GENERAL
EDUCATION AND TRAINING
GRADE 9
ECONOMIC AND MANAGEMENT SCIENCES P1
JUNE 2024
MARKS: 50
TIME: 1 hour
This question paper consists of 6 pages.
EMS P1
2
GET-Grade 9
MDE/June 2024
INSTRUCTIONS AND INFORMATION:
1
This question paper consists of SECTION A and SECTION B based on the prescribed
content framework in the CAPS document.
SECTION A
ALL TOPICS
QUESTION 1
Matching items
(5)
True and false
(5)
Multiple choice
(5)
[15]
SECTION B
QUESTION 2
Accounting equation
(8)
QUESTION 3
CRJ, CPJ, DJ
(16)
QUESTION 4
General Ledger and Debtors Ledger
(11)
[35]
2
All questions are compulsory.
3
Answer all the questions (SECTION A-B) in the answer book provided.
4
Write neatly and legibly.
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GET-Grade 9
MDE/June 2024
SECTION A
QUESTION 1
1.1
MATCHING ITEMS
Choose the definition in column B that fits the correct term in column A. Write only
the correct letter (A-F) next to the question number (1.1.1 - 1.1.5) on your answer
sheet. e.g. 1.1.6 K
COLUMN A
1.1.1 Debtor
1.1.2 Trading stock
A
B
1.1.3 Trial balance
1.1.4 Cost of sales
C
D
1.1.5 Terms of credit
E
F
COLUMN B
Fifth step in the accounting cycle.
How long the person has to pay back the amount
they owe to the business.
The price the business pays for the stock.
A person or business that purchases from our
business on credit.
The cost price of all the stock that has already
been sold.
The stock that the business purchases with the
purpose of reselling it for a profit.
[5]
1.2
TRUE OR FALSE
State whether the following statements are true or false. Write only TRUE or FALSE
next to the question number on your answer sheet.
1.2.1 When setting up the trial balance, the total of the debit and credit column
always has to be equal to one another.
1.2.2 An entry will be made in the Cash Payment Journal when sales takes place.
1.2.3 Assets = Owners’ Equity – Liabilities.
1.2.4 A trading enterprise is a business that buys goods and then re-sells it at a
profit.
1.2.5 Credit terms, refer to the time period a debtor has to pay his account.
[5]
1.3
MULTIPLE CHOICE
1.3.1 One of the main reasons we set up a trial balance is:
A to determine how much money we have in the bank account.
B to determine whether no mistakes have been made while posting.
C to identify the expenses of the business.
D to calculate profit or loss.
1.3.2 When an owner takes goods for personal use, it would be recorded:
A the cost price
B the selling price
C the profit
D none of the above, it does not have to be recorded.
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(1)
(1)
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GET-Grade 9
MDE/June 2024
1.3.3 When credit sales take place, the source document will be an/an:
A Cash register roll
B Original invoice
C Duplicate receipt
D Duplicate invoice
(1)
1.3.4 Which one of the following mistakes will not affect the trial balance?
A Calculation error in the cash journals.
B Posting to the wrong side of an account in the General Ledger.
C Posting the wrong amount to the Debtors Ledger.
D Posting the wrong amount in to the Trial balance.
(1)
1.3.5 Which one of the following options is NOT a disadvantage for the business
when selling on credit?
A The business needs more operating capital.
B There are administrative costs involved.
C The risk of debtors not paying their accounts.
D Granting credit increases sales for the business.
(1)
[5]
TOTAL SECTION A: 15
SECTION B
QUESTION 2
2.1
ACCOUNTING EQUATION
Read the transactions below and show what effect each transaction will have on the
accounting equation by completing the table on your answer sheet.
E.g. The owner deposits R20 000 into the current bank account of the business to
increase his capital.
Account debited
Account credited
Assets
Bank
Capital
+ 20 000
E.g.
2.1.1
2.1.2
2.1.3
Owners’
equity
+ 20 000
Liabilities
0
Credit sales to K. Mnisi amount to R9 000 (Cost price, R7 000).
Made an EFT payment to Remax for the rent, R15 000.
Receive interest on our current account from FNB, R230.
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(2)
(2)
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GET-Grade 9
MDE/June 2024
QUESTION 3
3.1
CRJ, CPJ, DJ
Read the transactions below and complete the CRJ, CPJ and DJ on your answer
sheet.
3.1.1 Cash Receipts Journal
3.1.2 Cash Payment Journal
3.1.3 Debtors Journal
INFORMATION:
The business makes use of a 25% mark-up.
(9)
(4)
(3)
TRANSACTIONS FOR JUNE 2024:
3
8
10
15
20
24
27
29
30
The owner, R. Khonjelwayo made a direct deposit in to the current bank
account of the business to increase his capital by, R50 000. Issue receipt 1 to
him.
Made an EFT payment (no.4) to Makro for stationery, R500; consumable
stores, R900 and equipment, R1 800.
Cash sales according to cash register roll 1 amount to, R25 000.
Issue a receipt to P. Peters in respect of rent income, R14 200.
Credit sales to M. Khumalo amount to R14 000. Invoice 1 was issued to him.
Receive R5 000 from M. Khumalo as partial settlement of his account. A receipt
was issued to him.
Withdrew cash from an ATM to pay wages, R2 000.
Cash sales according to cash register roll had a cost price of R5 000.
M. Khumalo purchased goods on credit,R5 000.The business made a profit of
R1 000 on this sale.
The bank statement received from FNB shows bank charges of R120.
[16]
QUESTION 4
4.1
GENERAL LEDGER AND DEBTORS’ LEDGER
Use the information below and complete the following accounts:
4.1.1 Debtors Control account in the General Ledger
4.1.2 Debtors’ Ledger account for K. Mnisi.
(6)
(5)
INFORMATION:
The opening balances have already been completed for you.
The following journals were closed off on the last day of June:
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Cash Receipt Journal of Konsta for June 2024
Doc
Day
Details
Fol Analysis
of
receipt
Rec1
13
K. Mnisi
CRR1 21
Sales
5 200
Rec2
K. Mnisi
2 800
6
GET-Grade 9
CRJ1
Bank
14
28
30
Cash
Normans
Adendorfs
Debtors Journal of Konsta for June 2024
Doc Day
Debtor
Fol
I1
01
K. Mnisi
I2
24
M. Nel
I3
18
K. Mnisi
Sales
Cost of
sales
Debtors
control
1 200
5 200
4 000
2 300
3 500
9 800
Amount
Sundry accounts
Fol
Details
1 200
8 000
9 200
Cash Payment Journal of Konsta for June 2024
Doc Day
Name of payee
Fol
Bank
B/S
EFT1
EFT2
MDE/June 2024
5 200
2 000
2 000
1 200
2 800
2 800
Rent income
CPJ1
Trading
stock
Wages
Consumable
stores
Amount
Fol
Sundry accounts
Details
4 000
2 300
3 500
3 500
Sales
3 000
8 000
2 000
13 000
4 000
2 300
DJ1
Cost of sales
1 200
7 800
1 000
10 000
[11]
TOTAL SECTION B:35
GRAND TOTAL : 50
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