ACCOUNTING

GRADE 10

CNTROLLED TEST 1

MARCH 2025

MARKING GUIDELINE
MARKS: 100
MARKING PRINCIPLES:
1. Unless otherwise stated in the marking guidelines, penalties for foreign items are applied only if the
candidate is not losing marks elsewhere in the question for that item (no penalty for misplaced item). No
double penalty applied.
2. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is earning
marks on the figures for that item.
3. Unless otherwise stated, give full marks for correct answer. If answer is incorrect, mark workings.
4. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for that figure
(not the method mark for the answer). Note: if figures are stipulated in memo for components of workings,
these do not carry the method mark for final answer as well.
5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the
mark. If no + or – sign or bracket is provided, assume that the figure is positive.
6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers from
candidates.
7. If candidates provide more that the required number of responses, inspect all responses to give benefit to
the candidate. Penalties may be applied for foreign entries if candidates earn full marks on a question
(max -2 per Q).
8. This memorandum is not for public distribution as certain items might imply incorrect treatment. The
adjustments made are due to nuances in certain questions.
9. Where penalties are applied, the marks for that section of the question cannot be a final negative.
10. Where method marks are awarded for operation, marker must inspect reasonableness of answer.
11. Operation means 'check operation'. 'One part correct' means operation and one part correct. Note: check
operation must be +, -, x, ÷, or per memo.
12. In calculations, do not award marks for workings if numerator & denominator are swapped – this also
applies to ratios.
13. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at
least in part. Indicate with a .
14. Be aware of candidates who provide valid alternatives beyond the marking guideline. Note that one
comment could contain different aspects.
15. Codes: f = foreign item; p = placement/presentation.

This marking guideline consists of 6 pages.

Grade 10 Accounting 2 March 2025

QUESTION 1

1.1 Write the GAAP principles that is applicable for each of the following
situations.
1.1.1 Matching principle 
1.1.2 Historical Cost principle 
1.1.3 Going concern principle 
1.1.4 Business entity principle 
1.1.5 Materiality 
5
1.2

No General Ledger Assets Owners’ Liabilities

Account Dr Account Cr Equity
1.2.1 Bank  Interest on fixed + 1000 + 1000 0
deposit 

1.2.2 Cost of sales  Trading Stock  -1 800  -1 800 0

Bank  Sales  + 2 700  + 2 700 

1.2.3 Bank  Rent Income  +10 000 + 10 000 0

1.2.4 Creditors Control  Stationery  0 + 500  -500 

20
Grade 10 Accounting 3 March 2025

QUESTION 2
CASH RECEIPTS JOURNAL OF ALFRED STORES – FEBRUARY 2025
Analysis Cost of Debtors control Sundry accoounts
Doc Day Details Bank Sales
of receipts sales
Receipts Discount Amount Details
1 1 T Kapela 95 000 95 000* Capital
CRR 8 Sales 7 290 7 290 7 290 4 050
2 12 P. Mangena 1 860 1 860 90
CRR 19 Sales 7 110 7 110 7 110 3 950
BS 28 T. Qwakho 8 250 8 250* Rent income

119 510
* both

14
Grade 10 Accounting 4 March 2025

CASH PAYMENTS JOURNAL OF ALFRED STORES – FEBRUARY 2025

Consu- Creditors control Sundry accounts
Trading Statio-
Doc Day Details Bank Wages mable
stock nery stores Payment Discount Amount Details
1 2 Congo Traders 6 475 3 950 1 650 875
BS 9 Cash 13 200 13 200
2 14 Mbengo Traders 12 670 8 600 775 3 295* Equipment
3 20 Cash 5 200 5 200* Drawings
BS 22 Cash 3 300 3 300
4 26 Ndzo East Stores 21 798 21 798 2 422
5 27 TNB Bank 75 000 75 000* Loan: Quick bank
B/S 28 Agric Bank 550 490* Bank charges
Interest on bank
60*
overdraft

123018

* both

17
Grade 10 Accounting 5 March 2025

CREDITORS LEDGER OF ALFRED STORES

NDZO EAST
Date Details Folio Debit Credit Balance
Feb 17 Invoice no 230 CJ 10 900 10 900
24 Invoice no 265 CJ 13 320 24 220
26 EFT CPJ 21 798 2 422
Discount Received CPJ 24 22 -

10

2.2 Explain TWO internal controls a business should have in place when dealing with creditors.
 
• Keep accurate record Ensure all purchases and payments are recorded correctly to avoid
errors.
• Authorisation of payments – all payments to creditors should be approved by a senior
employee to prevent fraud or incorrect payments.
• Regular reconciliation – compare creditor statements with the company’s records monthly to
identify and correct any discrepancies.

Responses for 1 mark.

Regular checks and proper authorisation. 4
 Accounting - Grade 10 6 March 2025

GENERAL LEDGER OF IRMA TRADERS

3.1.1 TRADING STOCK ACCOUNT
2025 2025 Cost of sales
Jan 1 Balance b/d 30 000 Jan 31 CRJ 9 320

Cost of
31 Bank  CPJ 15 690 DJ 25 800
sales
Creditors
CJ 9 250 Balance c/d 4 264
control 
Cost of sales DAJ
244


both 
65 184 totals
65 184
Feb 1 Balance b/d 4 264
15

3.1.2 DEBTORS CONTROL ACCOUNT

2025 2025
Jan
1 Balance b/d 15 800 Jan
31 Bank  CRJ 8 340
Discount
31 Sales  DJ 13 980 CRJ 200
allowed 
Debtors
DAJ 432
allowance 
same
as b/d Balance c/d 20 808
both 
29 780 totals 29 780
Feb 1 Balance b/d 20 808

12

3.2
Calculate the mark-up percentage
38 700 – 25 800

12 900 x 100 = 50 % 
25 800 

TOTAL MARKS

100