P.T.O.GAUTENG DEPARTMENT OF EDUCATIONPREPARATORY EXAMINATION201810710ACCOUNTINGTIME:3 hoursMARKS: 30025pages
ACCOUNTING10710 / 182P.T.O.GAUTENG DEPARTMENT OF EDUCATIONPREPARATORY EXAMINATION – 2018ACCOUNTINGTIME:3 hoursMARKS:300INSTRUCTIONS AND INFORMATIONRead the following instructions carefully and follow them precisely.1.Answer ALL the questions.2.A special ANSWER BOOK is provided in which to answer ALL the questions.3.Show ALL workings in order to earn part-marks.4.You may use a non-programmable calculator.5.You may use a dark pencil or blue / black ink to answer the questions.6.Where applicable, show all calculations to ONE decimal point.7.Write neatly and legibly.
ACCOUNTING10710 / 183P.T.O.8.Use the information in the table below as a guide when answering the question paper.Try NOT to deviate from it.QUESTION 1:35 marks;20 minutesTopic of the question:This question integrates:ReconciliationFinancial accountingBank and Creditors’ ReconciliationManaging resourcesInternal control processesEthicsQUESTION 2:40 marks;25 minutesTopic of the question:This question integrates:ManufacturingManagerial accountingConceptsProduction Cost StatementBreak-even AnalysisQUESTION 3:80 marks;40 minutesTopic of the question:This question integrates:Company FinancialStatements and Audit ReportFinancial accountingConceptsIncome StatementManaging resourcesTangible assetsManaging resourcesAudit ReportQUESTION 4:65 marks;45 minutesTopic of the question:This question integrates:Cash Flow Statement andInterpretationFinancial accountingConceptsCash Flow StatementInterpretation of financial informationManaging resourcesInternal controlQUESTION 5:40 marks;25 minutesTopic of the question:This question integrates:Inventory valuationManaging ResourcesInventory valuationInternal controlQUESTION 6:40 marks;25 minutesTopic of the question:This question integrates:VAT and BudgetsFinancial AccountingVATManagerial AccountingCash BudgetCalculationsManaging resourcesInternal control processes and Ethics
ACCOUNTING10710 / 184P.T.O.QUESTION 1RECONCILIATION(35 marks; 20 minutes)1.1You are provided with information related to SA Traders.REQUIRED:1.1.1Calculate:•The correct totals for the Cash Receipts Journal (CRJ) and the CashPayments Journal (CPJ) for July 2018•The bank account balance in the General Ledger on 31 July 2018(15)1.1.2Prepare the Bank Reconciliation Statement on 31 July 2018.(6)1.1.3Internal control of cash is lacking in SA Traders.Identify TWO problemsand provide suitable advice to improve internal control.(4)INFORMATION:A.The following items appeared in theBank Reconciliation Statementon 30 June 2018:Unfavourable balance on the bank statement17 82893 140Outstanding deposit (1 March 2018)70 000Outstanding deposit (25 June 2018)23 140Outstanding cheques and EFT:13 350No. 215 (12 January 2018)1 210No. 670 (25 June 2018)5 200No. 671 (2 September 2018)1 760EFT payment to Zimbali Suppliers5 180Balance as per Bank account in the General Ledger?