MEMORANDUM -TEST 2 2024
QUESTION 1 (15)
General ledger of ABBA Traders
Dr Supplementary bank account Cr
Balance b/d 7 265 Rent 10000
Interest received 150 Insurance 1 200
Debtors/ R Ramposa 6 000 Bank charges 260
Creditors/ W 495
Williams
Balance c/d 2 450
13 910 13
910
Balance b/d P2 450
2.
BANK RECONCILIATION STATEMENT
Debit Credit
R R
Balance according to bank 6 200
statement
Credit outstanding deposits 7 000
Debit outstanding payments (R800 800
+ R450 + R1 500 = R2 750) mark 450
here if only the total is shown in the 1 500
debit column.
Debit error ACCA 6 000
P2 450
Balance according to bank account
11 200 13 200
NOTE: There was an error on the question paper, the R6 000 in the bank
account was supposed to be R8 000 hence the BRS does not balance.
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QUESTION 2 (27)
General journal of Malamulele Hardware Traders
DA DETAILS DEBIT CREDIT
TE
1 Trading Inventory (700*R110) 77 000
Bank 77 000
Goods bought for cash
3 Bank 660
Trading Inventory (6*R110) 660
Damaged goods bought for cash returned
5 Debtors/Trade/Account receivables 42 900√
Sales (130/100 x R33 000) 42 900
Goods sold on credit
Cost of Sales 33 000
Trading Inventory (R110 x 300)) 33 000
Cost of goods sold brought into account
8 Trading Inventory 110 000
Trade Creditors/ Account Payables 110 000
Goods bought on credit
10 Sales Returns/ Debtors allowances 1 144
Debtors/Trade/Account receivables 1 144
Goods returned by a debtor
Trading Inventory 880√
Cost of Sales (R1 144*100/130) 880
Cost of goods returned brought into account
15 Trading Inventory 7 840
Trade Creditors/ Account Payables 7 840
Carriage on purchases still owing
28 Bank 66 000
Sales 66 000
Goods sold for cash
Cost of Sales 52 800√
Trading Inventory (R66 000*80/100) 52 800
Cost of goods sold brought into account
30 Drawings (4 x 110) 440
Trading inventory 440
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The owner took goods for own use
2.Cost of bags returned= R 1 144 x 100/130= R880/110= 8 bags
QUESTION 3 (13)
General journal of Malamulele Hardware Traders
DATE DETAILS DEBIT CREDIT
1 Purchases (700*R110) 77 000
Bank 77 000
Goods bought for cash
3 Bank (6*R110) 660
Purchases returns/ Purchases 660
Damaged goods bought for cash
returned
6 Debtors/Trade/account receivables ˄ 49 500
Sales ˄ 49 500
Goods sold on credit
10 Purchases 110 000
Trade Creditors/ Account Payables 110 000
Goods bought on credit
15 Sales Returns/ Debtors allowances ˄ 1 200
Debtors/Trade/account receivables ˄ 1 200
Goods returned by a debtor
20 Carriage on Purchases 7 840
Trade Creditors/ Account Payables 7 840
Paid for carriage
29 Bank ˄ 66 000
Sales ˄ 66 000
Goods sold for cash
Please award 2 free marks on the final mark to all the students who
have included the narrations.
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QUESTION 3 (15)
1. R9 000
2. R3 000
3. R1 050
4. R8 050
5. R3 600
6. R6 000
7. 17%
8. R 450
9. R3 450
10. R 209
11. R 261
12. R 39
13. R1 000
14. R1 300
15. R1 495
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