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4.1.2 Labor = (1)

3.9 When the business wants to deposit its cash in the bank at the end of the day, a bank deposit slip/invoice must be completed. (1)

GRADE 8 EMS TERM 2 JUNE EXAM   INSTRUCTIONS:     Answer ALL the questions in Canvas.     Section C is a PDF UPLOAD question.     The answers you provide to the question paper must be your own original work. No copying from any source will be allowed. No marks will be awarded for work copied.     Read all the questions carefully.     Use the mark allocation as a guideline for the amount of information required in the answer.     You can use a calculator if needed.  

3.2 Bicycles in a bicycle shop are considered consumer goods/trading stock. (1)

4.1.4 Entrepreneurship = (1)

2.3 Pretoria’s metro is the City of Tshwane. (1)

  Section C: Accounting [50]   Question 6: Subsidiary Journals The following information was obtained from the accounting records of JANSON SERVICES for June 2020. The business does coaching children to improve eye-hand coordination.   Complete the cash receipts and cash payments journal on the answer sheet and upload it as a PDF.   Transactions for June 2020: (42) 1 The owner, Petri Janson, increases his capital contribution by R300 000 by making a direct transfer to the business bank account.     Issue receipt no. 50 out for R40 000 to Menlo Primary School where coaching is offered.   2 EFO R8 000 to Pretor Rent for the monthly rent.   6 EFO R3 400 to Toyota for repairs to the company’s vehicle.   7 EFO R8 500 to No Limits for the purchase of machines.   8 Withdraw cash to pay the three assistant coaches’ weekly salaries of R1 000 each.   9 EFO R1 300 to the Municipality for the water and electricity.   11 Receive R18 000 cash for coaching children.   14 A receipt was issued for R800 to LM Services for office space that they rent from the business.     Services rendered in cash for the day amount to R21 400.   15 Withdraw cash R3 200; for stationery R200, and to pay weekly wages of R3 000.   18 EFO purchased R8 000 from Makro for equipment.   20 EFO R800 to Record for an advertisement.   22 Withdraw cash to pay the weekly wages of R3 300.   23 Make an electronic transfer of R300 to send flowers to the owner’s wife.   25 EFO R1 800 to Carefree Insurers for the monthly insurance.   27 Receive a donation of R5 000 from Menlopark Wholesale to help needy children get coaching.   29 EFO R800 to MTN to pay the cell phone bill.   30 ABSA increased the bank account of the business by R289 interest on the current bank account.     Services rendered in cash for the day amount to R32 800.           CLICK HERE TO OPEN THE TRANSACTIONS IN A NEW TAB:        

     Section A: Short questions     Question 1 [10]   Match the correct description in Column B with the matching terms in Column A.        

  Question 5: Markets [10] 5.1 Read through the scenarios and identify the buyers and sellers.   5.1.1 Marcell bakes cupcakes. She brings it to school to sell breaks. Her fellow students pay R10 per cupcake and Marcell earns R120 per batter.  (2)

  Question 3 [10]   Select the correct option.