DEPARTMENT FOR CURRICULUM,

LIFELONG LEARNING AND EMPOLYABILITY

Directorate for Learning and Assessment Programmes
Educational Assessment Unit
Annual Examinations for Schools 2019

YEAR 9 ACCOUNTING TIME: 2 hours

Name: _____________________________________ Class: _______________

FOR OFFICIAL USE ONLY

MARKS

SECTION A B C D E F1 F2 F3 TOTAL

MARKS 5 5 5 10 5 20 25 25 100

STUDENT’S
MARK

INSTRUCTIONS TO STUDENTS
 ANSWER ALL QUESTIONS.
 THE ORDERLY PRESENTATION OF YOUR WORK IS IMPORTANT.
 ILLEGIBLE WORK WOULD BE WRITTEN OFF.
 SECTIONS A, B, C, D AND E ARE TO BE ANSWERED ON THE PAPER.
SECTION F IS TO BE ANSWERED ON THE FOOLSCAPS PROVIDED.
 YOU HAVE TO MAKE THE NECESSARY RULINGS.

Accounting – Year 9 – 2019 Page 1 of 8

SECTION A [5 marks]

Tick () the correct answer in the space provided. Each question carries 1
mark.

1. A business prepares the Statement of Financial Position to:

(a) check the accuracy of the double entry.
(b) summarize the business’ assets, liabilities and owners’ capital
at one point in time.

2
(c) calculate the gross profit.
(d) calculate the cost of goods sold.

2. A business bought machinery on credit from Mekanika Ltd. The double

entry to record this transaction is:
(a) Debit: Machinery a/c
(b) Debit: Mekanika Ltd a/c
(c) Debit: Machinery a/c
(d) Debit: Purchases a/c
Credit: Mekanika Ltd. a/c
Credit: Machinery a/c
Credit: Bank a/c
Credit: Mekanika Ltd. a/c

3. The business paid €630 to P. Galea (a trade payable) in full settlement of

his account of €680. This type of discount is called:
(a) Trade Discount.
(b) Discount Allowed.
(c) Discount Received.
(d) Employee Discount.

4. Which of the following is an example of capital expenditure?

(a) Carriage cost on purchases.
(b) Rent of the business.
(c) Carriage costs on sales.
(d) Cost of installing a new air conditioner in the business office.

5. An example of a non-current liability is:

(a) Bank Overdraft.
(b) Trade Receivable.
(c) Bank Loan.
(d) Cash Register.

Page 2 of 8 Accounting – Year 9 – 2019

SECTION B [5 marks]

Fill in the blanks below with the appropriate words from the list. Each word
can be used once only. There are two words which are not to be used.

wages government recording summarizing suppliers capital

assets transaction reporting lenders liabilities interpreting

Bookkeeping is the process of ____________________, in chronological order, the

daily transactions of a business entity. Bookkeeping forms part of accounting, but

accounting also include the process of classifying, ____________________,

_____________________, analysing and ____________________ the financial

condition and performance of a business. Accounting sets to satisfy the needs of a wide

range of users. The main users of accounting information include; investors,

___________________, managers, ____________________, employees and

____________________.

The accounting equation can be summarized by using the following equation:

____________________ = ____________________ + ____________________

SECTION C [5 marks]

Match the following to show which book of original entry is used to first record
the following transactions. The first one is done for you.

0. Payment by cheque to a supplier of a business. Sales Day Book

1. A. Borg bought goods on credit from the Sales Returns

business. Daybook.
2. The business bought goods on credit from 0 Cash Book.
T. Gauci.
3. A motor van is bought on credit by the business. Purchases Returns
Day Book
4. A. Borg returns damaged goods to the business. Purchases Day
Book.
5. The business returns unsuitable goods to Journal.
T. Gauci.

Accounting – Year 9 – 2019 Page 3 of 8

SECTION D [10 marks]

Explain the following terms.

1. Drawings. (1 mark)

2. Non-Current Assets. (1 mark)

3. Inventory. (1 mark)

4. Trial Balance. (1 mark)

5. Current Liabilities. (1 mark)

Page 4 of 8 Accounting – Year 9 – 2019

 6. Business Entity Concept. (1 mark)

7. Real Accounts. (1 mark)

8. Nominal Accounts. (1 mark)

9. Imprest System. (1 mark)

10. Revenue Expenditure. (1 mark)

Accounting – Year 9 – 2019 Page 5 of 8

SECTION E [5 marks]

Show the effect of the following transactions on assets, liabilities or capital.

The first one is done for you.

Effect upon:
Assets Liabilities Capital
0. Bought furniture on credit. Increase (+) Increase (+)

1. Received cash from a bank

loan
2. The owner invested cash in
business
3. Bought inventory on credit.

4. Paid a trade payable by

cheque.
5. The owner paid a trade
payable from her private
money.

SECTION F [70 marks]

Answer all questions in this section on foolscaps provided.

Question 1

The following sales and purchases were made by the business of J. Grima during the
month of May 2019.

2019 Net after trade VAT (10%)

discount (€) (€)
May 1 Bought goods on credit from Nautica Ltd. 800 80
May 6 Sold goods on credit to J. Apap. 330 33
May 10 Sold goods on credit to P. Borg. 260 26
May 18 Credit purchases from Aqua Ltd. 760 76
May 28 Credit sales to P. Borg. 380 38
May 30 Bought goods on credit from Nautica Ltd. 690 69

a. You are required to enter the above information in the Sales Daybook and
Purchases Daybook.
b. Make the necessary postings from the daybooks to the personal accounts in the
Sales Ledger and Purchases Ledger.
c. Show the Sales Account and the Purchases Account as they will appear in the
General Ledger.
d. Balance off all Accounts at 31 May 2019.
[Total for Question 1: 20 marks]

Page 6 of 8 Accounting – Year 9 – 2019

Question 2

The following transactions relate to the month of March 2019.

2019
March 1  Balances brought forward from the previous month:
Cash €680, Bank Overdraft €183.
March 5  Cash purchases €400.
March 9  The following paid the business their accounts by cheque in each
case deducting 4% discount; T. Bartolo €850, C. Cole €900.
March 11  J. Borg lent the business €1,800 paying by cheque.
March 13  Business owner deposited €1,500 in the business bank account
from his personal savings.
March 15  Bought fixtures paying by cheque €3,000.
March 19  The business overpaid its telephone bill by €40 and received a
refund by cheque.
March 20  The business paid the account of A. Attard €680 by cheque and
received a discount of 5%.
March 22  Paid rent by cheque €480.
March 24  Cash withdrawn from the bank €350 for business use.
March 30  Paid electricity by cheque €185.

From the above transactions:

a. Write up a three-column Cashbook for the month of March 2019;
b. Balance off at the end of March 2019 and
c. Show the Discount Allowed Account and Discount Received Account as they
would appear in the general ledger.

[Total for Question 2: 25 marks]

Accounting – Year 9 – 2019 Page 7 of 8

Question 3

The following is a trial balance drawn from the books of Jessica Bugeja, a sole trader,
as at 31 March 2019.

Debit Credit
€ €
Bank Overdraft 6,800
Cash 2,000
Trade Payables 13,600
Trade Receivables 11,850
Sales Returns (Returns Inwards) 680
Purchases Returns (Returns Outwards) 535
Inventory as at 1 April 2018 8,630
Purchases 175,860
Sales 280,325
Discount Allowed 1,000
Discount Received 960
Water and Electricity 2,640
Rent 1,500
General Expenses 3,600
Carriage Inwards 1,583
Carriage Outwards 1,382
Motor Vehicles 45,000
Premises 150,000
Drawings 30,000
Capital as at 1 April 2018 149,158
Insurance 1,488
Communication Expenses 2,100
Commission Paid 582
Sundry Expenses 483
Wages 11,680
Commission Received 680
452,058 452,058

Inventory at 31 March 2019 was valued at €9,354.

Required:
a. Prepare the Statement of Profit or Loss for the year ended 31 March 2019.
(22 marks)

b. Calculate the Working Capital of the business as on 31 March 2019. (3 marks)

[Total for Question 3: 25 marks]

End of Paper

Page 8 of 8 Accounting – Year 9 – 2019