Date: SEPTEMBER 2025
Time: 1 ½ HOURS
Marks: 100
Grade: 10
Subject: ACCOUNTING
Question paper: 1
Name and Surname:
Instructions and Information
1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which you must answer ALL the questions.
3. Show ALL calculations 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. Show ALL calculations to ONE decimal place, where applicable.
Topics covered in this paper
• Accounting concepts and principles
• Financial statements
• Adjustments
• Analysis and interpretation of financial statements
• Notes and Statement of Financial Position
Pg 1/ 10 www.summariessa.co.za Author: DAN SMI
Grade: 10 Subject: ACCOUNTING Date: SEPTEMBER 2025
, QUESTION 1
1.1 Match the concepts in the block to the given statements. Write only the word
next to the question number.
Matching principle; Historical cost principle;
Consistency principle; Pairing principle
1.1 Income and expenses must be recognized in the financial year in which
they are earned or incurred regardless of when the cash is received or
paid.
1.2 Assets are recorded at the original purchase price and not at the
current market value.
1.3 Financial statements must be prepared in the same way year after
year so that they are comparable.
1.4 Expenses must be recorded in the same period as the income to
which they relate.
(4 x 1)(4)
Pg 2/ 10 www.summariessa.co.za Author: DAN SMI
Grade: 10 Subject: ACCOUNTING Date: SEPTEMBER 2025
, 1.2 The information relates to the financial year ended 29 February 2024 from
AMAZI Traders.
Goods are sold at a profit markup of 40% on cost price.
REQUIRED:
Prepare the Income Statement (Statement of Comprehensive Income) for the
year ended 29 February 2024. (40)
INFORMATION
Extract from the Pre-Adjustment Trial Balance on 29 February 2024.
Capital 500000
Drawings 70000
Vehicles 320000
Accumulated depreciation on vehicles (01/03/2023) 80000
Equipment 140000
Accumulated depreciation on equipment (01/03/2023) 26000
Land and buildings 1 200 000
Fixed deposit: Same Bank 180000
Bank 76000
Trading stock 231000
Creditors control 143000
Loan: Colour Bank 220000
Debtors control 211000
Sales 950000
Cost of sales 400000
Pg 3/ 10 www.summariessa.co.za Author: DAN SMI
Grade: 10 Subject: ACCOUNTING Date: SEPTEMBER 2025
Time: 1 ½ HOURS
Marks: 100
Grade: 10
Subject: ACCOUNTING
Question paper: 1
Name and Surname:
Instructions and Information
1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which you must answer ALL the questions.
3. Show ALL calculations 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. Show ALL calculations to ONE decimal place, where applicable.
Topics covered in this paper
• Accounting concepts and principles
• Financial statements
• Adjustments
• Analysis and interpretation of financial statements
• Notes and Statement of Financial Position
Pg 1/ 10 www.summariessa.co.za Author: DAN SMI
Grade: 10 Subject: ACCOUNTING Date: SEPTEMBER 2025
, QUESTION 1
1.1 Match the concepts in the block to the given statements. Write only the word
next to the question number.
Matching principle; Historical cost principle;
Consistency principle; Pairing principle
1.1 Income and expenses must be recognized in the financial year in which
they are earned or incurred regardless of when the cash is received or
paid.
1.2 Assets are recorded at the original purchase price and not at the
current market value.
1.3 Financial statements must be prepared in the same way year after
year so that they are comparable.
1.4 Expenses must be recorded in the same period as the income to
which they relate.
(4 x 1)(4)
Pg 2/ 10 www.summariessa.co.za Author: DAN SMI
Grade: 10 Subject: ACCOUNTING Date: SEPTEMBER 2025
, 1.2 The information relates to the financial year ended 29 February 2024 from
AMAZI Traders.
Goods are sold at a profit markup of 40% on cost price.
REQUIRED:
Prepare the Income Statement (Statement of Comprehensive Income) for the
year ended 29 February 2024. (40)
INFORMATION
Extract from the Pre-Adjustment Trial Balance on 29 February 2024.
Capital 500000
Drawings 70000
Vehicles 320000
Accumulated depreciation on vehicles (01/03/2023) 80000
Equipment 140000
Accumulated depreciation on equipment (01/03/2023) 26000
Land and buildings 1 200 000
Fixed deposit: Same Bank 180000
Bank 76000
Trading stock 231000
Creditors control 143000
Loan: Colour Bank 220000
Debtors control 211000
Sales 950000
Cost of sales 400000
Pg 3/ 10 www.summariessa.co.za Author: DAN SMI
Grade: 10 Subject: ACCOUNTING Date: SEPTEMBER 2025
