PROVINCIAL EXAMINATION

JUNE 2023
GRADE 10
MARKING GUIDELINES

ACCOUNTING

9 pages

MARKING PRINCIPLES:
1. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is
earning marks on the figures for that item.
2. Full marks for correct answer. If answer incorrect, mark the workings provided.
3. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for
that figure (not the method mark for the answer). Note: If figures are stipulated in memo for
components of workings, these do not carry the method mark for the final answer as well.
4. Unless otherwise indicated, the positive or negative effect of any figure must be considered to
award the mark. If no + or – sign or brackets are provided, assume that the figure is positive.
5. Where indicated, part-marks may be awarded to differentiate between differing qualities of
answers from candidates.
6. Where penalties are applied, the marks for that section of the question cannot be a final
negative.
7. Where method marks are awarded for operation, the marker must inspect the reasonableness of
the answer and at least one part must be correct before awarding the mark.
8. Operation means ‘check operation’. ‘One part correct’ means operation and one part correct.
Note: check operation must be +, -, x, ÷, or per memo.
9. In awarding method marks, ensure that candidates do not get full marks for any item that is
incorrect at least in part. Indicate with a .
10. Be aware of candidates who provide valid alternatives beyond the marking guideline.
11. Codes: f = foreign item; p = placement/presentation

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 ACCOUNTING
MARKING GUIDELINES
GRADE 10

QUESTION 1: GAAP CONCEPTS AND TRANSACTION ANALYSIS

1.1 CONCEPTS

MATCH COLUMN A WITH COLUMN B

COLUMN A COLUMN B
1.1.1 D 

1.1.2 E 

1.1.3 B 

1.1.4 C 


1.1.5 F 5

1.2 ANALYSIS OF TRANSACTIONS

General Ledger Equation
Account Debit Account Credit Amount A O L
e.g. Stationery Bank R3 000 0 - +
A Bank Sales R91 000 0 + -
Cost of sales Trading Stock R65 000 - - 0
B Drawings Trading Stock R15 000 - - 0
Creditors' +
C Bank R13 500 0 0
Control -
Creditors'
Discount received  R1 500 0 + -
Control
Fixed Deposit:
D Bank R50 000 - 0 -
NBS Bank
Interest on fixed
Bank * R5 000 0 + -
deposit 
E Bank Charges Bank R 550 0 - +
Interest on
Bank R700 0 - +
Overdraft
F Trading Stock Creditors' Control R38 000 + 0 +
* Accept any reasonable difference between learner’s response and R55 000
50

TOTAL MARKS
55

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QUESTION 2: CONCEPTS AND SALARIES JOURNAL

2.1 CONCEPTS

2.1.1 Explain the difference between salaries and wages.

Allocate a mark for each valid response.  

Salaries
 Salaries are paid monthly.
 A salary is a fixed amount earned monthly.

Wages
 Wages are paid weekly.
 Wages earned are calculated according to the number of hours worked. 2

2.1.2. To which government departments are the following paid?

South African Revenue Services 

PAYE:
Accept SARS

UIF: Department of Labour  2

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 ACCOUNTING
MARKING GUIDELINES
GRADE 10

2.2.1 SALARIES JOURNAL OF HAIRCUT 100 FOR DECEMBER 2022

Deductions
Basic Total Total
Name Bonus Pension Medical Net salary
salary earnings PAYE UIF deductions
Fund Aid
B. Makumo 10 000 10 000  20 000  900  1 000  1 000  100  3 000  17 000
J. Abrahams 12 000  10 800  22 800  1 300  1 200  1 100  120  3 720  19 080
T. Khumalo 12 000 0  12 000  1 300  1 200  1 100  120 3 720  8 280
Total

Employers contributions
Total
Name Pension
Medical Aid UIF contributions
Fund
B. Makumo * 1 500 * 2 000 100  3 600
J. Abrahams  1 800  2 200 120  4 120
T. Khumalo  1 800  2 200 120  4 120
Total 41

* allocate For pension fund amount x 1,5 For medical aid amount x 2

TOTAL MARKS
45

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 ACCOUNTING
MARKING GUIDELINES
GRADE 10

QUESTION 3: GENERAL JOURNAL AND LEDGER ACCOUNTS

GENERAL JOURNAL OF VICIOUS TRADERS ON 28 FEBRUARY 2023
Creditors'
Debtors' control
No Day Details Dr Cr control
Dr Cr Dr Cr
28 Totals 3 800 960 1 050 170

A L. Dlamini 25  25
Interest on overdue
 25
account
B
Repairs 6 500

Land and buildings 6 500

C Marie Traders 600 600
Mario Brothers 600 600
D
Debtors’ allowances 8 600
J.P. Morgan 8 600 8 600
E G. Hansen 900 900

Bad debts recovered 900

F Bad debts 3 780

A.B. Villiers  3 780  3 780

G
J. Michil 750 750

J. Michil 750 750

H
Ray Suppliers 4 500 4 500

Ray Traders 4 500 4 500

Award a mark for correctly entered details and amount
4 700 13 340 7 800 6 920
Allocate one method mark for a minimum of two totals

TOTAL MARKS

30

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QUESTION 4: GENERAL LEDGER AND INTERNAL CONTROL
GENERAL LEDGER OF MANINGI TRADERS ON 28 FEBRUARY 2023
4.1.1
DEBTORS’ CONTROL
Bank and
Feb 1 Balance b/d  67 800 Feb 28 CRJ * 65 500
discount 
28 Sales Debtors'
DJ 135 900 DAJ 17 100
allowances 
Journal Journal
GJ 3 800 GJ 960
debits debits 
Balance c/d 123 940

207 500 207 500

Mar 1 Balance *Accept sundry accounts

b/d 123 940
- 1 mark if folio references are not written

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4.1.2
TRADING STOCK ACCOUNT

Feb 1 Balance b/d 173 200 Feb 28 Cost of sales  CRJ 156 000

Bank  CPJ  80 000 Cost of sales  DJ 90 600

Cost of sales  Creditors' 69 000
DAJ 11 400 Control  CAJ

Creditors' CJ c/d
 84 300 Balance 33 300
Control 
348 900 348 900

Balance *Accept sundry accounts

Mar 1 b/d  33 300
- 1 mark if folio references are not written

16

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4.2 INTERNAL CONTROL

4.2.1 Ray is concerned about the stock figures. He suspects that there are
employees who are stealing from the business. Provide calculations to
support his concern.

Calculations Answer

85 000 + 75 000 – 63 000 – 89 000 8 000  one part

correct
Accept account or trading stock Value of missing stock
2
account.

4.2.2 Provide TWO internal control measures that must be implemented to

protect stock from theft.
Any TWO acceptable answers   one mark for partially correct response
 Regular and random physical stock counts.
 Order smaller quantities, but more frequently.
 Improve physical security e.g., controls at entrance/security cameras.
 Division of duties – receiving of stock, payments and stock keeping should be
done by separate individuals to minimise the risk of theft. 4
 Random audits on stock should be conducted regularly.

4.2.3Comment on goods returned by customers. Provide figures to support

your answer. What control measures must be put in place by a
business?
Comment
Valid comment figure 
 The percentage of goods returned is high compared to total sales, 12%
returns.(Accept total sales are R39 000 and returns are high at R4 680)

Control measures
Any one acceptable answer  one mark for partially correct response
 The business must ensure that correct goods are delivered to customers/delivery
matches the order placed.
 Packaging of goods should be improved to avoid any damages in goods.
 If inferior quality is the reason for returns, consider changing the supplier.
 Design a policy for returns (e.g. returns within 14 days).
 Goods must be checked for damages before they are handed over to the
customers. 4

TOTAL MARKS

40

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QUESTION 5: CREDITORS' RECONCILIATIONS AND INTERNAL CONTROL

5.1.1 CREDITORS' RECONCILIATION

GENERAL LEDGER OF KAGISO TRADERS

BALANCE SHEET ACCOUNTS SECTION

CREDITORS' CONTROL
Feb 28 Bank and CPJ 33 200 Feb 1 Balance b/d 6 830
Discount 
received (8 330 - 1 500)
(30 800 + 2 400)
Creditors' CAJ 5 460 28 Total purchases CJ  48 220
allowances (48 400 – 180)
(4 800 + 360
+ 300)
Journal debits GJ 450 Journal credits GJ 580

Balance c/d 16 520

55 630 55 630

Mar 1 Balance b/d  16 520

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CREDITORS' LIST OF KAGISO TRADERS ON 28 FEBRUARY 2023

NAME Credit
S. Mvelase (7 500 - 2 400)  5 100
M. Pillay (3 800 – 250 – 250) or – 500 One part  3 300
correct
P. George (2 850 – 850 )  2 000
R. Mokoena (6 300 –180  –) check control a/c One part  6 120
correct

16 520 11

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5.1.2 What measures should be implemented by the business to avoid paying
for goods that were not received by the business? Provide TWO points.
Any two acceptable answers   one mark for partially correct response
 All purchases of goods must be authorised by the senior personnel.
 Goods received must be checked against purchase order, invoice and delivery
note.
 Receiving of goods from suppliers, storage of goods or recording of goods should
not be handled by one person.
4
(Allocate one mark for division of duties.)

TOTAL MARKS

30

TOTAL: 200