Gr9 EMS P1 (ENG) June 2022 Question Paper
Gr9 EMS P1 (ENG) June 2022 Question Paper
Gr9 EMS P1 (ENG) June 2022 Question Paper
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PROVINCIAL EXAMINATION
JUNE 2022
GRADE 9
(PAPER 1)
TIME: 1 hour
MARKS: 50
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ECONOMIC AND MANAGEMENT SCIENCES 2
(Paper 1) GRADE 9
1. This question paper consists of Sections A and B based on the prescribed content
framework in the CAPS Amendment Document and RATP. This paper includes
questions only on the topic of Financial Literacy.
SECTION A
SECTION B
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ECONOMIC AND MANAGEMENT SCIENCES 3
(Paper 1) GRADE 9
SECTION A
QUESTION 1
1.1.1 A/An … increases on the credit side and decreases on the debit side.
A asset
B liability
C expense
D profit (1)
1.1.2 A person who buys goods from the business and promises to pay at a
later stage is called a …
A creditor.
B salesman.
C debtor.
D director. (1)
A Debtors’ Journal.
B Cash Receipts Journal.
C Creditors’ Journal.
D General Ledger. (1)
1.1.4 When a transaction affects more than one account in the General Ledger
it is called the …
A money market.
B double entry principle.
C subsidiary journal.
D accounting cycle. (1)
1.1.5 The selling price of stock is R5 200 and the mark-up is 25%. Calculate
the cost of sales.
A 4 500
B 4 160
C 4 900
D 4 200 (1)
[5]
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ECONOMIC AND MANAGEMENT SCIENCES 4
(Paper 1) GRADE 9
Use the words in the word bank below to complete the following sentences. Write
only the answer next to the question number in the ANSWER BOOK e.g.
1.2.6 assets.
1.2.1 All money received by the business is deposited in the ______ account.
1.2.2 When funds are moved from one account to another electronically, it is
called a/an ______.
1.2.3 A/An ______ is issued when goods or services are sold on credit.
1.2.4 A ______ balance of the bank account is also called a favourable balance
in the General Ledger.
1.2.5 When the owner pays for his personal cell phone from the business bank
account, it will be recorded in the ______ journal.
(5 x 1) [5]
TOTAL SECTION A: 10
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ECONOMIC AND MANAGEMENT SCIENCES 5
(Paper 1) GRADE 9
SECTION B
Analyse the following transactions and show the effect that each one has on the
accounting equation.
No. Transaction
e.g. Bought goods from Mzimba Traders costing R6 500 and transferred
the cash to his account.
2.1 Purchased pens and envelopes, R3 000 from JP Traders and paid by
EFT.
2.2 Stock with a cost price of R2 500 and mark-up of 25% was sold for
cash to Mr Marais.
[11]
QUESTION 3: JOURNALS
Mr Bubble is the owner of The Bubble Shop, a local bubble bath and soap shop. He
had to leave the country for an urgent family matter and asked you to record his
transactions for the month of February 2022 in the Subsidiary Journals.
Use the transactions below to prepare the following journals for The Bubble Shop for
February 2022.
REQUIRED:
TRANSACTIONS
3 The owner of The Bubble Shop increased his capital contribution from
R135 000 to R200 000 via the business banking app. Receipt 001 was
issued to him.
He also paid the municipality for rates and taxes, R5 500. (EFT 01)
6 Goods with a cost price of R4 000 were sold to Mr Z. Zulu. Invoice 10 was
issued to him for R5 000.
17 Received a notification from the bank for R2 000 received from Mr Z. Zulu as
partial payment of his account.
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ECONOMIC AND MANAGEMENT SCIENCES 6
(Paper 1) GRADE 9
You are supplied with the following information for Sweety Vendors for May 2022.
REQUIRED:
Use the journal entries to post/complete the following General Ledger accounts:
NOTE:
Opening balance: The bank reflected a favourable balance of R12 000 on 1 May 2022.
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ECONOMIC AND MANAGEMENT SCIENCES 7
(Paper 1) GRADE 9
Study the following balances and totals from the General Ledger of The Hat Provider on
30 April 2022.
Stationery 12 000
Trading stock 30 000
Drawings 8 000
Wages 15 000
Sales ?
Capital 60 000
Rent income 5 000
Bank (Dr) 50 000
Telephone 10 000
Equipment 5 000
Cost of sales 100 000
Creditors’ control 15 000
REQUIRED:
5.1 Classify the accounts according to Nominal and Balance Sheet Account sections
and complete the Trial Balance in your ANSWER BOOK.
[10]
TOTAL SECTION B: 40
TOTAL: 50
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