessment – Test Term 1 answer book
Test term 1 (100 marks) (Learner’s Book page 135)
QUESTION 1 (20 marks)Creditors Ledger of Milnerton Traders
HORNSEY WHOLESALERS CL7Date Details/Document No. Fol. Debit Credit Balance
QUESTION 2 (29 marks)Debtors Ledger of Mrs Price Traders
M. SMITH DL4Date Details/Document no. Fol. Debit Credit Balance
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 88 2011/09/14 12:55 PM
89Programme of Assessment – Test Term 1 answer book
QUESTION 3 (38 marks)General Ledger of Hector Traders
Balance Sheet Section CREDITORS CONTROL B3
DEBTORS CONTROL B6
TRADING STOCK B7
Nominal Accounts Section DEBTORS ALLOWANCES N3
QUESTION 4 (28 marks)
4.1
General Ledger of Tom’s Traders Balance Sheet Section
TRADING STOCK B3
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 89 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook90
4.2 ...............................................................................................................................................................................
4.3.1 ...............................................................................................................................................................................
4.3.2 ...............................................................................................................................................................................
4.4 ...............................................................................................................................................................................
4.5.1
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
4.5.2
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 90 2011/09/14 12:55 PM
91Programme of Assessment – Project answer book
Prog
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of A
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01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 91 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook92
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01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 92 2011/09/14 12:55 PM
93Programme of Assessment – Project answer book
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01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 93 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook94
DEBTORS JOURNAL OF STATION SHOP FOR MARCH 20.0 DJ1
Doc. Day Debtor Fol. SalesCost of
sales
DEBTORS ALLOWANCES JOURNAL OF STATION SHOP FOR MARCH 20.0 DAJ1
Doc. Day Debtor Fol.Debtors
allowancesCost of
sales
DEBTORS JOURNAL OF STATION SHOP FOR APRIL 20.0 DJ2
Doc. Day Debtor Fol. Sales Cost of sales
DEBTORS ALLOWANCES JOURNAL OF STATION SHOP FOR APRIL 20.0 DAJ1
Doc. Day Debtor Fol. Debtors allowances
Cost of sales
CREDITORS JOURNAL OF STATION SHOP FOR APRIL 20.0 CJ1
Doc. Day Creditor Fol. Creditors Control
Trading stock Stationery
Sundry accountsAmount Fol. Details
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 94 2011/09/14 12:55 PM
95Programme of Assessment – Project answer book
CREDITORS ALLOWANCES JOURNAL OF STATION SHOP FOR APRIL 20.0 CAJ1
Doc. Day Creditor Fol.Creditors Control
Trading stock
StationerySundry accounts
Amount Fol. Details
PETTY CASH JOURNAL OF STATION SHOP FOR APRIL 20.0 PCJ2
Doc. DayName of
payeeFol. Petty cash
Sundry expenses
PostageSundry accounts
Amount Fol. Details
GENERAL JOURNAL OF STATION SHOP FOR APRIL 20.0 GJ1
Doc. Day Details Fol. Debit CreditDebtors Control Creditors ControlDebit Credit Debit Credit
General Ledger of Station Shop Balance Sheet section
CAPITAL B1
PARENT’S ASSOCIATION B2
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 95 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook96
BANK B3
TRADING STOCK B4
EQUIPMENT B5
PETTY CASH B6
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 96 2011/09/14 12:55 PM
97Programme of Assessment – Project answer book
CASH FLOAT B7
DEBTORS CONTROL B8
NOTICE DEPOSIT: MIDAS B9
LOAN: CLIFTON HIGH SCHOOL B10
CREDITORS CONTROL B11
DRAWINGS B12
Nominal Accounts Section SALES N1
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 97 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook98
COST OF SALES N2
RENT INCOME N3
RENT EXPENSE N4
SUNDRY EXPENSES N5
ADVERTISING N6
BANK CHARGES N7
TELEPHONE N8
DISCOUNT ALLOWED N9
DEBTORS ALLOWANCES N10
INTEREST INCOME N11
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 98 2011/09/14 12:55 PM
99Programme of Assessment – Project answer book
POSTAGE N12
DONATIONS N13
DISCOUNT RECEIVED N14
STATIONERY N15
INTEREST ON OVERDUE ACCOUNT N16
INTEREST ON LOAN N17
INTEREST ON INVESTMENT N18
BAD DEBTS N19
Debtors Ledger of Station Shop B. BUTLER DL1
Date Details/Document No. Fol. Debit Credit Balance
C. CHANDLER DL2
Date Details/Document No. Fol. Debit Credit Balance
G. GARSIDE DL3
Date Details/Document No. Fol. Debit Credit Balance
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 99 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook100
J. SAVAGE DL4
Date Details/Document No. Fol. Debit Credit Balance
S. SINGH DL5
Date Details/Document No. Fol. Debit Credit Balance
F. MKHIZE DL6
Date Details/Document No. Fol. Debit Credit Balance
Debtors List as at March 20.0 Debtors List as at April 20.0
Creditors Ledger of Station Shop WILTONS CL1
Date Details/Document No. Fol. Debit Credit Balance
INNOVATIONS CC CL2
Date Details/Document No. Fol. Debit Credit Balance
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 100 2011/09/14 12:55 PM
101Programme of Assessment – Project answer book
GHI STORES CL3
Date Details/Document No. Fol. Debit Credit Balance
Creditors List as at April 20.0
TRIAL BALANCE OF STATION SHOP AS AT 28 FEBRUARY 20.0Details Fol. Debit Credit
Balance Sheet Section
Nominal Accounts Section
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 101 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook102
TRIAL BALANCE OF STATION SHOP AS AT 31 MARCH 20.0Details Fol. Debit Credit
Balance Sheet Section
Nominal Accounts Section
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 102 2011/09/14 12:55 PM
103Programme of Assessment – Project answer book
TRIAL BALANCE OF STATION SHOP AS AT 30 APRIL 20.0Details Fol. Debit Credit
Balance Sheet Section
Nominal Accounts Section
01 FOA G10 WB - Chapter 06 [Bookkeeping of a sole trader].indd 103 2011/09/14 12:55 PM
Focus Accounting Grade 10 Workbook104
Chapter 7 Value-added tax (VAT)
Activity 7�1 (Learner’s Book page 143)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 7�2 (Learner’s Book page 147)
2.
Goods or service Zero-rated Goods or service Zero-rated
White bread Carrots
Rice Chips
Breakfast cereal Milk powder
Maize meal/mealie meal Tinned jam
Petrol Lentils
Exam practice (Learner’s Book page 148)
1.
a) ..........................................................................................................................................................................
..........................................................................................................................................................................
b) ..........................................................................................................................................................................
..........................................................................................................................................................................
c) ..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3.
a) ..........................................................................................................................................................................
..........................................................................................................................................................................
b) ..........................................................................................................................................................................
..........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 104 2011/09/10 8:45 AM
105Chapter 7 Value-added tax (VAT)
c)
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
.......................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 105 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook106
Chapter 8 Salaries and wages
Activity 8�1 (Learner’s Book page 149)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6. Curriculum vitae – ................................................................................................................................................
...............................................................................................................................................................................
7. ...............................................................................................................................................................................
8. ...............................................................................................................................................................................
9. ...............................................................................................................................................................................
10. ...............................................................................................................................................................................
11. ...............................................................................................................................................................................
Activity 8�2 (Learner’s Book page 150)
1.
Salary Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
Beginning 102 000
Increment 6 600 7 200
Final annual salary 150 000
2. ...............................................................................................................................................................................
Year 1 Year 2 Year 3 Year 4 Year 5
...............................................................................................................................................................................
Activity 8�3 (Learner’s Book page 151)
PART A − Breakdown of package
Salary (annual)
Bonus
Total earnings
Medical aid deduction
Pension contribution
UIF
Total cost to company
PART B − Breakdown of annual take-home pay
Earnings
Bonus
Total earnings
Employee deductions
PAYE
Medical aid
Pension fund
UIF
Take-home earnings
Monthly earnings
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 106 2011/09/10 8:45 AM
107Chapter 8 Salaries and wages
Act
ivit
y 8�
4 (L
earn
er’s
Boo
k p
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152)
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Act
ivit
y 8�
5 (L
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er’s
Boo
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age
154)
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Act
ivit
y 8�
7 (L
earn
er’s
Boo
k p
age
159)
SALA
RIES
JOU
RNA
L O
F BO
SS T
RAD
ERS
FOR
THE
MO
NTH
EN
DED
31
MAY
20�
1SJ
1
Empl
oyee
Basi
c sa
lary
Bonu
sG
ross
sa
lary
Ded
uctio
nsEm
ploy
er’s
cont
ribu
tions
PAYE
UIF
Staff
as
soci
atio
nPe
nsio
n fu
ndM
edic
al a
id
fund
Tota
lN
et s
alar
y Pe
nsio
n fu
ndM
edic
al a
id
fund
UIF
Tota
l
Gen
eral
Led
ger o
f Bos
s Tra
ders
Ba
lanc
e Sh
eet S
ectio
n
CRED
ITO
RS F
OR
SALA
RIES
B1
SA
RS: P
AYE
B2
U
NEM
PLO
YMEN
T IN
SURA
NCE
FU
ND
(UIF
)
B3
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 107 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook108
PENSION FUND B4
STAFF ASSOCIATION B5
MEDICAL AID CONTRIBUTIONS B6
Nominal Accounts Section SALARIES N1
PENSION FUND CONTRIBUTION N2
MEDICAL AID CONTRIBUTION N3
UIF CONTRIBUTION N4
Activity 8�8 (Learner’s Book page 159)
No� Account debit Account credit Amount Assets = Owner’s Equity + Liabilities
1.
2.
3.
4.
5.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 108 2011/09/10 8:45 AM
109Chapter 8 Salaries and wages
Act
ivit
y 8�
9 (L
earn
er’s
Boo
k p
age
162)
SALA
RIES
JOU
RNA
L O
F RA
GS
TO R
ICH
ES F
OR
THE
MO
NTH
EN
DED
30
NO
VEM
BER
20�2
SJ1
Empl
oyee
Gro
ss
sala
ry
Ded
uctio
nsN
et s
alar
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ploy
er’s
cont
ribu
tion
PAYE
UIF
Pens
ion
fund
Med
ical
fu
ndTo
tal
UIF
Pens
ion
Med
ical
aid
Tota
l
D. D
ub
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000
0099
000
6600
600
0030
000
6600
600
0015
000
M. H
lon
gwan
e8
670
001
293
0075
0086
700
409
0075
0086
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205
00
N. G
um
edi
10 9
0000
2 98
200
112
001
090
0055
400
112
001
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0022
700
CASH
PAY
MEN
TS JO
URN
AL
OF
RAG
S TO
RIC
HES
FO
R N
OVE
MBE
R 20
�2CP
J1
Doc
�D
ayN
ame
of p
ayee
Fol�
Bank
Sund
ry a
ccou
nts
Am
ount
Fol�
Det
ails
Calc
ulat
ions
Empl
oyee
Tota
lN
et s
alar
y
D. D
ub
e
M. H
lon
gwan
e
N. G
um
edi
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 109 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook110
General Ledger of Rags to Riches Balance Sheet Section
CREDITORS FOR SALARIES B1
SARS: PAYE B2
UNEMPLOYMENT INSURANCE FUND (UIF) B3
PENSION FUNDS B4
MEDICAL AID B5
Nominal Accounts Section SALARIES N1
PENSION FUND CONTRIBUTION N2
MEDICAL AID FUND CONTRIBUTION N3
UIF CONTRIBUTION N4
Activity 8�10 (Learner’s Book page 162)
CASH PAYMENTS JOURNAL OF GOODY 2 SHOES FOR MARCH 20�3 CPJ1
Doc� Day Name of payee Fol� BankSundry accounts
Amount Fol� Details
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 110 2011/09/10 8:45 AM
111Chapter 8 Salaries and wages
SALA
RIES
JOU
RNA
L O
F G
OO
DY
2 SH
OES
FO
R TH
E M
ON
TH E
ND
ED 3
1 M
ARC
H 2
0�3
SJ1
Empl
oyee
sBa
sic
sala
ryBo
nus
Gro
ss
sala
ry
Ded
uctio
nsN
et s
alar
yEm
ploy
er’s
cont
ribu
tion
PAYE
UIF
Pens
ion
fund
Med
ical
ai
d fu
ndTo
tal
Pens
ion
fund
Med
ical
ai
d fu
ndU
IFTo
tal
Gen
eral
Led
ger o
f Goo
dy 2
Sho
es
Bala
nce
Shee
t Sec
tion
CR
EDIT
ORS
FO
R SA
LARI
ES
B1
SA
RS: P
AYE
B2
UN
EMPL
OYM
ENT
INSU
RAN
CE F
UN
D (U
IF)
B3
PE
NSI
ON
FU
ND
B4
M
EDIC
AL
AID
FU
ND
B5
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 111 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook112
Nominal Accounts Section SALARIES N1
PENSION CONTRIBUTION N2
MEDICAL AID FUND CONTRIBUTION N3
UIF CONTRIBUTION N4
Activity 8�11 (Learner’s Book page 162)
No� Account debit Account credit Amount Assets = Owner’s Equity + Liabilities
1.
2.
3.
Activity 8�12 (Learner’s Book page 165)
Basic
Overtime
Gross wage
PAYE
UIF
Medical
Total deductions
Net wage
Activity 8�13 (Learner’s Book page 166)
CASH PAYMENTS JOURNAL OF STARSHINE FOR OCTOBER 20�3 CPJ1
Doc� Day Name of payee Fol� Bank Creditors for wages
Sundry accountsAmount Fol� Details
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 112 2011/09/10 8:45 AM
113Chapter 8 Salaries and wages
WA
GES
JOU
RNA
L O
F ST
ARS
HIN
E FO
R TH
E W
EEK
END
ED 3
1 O
CTO
BER
20�3
WJ1
Empl
oyee
Basi
c w
age
Ove
rtim
eG
ross
w
age
Ded
uctio
nsN
et w
age
Empl
oyer
’s co
ntri
butio
ns
Hou
rsRa
teA
mou
ntPA
YEU
IFPe
nsio
n fu
ndSt
aff
asso
ciat
ion
Tota
lPe
nsio
n fu
ndU
IFTo
tal
Gen
eral
Led
ger o
f Sta
rshi
ne
Bala
nce
Shee
t Sec
tion
CR
EDIT
ORS
FO
R W
AG
ES
B1
SA
RS: P
AYE
B2
UN
EMPL
OYM
ENT
INSU
RAN
CE F
UN
D (U
IF)
B3
PE
NSI
ON
FU
ND
B4
ST
AFF
ASS
OCI
ATIO
N
B5
Nom
inal
Acc
ount
s Se
ctio
n
WA
GES
N
1
PE
NSI
ON
FU
ND
CO
NTR
IBU
TIO
N
N2
U
IF C
ON
TRIB
UTI
ON
N
3
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 113 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook114
Activity 8�14 (Learner’s Book page 170)
Wages Journal informationWeek ended
Basic wage Overtime PAYEPension
fundMedical aid fund
Pension contributions
Medical aid contributions
6 Aug. 2 600 500 390 200
13 Aug. 3 000 600 450 200
20 Aug. 3 200 700 480 200
27 Aug. 4 800 950 720 200
Salaries Journal Information
Basic salary Bonuses PAYEPension
fundMedical aid
fundPension
contributionsMedical aid
contributions
95 600 10 500 15 915 10 000
General Ledger of Frozen Delights Balance Sheet Section
CREDITORS FOR WAGES B1
CREDITORS FOR SALARIES B2
SARS: PAYE B3
PENSION FUND B4
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 114 2011/09/10 8:45 AM
115Chapter 8 Salaries and wages
MEDICAL AID FUND B5
Nominal Accounts Section WAGES N1
SALARIES N2
PENSION FUND CONTRIBUTION N3
MEDICAL AID CONTRIBUTION N4
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 115 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook116
Activity 8�15 (Learner’s Book page 171)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
6. ...............................................................................................................................................................................
Activity 8�16 (Learner’s Book page 171)
No� Account debit Account credit Amount Assets = Owner’s Equity + Liabilities
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Activity 8�17 (Learner’s Book page 173)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3. Employee advantages – ........................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Employer advantages – ..........................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 116 2011/09/10 8:45 AM
117Chapter 8 Salaries and wages
4. ���������������������������������������������������������������������������������������������������������������������������������������������������������������������
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5. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 8�18 (Learner’s Book page 175)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
...............................................................................................................................................................................
6. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
7. ...............................................................................................................................................................................
...............................................................................................................................................................................
8. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 8�19 (Learner’s Book page 175)
1. Salary for 20.10
...............................................................................................................................................................................
Salary for 20.11
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. General Ledger of Percy Stores
Nominal Accounts Section UNEMPLOYMENT INSURANCE FUND (UIF) N6
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 117 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook118
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
...............................................................................................................................................................................
6. ...............................................................................................................................................................................
7. ...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 8�20 (Learner’s Book page 176)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5.
Number JournalGeneral Journal Effect on the Accounting Equation
Account debit Account credit A OE L
a)
b)
c)
Activity 8�21 (Learner’s Book page 177)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 118 2011/09/10 8:45 AM
119Chapter 8 Salaries and wages
Exam
pra
ctic
e (L
earn
er’s
Boo
k p
age
177)
1.
SALA
RIES
JOU
RNA
L O
F D
EB’S
DA
NCE
STU
DIO
FO
R TH
E M
ON
TH E
ND
ED 3
1 JA
NU
ARY
20�
2SJ
1
Empl
oyee
sBa
sic
sala
ryBo
nus
Gro
ss
sala
ry
Ded
uctio
nsN
et s
alar
yEm
ploy
er’s
cont
ribu
tion
PAYE
Staff
fund
Pens
ion
fund
Med
ical
ai
d fu
ndTo
tal
Pens
ion
fund
Med
ical
ai
dTo
tal
Gen
eral
Led
ger o
f Deb
’s D
ance
Stu
dio
Bala
nce
Shee
t Sec
tion
CR
EDIT
ORS
FO
R W
AG
ES
B1
CR
EDIT
ORS
FO
R SA
LARI
ES
B2
SA
RS: P
AYE
B3
PE
NSI
ON
FU
ND
B4
M
EDIC
AL
AID
FU
ND
B5
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 119 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook120
UNEMPLOYMENT INSURANCE FUND (UIF) B6
STAFF FUND B7
Nominal Accounts Section WAGES N1
SALARIES N2
PENSION FUND CONTRIBUTION N3
MEDICAL AID CONTRIBUTION N4
UIF CONTRIBUTION N5
2. a) b) c) d)
3. a) .........................................................................................................................................................................
.........................................................................................................................................................................
b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
d) ..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
e) ..........................................................................................................................................................................
f) ..........................................................................................................................................................................
..........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 120 2011/09/10 8:45 AM
121Chapter 9 Year-end adjustments and final accounts
Chapter 9 Year-end adjustments and final accounts
Activity 9�1 (Learner’s Book page 180)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
................................................................................................................................................................................
4. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 9�2 (Learner’s Book page 180)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
Activity 9�3 (Learner’s Book page 181)
Situation 1: ............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
Situation 2: ............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
Situation 3: ............................................................................................................................................................
............................................................................................................................................................
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Situation 4: ............................................................................................................................................................
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Situation 5: ............................................................................................................................................................
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............................................................................................................................................................
Situation 6: ............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 121 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook122
Situation 7: ............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
Situation 8: ............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
............................................................................................................................................................
Activity 9�4 (Learner’s Book page 185)
GENERAL JOURNAL OF DUKUZA STORES FOR AUGUST 20�8 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Dukuza Stores Balance Sheet Section
TRADING STOCK B1
Nominal Accounts Section TRADING STOCK DEFICIT N1
The effect on the Accounting Equation
A OE L
Activity 9�5 (Learner’s Book page 186)
GENERAL JOURNAL OF KHAN STORES FOR FEBRUARY 20�5 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Khan Stores Balance Sheet Section
CONSUMABLE STORES ON HAND B1
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 122 2011/09/10 8:45 AM
123Chapter 9 Year-end adjustments and final accounts
Nominal Accounts Section STATIONERY N1
PACKING MATERIAL N2
The effect on the Accounting Equation
A OE L
Activity 9�6 (Learner’s Book page 187)
GENERAL JOURNAL OF G STORES FOR NOVEMBER 20�6 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of G Stores Balance Sheet Section
TRADING STOCK B4
CONSUMABLE STORES ON HAND B8
Nominal Accounts Section STATIONERY N1
FUEL N2
TRADING STOCK DEFICIT N3
The effect on the Accounting Equation
A OE L
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 123 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook124
Activity 9�7 (Learner’s Book page 188)
Date Annual depreciation Accumulated depreciation1 Jan. – 31 Dec. 20.1
Activity 9�8 (Learner’s Book page 189)
Date Annual depreciation Accumulated depreciation
Activity 9�9 (Learner’s Book page 191)
GENERAL JOURNAL OF PHIKELA TRADERS FOR JUNE 20�2 GJ24Doc� Day Details Fol� Debit Credit
General Ledger of Phikela Traders Balance Sheet Section
VEHICLES B5
EQUIPMENT B6
ACCUMULATED DEPRECIATION: VEHICLES B7
ACCUMULATED DEPRECIATION: EQUIPMENT B8
Nominal Accounts Section DEPRECIATION N12
The effect on the Accounting Equation
A OE L
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 124 2011/09/10 8:45 AM
125Chapter 9 Year-end adjustments and final accounts
Activity 9�10 (Learner’s Book page 192)
GENERAL JOURNAL OF CHURCHILL TRADERS FOR AUGUST 20�7 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Churchill Traders Balance Sheet Section
DEBTORS CONTROL B1
TRADING STOCK B2
CONSUMABLE STORES ON HAND B3
Nominal Accounts Section BAD DEBTS N1
INSURANCE N2
TELEPHONE N3
TRADING STOCK DEFICIT N4
STATIONERY N5
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 125 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook126
Activity 9�11 (Learner’s Book page 194)
GENERAL JOURNAL OF SHARP HAIRDRESSERS FOR FEBRUARY 20�9 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Sharp-Sharp Hairdressers Balance Sheet Section
ACCRUED INCOME B20
ACCRUED EXPENSES B21
Nominal Accounts Section INTEREST ON INVESTMENTS N9
TELEPHONE N10
The effect on the Accounting Equation
A OE L
Answer
..........................................................................................................................................................................................
Activity 9�12 (Learner’s Book page 196)
GENERAL JOURNAL OF SAM’S REPAIRS FOR FEBRUARY 20�9 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Sam’s Repairs Balance Sheet Section
INCOME RECEIVED IN ADVANCE B19
PREPAID EXPENSES B22
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 126 2011/09/10 8:45 AM
127Chapter 9 Year-end adjustments and final accounts
Nominal Accounts Section FEE INCOME N9
INSURANCE N12
The effect on the Accounting Equation
A OE L
Activity 9�13 (Learner’s Book page 197)
General Ledger of Zindiwe’s Electrical Goods Shop Balance Sheet Section
TRADING STOCK B6
DEBTORS CONTROL B7
ACCUMULATED DEPRECIATION: VEHICLES B10
ACCUMULATED DEPRECIATION: EQUIPMENT B11
INCOME RECEIVED IN ADVANCE B12
ACCRUED EXPENSES B13
ACCRUED INCOME B14
PREPAID EXPENSES B15
CONSUMABLE STORES ON HAND B16
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 127 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook128
Nominal Accounts Section RENT INCOME N4
DISCOUNT ALLOWED N5
BAD DEBTS N6
STATIONERY N7
VEHICLE REPAIRS N8
INSURANCE N10
COMMISSION INCOME N11
TRADING STOCK DEFICIT N13
DEPRECIATION N14
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 128 2011/09/10 8:45 AM
129Chapter 9 Year-end adjustments and final accounts
Zindiwe’s Electrical Goods Shop POST-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 20�6
Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
Answers
Adjustment 2: ................................................................................................................................................................
Adjustment 4: ................................................................................................................................................................
Adjustment 6: ................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 129 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook130
Activity 9�14 (Learner’s Book page 198)
GENERAL JOURNAL OF GRIBBLE TRADERS FOR FEBRUARY 20�4 GJ12Doc� Day Details Fol� Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 130 2011/09/10 8:45 AM
131Chapter 9 Year-end adjustments and final accounts
General Ledger of Gribble Traders Balance Sheet Section
ACCUMULATED DEPRECIATION: VEHICLES B7
ACCUMULATED DEPRECIATION: EQUIPMENT B8
TRADING STOCK B10
DEBTORS CONTROL B11
PREPAID EXPENSES B16
ACCRUED INCOME B17
INCOME RECEIVED IN ADVANCE B18
ACCRUED EXPENSES B19
CONSUMABLE STORES ON HAND B20
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Focus Accounting Grade 10 Workbook132
Nominal Accounts Section SALES N1
DEBTORS ALLOWANCES N2
COST OF SALES N3
RENT INCOME N7
STATIONERY N10
FEE INCOME N12
INTEREST ON INVESTMENT B14
RATES AND TAXES N16
BAD DEBTS N17
INTEREST ON LOAN N19
TRADING STOCK DEFICIT N22
DEPRECIATION N23
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 132 2011/09/10 8:45 AM
133Chapter 9 Year-end adjustments and final accounts
POST-ADJUSTMENT TRIAL BALANCE OF GRIBBLE TRADERS AS AT 28 FEBRUARY 20�4Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 133 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook134
Activity 9�15 (Learner’s Book page 204)
GENERAL JOURNAL OF NTINI ESTATE AGENCY FOR APRIL 20�1 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Ntini Estate Agency Balance Sheet Section
CAPITAL B1
DRAWINGS B2
Nominal Accounts Section ADVERTISING N1
COMMISSION INCOME N2
INTEREST ON FIXED DEPOSIT N3
INTEREST ON LOAN N4
MOTOR VEHICLE EXPENSES N5
SALARIES N6
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 134 2011/09/10 8:45 AM
135Chapter 9 Year-end adjustments and final accounts
STATIONERY AND PRINTING N7
TELEPHONE N8
TRADING LICENCE N9
WATER AND ELECTRICITY N10
Final Accounts Section PROFIT AND LOSS ACCOUNT F1
POST-ADJUSTMENT TRIAL BALANCE OF NTINI ESTATE AGENCY AS AT 30 APRIL 20�1Details Fol� Debit Credit
Balance Sheet Section
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 135 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook136
Activity 9�16 (Learner’s Book page 205)
GENERAL JOURNAL OF PAT’S PLUMBING SERVICES FOR JUNE 20�1 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Pat’s Plumbing Services Balance Sheet Section
CAPITAL B1
DRAWINGS B2
Nominal Accounts Section ADVERTISING N1
BAD DEBTS N2
BANK CHARGES N3
FEE INCOME N4
INTEREST ON CURRENT ACCOUNT N5
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 136 2011/09/10 8:45 AM
137Chapter 9 Year-end adjustments and final accounts
INTEREST ON LOAN N6
MOTOR VEHICLE EXPENSES N7
REPAIRS N8
SALARIES N9
STATIONERY N10
TELEPHONE N11
TRADING LICENCE N12
Final Accounts Section PROFIT AND LOSS ACCOUNT F2
POST-CLOSING TRIAL BALANCE OF PAT’S PLUMBING SERVICES AS AT 30 JUNE 20�1Details Fol� Debit Credit
Balance Sheet Section
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 137 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook138
Activity 9�17 (Learner’s Book page 209)
GENERAL JOURNAL OF HOWA TRADERS FOR FEBRUARY 20�1 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Howa Traders Balance Sheet Section
CAPITAL B1
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 138 2011/09/10 8:45 AM
139Chapter 9 Year-end adjustments and final accounts
DRAWINGS B2
Nominal Accounts Section SALES N1
COST OF SALES N2
ADVERTISING N3
BAD DEBTS N4
CONSUMABLE STORES N5
DEBTORS ALLOWANCES N6
INTEREST ON CURRENT ACCOUNT N7
RATES AND TAXES N8
RENT INCOME N9
SALARIES AND WAGES N10
TELEPHONE N11
TRADING LICENCE N12
TRADING STOCK DEFICIT N13
WATER AND ELECTRICITY N14
Final Accounts Section TRADING ACCOUNT F1
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 139 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook140
PROFIT AND LOSS ACCOUNT F2
POST-ADJUSTMENT TRIAL BALANCE OF HOWA TRADERS AS AT 28 FEBRUARY 20�1Details Fol� Debit Credit
Balance Sheet Section
Activity 9�18 (Learner’s Book page 211)
GENERAL JOURNAL OF DHLAMINI DEALERS FOR FEBRUARY 20�7 GJ12
Doc� Day Details Fol� Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 140 2011/09/10 8:45 AM
141Chapter 9 Year-end adjustments and final accounts
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 141 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook142
General Ledger of Dhlamini Dealers Balance Sheet Section
CAPITAL B1
DRAWINGS B2
MORTGAGE LOAN: FIRST BANK B3
LAND AND BUILDINGS B4
VEHICLES B5
EQUIPMENT B6
ACCUMULATED DEPRECIATION: VEHICLES B7
ACCUMULATED DEPRECIATION: EQUIPMENT B8
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 142 2011/09/10 8:45 AM
143Chapter 9 Year-end adjustments and final accounts
FIXED DEPOSIT: FIRST BANK B9
TRADING STOCK B10
DEBTORS CONTROL B11
BANK B12
CREDITORS CONTROL B13
ACCRUED EXPENSES B14
ACCRUED INCOME B15
PREPAID INCOME B16
PREPAID EXPENSES B17
CONSUMABLE STORES ON HAND B18
Nominal Accounts Section SALES N1
COST OF SALES N2
DEBTORS ALLOWANCES N3
SALARIES AND WAGES N4
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 143 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook144
INTEREST ON LOAN N5
INTEREST ON FIXED DEPOSIT N6
COMMISSION INCOME N7
WATER AND ELECTRICITY N8
CONSUMABLE STORES N9
TELEPHONE N10
RENT INCOME N11
BAD DEBTS N12
MOTOR EXPENSES N13
SUNDRY EXPENSES N14
INTEREST ON OVERDUE DEBTORS N15
BANK CHARGES N16
TRADING STOCK DEFICIT N17
DEPRECIATION N18
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 144 2011/09/10 8:45 AM
145Chapter 9 Year-end adjustments and final accounts
Final Accounts Section TRADING ACCOUNT F1
PROFIT AND LOSS ACCOUNT F2
POST-CLOSING TRIAL BALANCE OF DHLAMINI DEALERS AS AT 28 FEBRUARY 20�7Details Fol� Debit Credit
Balance Sheet Section
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 145 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook146
Activity 9�19 (Learner’s Book page 212)
GENERAL JOURNAL OF DAVE’S STORES FOR JUNE 20�7 GJ12Doc� Day Details Fol� Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 146 2011/09/10 8:45 AM
147Chapter 9 Year-end adjustments and final accounts
General Ledger of Dave’s Stores Final Accounts Section
TRADING ACCOUNT F1
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 147 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook148
PROFIT AND LOSS ACCOUNT F2
POST-CLOSING TRIAL BALANCE OF DAVE’S STORES AS AT 30 JUNE 20�7Details Fol� Debit Credit
Balance Sheet Section
Activity 9�20 (Learner’s Book page 214)
1.General Ledger of Nelson Spaza Shop
Balance Sheet Section DEBTORS CONTROL B2
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 148 2011/09/10 8:45 AM
149Chapter 9 Year-end adjustments and final accounts
TRADING STOCK B3
CONSUMABLE STORES ON HAND B4
ACCRUED INCOME B5
PREPAID EXPENSES B6
ACCRUED EXPENSES B7
INCOME RECEIVED IN ADVANCE B8
Nominal Accounts Section STATIONERY N1
RENT INCOME N2
INTEREST ON INVESTMENTS N3
BAD DEBTS N4
INSURANCE N5
TRADING STOCK DEFICIT N6
TELEPHONE N7
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 149 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook150
GENERAL JOURNAL OF NELSON SPAZA SHOP FOR FEBRUARY 20�7 GJ12Doc� Day Details Fol� Debit Credit
2. The effect on the Accounting Equation
Number A OE L
a)
b)
c)
d)
Activity 9�21 (Learner’s Book page 219)
GENERAL JOURNAL OF KWINDA SUPPLIERS FOR JULY 20�6 GJ49Doc� Day Details Fol� Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 150 2011/09/10 8:45 AM
151Chapter 9 Year-end adjustments and final accounts
General Ledger of Kwinda Suppliers Balance Sheet Section
CONSUMABLE STORES ON HAND B5
ACCRUED EXPENSES B6
PREPAID EXPENSES B7
ACCRUED INCOME B8
INCOME RECEIVED IN ADVANCE B9
Nominal Accounts Section PACKING MATERIAL N5
RATES AND TAXES N6
WAGES N7
COMMISSION INCOME N8
RENT INCOME N9
The effect on the Accounting Equation
A OE L
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 151 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook152
Activity 9�22 (Learner’s Book page 219)
GENERAL JOURNAL OF VANDA’S ACCESSORIES FOR MARCH 20�8 GJ12Doc� Day Details Fol� Debit Credit
General Ledger of Vanda’s Accessories Balance Sheet Section
CONSUMABLE STORES ON HAND B5
ACCRUED EXPENSES B6
PREPAID EXPENSES B7
ACCRUED INCOME B8
INCOME RECEIVED IN ADVANCE B9
Nominal Accounts Section STATIONERY N5
TELEPHONE N6
INSURANCE N7
INCOME ON FIXED DEPOSIT N8
RENT INCOME N9
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 152 2011/09/10 8:45 AM
153Chapter 9 Year-end adjustments and final accounts
The effect on the Accounting Equation
A OE L
Answer
..........................................................................................................................................................................................
Exam practice (Learner’s Book page 220)
GENERAL JOURNAL OF NINGISA’S CRAFTS FOR FEBRUARY 20�9 GJ60
Doc� Day Details Fol� Debit CreditDebtors Control
Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 153 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook154
*Calculation of depreciation:
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
POST-ADJUSTMENT TRIAL BALANCE OF NINGISA’S CRAFTS AS AT 28 FEBRUARY 20�9
Details Fol� Debit CreditBalance Sheet Section
Nominal Accounts Section
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 154 2011/09/10 8:45 AM
155Chapter 9 Year-end adjustments and final accounts
General Ledger of Ningisa’s Crafts Balance Sheet Section
CAPITAL B1
Final Accounts Section TRADING ACCOUNT F1
PROFIT AND LOSS ACCOUNT F2
GENERAL JOURNAL OF NINGISA’S CRAFTS FOR MARCH 20�9 GJ61Doc� Day Details Fol� Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 155 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook156
Number Account Dr Account Cr A OE L
1. a)
1. b)
4.
6.
2.
5.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 156 2011/09/10 8:45 AM
157Programme of Assessment: Mid-year examination Answer Book
Programme of Assessment: Mid-year examination Answer Book
Grade 10
Mid-year examination
Read the following instructions carefully:
1. This Answer Book consists of 5 pages (including the front cover).
2. Make sure your rough work is legible and comprehensible.
3. You may not use green or red ink.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 157 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook158
Question 1: Analysing transactions (43 marks; 25 minutes)
Document 1
1.1 ...............................................................................................................................................................................
1.2
Account Dr Account Cr A OE L
1.3 Interest on 28 February 2010: ...........................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
1.4 ...............................................................................................................................................................................
...............................................................................................................................................................................
1.5 ...............................................................................................................................................................................
Document 2
1.6 Reason 1: .............................................................................................................................................................
Reason 2: .............................................................................................................................................................
1.7 ...............................................................................................................................................................................
1.8
Journal Account Dr Account Cr A OE L
1.9 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Document 3
1.10 ...............................................................................................................................................................................
Reason: ................................................................................................................................................................
1.11 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
1.12.2 ...............................................................................................................................................................................
...............................................................................................................................................................................
1.13.1 ...............................................................................................................................................................................
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1.13.2 ...............................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 158 2011/09/10 8:45 AM
159Programme of Assessment: Mid-year examination Answer Book
1.13.3 ...............................................................................................................................................................................
...............................................................................................................................................................................
Question 2: Trading stock account (32 marks; 20 minutes)
2.1 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
2.2 General Ledger of Mkize Spaza Shop
Balance Sheet SectionTRADING STOCK B8
2.3 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Question 3: General Ledger and control measures (58 marks; 37 minutes)
3.1 General Ledger of Smart Stores
Balance Sheet SectionDEBTORS CONTROL B5
CREDITORS CONTROL B6
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 159 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook160
Nominal Accounts SectionSALES N1
PACKING MATERIAL N5
BAD DEBTS N7
3.2.1 ...............................................................................................................................................................................
...............................................................................................................................................................................
3.2.2 ...............................................................................................................................................................................
...............................................................................................................................................................................
3.2.3 ...............................................................................................................................................................................
...............................................................................................................................................................................
3.2.4 ...............................................................................................................................................................................
...............................................................................................................................................................................
3.2.5 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Question 4: Year-end procedures (29 marks; 15 minutes)General Ledger of Frankies Furniture Shop
Final Accounts SectionTRADING ACCOUNT F1
PROFIT AND LOSS ACCOUNT F2
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 160 2011/09/10 8:45 AM
161Programme of Assessment: Mid-year examination Answer Book
POST-CLOSING TRIAL BALANCE OF FRANKIE’S FURNITURE SHOP AS AT 28TH FEBRUARY 20�9
Details Fol� Debit Credit
Balance Sheet Section
Question 5: General theory (38 marks; 23 minutes)
5.1 a) .........................................................................................................................................................................
b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
d) ..........................................................................................................................................................................
e) ..........................................................................................................................................................................
f) ..........................................................................................................................................................................
5.2 a) .........................................................................................................................................................................
.........................................................................................................................................................................
b) ..........................................................................................................................................................................
c)
Item Zero-rated Vat exempt Standard VAT rate
Interest on overdraft
Salaries and wages
Cash sales
Petrol
Vegetables
d) ..........................................................................................................................................................................
..........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 161 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook162
5.3 a) ..........................................................................................................................................................................
..........................................................................................................................................................................
b) ...........................................................................................................................................................................
...........................................................................................................................................................................
c) ...........................................................................................................................................................................
d)
Journal Account debit Account credit A = OE + L
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 162 2011/09/10 8:45 AM
163Chapter 10 How to prepare financial statements
Chapter 10 How to prepare financial statements
Activity 10�1 (Learner’s Book page 222)
• .....................................................................................................................................................................................
.....................................................................................................................................................................................
• .....................................................................................................................................................................................
.....................................................................................................................................................................................
• .....................................................................................................................................................................................
.....................................................................................................................................................................................
Activity 10�2 (Learner’s Book page 228)
Lenake Stores INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 20�9
Notes 20�9
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 163 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook164
Lenake Stores BALANCE SHEET AS AT 30 JUNE 20�9
Notes 20�9ASSETS
Non-current assets
Fixed/Tangible assets 3
Financial assets:
Fixed deposit
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan
Current liabilities
Trade and other payables 8
Bank overdraft
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 30 June 20�9
1� Interest income
2� Interest expense
3� Fixed/Tangible assets Land and buildings Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 164 2011/09/10 8:45 AM
165Chapter 10 How to prepare financial statements
4� Inventory
5� Trade and other receivables
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 165 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook166
Activity 10�3 (Learner’s Book page 229)
The Melting Pot INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 20�8
Notes 20�8
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
The Melting Pot BALANCE SHEET AS AT 30 JUNE 20�8
Notes 20�8ASSETS
Non-current assets
Fixed/Tangible assets 3
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: Friars Bank
Current liabilities
Trade and other payables 8
TOTAL EQUITY AND LIABILITIES
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167Chapter 10 How to prepare financial statements
Notes to the financial statements for the year ended 30 June 20�8
1� Interest income
2� Interest expense
3� Fixed/Tangible assetsLand and buildings
Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
4� Inventory
5� Trade and other receivables
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 167 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook168
Activity 10�4 (Learner’s Book page 231)
The Lawnmower Shop INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�8
Notes 20�8
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
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169Chapter 10 How to prepare financial statements
The Lawnmower Shop BALANCE SHEET AS AT 28 FEBRUARY 20�8
Notes 20�8ASSETS
Non-current assets
Fixed/Tangible assets 3
Financial assets:
Fixed deposit: Zuma Bank
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: Quick Cash Loans
Current liabilities
Trade and other payables 8
Bank overdraft
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 28 February 20�8
1� Interest income
2� Interest expense
3� Fixed/Tangible assetsLand and buildings Vehicles Equipment Total
Cost at beginning of year
Movements
Additions at cost
Cost at end of year
4� Inventory
5� Trade and other receivables
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 169 2011/09/10 8:45 AM
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6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
Activity 10�5 (Learner’s Book page 232)
Fit & Fun Store INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�6
Notes 20�6
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
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171Chapter 10 How to prepare financial statements
Fit & Fun Store BALANCE SHEET AS AT 28 FEBRUARY 20�6
Notes 20�6ASSETS
Non-current assets
Fixed/Tangible assets 3
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: Ace Bank
Current liabilities
Trade and other payables 8
Current portion of loan
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 28 February 20�6
1� Interest income
2� Interest expense
3� Fixed/Tangible assetsLand and buildings Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
4� Inventory
5� Trade and other receivables
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 171 2011/09/10 8:45 AM
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6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
Activity 10�6 (Learner’s Book page 233)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
3. ...............................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 172 2011/09/10 8:45 AM
173Chapter 10 How to prepare financial statements
Activity 10�7 (Learner’s Book page 234)
Mellow Traders INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�9
Notes 20�9
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 173 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook174
Mellow Traders BALANCE SHEET AS AT 28 FEBRUARY 20�9
Notes 20�9ASSETS
Non-current assets
Fixed/Tangible assets 3
Financial assets:
Fixed deposit: CQ Bank
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: Reed Bank
Current liabilities
Trade and other payables 8
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 28 February 20�9
1� Interest income
2� Interest expense
3� Fixed/Tangible assetsLand and buildings Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
4� Inventory
5� Trade and other receivables
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175Chapter 10 How to prepare financial statements
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
Activity 10�8 (Learner’s Book page 235)
Bula Deliveries INCOME STATEMENT FOR THE 6 MONTHS ENDED 31 AUGUST 20�8
Notes 20�8
Fee income
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
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Bula Deliveries BALANCE SHEET AS AT 31 AUGUST 20�8
Notes 20�8ASSETS
Non-current assets
Fixed/Tangible assets 3
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: BB Bank
Current liabilities
Trade and other payables 8
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the 6 months ended 31 August 20�8
1� Interest income
2� Interest expense
3� Fixed/Tangible assets Vehicles Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
4� Inventory
5� Trade and other receivables
6� Cash and cash equivalents
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177Chapter 10 How to prepare financial statements
7� Owner’s Equity
8� Trade and other payables
Activity 10�9 (Learner’s Book page 236)
1. Sometimes financial statements are prepared during the year so that:
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2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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4. ...............................................................................................................................................................................
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5. ...............................................................................................................................................................................
...............................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 177 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook178
Activity 10�10 (Learner’s Book page 236)
Froth INCOME STATEMENT FOR THE YEAR ENDED 31 OCTOBER 20�7
Notes 20�7
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
*Depreciation calculation for equipment:
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 178 2011/09/10 8:45 AM
179Chapter 10 How to prepare financial statements
Froth BALANCE SHEET AS AT 31 OCTOBER 20�7
Notes 20�7ASSETS
Non-current assets
Fixed/Tangible assets 3
Financial assets:
Fixed deposit: Plus Bank
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: Cash Care
Current liabilities
Trade and other payables
Current portion of long-term long 8
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 31 October 20�7
1� Interest income
2� Interest expense
3� Fixed/Tangible assetsLand and buildings Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 179 2011/09/10 8:45 AM
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4� Inventory
5� Trade and other receivables
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
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181Chapter 10 How to prepare financial statements
Activity 10�11 (Learner’s Book page 238)
Fast Forward Traders INCOME STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 20�7
Notes 20�7
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
*Depreciation on equipment calculation:
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
Notes to the Income Statement for the year ended 30 November 20�7
1� Interest income
2� Interest expense
7� Owner’s Equity
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GENERAL JOURNAL OF FAST FORWARD TRADERS FOR DECEMBER 20�7 GJ13Doc� Day Details Fol� Debit Credit
Answers
4. Adjustment 1: .....................................................................................................................................................
Adjustment 6: .....................................................................................................................................................
5. ...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 182 2011/09/10 8:45 AM
183Chapter 10 How to prepare financial statements
Exam practice (Learner’s Book page 239)
Electron INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�9
Notes 20�9
Sales (Net)
Cost of sales
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
*Depreciation on equipment calculation:
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
..........................................................................................................................................................................................
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Focus Accounting Grade 10 Workbook184
Electron BALANCE SHEET AS AT 28 FEBRUARY 20�9
Notes 20�9ASSETS
Non-current assets
Fixed/Tangible assets 3
Financial assets:
Fixed deposit
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: Bidup Bank
Current liabilities
Trade and other payables 8
Current portion of long-term loan
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 28 February 20�9
1� Interest income
2� Interest expense
3� Fixed/Tangible assetsLand and buildings Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
4� Inventory
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 184 2011/09/10 8:45 AM
185Programme of Assessment – Case study answers
5� Trade and other receivables
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
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Focus Accounting Grade 10 Workbook186
Programme of Assessment – Case study answer book
(Learner’s Book page 241)
Q Snacks INCOME STATEMENT FOR THE YEAR ENDED 31 MAY 20.12
Notes 20.12
Sales (Net)
Cost of sales
Gross profit
Operating expenses
Operating profit
Interest income 1
Profit before interest expense
Interest expense 2
NET PROFIT FOR THE YEAR 7
Q Snacks BALANCE SHEET AS AT 31 MAY 20.12
Notes 20.12ASSETS
Non-current assets
Fixed/Tangible assets 3
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan
Current liabilities
Trade and other payables 8
TOTAL EQUITY AND LIABILITIES
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187Programme of Assessment – Case study answer book
Notes to the financial statements for the year ended 31 May 20.12
1. Interest income
2. Interest expense
3. Fixed/Tangible assets Vehicles Equipment Total
Carrying value at beginning of year
Cost
Accumulated depreciation
Movements
Additions at cost
Disposals at carrying value
Depreciation
Carrying value at end of year
Cost
Accumulated depreciation
4. Inventory
5. Trade and other receivables
6. Cash and cash equivalents
7. Owner’s Equity
8. Trade and other payables
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Focus Accounting Grade 10 Workbook188
Answers:
1. ...............................................................................................................................................................................
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2.
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3. ...............................................................................................................................................................................
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189Chapter 11 Analysis and interpretation of financial statements and notes
Chapter 11 Analysis and interpretation of financial statements and notes
Activity 11�1 (Learner’s Book page 244)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
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4. The advice that I would give the owner about how they are financing the business:
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5. I would not be satisfied with Ezeh Traders’s profit as:
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Activity 11�2 (Learner’s Book page 246)
Sales Cost of sales Gross profitGross profit
3100
Cost of sales 1
Gross profit3
100
Sales 1
R383 125 R306 500
R27 000 R9 000
R127 500 R85 000
R437 500 R250 000
R329 800 R164 900
R170 000 R68 000
Activity 11�3 (Learner’s Book page 247)
1. Gross profit % on sales = = =
Gross profit % on cost of sales = = =
Net profit % on sales = = =
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 189 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook190
Operating expenses % on sales = = =
Operating profit % on sales = = =
2. The calculations reveal the following about the profitability of Sediba Solutions over the past year:
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Activity 11�4 (Learner’s Book page 248)
1. The following problems need to be investigated:
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2. 20�9 20�8
Gross profit % on sales = =
Gross profit % on cost of sales = =
Net profit % on sales = =
Operating expenses % on sales = =
Operating profit % on sales = =
3.
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Activity 11�5 (Learner’s Book page 249)
Gross profit % on sales = = =
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191Chapter 11 Analysis and interpretation of financial statements and notes
Gross profit % on cost of sales = = =
Net profit % on sales = = =
Operating expenses % on sales = = =
Operating profit % on sales = = =
Activity 11�6 (Learner’s Book page 250)
1. Current ratio: ......................................................................................................................................................
= ...................................................................................................................................................
= ...................................................................................................................................................
Acid-test ratio: ....................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
Solvency ratio: ....................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
2. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
3.
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• .........................................................................................................................................................................
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Activity 11�7 (Learner’s Book page 250)
1. Current ratio: ......................................................................................................................................................
= ...................................................................................................................................................
= ...................................................................................................................................................
Acid-test ratio: ....................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
Solvency ratio: ....................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
2. a) ..........................................................................................................................................................................
b) ..........................................................................................................................................................................
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Activity 11�8 (Learner’s Book page 251)
Return on investment =
= =
..........................................................................................................................................................................................
..........................................................................................................................................................................................
Activity 11�9 (Learner’s Book page 251)
1. Gross profit % on sales = = =
Gross profit % on cost of sales = = =
Net profit % on sales = = =
Operating expenses % on sales = = =
Operating profit % on sales = = =
Current ratio: ......................................................................................................................................................
= ...................................................................................................................................................
= ...................................................................................................................................................
Acid-test ratio: ....................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
Solvency ratio: ....................................................................................................................................................
= .................................................................................................................................................
= .................................................................................................................................................
Return on investment =
= =
2. Comments:
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193Chapter 11 Analysis and interpretation of financial statements and notes
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Calculations for Activity 11.9
Gross income
Net profit
Owner’s Equity:
Capital at beginning of year + additional capital – drawings + net profit
= ......................................................................................................................................................................................
= ......................................................................................................................................................................................
= ......................................................................................................................................................................................
Exam practice (Learner’s Book page 251)
Calculations:
Gross profit % on sales = = =
Gross profit % on cost of sales = = =
Net profit % on sales = = =
Operating expenses % on sales = = =
Operating profit % on sales = = =
Current ratio: .................................................................................................................................................................
= .............................................................................................................................................................
= .............................................................................................................................................................
Acid-test ratio: ..............................................................................................................................................................
= ...........................................................................................................................................................
= ...........................................................................................................................................................
= ...........................................................................................................................................................
Solvency ratio: ..............................................................................................................................................................
= ...........................................................................................................................................................
= ...........................................................................................................................................................
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Focus Accounting Grade 10 Workbook194
Return on investment =
= =
Comments:
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 194 2011/09/10 8:45 AM
195Programme of Assessment – Test Term 3 answer book
Programme of Assessment – Test Term 3 answer book
Test Term 3 (100 marks) (Learner’s Book page 253)
Question 1
1.1 Gross profit % on sales = = =
1.2 ...............................................................................................................................................................................
= ............................................................................................................................................................................
= ............................................................................................................................................................................
1.3 ...............................................................................................................................................................................
= ............................................................................................................................................................................ = ............................................................................................................................................................................
1.4
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1.5 ...............................................................................................................................................................................
= ............................................................................................................................................................................ = ............................................................................................................................................................................
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1.6 Debtors allowances % on sales =
= =
1.7
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1.8 Return on investment =
= =
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1.9 Interest on loan % = = =
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Focus Accounting Grade 10 Workbook196
1.10 ................................................................................................................................................................................
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1.11
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Question 2
2.1 Gross profit % on sales = = =
2.2 Gross profit % on cost of sales = = =
2.3 Net profit % on sales = = =
2.4 Operating expenses % on sales = = =
................................................................................................................................................................................
2.5 Return on investment =
= =
................................................................................................................................................................................
2.6
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2.7 ................................................................................................................................................................................
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2.8 ................................................................................................................................................................................
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197Chapter 12 Cost Accounting
Chapter 12 Cost Accounting
Activity 12�1 (Learner’s Book page 255)
1. ...............................................................................................................................................................................
2. ...............................................................................................................................................................................
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3. ...............................................................................................................................................................................
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Activity 12�2 (Learner’s Book page 258)
1.
Cost itemDirect
material costs
Direct labour costs
OverheadsIndirect
materialsIndirect labour
Other
Factory telephone account
Bicycle saddles
Wage of factory cleaner
Wage of mechanic assembling the bicycles
Rent of factory
Bicycle tyres
Bicycle grease
Worker welding parts together
Insurance
Paint used on the bicycle
Salary of office secretary
Stationery
2.
A B C D
E F G H
Activity 12�3 (Learner’s Book page 259)
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Activity 12�4 (Learner’s Book page 260)
1. a) .........................................................................................................................................................................
b) ..........................................................................................................................................................................
2. a) .........................................................................................................................................................................
b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
d) ..........................................................................................................................................................................
e) ..........................................................................................................................................................................
f) ..........................................................................................................................................................................
3. a) .........................................................................................................................................................................
b) ..........................................................................................................................................................................
4. ...............................................................................................................................................................................
5. ...............................................................................................................................................................................
Activity 12�5 (Learner’s Book page 261)
1. ...............................................................................................................................................................................
...............................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. ...............................................................................................................................................................................
...............................................................................................................................................................................
4. a) .........................................................................................................................................................................
b) ..........................................................................................................................................................................
c) ............................................................................................................................................................................
d) ..........................................................................................................................................................................
e) ..........................................................................................................................................................................
Exam practice (Learner’s Book page 262)
1. a) .........................................................................................................................................................................
.........................................................................................................................................................................
b) ..........................................................................................................................................................................
..........................................................................................................................................................................
c) ..........................................................................................................................................................................
..........................................................................................................................................................................
d) ..........................................................................................................................................................................
..........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 198 2011/09/10 8:45 AM
199Chapter 12 Cost Accounting
e) ..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
f) ..........................................................................................................................................................................
..........................................................................................................................................................................
g) ..........................................................................................................................................................................
..........................................................................................................................................................................
h) ..........................................................................................................................................................................
..........................................................................................................................................................................
i) ..........................................................................................................................................................................
2.
Cost itemDirect
material costs
Direct labour costs
OverheadsIndirect
materialsIndirect labour
Other
Flour
Wage of baker
Wage of mechanic who fixes machines
Sugar
Office stationery
Wage of worker who mixes dough
Factory floor polish
Rent of building
Salt
Insurance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 199 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook200
Chapter 13 Budgets
Activity 13�1 (Learner’s Book page 263)
1.
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
2.
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
Activity 13�4 (Learner’s Book page 267)
CASH BUDGET OF SWEETWATERS SCHOOL TUCK-SHOP FOR THE FIRST THREE MONTHS1st month 2nd month 3rd month
Cash receipts
Cash payments
Surplus/(deficit)
Money at beginning of month
Money at end of month
Activity 13�5 (Learner’s Book page 269)
A B C
D E F
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 200 2011/09/10 8:45 AM
201Chapter 13 Budgets
Exam practice (Learner’s Book page 270)
1. a. ..........................................................................................................................................................................
..........................................................................................................................................................................
b. ..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
c. ..........................................................................................................................................................................
..........................................................................................................................................................................
2. ...............................................................................................................................................................................
...............................................................................................................................................................................
3. Important questions to consider:
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
When drawing up a Cash Budget you:
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 201 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook202
Programme of Assessment: Year-end exam answer book
Grade 10
Year-end examination
Read the following instructions carefully:
1. This Answer Book consists of 5 pages (including the front cover).
2. Make sure your rough work is legible and comprehensible.
3. You may not use green or red ink
01 FOA G10 WB - Chapter 13 [Budgets].indd 202 2011/09/14 12:58 PM
203Programme of Assessment: Year-end exam answer book
Question 1: Income Statement and notes (136 marks; 60 minutes)Imbali Electrical Supplies
INCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20.12Notes 20.12
Sales (Net) (480 000
Cost of sales (248 700
Gross profit
Other operating income
Gross operating income
Operating expenses
Operating profit
Interest income (900 1
Profit before interest expense
Interest expense (11 100 2
NET PROFIT FOR THE YEAR 7
01 FOA G10 WB - Chapter 13 [Budgets].indd 203 2011/09/14 12:58 PM
Focus Accounting Grade 10 Workbook204
Imbali Electrical Supplies BALANCE SHEET AS AT 28 FEBRUARY 20.12
Notes 20.12
ASSETS
Non-current assets
Fixed/Tangible assets 3
Financial assets:
Fixed deposit
Current assets
Inventory 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS
EQUITY AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan
Current liabilities
Trade and other payables 8
TOTAL EQUITY AND LIABILITIES
Notes to the financial statements for the year ended 28 February 20.12
4. Inventory
5. Trade and other receivables
6. Cash and cash equivalents
8. Trade and other payables
01 FOA G10 WB - Chapter 13 [Budgets].indd 204 2011/09/14 12:58 PM
205Programme of Assessment: Year-end exam answer book
Questions 2: Salaries and wages (50 marks; 20 minutes)
2.1.1 ...............................................................................................................................................................................
...............................................................................................................................................................................
2.1.2
Pension
Medical aid
PAYE
UIF
Total
2.13 ...............................................................................................................................................................................
2.2
CASH PAYMENTS JOURNAL OF OYENA TRADERS FOR FEBRUARY 20.12 CPJ1
Doc. Day Name of payee Fol. BankSundry accounts
Amount Fol. Details
2.3
General Ledger of Oyena Traders Balance Sheet Section
CREDITORS FOR SALARIES B1
PENSION FUND B2
2.4
Salary Wage
2.5
Contribution Deduction
2.6.1 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
2.6.2 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
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Focus Accounting Grade 10 Workbook206
Question 3: Financial statement analysis (42 marks; 20 minutes)
3.1 ...............................................................................................................................................................................
Comment: ...........................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3.2 ...............................................................................................................................................................................
...............................................................................................................................................................................
3.3 ...............................................................................................................................................................................
...............................................................................................................................................................................
Comment: ...........................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3.4 ...............................................................................................................................................................................
Comment: ...........................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3.5 Solvency = ...........................................................................................................................................................
Comment: ...........................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
3.6 Current ratio = ....................................................................................................................................................
Acid-test ratio = ..................................................................................................................................................
Comment: ...........................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Question 4: Budgets, VAT and costing (72 marks; 20 minutes)
A Multiple choice questions
4.1 4.2 4.3 4.4 4.5
4.6 4.7 4.8 4.9 4.10
B Short questions
4.11
Direct materials (10 300
Direct labour
Overheads (420
Total
4.12 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
01 FOA G10 WB - Chapter 13 [Budgets].indd 206 2011/09/14 12:58 PM
207Programme of Assessment: Year-end exam answer book
4.13 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
4.14 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
4.15 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
4.16 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
4.17 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
01 FOA G10 WB - Chapter 13 [Budgets].indd 207 2011/09/14 12:58 PM
Focus Accounting Grade 10 Workbook208
Revision
Internal control and ethics (Learner’s Book page 282)
Question 1: EthicsSUGGESTED CODE OF ETHICS
Gifts
1. ................................................................................................................................................................................
................................................................................................................................................................................
2. ................................................................................................................................................................................
................................................................................................................................................................................
3. ................................................................................................................................................................................
................................................................................................................................................................................
4. ................................................................................................................................................................................
................................................................................................................................................................................
5. ................................................................................................................................................................................
................................................................................................................................................................................
Question 2: Controls
Problem Suggested controls
Books stolen in bags
Books damaged in the library
Books damage while on loan
Books not being returned
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 208 2011/09/10 8:45 AM
209Revision
Copyright laws being broken on reference books
Library assistants allowing references to be checked out
Question 3: Controls
Type of control Example
Preventive
Detective
Corrective
Directive
Subsidiary journals and ledgers (Learner’s Book page 271)
Question 4: Journals and ledgers
DEBTORS JOURNAL OF INCREDIBLE BOOKS FOR MAY 20�5 DJ1
Doc� Day Debtor Fol� Sales Cost of sales
DEBTORS ALLOWANCES JOURNAL OF INCREDIBLE BOOKS FOR MAY 20�5 DAJ1
Doc� Day Debtor Fol� Debtors allowances
Cost of sales
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Focus Accounting Grade 10 Workbook210
CASH
REC
EIPT
S JO
URN
AL
OF
INCR
EDIB
LE B
OO
KS F
OR
MAY
20�
5CR
J1
Doc
�D
ayD
etai
lsFo
l�A
naly
sis
of
rece
ipts
Bank
Sale
sCo
st o
f sal
esD
ebto
rs C
ontr
olSu
ndry
acc
ount
s
Rece
ipts
Dis
coun
t al
low
edA
mou
ntFo
l�D
etai
ls
CASH
PAY
MEN
TS JO
URN
AL
OF
INCR
EDIB
LE B
OO
KS F
OR
MAY
20�
5CP
J1
Doc
�D
ayN
ame
of p
ayee
Fol�
Bank
Trad
ing
stoc
k
Cred
itors
Con
trol
Sund
ry a
ccou
nts
Paym
ents
Dis
coun
t re
ceiv
edA
mou
ntFo
l�D
etai
ls
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 210 2011/09/10 8:45 AM
211Revision
CREDITORS JOURNAL OF INCREDIBLE BOOKS FOR MAY 20�5 CJ1
Doc� Day Creditor Fol�Creditors Control
Trading stock
StationerySundry accounts
Amount Fol� Details
CREDITORS ALLOWANCES JOURNAL OF INCREDIBLE BOOKS FOR MAY 20�5 CAJ1
Doc� Day Creditor Fol�Creditors Control
Trading stock
StationerySundry accounts
Amount Fol� Details
General Ledger of Incredible Books Balance Sheet Section
TRADING STOCK B4
DEBTORS CONTROL B5
CREDITORS CONTROL B6
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 211 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook212
Question 5: General Ledger and Debtors Ledger
General Ledger of Pretty Pillows Balance Sheet Section
TRADING STOCK B4
DEBTORS CONTROL B5
Nominal Accounts Section PACKING MATERIAL N16
DISCOUNT ALLOWED N17
Debtors Ledger of Pretty Pillows C� FLUFFY DL1
Date Details Fol� Debit Credit Balance
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 212 2011/09/10 8:45 AM
213Revision
Question 6: Analyse transactions, using source documents, journals, ledgers and the Accounting Equation
Date Document Journal Account debit Account credit A = OE + L
1.
2.
3.
4.
5.
6.
7.
8.
6.2.1 ...............................................................................................................................................................................
...............................................................................................................................................................................
6.2.2 ...............................................................................................................................................................................
6.2.3 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Question 7: General Journal and Trial Balance
GENERAL JOURNAL OF THOMAS TANKER TRUCKERS FOR DECEMBER 20�7 GJ1
Doc� Day Details Fol� Debit CreditDebtors Control Creditors Control
Debit Credit Debit Credit
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 213 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook214
Thomas Tanker TrucksTRIAL BALANCE AS AT 31 DECEMBER 20�7
Details Fol� Debit Credit
Balance Sheet Section
Nominal Accounts Section
Question 8: Debtors Ledger
Debtors Ledger of Crichton CakesMICHELLE DU PONT DL9
Date Details Fol� Debit Credit Balance
20.7
Feb. 1 Balance b/d 2 000 00
2 Interest charged GJ 2 075 00
4 DJ 4 575 00
6 Receipt 304 CRJ 2 500 00
9(Missing 5% trade discount on previous purchase) DAJ
12 CPJ
20 GJ
8.2.1 ...............................................................................................................................................................................
8.2.2 ...............................................................................................................................................................................
8.2.3 ...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 214 2011/09/10 8:45 AM
215Revision
8.2.4 a) ...........................................................................................................................................................................
...........................................................................................................................................................................
...........................................................................................................................................................................
b) ...........................................................................................................................................................................
...........................................................................................................................................................................
...........................................................................................................................................................................
c) ...........................................................................................................................................................................
...........................................................................................................................................................................
...........................................................................................................................................................................
d) ...........................................................................................................................................................................
...........................................................................................................................................................................
...........................................................................................................................................................................
Question 9: Analyse ledger accounts
9.1 ................................................................................................................................................................................
9.2 ................................................................................................................................................................................
9.3 ................................................................................................................................................................................
9.4 ................................................................................................................................................................................
9.5 ................................................................................................................................................................................
................................................................................................................................................................................
9.6 ................................................................................................................................................................................
................................................................................................................................................................................
9.7 ................................................................................................................................................................................
9.8 ................................................................................................................................................................................
................................................................................................................................................................................
9.9 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
9.10 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
9.11 ................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
................................................................................................................................................................................
9.12 ................................................................................................................................................................................
9.13 ................................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 215 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook216
Accounting concepts (Learner’s Book page 271)
Question 10: Double-entry and Accounting terms
Number Account debit Type of account Account credit Type of account Amount
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Question 11: VAT
11.1 ...............................................................................................................................................................................
11.2 ...............................................................................................................................................................................
...............................................................................................................................................................................
11.3 ...............................................................................................................................................................................
11.4 ...............................................................................................................................................................................
...............................................................................................................................................................................
11.5 ...............................................................................................................................................................................
...............................................................................................................................................................................
11.6 ...............................................................................................................................................................................
11.7 ...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 216 2011/09/10 8:45 AM
217Revision
Sala
ries
an
d w
ages
(L
earn
er’s
Boo
k p
age
281)
Qu
esti
on
12:
Wag
es J
ou
rnal
Clai
re’s
Clea
ning
Ser
vice
W
AG
ES JO
URN
AL
OF
FOR
THE
WEE
K EN
DED
5 O
CTO
BER
20�9
WJ3
7
Empl
oyee
Basi
c w
age
Ove
rtim
e
Gro
ss w
age
Ded
uctio
ns
Net
wag
e
Empl
oyer
’s co
ntri
butio
ns
Hrs
Rate
Am
ount
PAYE
UIF
Med
ical
aid
Pens
ion
fund
Tota
lU
IFPe
nsio
n fu
ndTo
tal
Gen
eral
Led
ger o
f Cla
ire’s
Clea
ning
Ser
vice
Ba
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ectio
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CRED
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B4
SA
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 217 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook218
Nominal Accounts Section WAGES N10
UIF CONTRIBUTION N11
PENSION FUND CONTRIBUTION N12
12.2 a) ..........................................................................................................................................................................
..........................................................................................................................................................................
b) ..........................................................................................................................................................................
..........................................................................................................................................................................
c) ..........................................................................................................................................................................
..........................................................................................................................................................................
..........................................................................................................................................................................
d) F. Tsele:
..........................................................................................................................................................................
= ......................................................................................................................................................................
= ......................................................................................................................................................................
Question 13: Calculate Net salary
13.1 ...............................................................................................................................................................................
= ............................................................................................................................................................................
= ............................................................................................................................................................................
13.2 Salary Year 1 Year 2 Year 3 Year 4 Year 5
...............................................................................................................................................................................
= ........................................................................................................................................................................... )
= ............................................................................................................................................................................
Question 14: Analyse Wages and Salary Journals
14.1 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 218 2011/09/10 8:45 AM
219Revision
14.2 General Ledger of Tasty Treats
Balance Sheet SectionUNEMPLOYMENT INSURANCE FUND (UIF) B9
14.3 ...............................................................................................................................................................................
14.4 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
14.5 ...............................................................................................................................................................................
14.6 ...............................................................................................................................................................................
14.7 ...............................................................................................................................................................................
...............................................................................................................................................................................
14.8 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
Final Accounts (Learner’s Book page 275)
Question 15: Final accounts and Post-closing Trial Balance
15.1 General Ledger of Gaby’s Goodies
Final Accounts SectionTRADING ACCOUNT F1
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Focus Accounting Grade 10 Workbook220
15.2
PROFIT AND LOSS ACCOUNT F2
15.3
Gaby’s Goodies POST-CLOSING TRIAL BALANCE AS AT 31 DECEMBER 20�9
Details Fol� Debit Credit
Balance Sheet Section
Question 16: Final accounts and Post-closing Trial Balance
16.1 General Ledger of Rare Wines
Final Accounts Section TRADING ACCOUNT F1
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221Revision
PROFIT AND LOSS ACCOUNT F2
16.2
Rare Wines POST-CLOSING TRIAL BALANCE AS AT 30 JUNE 20�7
Details Fol� Debit Credit
Balance Sheet Section
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Focus Accounting Grade 10 Workbook222
Question 17: Calculate the net profit
General Ledger of DJ Designs Final Accounts Section
PROFIT AND LOSS ACCOUNT F2
17.2 ...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
...............................................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 222 2011/09/10 8:45 AM
223Revision
Financial statements (Learner’s Book page 276)
Question 18: Income Statement and Balance Sheet
Sports RetailersINCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�1
Notes 20�1
Sales (Net)
Cost of sales
Gross profit
Operating income
Gross operating income
Operating expenses
Operating profit for the year
Interest income 1
Net profit before interest expense/financing cost
Interest expense 2
NET PROFIT (LOSS) FOR THE YEAR
Sports RetailersBALANCE SHEET AS AT 28 FEBRUARY 20�1
Notes 20�1ASSETS
Non-current assets
Tangible assets/Fixed assets 3
Financial assets:
–
Current assets
Inventories 4
Trade and other receivables 5
Cash and cash equivalents 6
TOTAL ASSETS EQUITIES AND LIABILITIES
Owner’s Equity 7
Non-current liabilities
Loan: ABSA Bank
Current liabilities
Trade and other payables 8
TOTAL EQUITIES AND LIABILITIES
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 223 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook224
Notes to the financial statements for the year ended 28 February 20�1
2� Interest expense
3� Fixed/Tangible assetsLand and buildings
Vehicles Equipment Total
4� Inventory
5� Trade and other receivables
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 224 2011/09/10 8:45 AM
225Revision
Question 19: Income Statement
Call NowINCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�1
Notes 20�1
Sales (Net)
Cost of sales
Gross profit
Operating income
Gross operating income
Operating expenses
Operating profit for the year
Interest income 1
Net profit before interest expense/financing cost
Interest expense 2
NET PROFIT (LOSS) FOR THE YEAR
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 225 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook226
Question 20: Income Statement and notes to the Balance Sheet
Sparky’s Electrical SuppliesINCOME STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 20�2
Notes 20�2
Sales (Net)
Cost of sales
Gross profit
Operating income
Gross operating income
Operating expenses
Operating profit for the year
Interest income 1
Net profit before interest expense/financing cost
Interest expense 2
NET PROFIT (LOSS) FOR THE YEAR
Notes to the financial statements for the year ended 28 February 20�2
1� Interest income
3� Fixed/Tangible assetsLand and buildings Equipment Total
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 226 2011/09/10 8:45 AM
227Revision
4� Inventory
5� Trade and other receivables
6� Cash and cash equivalents
7� Owner’s Equity
8� Trade and other payables
Ratio analysis (Learner’s Book page 279)
Question 21: Ratio analysis
21.1 Current ratio = ....................................................................................................................................................
= ....................................................................................................................................................
= ....................................................................................................................................................
21.2 Acid-test ratio = ..................................................................................................................................................
= ..................................................................................................................................................
= ..................................................................................................................................................
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 227 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook228
21.3 Comments:
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
• .........................................................................................................................................................................
..........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
21.4 Gross profit = ......................................................................................................................................................
= ......................................................................................................................................................
21.5 Mark up achieved = ...........................................................................................................................................
= ...........................................................................................................................................
21.6 Comments on mark-up:
• .........................................................................................................................................................................
• Probable causes: .............................................................................................................................................
.........................................................................................................................................................................
• Advice: ............................................................................................................................................................
.........................................................................................................................................................................
21.7 Operating expenses on sales = ........................................................................................................................
= ........................................................................................................................
Comments:
• .........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
21.8 Return on Owner’s Equity:
• Owner’s Equity (20.9) = ...............................................................................................................................
• Owner’s Equity (20.10) = .............................................................................................................................
.............................................................................................................................................................................. ]
= ............................................................................................................................................................................
21.9
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
• .........................................................................................................................................................................
.........................................................................................................................................................................
Question 22: Ratio analysis
22.1 ...............................................................................................................................................................................
22.2 ...............................................................................................................................................................................
22.3 Operating profit/turnover = ..............................................................................................................................
= ..............................................................................................................................
...............................................................................................................................................................................
22.4 ...............................................................................................................................................................................
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229Revision
22.5 ...............................................................................................................................................................................
22.6 ...............................................................................................................................................................................
22.7 Solvency ratio = ..................................................................................................................................................
= ..................................................................................................................................................
...............................................................................................................................................................................
22.8 ...............................................................................................................................................................................
22.9 ...............................................................................................................................................................................
Question 23: Ratio analysis
23.1 a) Actual mark-up achieved in 20.10 = ..........................................................................................................
b) Operating profit on turnover:
Operating profit: ..........................................................................................................................................
.........................................................................................................................................................................
c) Operating expenses on turnover/sales = ...................................................................................................
= ..................................................................................................
d) Current ratio on 30 September 20.10:
CA = ................................................................................................................................................................
= ................................................................................................................................................................
CA : CL = .........................................................................................................................................................
= ..........................................................................................................................................................
e) Acid-test ratio on 30 September 20.10 = ...................................................................................................
f) Value of non-current liabilities:
TA : TL = .........................................................................................................................................................
TA = ................................................................................................................................................................ )
= .................................................................................................................................................................
TL = .................................................................................................................................................................
g) Return ratio = ............................................................................................................................................... *
= ................................................................................................................................................
= ................................................................................................................................................
*Average capital = .........................................................................................................................................
23.2 ...............................................................................................................................................................................
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23.3 a) ..........................................................................................................................................................................
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b) ..........................................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 229 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook230
c) ..........................................................................................................................................................................
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23.4 ...............................................................................................................................................................................
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23.5 ...............................................................................................................................................................................
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23.6 Financial Accounting .........................................................................................................................................
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Managerial Accounting .....................................................................................................................................
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Costing and budgets (Learner’s Book page 280)
Question 24: Costing concepts
A B C D
E F G H
Question 25: Calculate costs
25.1 Direct materials
= ...............................................................
= ...............................................................
= ...............................................................
25.2 Indirect materials
= ...............................................................
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= ...............................................................25.3 Direct labour
= ...............................................................
= ...............................................................
25.4. Indirect labour
= ...............................................................
= ...............................................................25.5 Total direct costs
= ...............................................................
= ...............................................................
= ...............................................................
25.6 Overheads
= ...............................................................
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= ...............................................................
= ...............................................................25.7 Total cost of production
= ...............................................................
= ...............................................................
= ...............................................................
25.8 Total cost of production
= ...............................................................
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= ...............................................................
= ...............................................................
Question 26: Budgets
26.1 A Cash Budget ....................................................................................................................................................
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 230 2011/09/10 8:45 AM
231Revision
26.2 A Zero-based Budget .........................................................................................................................................
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26.3 ...............................................................................................................................................................................
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26.4 The bank wants to see:
a) ..........................................................................................................................................................................
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b) ..........................................................................................................................................................................
c) ..........................................................................................................................................................................
26.5 ...............................................................................................................................................................................
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Accounting Equation (Learner’s Book page 282)
Question 27: Basic transactions
Number Assets = Owner’s Equity + Liabilities1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Question 28: General Journal and the Accounting Equation
Number Assets = Owner’s Equity + Liabilities1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
00 FOA G10 WB - 1st pages [1 Sep 2011].indb 231 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook232
Notes and calculations
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 232 2011/09/10 8:45 AM
233Notes and calculations
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 233 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook234
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 234 2011/09/10 8:45 AM
235Notes and calculations
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 235 2011/09/10 8:45 AM
Focus Accounting Grade 10 Workbook236
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00 FOA G10 WB - 1st pages [1 Sep 2011].indb 236 2011/09/10 8:45 AM
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