SEDIBENG WEST DISTRICT

GRADE 10

ACCCOUNTING

CONTROLLED TEST 3

ANSWER BOOK

SEPTEMBER 2022

SURNAME: _______________________________
NAME: __________________________________
CLASS: ________
DATE: ______________
SCHOOL: ________________________________

QUESTION MARKS MARKER MODERATOR

1 50

2 50

TOTAL 100

This answer book consists of 4 pages (including the cover page).

1
QUESTION 1

INCOME STATEMENT OF MBELE TRADERS FOR THE YEAR ENDED

30 June 2022
Sales (340 230
Cost of sales

Gross profit
Other operating income

Rent income

Gross operating income

Operating expenses

Salaries (82 500

Telephone (3 420

Operating profit
Interest income 6 000

Profit before interest expense

Net profit for the year

TOTAL MARKS

50

2
QUESTION 2 CONCEPTS, STATEMENT OF FINACIAL POSITION AND NOTES

2.1
2.1.1

2.1.2

2.1.3

2.1.4

2.1.5 5

2.2.1 PREPARE THE FOLLOWING NOTES TO THE BALANCE SHEET FOR THE YEAR
ENDED 29 FEBRUARY 2022:

FIXED ASSETS
Land and
Vehicles Equipment
Buildings
Carrying value at the
beginning
Cost price 53 000
Accumulated
(34 640)
Depreciation
Movement:

Addition at cost price 0

Depreciation
Carrying value at the
370 000
end
Cost price 370 000 320 000 53 000
Accumulated
depreciation 14

OWNERS EQUITY

3
2.2.2 BALANCE SHEET OF ZIKALALA TRADERS ON 29 FEBRUARY 2022

ASSETS
NON-CURRENT ASSETS
Fixed assets

CURRENT ASSETS

TOTAL ASSETS

EQUITY AND LIABILITIES

NON-CURRENT LIABILITIES

CURRENT LIABILITIES
Trade and other payables
(12 446

TOTAL EQUITY AND LIABILITIES 26

TOTAL MARKS

50