Professional Documents
Culture Documents
Ems p1 Grade 9 June 2022 QP
Ems p1 Grade 9 June 2022 QP
TIME: 1 HOUR
MARKS: 50
FINANCIAL LITERACY
INSTRUCTIONS
4 Use the special ANSWER BOOK provided to answer ALL the questions.
QUESTION 1
Match the descriptions in COLUMN B with the terms in COLUMN A. Write only the
correct letter (A – E) next to the question number (1.1 – 1.5) in the ANSWER BOOK.
COLUMN A COLUMN B
1.1 Gross profit A Customers who owe the business money
(1x5=5)
QUESTION 2
Choose the correct word from the word bank below and complete the statements that
follow. Write only the correct answer next to the question number (2.1 – 2.5) in the
ANSWER BOOK.
(1X5=5)
QUESTION 3
3.1 Analyse the transactions below to show the effect on the Accounting Equation.
3.1.1 Cash takings at the till amounted to R5 500 for goods sold. A mark-up of
10% was applied.
3.1.2 Purchased stationery for R6 800 cash from Goldfields Stationers
(6)
QUESTION 4
You are provided with the transactions from the books of Sandy Jewellers for the month
of February 2022. Sandy Pam, the owner, sells goods for cash and on credit. She adds
a mark-up of 60% on cost price for all goods.
REQUIRED TO DO:
Record the transactions provided below in the following journals. Do not close off the
journals.
4.1 Cash Receipts Journal with analysis columns for Analysis of Receipts; (8)
Bank; Sales; Cost of Sales; Debtors’ Control and Sundry Accounts
4.2 Cash Payments Journal with analysis columns for Bank; Trading Stock (7)
and Sundry Accounts.
4.3 Debtors Journal with columns for Sales and Cost of Sales. (4)
02 Sold 4 pairs of earrings and a watch for cash and received R13 280.
(CRT11)
QUESTION 5
5.1 Study the partially completed Debtors’ Ledger answer the questions that
follows.
5.1.3 Botipe Frances bought more trading stock on credit for R800, issued
Invoice no. 35. Calculate the new balance at C. Write only the new
Balance. (2)
(5)
QUESTION 6
You are supplied with information from the books of Kelo Traders for April 2022.
Required:
6 Post the above complete journals to the following accounts in the General
Ledger:
(10)
Information:
The following balance appeared in the ledger on 1 April 2022
Debtors Control R 25 465
TOTAL MARKS: 50