GROOTFONTEIN SECONDARY SCHOOL

ACCOUNTING PROJECT
Name……………………………………………………… Grade 8……………..
Date……………………………………………………….. Marks: 40

Question 1

On the 24th June 2018, Mr S.Mukena,the owner of the business deposited

N$ 150 000 cash as his capital contribution, Receipt 017 was issued.

(a) Complete the receipt using the given information. [8}

(b) In which book of first entry can we record the information in the receipt
above? [1]
…………………………………………………………………………………………
…………………………………………………………………………………………
(c) Identify the two accounts affected by the transaction above. [2]
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
Question 2
The following source documents appears in the books of Kanutus Beauty Products.

(a) Identify the source documents above:

Source document 1…………………………………………………..[1]
Source document 2…………………………………………………..[1]
Source document 3…………………………………………………..[1]

(b) Construct a transaction applicable to each of the source documents as it

would appear in the books of Kanutus Beauty Products. [6]
Transactions:
Source document 1……………………………………………………………….
............................................................................................................................
............................................................................................................................
............................................................................................................................
Source document 2………………………………………………………………….
............................................................................................................................
............................................................................................................................
 Source document 3………………………………………………………………....
…………………………………………………………………………………………
…………………………………………………………………………………………
………………………………………………………………………………………….
(c) Show the effects of the transactions you constructed on the accounting
equation. [6]

Assets Owner’s Liabilities

equity
Source document 1
Source document 2
Source document 3

(d) Indicate the account to be debited and the account to be credited in each
transaction. [6]

Account to be Account to be
debited credited

Source document 1

Source document 2

Source document 3

(e) Record the transactions you constructed in (b) in the Cash Book of Kanutus
Beauty Products. [8]
Cash Book of Kanutus Beauty Products – September 2014

Date Receipts/Details Fol Cash Bank Date Payments/Detail Fol Cash Bank
s