CURRICULUM FET

ACCOUNTING
MARKING GUIDELINE
TOPIC: TERM 1 TOPICS
DATE: 13 MAY – 10 JUNE 2023

BACK ON TRACK PROGRAMME

GRADE 10

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TOPIC 1: ACCOUNTING EQUATION & GENERAL LEDGER

Activity 1: Classification of accounts – Sole Trader

+ ASSETS - OWNERS EQUITY

- LIABILITIES +
- +
Non-current assets  Capital Non-current liabilities
 Tangible/Fixed assets  Drawings  Mortgage bond
 Land and Buildings Expense accounts Income accounts  Loans
 Vehicles  Cost of sales  Sales Current liabilities
 Equipment  Stationery  Current income  Creditors control
 Investments  Rent expense  Rent income  Bank overdraft
 Fixed deposits  Telephone  Discount received  Accrued expense
 Trading licence  Interest on current a/c  Income received in advance
 Interest on fixed
Current assets  Interest paid
deposit
 Trading inventory/stock  Discount allowed  Interest received
 Debtors control  Interest on overdraft  Bad debts recovered
 Bank  Bank charges
 Petty cash  Insurance
 Cash Float  Advertising
 Accrued expenses  Debtors’ allowances
 Prepaid expanses  Interest on loan
 Bad debts
 Trading stock deficit
 Depreciation

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Marking guideline to Baseline Assessment

GENERAL LEDGER ACCOUNTING EQUATION

Owners’
No. Account to be Debited Account to be Credited Assets = Liabilities
Equity +
Ex. Telephone Bank - 800 - 800 0
1. Bank Capital + 30 000 + 30 000 0
+ 500
2. Bank Debtors’ Control 0 0
- 500
3. Bank Sales + 6 440 + 6 440 0
Cost of sales Trading stock - 4 600 - 4 600 0
4. Creditors control Bank - 7 500 0 - 7 500
5. Wages Bank - 1 000 - 1 000 0
6. Debtors’ control Sales + 1 680 + 1 680 0
Cost of sales Trading stock - 1 200 - 1 200 0
7. Bank Rent income + 3 750 + 3 750 0
8. Trading stock Creditors’ control + 5 000 0 + 5 000
9. Stationery Creditors’ control 0 - 750 + 750

Activity 2:

Amoun
ACCOUNT TO BE DEBITED ACCOUNT TO BE DEBITED A O L
t
Debtors Control Sales 9 200 + + 0
Cost of Sales Trading Stock 4 600 - - 0
Bank Charges Bank 520 - - 0
Bank Interest Received 2 300 + + 0
Repairs Bank 5 700 - - 0
Stationery Bank 320 - - 0

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Activity 3:

GENERAL LEDGER ACCOUNTING EQUATION

No. Account to be Debited Account to be Credited Amount A= OE + L

Ex. Telephone Bank 800 - - 0

1. Trading stock Creditors’ control 3 500 + 0 +
2. Loan: Mighty Bank Bank 17 000 - 0 -
Interest on loan Bank 1 800 - - 0
3. Bank charges Bank 275 - - 0
Bank Interest on current a/c 40 + + 0
Insurance Bank 5 200 - - 0
4. Debtors’ allowances Debtors’ control 120 - -
+
5. Trading stock Bank 300 0 0
-
6. Bank Bad debts recovered 720 + +
7. Equipment Creditors control 15 000 + 0 +
Drawings Creditors control 5 000 0 - +

Activity 4:

DR TRADING STOCK ACCOUNT CR

2023 2023
Mar 1 Balance b/d 53 000 Mar 30 Cost of Sales CRJ 76 000
30 Bank CPJ 2 900 Cost of sales DJ 99 000

Creditors Control CJ 210 000 Creditors Control CAJ 14 250

Cost of Sales DAJ 16 300 Balance c/d 92 950
282 200 282 000
April 1 Balance b/d 92 950

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 Activity 5:

General ledger of Van Niekerk Sport Stores

Dr Trading stock Cr
2023 2023
April
1 Balance b/d 153 200 April
30 Cost of sales CRJ 90 125
30 Creditors control CJ 60 000 Cost of sales DJ 150 700
Bank CPJ 83 200 Creditors control CAJ 6 050
Stationery GJ 1 250 Drawings GJ 3 800
Cost of sales DAJ 10 125 Balance c/d 57 100
307 775 307 775
May 1 Balance b/d 57 100

Dr Debtors’ control Cr
2023 2023 Bank and discount
April
1 Balance b/d 102 500 April 30 CRJ 160 500
allowed
Debtors’
30 Sales DJ 241 120 DAJ 16 200
allowances
Journal debits GJ 200 Journal credits GJ 875
Balance c/d 166 245
343 820 343 820
May 1 Balance b/d 166 245

Dr Creditors’ control Cr
2023 Total/sundry 2023
April
30 DAJ 8 890 April 1 Balance b/d 140 500
returns
Total/sundry
Journal debits GJ 1 450 30 CJ 120 850
purchases
Bank and
CPJ 100 235 Journal credits GJ 2 700
discount received
Balance c/d 153 475
264 050 264 050
May 1 Balance b/d 153 475

Dr Stationery Cr

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2023 2023
April
1 Balance b/d 18 600 April 30 Trading stock GJ 1 250
30 Bank CPJ 9 025 Creditors control CAJ 620
Creditors control CJ 8 050 1 870
35 675

Dr Discount allowed
Cr
2023
April
1 Balance b/d 16 725
30 Debtors control CRJ 7 000
23 725

Activity 6:
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 General ledger of Topley Traders

Dr Trading stock
Cr
2023 2023
April
1 Balance b/d 102 500 April 30 Cost of sales CRJ 49 600
30 Creditors control CJ 50 300 Cost of sales DJ 42 100
Bank CPJ 68 960 Creditors control CAJ 850
Cost of sales DAJ 520 Balance c/d 129 730
222 280 222 230
May 1 Balance b/d 129 730

Dr Debtors’ control Cr
2023 2023 Bank and discount
April
1 Balance b/d 76 250 April 30 CRJ 64 680
allowed
Debtors’
30 Sales DJ 63 150 DAJ 780
allowances
Journal debits GJ 320 Journal credits GJ 1 350
Balance c/d 72 910
139 720 139 720
May 1 Balance b/d 72 910

Dr Creditors’ control Cr
2023 Bank and 2023
April
30 CPJ 47 500 April 1 Balance b/d 68 440
discount received
Total/sundry Total/sundry
CAJ 1 415 30 CJ 60 100
returns purchases
Journal debits GJ 365 Journal credits GJ 180
Balance c/d 79 440
128 720 128 720
May 1 Balance b/d 79 440

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 Dr Sales
Cr
2023
April
1 Balance b/d 213 225
30 Bank CRJ 74 400
Debtors control DJ 63 150
350 775

Dr Cost of sales Cr
2023 2023
April
1 Balance b/d 142 150 April 30 Trading stock DAJ 520
30 Trading stock CRJ 49 600
Trading stock DJ 42 100
233 850

Dr Debtors’ allowances Cr
2023
April
1 Balance b/d 8 300
30 Debtors control DAJ 780
9 080

Dr Stationery
Cr
2023 2023
April
1 Balance b/d 3 800 April 30 Creditors control CAJ 90
30 Bank CPJ 3 240
Creditors control CJ 7 350
14 390

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TOPIC 1: INFORMAL ASSESSMENT GUIDELINE

No.
Acc. debited Acc. credited Amount A O L

1. Trading stock  Creditor’s control  50 000 + 0 +

Debtor’s control  Sales  21 000 + + 0
2.
Cost of Sales  Trading stock 14 000  - - 0

3. Bank  Loan: VBS Bank  70 000 + 0 +

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Dr. General Ledger of Jozi Stores Cr.

Bank B4
May 1 Balance b/d 6 000 
31 Loan: VBS Bank CRJ 70 000 
 

Debtor’s control B6
May 1 Balance b/d 7 200 
31 Sales  DJ 21 000 


Trading stock B8
May 1 Balance b/d 8 000  May 1 Cost of Sales DJ 14 000 
 
31 Creditor’s

control CJ

50 000 

Creditor’s control B17

May 1 Balance b/d 10 400 
31 Trading stock  CJ 50 000 


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9
TOPIC 2: DEBTORS & CREDITORS RECONCILIATION

Baseline assessment: Marking guideline

1. Multiple choice
1.1 D
1.2 A
1.3 D
1.4 B
1.5 A
1.6 C

2.1 Debtor’s control

(i) Sales
(ii) GJ
(iii) Bank and discount allowed
(iv) DAJ

2.2.1 Why would the business give a debtor a discount?

When debtors settle their account on or before the due date as per their credit agreement.
Example: Within 30 or 60 days as per the credit agreement.

2.2.2 State if the statement below is true or false:

Interest is charged when a debtors account is overdue.

True

3.1 Creditors control

(i) CJ
(ii) 4 179
(iii) 4 090
(iv) CAJ
(v) GJ

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 Activity 7:

DR DEBTORS CONTROL ACCOUNT CR

Date Details F Amount Date Details F Amount
2023 2023 Bank and discounts (66 300 –
Apr 1 Balance b/d 45 300 Apr 30 660) CRJ 65 640
30 Sales Debtors allowances (3 200 +
(95 200 – 4 200) DJ 91 000 240) DAJ 3 440
Bank (insufficient CPJ 1 500 Journal credit
funds)( 1500) (900 + 540) GJ 1 440

Petty cash PCJ 45 Balance c/d 68 185

Journal debit
800 + 60 GJ 860
138 705 138 705
2023
May 1 Balance b/d 68 185

DEBTORS LIST DEBIT CREDIT

Luzeey (22 880 – 240) 22 640
Rebeey (18 000 + 60) 18 060
Yzeey (540 – 540) 0
Keneey (27 440 + 45) 27 485
Caleey (660) + 660 0
Balance/Total 68 185

Activity 8:

General Ledger of PGA Superstores

Dr Creditors’ control account Cr
Bank and
2023 2023
April
30 discount received CPJ 95 735 April 1 Balance b/d 140 500
(100 235 – 4 500)
Sundry returns Sundry purchases
CAJ 8 490 30 CJ 123 550
(8 890 – 400) (120 850 + 2 700)
Journal debits GJ 1 450 Journal credits GJ 3 500
Balance c/d 161 875
267 550 267 550
May 1 Balance b/d 161 875

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Creditors list on 30 April 2023
Creditor Debit Credit
Birdie Wholesalers (59 405 + 2 700) 62 105
Walker Suppliers (30 970 + 5 800 – 4 500) 32 270
Spieth Stores (46 050 + 1 200) 47 250
Fairway Traders (26 650 – 5 800 – 300 – 300) 20 250
Balance as per the Creditors Control account 161 875

TOPIC 2: INFORMAL ASSESSMENT GUIDELINE

QUESTION 1
1.1
No Debtor’s Control List of Debtors
Dr Cr Dr Cr
Balance 9 933 9 442
A 100 
B 95 
C 28  28 
(243+243)
D
486 
TOTAL 9 933  614  9 442  123 
BALANCE 9 319  9 319 

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1.2 The bookkeeper wants to improve the payment received from debtors. Name TWO
measures she can introduce to encourage the debtors to settle their accounts on
time.
Any TWO valid methods  
 Give discounts for early payments.
 Charge interest on overdue accounts.
 Send regular statements/reminders.
 Do not allow credit to overdue debtors / Only cash sales to overdue debtors.

(2)

1.3 Suggest THREE control measures that the bookkeeper can introduce to prevent the
debtor’s outstanding debt from being written off.
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 Any THREE valid methods   
 Customers need to complete application forms.
 Their credit status/reference/history needs to be checked/screened.
 Obtain the following information from customers before approving accounts:
o Salary advice slip / Proof of income
o Proof of residence / Address
o Contact details of family/friend
o Bank statement / Bank balance
o Identity document
o Email address

(3)

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QUESTION 2

No Creditor’s control account List of Creditors

Balance 16 740 19 260

2.1 +1 000 
2.2 - 100 
2.3 + 300 
2.4 + 1 760  + 1 760 
2.5 - 120 
(1600 + 1600)
2.6
- 3 200 

TOTAL 18 700  18 700 

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13
TOPIC 3: SALARY & WAGES

Activity 9

Year Annual increase Annual salary Monthly salary

2018 180 000 15 000
2019 12 000 192 000 16 000
2020 12 000 204 000 17 000
2021 18 000 222 000 18 500
2022 18 000 240 000 20 000

Activity 10

Monthly
Employee salaries Monthly PAYE deductions
EXAMPLE R130 000 R130 000-R80 000 = R50 000 X25%=R12 500 +
R14 400=R26 900
B Baloyi R195 000 R195 000-R180 000=R15 000 X 35% = R5 250 + 41 900 =
R47 150
S Smit R290 000 R290 000 – R230 000= R60 000 X 38% = R22 800 + R59
400 = R82 200
E Els R40 000 R40 000 X 18% = R7 200

Activity 11

Monthly medical aid

Employee Monthly gross salaries contribution
B Baloyi R94 000 - married with no other dependents R500
S Smit R25 000 – married with 2 children R500 +R50 +R50 = R600

Activity 12

UIF %
Employee Monthly salaries contribution Monthly UIF contribution
B Baloyi R9 400 1% R9,40
S Smit R9 050 1% R9,05

Activity 13

Employee Gross Monthly pension fund

salaries Deduction % contribution
B Baloyi R94 000 p.m. 5% of gross salary R7 050
S Smit R120 000 p.a. 8½% of gross salary 120 000 / 12 = 10 000 x8½%
= R850

R120 000 per annum (12 months)

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Baseline assessment: Marking guideline

1.1 F
1.2 D
1.3 E
1.4 B
1.5 G
1.6 C
1.7 A

Activity 14:

Calculate the net wages for week 1.

R40 000 – R7 600 = R32 400

Calculate the total UIF deductions for the month.

R400 + R500 + R500 + R500 = R1 900

Calculate:
Medical Aid Contribution
19 000× R2 = R38 000

Pension Fund Contribution

190 000× 15%= R28 500

UIF Contribution
38 000 + 28 500 + 1 900 = R68 400
Calculate the rate of the pension fund deduction.

18 000 225 000× 100 = 8%

Calculate the total cost to Lwethu Traders in terms of salaries and wages for
the month of March 2023.

190 000 + 68 400 + 225 000 + 49 750 = R533 150

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Activity 15:

15.1 Calculate her net salary

12 400 – (12 400 x 18%) – (12 400 x 1%) – 900

= 12 400 – 2 232 – 124 – 900

= R9 144

15.2 How much will it cost the company per month to employ Athrah (cost-to-
company)?

12 400 + 124 + (900 x 0,5) =

12 400 + 124 + 450

= R12 974

Activity 16:

16. Calculate the total net wage earned by Jim Cantlay for the week ended 27
1 January 2023. Show all your workings.

Gross Wage 11 400

Normal time (45 x R200) 9 000
Overtime (8 x R300) 2 400
Deductions (2 544)
Pension fund (9 000 x 8%) 720
PAYE 1 650
UIF (11 400 x 1%) 114
Medical aid 60
Net Wage 8 856

16.2 Calculate Jim Cantlay’s total cost to Tiger Suppliers for the week ended 27
January 2023.

Calculation:

11 400 + 1 080 + 114 + 50 + 40

(720 x 1.5)

Cost to company = R12 684

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16. Name the account to be debited and the account to be credited in the General
3 ledger for the contribution by the employer to the Pension fund.

Account debit: Pension fund contribution

Account credit Pension fund

16. What type of accounts are the following:

4
Creditors for wages Liability
Unemployment Insurance Fund (UIF) Liability

Medical aid fund contribution Expense

TOPIC 3: INFORMAL ASSESMENT MARKING GUIDELINE

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MARKING GUIDELINES
QUESTION 1
Column A Column B
1.1. H 
1.2 E 
1.3 D 
1.4 G 
1.5 B 
1.6 I 
1.7 J 
1.8 C 
1.9 F 
1.10 A 
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QUESTION 2

2.1 Calculate Deon’s net wages for the week. Show all workings.
Normal wages (40 x R130) 5 200 
Overtime pay (12 x R195) 1 170 
GROSS WAGES 6 370 
Deductions: (2 012) 
PAYE (R6 370 x 20%) 1 274 
Pension fund (R5 200 x 7.5%) 390 
Medical Aid 280 
UIF (R5 200 x 1%) 52 
Union fees 16 
NET WAGES 4 358 

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2.2 Calculate the employer’s contribution for the week.

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Pension contributions (R5 200 x 10%) 520
Medical Aid contributions (R280 x R1,50) 420 
UIF contributions (R5 200 x 1%) 52
Skills Development Levy (R5 200 x 1%) 52
TOTAL 1 044 
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2.3 Calculate the total amount that the business will submit to the Medical Aid
Fund on behalf of Deon Martin for the month of April 2023.
(4 weeks)
   
(280 + 420) x 4 = R2 800

2.4 Why would it not be possible to accurately estimate the total tax amount due
to SARS on behalf of Deon Martin?
 Overtime is part of taxable income 
 Overtime hours are not expected to be constant 

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