ECONOMIC AND MANAGEMENT SCIENCES

ACTIVITY BOOKLET

GRADE 9 – TERM 1

Page 1 of 41
TOPIC 1: ECONOMIC SYSTEMS
ACTIVITY 1:
1.1. Define the “Economic Problem”. (2)

1.2. There are 3 questions that will determine the economic system. List the 3 questions.
(3)
[5]
ACTIVITY 2

There are 3 types of economic systems. Each economic

systems has it own origin and characteristics.

2.1 Complete the following sentence by filling the missing words:

2.1.1 The father and founder of the Mixed Economic System was _________ (1)
2.1.2 His book “____________________” appeared in 1776 where he indicated
his support for a mixed economies and this specific system. (1)
2.1.3 Karl Marx and _________________ was big supporters of the _________
economic system. (2)
2.2 Complete the following table by including the characteristics of the different
economic systems. (11)

Characteristic Planned Economy Market Mixed Economy

Page 2 of 41
 Economy
Government control A No control Semi-control

Profit Motive No B Yes – the driving

force
Ownership of factors of C Private Private
production

Choice of occupation Decided by the D Usually a personal

government – trained choice
and educated
according to the needs
of the government
Allocation of resource Government Consumers E

Distribution of output F Goods and Markets operate

(goods and services) services are sold according to demand
on markets, and supply.
exchanged for Government has
money. certain license
requirements.
Prices Government has fixed Competition G
prices. checks prices

Decisions Central government H Individuals and

government

Private Enterprise/ I Can produce, buy J

Private Ownership and sell

Privatization None K Private and publicly

owned.

Page 3 of 41
TOPIC 2: CIRCULAR FLOW
ACTIVITY 1
MULTIPLE CHOICE
Choose the correct answer by writing down the correct letter in your answer book. E.g. 1. E
1.1 The factors of production in a circular flow are owned by…
a) Labour
b) Business
c) Households
d) Foreign (1)
1.2 Subsidies are provided by … to other participants.
a) Labour
b) Government
c) Households
d) Business (1)
1.3 The market for short-term loans and savings is known as … market.
a) Money
b) Capital
c) Factor
d) Goods (1)
1.4 The market where goods and services are traded is known as …
a) Factor market
b) Money market
c) Product market
d) Capital market (1)
1.5 An economy that has no foreign sector is known as
a) Open economy
b) Closed economy
c) Mixed economy
d) Capital economy (1)

Page 4 of 41
ACTIVITY 2
Choose a statement from A that matches the term in column B. Write only the letter next to the
question e.g., 2.1. G
Column A Column B Answers Marks
2.1 The flow of money within a circular flow. A Public goods (1)
2.2 The remuneration for labour. B Firms (1)
2.3 The flow of goods and services in a C Wages and (1)
circular flow. salaries
2.4 Goods and services such as health, D Circular flow (1)
education public transport.
2.5 The production of goods and services. E Real flow (1)

F Money flow (1)

ACTIVITY 3
Fill in the missing word. Write only the number and the missing word.
3.1 Households are … 3.1.1 of the factors of production. 3.1.2 … are buyers of factors of production
which are converted into finished goods and receive … 3.1.3 in return.
The government collects … 3.1.4 from both … 3.1.5 and … 3.1.6
3.2 Study the diagram below and answer the questions that follow:

3.2.1 What does the above diagram represent? (1)

3.2.2 Name one type of flow in the economy. (1)
3.2.3 Identify the participant labeled A in the above diagram. (1)
3.2.4 Describe the concept of a closed economy. (2)
3.2.5 Distinguish between factor market and product market. (4)
3.2.6 Briefly explain the interaction between households and (8)
businesses.

Page 5 of 41
 3.2.7 How does government contribute to the economy? (4)
3.3.Draw a fully labeled Circular Flow Diagram of a closed economy. (12)
3.4.How do households contribute to the economy? (8)
ACTIVITY 4
Indicate whether the following statements are TRUE or FALSE
4.1 In an open economy, there are no imports and exports. _______
4.2 Households receive an income from businesses. _______
4.3 the place where participants meet to buy goods and services are
known as the factor market. _______
ACTIVITY 5
Look at the pictures before answering the questions.
Picture A Picture B

Picture C Picture D

5.1 Identify the four factors of production: (8)

Picture A: ______________________________
Picture B: ______________________________
Picture C: ______________________________
Picture D: ______________________________

Page 6 of 41
5.2 Which one of the above-mentioned factors of production does households mostly provide to
businesses? ___________________________ (2)

ACTIVITY 6
6.1 Name the THREE main participants in the circular flow of a country. (3)
6.2. Discuss the role of the government in the circular flow of a country. (3x2)
6.3 Services delivered by the government are known as _____________ (1)
[10]
ACTIVITY 7
7.1 In your opinion, what would happen if government were to increase household tax substantially?
How would that impact consumer spending? (4)

7.2 Name three ways in which goods and services flow through the economy. (3)

______________________________________________________________

______________________________________________________________

______________________________________________________________
[7]

Page 7 of 41
TOPIC 3: TRADING BUSINESS
3.1 CALCULATION OF COST PRICE AND SELLING PRICE
ACTIVITY 1: ANSWER SHEET_CALCULATING COST OF SALES
Calculate the Cost of sales in each of the following:
No. Sales Mark-up% Calculations Cost of sales
1 R440 10% R400
2 R150 50% R100
3 R225 25% R180
4 R368 60% R230
5 R320 33⅓% R240

ACTIVITY 2: ANSWER SHEET_CALCULATING SALES

Calculate Sales in each of the following:
No. Cost Price Mark-up% Calculations Sales
1 R450 20% R540
2 R175 100% R350
3 R280 50% R420
4 R240 33⅓% R320
5 R75 66⅔% R125

ACTIVITY 3: ANSWER SHEET_CALCULATING PROFIT

Calculate Profit made in each of the following:
No. Cost Price Mark-up% Calculations Profit
1 R100 10% R10
2 R150 20% R30
3 R3 000 25% R750
4 R310 50% R155
5 R450 33,⅓ % R150
6 R270 66,⅔% R180
7 R1 750 100% R1 750

Page 8 of 41
ACTIVITY 4: COMBINED ACTIVITY:-CALCULATING THE MISSING AMOUNTS

Calculate the missing amounts:

Cost of Sales Mark-up Calculations Sales

R100 20% ?
R150 ? R300
? 30% R390
? 75% R840
R450 33⅓% ?
R600 ? R750

ACTIVITY 4: ANSWER SHEET:-COMBINED ACTIVITY_CALCULATING THE MISSING

AMOUNTS

Calculate the missing amounts:

Cost of Sales Mark-up Calculations Sales

R100 20%
R150 R300
30% R390
75% R840
R450 33⅓%
R600 R750

Page 9 of 41
3.2 TRADING BUSINESS: ACCOUNTING EQUATION
ACTIVITY 5: ANALYSING TRANSACTIONS
Analyse the transactions according to the answer sheets. The business sells goods with a profit
markup of 50% on cthe ost price.
TRANSACTIONS:
1. Purchased stock from Simon Wholesalers for R8 000, paid with an EFT.
2. Sold goods with a cost price of R500 to M Melby and issued an receipt.
3. Purchased equipment on credit from Heidi Traders for R9 000 and renumbered their invoice.
4. Sold stock for cash, R1 500.
5. Received cash from M Melby in settlement of her debt of R684.
6. Purchased packing material on credit from Howie Warehouse for R6 000.
7. Make an EFT to Howie Warehouse in full settlement of our debt.
8. The owner withdrew R1 800 cash from the ATM for personal use.

Page 10 of 41
 ACTIVITY 5: ANSWER SHEET
ANALYSING TRANSACTIONS

No ASSETS OWNERS’ EQUITY LIABILITIES

Effect Reason Effect Reason Effect Reason
1

Page 11 of 41
No ASSETS OWNERS’ EQUITY LIABILITIES
Effect Reason Effect Reason Effect Reason
6

Page 12 of 41
 ACTIVITY 6

Show the effect of the following transactions of Olympia Sport and Trade for
January 2021 on the Accounting Equation. The business is making use of a 20%
mark-up.

1. Ms. Winnings deposits R280 000 as capital contribution in the business’s

current bank account. Issue receipt 001.
4. Purchase display cabinets and shelves from Sporty Furniture and pay via
EFT, R24 800.
5. Purchase goods from Fitness Galore, R38 200, per internet.
8. Cash sales of merchandise, R24 000.
29. Pay Speed Insurance by debit order for the monthly insurance premium,
R830.

+ Dr ASSETS - Cr -Dr OWNERS EQUITY +Cr -Dr LIABILITIES +Cr

Day Effect Reason Effect Reason Effect Reason
1

29

ACTIVITY 7
Show the effect of the following transactions of Olympia Sport and Trade on the
Accounting Equation for February 2021. The business makes use of a 20% mark-
up.
1. Ms. Winnings deposited R50 000 as capital contribution into the bank
account. Issued a receipt.
4. Bought stock at Sport Warehouse for R9 600 and pay via the internet.
7. Drew cash to pay the following:
 Wages, R300
 Cash float, R300.
Bought packing material from Rowland Packers for R200 and paid via
internet.
8. Cash sales according to cash register roll, R4 800.
27. Olympia Winnings takes money for personal use, R500.

Page 13 of 41
 Day Source document Accounting equation
A OE L
1

27

ACTIVITY 8: Entering transactions in the Cash Receipt Journal

Month: January 2021

Complete the Cash Receipt Journal of Olympia Sport and Trade.
The business uses a mark-up of 50% on cost price.
Close off the journal.

Transactions:

1. The owner, Olympia Winnings, deposits R320 000 directly into the business
current bank account as her capital contribution. Issue receipt 001.

8. Cash sales according to cash register roll, R18 600.

15. Cash sales according to cash register roll, R9 900.

26. Cash sales of merchandise, R15 000.

28. Received a donation from Sport Development Centre worth R500.

Page 14 of 41
Cash Receipts Journal of CRJ 1
Doc Day Details Fol Analysis of Bank Sales Cost of Sundry accounts
receipts sales
Amount Fol Details

Page 15 of 41
ACTIVITY 9: Entering transactions in the Cash Receipt Journal

Date: ______________

Olympia Sport and Trade

Month: February 2021
Complete the Cash Receipt Journal of Olympia Sport and Trade.
The business uses a mark-up of 20% on cost price.
Close off the journal.

Transactions:

1. The owner deposits R280 000 as capital contribution in the business’s current
bank account. Issue receipt 003.

8. Cash sales of merchandise, R24 000.

18. Cash sales according to cash register roll, R18 800.

27. Cash sales according to cash register roll, R21 400.

30. Receive R1 000 from Mr. Speedy for renting part of the business building.

*REMEMBER:
Doc no – Receipt numbers in the Cash Receipt Journal will follow in
numerical order, the first receipt number is given as 003 therefore the
next will be 004 and so forth.

Page 16 of 41
Page 17 of 41
Cash Receipts Journal of Olympia Sport and Trade for February 2021 CRJ 2

Doc Day Details Fol Analysis of Bank Sales Cost of Sundry accounts
receipts sales Amount Fol Details

Page 18 of 41
ACTIVITY 10: Entering transactions in the Cash Payment Journal

Date: ______________

Olympia Sport and Trade

Month: January 2021
Complete the Cash Payment Journal of Olympia Sport and Trade.
Close off the journal.

Transactions:

3. Purchased another business property from Bou Traders and pay via EFT, R180 000.
4. Paid the City Council for the trading license, R1 800 with the business debit card.
6. Purchased merchandise from Verster Traders for R8 400 and paid per EFT.
Made one internet payment to MX Computers for the following:
 Computer and printer, R12 800
 Paper for the printer, R640.
7. Withdrew cash at the ATM to pay for the following:
 Wages, R1 460
 Cash float, R500.
10. It was decided to advertise in the local newspaper. Paid via the internet R2 300 to the
Oggendblad for advertisements for the following week.
13. Purchased goods from Samson Traders and pay with an electronic funds transfer, R21 400.
14. Withdrew cash to pay for wages, R1 460.
17. Paid Petunia Florists R200 to have flowers delivered to the owner’s mother, EFT.
21. Purchase pens, pencils and receipt books from NSA for R384.
23. Authorised an internet payment to pay the monthly telephone account to Telkom, R1 520.
24. Withdrew cash to pay the weekly wages, R1 280.
28. Purchased merchandise from Snow Traders and pay via EFT, R9 600.
30. Paid the secretary’s salary (K Botha) via the internet, R6 200.

Page 19 of 41
Cash Payments Journal of CPJ 1

Doc Day Name of payee Fol Bank Trading Wages Stationery Sundry accounts
stock Amount Fo Details
l

Page 20 of 41
ACTIVITY 11: Entering transactions in the Cash Payment Journal

Date: ______________

Olympia Sport and Trade

Month: February 2021

Complete the Cash Payment Journal of Olympia Sport and Trade.
Close off the journal.

Transactions:

2. Made a internet payment to the City Council for an additional trade licence,
R3 400.
4. Purchased display cabinets and shelves from Fouche Traders and paid via
EFT, R24 800.
5. Purchased goods from RSA Traders and paid per debit card, R38 200.
7. Authorised an internet payment to MAN Traders for the following:
 Cash register, R6 200
 Cash register rolls, R214.
Withdrew cash to pay for the weekly wages, R640.
9. Withdrew cash to begin a cash float, R800.
14. Paid SA Repairs R1 900 for repairs on Ms. Winnings’ private vehicle via EFT.
15. Purchased a delivery vehicle from Wespark Motors and paid via EFT,
R125 000.
17. Paid the weekly wages, R680.
20. Internet payment made to pay Sport Shoes for goods purchased, R22 200.
Paid Tip Top Properties for the rent for the building, R6 200.
23. Paid the monthly telephone account to Telkom for R1 890 with a cheque.
25. Draw a cash cheque to cover the weekly wages, R690.
29. Debit order to pay Speed Insurance for the monthly insurance premium,
R830.
30. Paid S Pillay his monthly salary, R8 380, via internet payment.

Page 21 of 41
Cash Payments Journal of Olympia Sport and Trade for February 2021 CPJ 2
Doc Day Name of payee Fol Bank Trading Equipment Wages Sundry accounts
stock Amount Fol Details

Page 22 of 41
ACTIVITY 12: Entering transactions in the CRJ and CPJ of a business.

Date: ______________

Olympia Sport and Trade

Month: March 2021

Complete the Cash Payment Journal and Cash Receive Journal of
Olympia Sport and Trade.
The business makes use of a 20% profit margin.
Close of the journals at the end of the month.

Transactions:

1. Ms. Winnings deposited R50 000 as capital contribution into the bank
account. Issued receipt 005.

3. Paid Moonlight Distributors for shelves to display merchandise, R3 500 via

EFT.

4. Bought stock at PS Wholesalers for R9 600 and pay via EFT.

5. Bought a cash register and a scanner from Star Traders for R4 800 and paid
with a debit card.

7. Withdrew cash to pay for the following:

 Wages, R300
 Cash float, R300.

Bought packing material from Rowland Packers for R200 and paid per
internet transfer.

8. Cash sales according to cash register roll, R4 800.

10. Bought merchandise from Petra Stores for R6 200 and pay with a EFT.

12. Bought stationery from SN Suppliers and paid R280 via EFT.

Page 23 of 41
14. A community lady, Meriam Gaubepe, makes sweatbands and asks Ms.
Winnings if she can sell it in the shop. Ms. Winnings agreed with Meriam to
charge her R200 per month to rent a section of the store. Received R200 from
Meriam for rent. Issued a receipt.

Cash sales according to cash register roll, R7 200.

15. Withdrew cash from the bank to pay wages, R300.

19. Paid the telephone account to Telkom via EFT, R560.

22. Ms. Winnings decided to advertise her shop in the local newspaper (Star
Papers). She made a payment of R420 for advertising costs.

25. Bought trading stock from Palatse Distributors and paid R8 900.
.
27. Ms. Winnings took money for personal use, R500 after cash was drawn from
the ATM.

29. Cash sales according to cash register roll, R12 000.

The local primary school (Dumela Primary School) asked for a donation.
Made an electronic funds transfer worth R400 as a donation.

Page 24 of 41
Cash Receipts Journal of Olympia Sport and Trade for March 2021 CRJ 3

Doc Day Details Fol Analysis of Bank Sales Cost of Sundry accounts
receipts sales Amount Fol Details

Page 25 of 41
Cash Payments Journal of Olympia Sport and Trade for March 2021. CPJ 3

Doc Day Name of payee Fol Bank Trading Equipment Wages Sundry accounts
stock Amount Fol Details

Page 26 of 41
ACTIVITY 13
You are provided with the transactions from the books of F.G Traders for the month of February
2023 Required.
4.1 Cash receipts journal with analysis columns for analysis of receipts, bank, sales, cost of
sales and sundry accounts.
(13)
4.2 Cash payments journal with analysis columns for bank, trading stock, wages and sundry
accounts.
(7)
NOTE: Do not close off the journals on 28 February 2023
Transactions for February 2023.
01 The owner F.G Khumalo, deposited R70 000 into the business bank account to increase his
capital. Issued receipt no.1
02 Bought trading stock from Makro for R7200 and paid Via EFT No.100.
03 Cash sales per register roll, R8240 (Profit Mark-up is 25%).
Received cash from a tenant B. Baloyi for rent, R4100. Issued receipt no.2 for the amount.
18 Paid wages Via EFT No. 101, R1600.
25 Electronically transferred R3050 to the Nkomazi Local Municipality for water and Electricity
Cash sales per register roll, R13 200 (Cash price, R5200)

Cash Receipts Journal of F.G Traders – 28 February 2023

Doc Da Details Analysis Bank Sales Cost of Sundry Account

no. y of Sales Amount Details
Receipts
R01 01

CRR 03

R02 18

CRR 25

(13)

Page 27 of 41
 Cash Payments Journal of F.G Traders –28 February 2023
Doc Day Name of Payer Bank Trading Wages Sundry Account
No stock Amount Details
EFT 02
100
EFT 18
100
B15 25

ACTIVITY 14: CASH JOURNALS

S. Tarr is the owner of the STAR TRADERS. The business uses a constant profit mark-up of 25%
on cost price.
REQUIRED
2.1.1. Record the transactions for January 2021 in the Cash Receipts Journal and Cash
Payments Journal.
2.1.2. Provide Analysis columns for:
CRJ 2: Analysis of receipts, Bank, Sales, Cost of sales and Sundry Accounts. (10)
CPJ 2: Bank, Trading stock, Wages, Packing material and Sundry Accounts. (10)
2.1.3. Do not close off the journals.

Transactions for January 2021

1 The owner, S. Tarr, deposited R600 000 into the current banking account to increase the
capital contribution. Issued receipt no. 51.

12 Draw cash from the OTM to pay wages, R2 800

Purchased packing material for R400 from Shereno’s Papers and paid by EFT.

18 Received cash as per CRT1 for trading stock sold, R32 000
Received a proof of payment from Thabo’s Electrical for rent for the month, R12 000. Issued
receipt no. 52.

25 Purchased Trading Stock from Moovers Stores for R24 000. Pay with a debit card.
Authorised an internet payment to Vodacom to pay the cell phone accounts for the
business R650 and for the owner, R840

Page 28 of 41
 Cash Receipts Journal of STARR Traders for January 2021

Doc Da Details Analysis Bank Sales Cost of Sundry Account

no. y of Sales Amount Details
Receipts

(13)
Cash Payments Journal of STARR Traders for January 2021
Doc Day Name of Payer Bank Trading Wages Sundry Account
No stock Amount Details

ACTIVITY 15: CASH JOURNALS

Record the following transactions in the Cash Receipts Journal and Cash Payments Journal of
Happy
Traders for the month of March 2023.
Do not close the journals off.
The business uses a 50% mark up on the cost price.
Transactions
1 The owner J. Happy started business and deposited R100 000 cash directly into the bank account o
3 Bought trading stock from Brookes Traders for R5 000 by EFT.
9 Sold goods for cash to customers, R3 000. (CRR)
15 The owner withdrew R3 000 cash to pay for his wife’s birthday present.
20 Paid wages in cash R1 500 after money was withdrew at the ATM.
21 Sold goods for R4 500 (cost price ) cash
Page 29 of 41
 Received R2 000 from a tenant John for renting part of the building. Issue receipt 67.
31 Receive bank statement from Value Bank, bank charges, R100, interest received, R150.

Cash Receipts Journal of Happy Traders for March 2023

Doc Da Details Analysis Bank Sales Cost of Sundry Account

no. y of Sales Amount Details
Receipts

Cash Payments Journal of Happy Traders for March 2023

Doc Day Name of Payer Bank Trading Wages Sundry Account
No stock Amount Details

Page 30 of 41
ACTIVITY 16: General Ledger and Trial Balance
Post the CRJ and CPJ of Olympia Sport and Trade to the General ledger.
Balance the accounts at the end of the month.
Prepare a Trial Balance on 28 February 2021.

Cash Receipts Journal of Olympia Sport and Trade for February 2021 CRJ 2
Doc Day Details Fol Analysis Bank Sales Cost Sundry accounts
of of Amount Fol Details
receipts sales
001 1 O.Winnings 280 280 000 Capital
000
CRR 8 Sales 24 000 24 000 24 000 18 000
CRR 18 Sales 18 800 18 800 18 800 14 100
CRR 27 Sales 21 400 21 400 21 400 16 050
- 344 64 200 48 150 280 000
200

Cash Payments Journal of Olympia Sport and Trade for February 2021 CPJ 2
Doc Day Name of Fol Bank Trading Equipment Wages Sundry accounts
payee stock Amount Fol Details
015 2 City Council 3 400 3 400 Trading
licence
016 4 Fouche 24 24 800
Traders 800
017 5 RSA 38 38 200
Traders 200
018 7 MAN 6 414 6 200 214 Stationery
Traders
019 Cash 640 640
020 9 Cash 800 800 Cash float
021 14 SA Repairs 1 900 1 900 Drawings
022 15 Wespark 125 125 Vehicles
Motors 000 000
023 17 Cash 680 680
024 20 Shoe 22 22 200
Outfitters 200
025 Tip Top 6 200 6 200 Rent
Properties expense
026 23 Telkom 1 890 1 890 Telephone
027 25 Cash 690 690
028 28 Speed 830 830 Insurance
Insurance
029 28 S Pillay 8 380 8 380 Salaries
242 60 400 31 000 2 010 148
024 614

Page 31 of 41
 General ledger of Olympia Sport and Trade
Balance sheet accounts section
Dr Capital B1 Cr

Dr Drawings B2 Cr

Dr Vehicles B3 Cr

Dr Equipment B4 Cr

Dr Trading stock B5 Cr

Dr Bank B5 Cr

Dr Cash float B6 Cr

Nominal accounts section

Dr Sales N1 Cr

Dr Cost of sales N2 Cr

Dr Wages N3 Cr

Dr Trading licence N4 Cr

Dr Stationery N5 Cr

Dr Rent expense N6 Cr

Dr Telephone N7 Cr

Page 32 of 41
Dr Insurance N8 Cr

Dr Salaries N9 Cr

Trial Balance of Olympia Sport and Trade on 28 February 2021.

Balance sheet accounts section Fol Debit Credit

Nominal accounts section

Page 33 of 41
ACTIVITY 17: General Ledger and Trial Balance Date: _____________
Post the CRJ and CPJ of Olympia Sport and Trade to the General ledger.
Balance the accounts at the end of the month.
Prepare a Trial Balance on 31 January 2021.

Cash Receipts Journal of Olympia Sport and Trade for January 2021 CRJ 1
Doc Day Details Fol Analysis of Bank Sales Cost of Sundry accounts
receipts sales Amount Fol Details
001 1 O.Winnings 320 000 320 000 Capital
CRR 8 Sales 18 600 18 600 18 600 12 400
CRR 15 Sales 9 900 9 900 6 600
002 K Selepe 2 800 12 700 2 800 Rent income
CRR 26 Sales 15 000 15 000 15 000 10 000
- 366 300 43 500 29 000 322 800

Cash Payments Journal of Olympia Sport and Trade for January 2021 CPJ 1
Doc Day Name of payee Fol Bank Trading Wages Stationery Sundry accounts
stock Amount Fol Details
001 3 Bou Traders 180 000 180 000 Land and buildings
002 4 City Council 1 800 1 800 Trading license
003 6 Verster Traders 8 400 8 400
004 MX Computers 13 440 640 12 800 Equipment
005 7 Cash 1 960 1 460 500 Cash float
006 10 Oggendblad 2 300 2 300 Advertising
007 13 Samson Traders 21 400 21 400
008 14 Cash 1 460 1 460
009 17 Petunia Florists 200 200 Drawings
010 21 NSA 384 384
011 23 Telkom 1 520 1 520 Telephone
012 24 Cash 1 280 1 280
013 28 Snow Traders 9 600 9 600
014 30 K Botha 6 200 6 200 Salaries
249 944 39 400 4 200 1 024 205 320

Page 34 of 41
 General Ledger of Olympia Sport and Trade
Balance sheet accounts section
Dr Capital B1 Cr

Dr Drawings B2 Cr

Dr Land and buildings B3 Cr

Dr Equipment B4 Cr

Dr Trading stock B5 Cr

Dr Bank B5 Cr

Dr Cash float B6 Cr

Nominal accounts section

Dr Sales N1 Cr

Dr Cost of sales N2 Cr

Dr Rent income N3 Cr

Dr Wages N4 Cr

Dr Trading licence N5 Cr

Dr Advertising N6 Cr

Dr Telephone N7 Cr

Page 35 of 41
Dr Salaries N8 Cr

Dr Stationery N9 Cr

Trial Balance of Olympia Sport and Trade on 31 January 2021.

Balance sheet accounts section Fol Debit Credit

Nominal accounts section

Page 36 of 41
ACTIVITY 18: THE GENERAL LEDGER

18.1 Use the totals in the Cash Receipts Journal and Cash Payments Journal of Sallie Dealers to
post to the General ledger. Post only to the BANK and TRADING STOCK account. Balance
the Bank account.
The following balance was recorded on the 1 May 2020: Bank (dr) R5000, Trading stock, R3 060

Cash Receipts Journal of Sallie Dealers – May 2020 CRJ 5

Analysis Cost Sundry Accounts
Doc
Day Details of Bank Sales of
No Amount Fol Details
Receipts Sales
20 000 1 505 860 10 000

Cash Payments Journal of Sallie Dealers – May 2020 CPJ 5

Name Sundry Accounts
Doc Trading
Day of Fol Bank Wages
No Stock Amount Fol Details
Payee
10 500 350 2 400 550

General Ledger of Sallie Dealers – May 2020

Balance Sheet Accounts Section
Dr BANK B6 Cr
Date Details Fol Amount Date Details Fol Amount

Dr TRADING STOCK B8 Cr
Date Details Fol Amount Date Details Fol Amount

Page 37 of 41
ACTIVITY 19: GENERAL LEDGER

INSTRUCTIONS AND INFORMATION:

Study the completed journals of Bulwer Dealers for March 2023 and complete the ledger accounts in the General Ledger.

19.1 Bank account (5)

Trading Inventory account. (5)
19.2 Balance the accounts at the end of March 2023.

Cash Receipts Journal of Bulwer Dealers – March 2023

CRJ 2
Analysis
Cost Sundry Account
Doc of
Day Details Fol Bank Sales of
No. Receipts
Sales Amount Fol Details

34 850 - 9 200 - 8 185 - 10 050 -

B6 N1 N2/B4

Cash Payments Journal of Bulwer Dealers – March 2023

CPJ 2
Sundry Account
Doc Name of
Day Fol Bank Trading Stock Wages
No. Payee
Amount Fol Details

26 500 - 11 700 - 3 500 - 6 000 -

B6 B4 N3

Page 38 of 41
 General Ledger of Bulwer Dealers

Balance Sheet Accounts

Bank
Date Details Fol Amount Date Details Fol Amount

(4) marks

Trading stock
Date Details Fol Amount Date Details Fol Amount

(6) marks

Page 39 of 41
Page 40 of 41
ACTIVITY 20: TRIAL BALANCE
Below is the General Ledger of Lincoln Traders on 28 February 2023. You are required to prepare
the Trial Balance for the business.
INFORMATION:
Balance sheet accounts section
Dr Capital B1 Cr
Feb 1 Bank CRJ 80 000
Dr Drawings B2 Cr
Feb 17 Bank CPJ 800
Dr Trading Stock B3 Cr
Feb 28 Bank CPJ 21 700
Dr Bank B4 Cr
Feb 28 Total receipts CRJ 108 600 Feb 28 Total payments CPJ 58 700
Balance c/d 49 900
108 600 108 600
Mar 1 Balance b/d 49 900
Nominal accounts section
Dr Sales N1 Cr
Feb 28 Bank CRJ 26 400
Dr Cost of sales N2 Cr
Feb 28 Bank CPJ 18 000
Dr Packing material N3 Cr
Feb 28 Bank CPJ 9 400
Dr Rent income N6 Cr
Feb 14 Bank 2 200

Trial Balance of Lincoln Traders o 28 February 2023

Balance sheet accounts section
Fol Debit Credit

Nominal accounts section

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