MOPANI WEST DISTRICT

ECONOMIC AND MANAGEMENT SCIENCES

GRADE 8
DISTRICT EXAMINATION
PAPER 1: FINANCIAL LITERACY
November 2022
Marks: 50 Time: 60 minutes

BLOOM’S TAXONOMY AND MARKING GUIDELINES:

BLOOM’S TAXONOMY
QUESTION COGNITIVE LEVELS
NO. LOWER ORDER MIDDLE ORDER HIGHER ORDER
1 7 5 3
2 3 12 2
3 3 5 3
4 1 4 2
TOTAL 14 26 10
REQUIRED % 30% 50% 20%
ACTUAL % 28% 52% 20%

1
Question 1:
1.1 C
1.2 B
1.3 A
1.4 A
1.5 D TOTAL Question 1.1: (5 x1=5)
Question 1.2:
1.2.1 C 
1.2.2 E 
1.2.3 D 
1.2.4 A 
1.2.5 B  TOTAL Question 1.2: (5 x1=5)
Question 1.3:

1.3.1 False 
1.3.2 True 
1.3.3 True 
1.3.4 True 
1.3.5 True 
TOTAL Question 1.3: (5 x1=5)

2
3
SECTION B: FINANCIAL LITERACY [35 MARKS]

QUESTION 2.1.1: JOURNALS: CRJ AND CPJ

1.1.1. Cash Receipts Journal of Alpha Accountants – October 2022 CRJ9

Doc Day Details Fol Analysis of Bank Current Sundry Accounts
No. receipts income Amount Fol Details

095 02 M. Alpha 45 000 45 000 Capital 

CRR 09 Cash 8 950 8 950 8 950
096 15 P. Paulsen 2 200 2 200 2 200 Rent income 
CRR 29 Cash 9 050 9 050 9 050
65 200 18 000 47 200
(9)

2.1.2. Cash Payments Journal of Alpha Accountants – October 2022 CPJ9

Doc Day Beneficiary Fol Bank Stationery Sundry Accounts
No. Amount Fol Details

EFT 04 The Council 1 250 1 250 Water and Electricity 

EFT 11 Farmer Furniture 4 500 4 500 Equipment 
EFT 22 M. Alpha 3 120 3 120 Drawings 
EFT 30 Top Books 985 985
9 855 985 8 870
(8)

4
 QUESTION 3: GENERAL LEDGER

GENERAL LEDGER OF TOP PLUMBERS FOR OCTOBER 2022

BALANCE SHEET ACCOUNTS SECTION

3.1.1. BANK B4
Date Details Fol Amount Date Details Fol Amount
2022 2022
Oct 1 Balance b/f 11 500 Oct 31 Total Payments  CPJ2 12 425
31 Total Receipts CRJ2 49 110 31 Balance c/o 48 185
60 610 60 610

Nov 1 Balance b/f 48 185

(7)

3.1.2. Accounting Equation

19 Aug 2022: Bought trading stock on credit R5 000.

Day Source Document Assets Owner’s Equity Liabilities

E.g.14 EFT -500 -500 0

19 EFT -5 000 0 -5 000

(4)

5
QUESTION 4: TRIAL BALANCE

4.1. TRIAL BALANCE OF RIKA’S SALON ON 30 SEPTEMBER 2022

FOLIO DEBIT CREDIT

BALANCE SHEET ACCOUNTS SECTION:
4.1.1.
Capital B1 45 000
Land and Buildings B2 48 000
Equipment B3 9 500
Bank B4 21 540
4.1.2. Cash Float B5 1 000
Loan B6 10 000

4.1.6. NOMINAL ACCOUNTS SECTION:

4.1.5.N1
Current income  19 500
Material cost N2 2 000
Rent income N3 6 500
Telephone N4 650
Water and Electricity N5 4.1.4. 550
Commission income N6 2 200
Stationery N7 280
Interest income N8 320

4.1.3.
83 520 83 520
(7)

TOTAL OF SECTION B: [35]

GRAND TOTAL: [50]