CLARENDON HIGH SCHOOL

GRADE 8 EMS
JUNE 2023 MEMO

SECTION A SECTION B TOTAL

50 50 100

SECTION A:
QUESTION 1

1.1.1 D✓✓
1.1.2 D✓✓
1.1.3 B✓✓
1.1.4 C✓✓
1.1.5 C✓✓
5X2 /10

1.2.1 C✓✓
1.2.2 E✓✓
1.2.3 A✓✓
1.2.4 B✓✓
1.2.5 D✓✓
5X2 /10

QUESTION 2
2.1 (5)
2.1.1 Factors of Production✓
2.1.2 Rent✓
2.1.3 Labour✓
2.1.4 Capital✓
2.1.5 Entrepreneur✓

2.2 Unskilled✓ (2)

Farmworker✓ OR Domestic Worker✓
2.3 National Minimum Wage Act✓ (1)
2.4 Skilled✓ The farm owner has a high level of expertise and/or (2)
possibly a high level of education✓
2.5 True✓ (1)

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2.6 “Farmworkers continue to be abused by farm owners, working (2)
long hours in bad weather conditions” ✓✓

2.7 National ✓ (1)

2.8 R27.40 per hour✓ (1)

QUESTION 3
3.1 A market is a “place” where people who buy and people who sell, (2)
exchange ✓ goods and services in economic transactions. ✓

3.2 (5)

3.2.1 Borrowed Capital✓ (1)

3.2.2 Goods and services✓ (1)

3.2.3 Capital market✓ (1)

3.2.4 Retail✓ (1)

3.2.5 International market✓ (1)

3.3 (8)
Resource Factor of Production

Maize crops Land✓ / Natural resources

Nike factory owner Entrepreneurship✓

Styling assistant in a hair studio Labour✓

Equipment for an electrician Capital✓

Ovens in a bakery Capital✓

Cashier at a supermarket Labour✓

Loan from a bank Capital✓

Henry Ford Entrepreneurship✓

TOTAL SECTION A: 50 MARKS

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 SECTION B:
QUESTION 4
4.1) 4.2) 4.2.1 C✓
4.1.1 F✓ 4.2.2 D✓
4.1.2 F✓ 4.2.3 A✓
4.1.3 T✓ 4.2.4 B✓
4.1.4 T✓ 4.2.5 F✓
4.1.5 F✓
5X1 /5 5X1 /5

QUESTION 5 /10
No. ASSETS OWNER’S EQUITY
Effect Reason Effect Reason
1 +3 500 ✓ Equipment increase
-3 500 ✓ Bank decrease
2 +200 ✓ Bank increase +200 ✓ Current income
3 -365 ✓ Bank decrease -365 ✓ Material cost expense
4 -150 ✓ Bank decrease -150 ✓ Stationery expense
5 +6 500 ✓ Bank increase +6 500 ✓ Rent income

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 QUESTION 6
6.1 CASH RECEIPTS JOURNAL
CASH RECEIPTS JOURNAL OF Styles Hair Studio – MAY 2022 CRJ
Doc Day Details Analysis of Bank Current Sundry Accounts
No Receipts Income Amount Details
R34 BS 3 ✓ 40 000 40 000 Capital (✓)
Harry Styles
CRR Services rendered 870✓ 870✓ 870✓
CRR 17 Services rendered 600✓ 600✓ 600✓
CRR 30 Services rendered 1 450✓ 1 450✓
R35 J Clarkson 5 500✓ 6 950(✓) 5 500 Rent income✓
✓ ✓ ✓ Underlined /16
6.2 CASH PAYMENTS JOURNAL
CASH PAYMENTS JOURNAL OF Styles Hair Studio – MAY 2022 CPJ
Doc Day Name of payee Bank Material Wages Sundry Accounts
No Cost Amount Details
EFT 2 BCM 5 320✓ 3 800 ✓Rates and taxes
1 520 (✓)Water and electricity
TS 11 Cash 1 500✓ 1 500✓
TS 15 Tresseme 3 340✓ 3 340✓
EFT 19 Seat Comfort 2 500✓ 2 500 ✓Equipment
EFT 21 KeepITSafe 1 300(✓) 984 ✓Insurance
316 ✓Drawings
✓ ✓ /14

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