2022 · november · Accounting · Grade 10

Practice paper 1 — Grade 10 Accounting (Easified, CAPS-aligned)

Notes

This paper lives in the app. Draw the situation when the question describes one. Show Given, Missing, Find, then the calculation. Use a division line for any division.

150 min · 120 Marks · 30 questions

Learn the paper in the app: notes, a marks breakdown, the formula you need, and the board working. You do not need to download it.

Sit it timed Formula sheet

Question breakdown

1 · 4 Marks · Accounting equation
Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R15000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
Formulas
A=OE+L
Assets equal owner's equity plus liabilities
Notes: Given: capital R15000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R15000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
In other words — as if you have never seen this before
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
2. What do we already know?
Given: capital R15000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
3. Which method — and why this one?
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R15000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Accounting equation has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Accounting equation. A sole trader puts R15000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Bank R10000 + Equipment R5000 = Owner's equity R15000. Liabilities stay R0. Assets still equal equity.
  A=OE+L
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Bank R10000 + Equipment R5000 = Owner's equity R15000. Liabilities stay R0. Assets still equal equity.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Bank R10000 + Equipment R5000 = Owner's equity R15000. Liabilities stay R0. Assets still equal equity.
Copy onto your answer sheet — in this order
Formula: A=OE+L
Answer: Bank R10000 + Equipment R5000 = Owner's equity R15000. Liabilities stay R0. Assets still equal equity.
6. Check it like a marker
Assets still equal owner's equity. Only the mix of assets changed.
7. A trap first-timers fall into
Do not debit an expense, and do not credit capital a second time.
2 · 4 Marks · Journals and source documents
Accounting Grade 10. Draw the situation for Journals and source documents. The source document is an invoice issued to a customer for R1600. Which journal is it entered in, which account is debited, and which account is credited?
Formulas
Source document→journal→ledger
The document names the journal, and the journal names the accounts
Notes: Given: an invoice issued to a customer, R1600. Missing: the journal and the two accounts.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Journals and source documents. The source document is an invoice issued to a customer for R1600. Which journal is it entered in, which account is debited, and which account is credited?
In other words — as if you have never seen this before
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
2. What do we already know?
Given: an invoice issued to a customer, R1600. Missing: the journal and the two accounts.
3. Which method — and why this one?
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
4. Step-by-step working
1. 01 / 07
  Given
  Given: an invoice issued to a customer, R1600. Missing: the journal and the two accounts.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Journals and source documents has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Journals and source documents. The source document is an invoice issued to a customer for R1600. Which journal is it entered in, which account is debited, and which account is credited?
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Document: an invoice issued to a customer for R1600. Journal: Debtors journal. Debit Debtors control R1600. Credit Sales R1600.
  Source document→journal→ledger
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Document: an invoice issued to a customer for R1600. Journal: Debtors journal. Debit Debtors control R1600. Credit Sales R1600.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Document: an invoice issued to a customer for R1600. Journal: Debtors journal. Debit Debtors control R1600. Credit Sales R1600.
Copy onto your answer sheet — in this order
Formula: Source document → journal → ledger
Answer: Document: an invoice issued to a customer for R1600. Journal: Debtors journal. Debit Debtors control R1600. Credit Sales R1600.
6. Check it like a marker
The debit and the credit are the same amount, and the journal matches the document.
7. A trap first-timers fall into
Do not enter this in the cash receipts journal, because no cash arrived.
3 · 4 Marks · General ledger and trial balance
Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R15000 is banked. Rent of R2500 is paid by EFT. Post the two entries and state the trial-balance totals.
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
Notes: Given: capital R15000, rent R2500. Missing: the bank balance and the two trial-balance totals.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R15000 is banked. Rent of R2500 is paid by EFT. Post the two entries and state the trial-balance totals.
In other words — as if you have never seen this before
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
2. What do we already know?
Given: capital R15000, rent R2500. Missing: the bank balance and the two trial-balance totals.
3. Which method — and why this one?
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R15000, rent R2500. Missing: the bank balance and the two trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What General ledger and trial balance has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for General ledger and trial balance. Capital of R15000 is banked. Rent of R2500 is paid by EFT. Post the two entries and state the trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Trial balance: Bank debit R12500, Rent expense debit R2500, Capital credit R15000. Both totals are R15000.
  Debit total=Credit total
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Trial balance: Bank debit R12500, Rent expense debit R2500, Capital credit R15000. Both totals are R15000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Trial balance: Bank debit R12500, Rent expense debit R2500, Capital credit R15000. Both totals are R15000.
Copy onto your answer sheet — in this order
Formula: Debit total = Credit total
Answer: Trial balance: Bank debit R12500, Rent expense debit R2500, Capital credit R15000. Both totals are R15000.
6. Check it like a marker
Both columns total R15000. Rent is a debit, not a credit.
7. A trap first-timers fall into
Do not leave rent in the bank account only. It needs its own debit.
4 · 4 Marks · Financial statements of a sole trader
Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R40000, cost of sales is R24000 and operating expenses are R6000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R40000, cost of sales R24000, expenses R6000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R40000, cost of sales is R24000 and operating expenses are R6000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R40000 · R24000 and · R6000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write Gross profit = Sales − Cost of sales with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives gross profit and net profit.
In other words — as if you have never seen this before
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R40000, cost of sales R24000, expenses R6000. Missing: gross profit and net profit.
3. Which method — and why this one?
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Given
  Given: sales R40000, cost of sales R24000, expenses R6000. Missing: gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Financial statements of a sole trader has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Financial statements of a sole trader. Sales are R40000, cost of sales is R24000 and operating expenses are R6000. Calculate gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R6000 = R10000.
  Gross profit=Sales−Cost of sales
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R6000 = R10000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R6000 = R10000.
Copy onto your answer sheet — in this order
Formula: Gross profit = Sales − Cost of sales
Answer: Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R6000 = R10000.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.
5 · 4 Marks · VAT basics
Accounting Grade 10. Draw the situation for VAT basics. Goods are R2800 before VAT. VAT is 15%. Calculate the VAT and the inclusive amount.
Formulas
VAT=exclusive price×15%
Inclusive price = exclusive price + VAT
Notes: Given: exclusive price R2800, rate 15%. Missing: VAT and the total due.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for VAT basics. Goods are R2800 before VAT. VAT is 15%. Calculate the VAT and the inclusive amount.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R2800 before · 15%. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: the VAT and the inclusive amount. Circle that word — that is the missing variable.
Find
We are required to find: the VAT and the inclusive amount. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write VAT = exclusive price × 15% with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives the VAT and the inclusive amount.
In other words — as if you have never seen this before
VAT basics. VAT at 15% is calculated on the exclusive price. The customer pays the exclusive price plus the VAT.
2. What do we already know?
Given: exclusive price R2800, rate 15%. Missing: VAT and the total due.
3. Which method — and why this one?
VAT basics. VAT at 15% is calculated on the exclusive price. The customer pays the exclusive price plus the VAT.
4. Step-by-step working
1. 01 / 07
  Given
  Given: exclusive price R2800, rate 15%. Missing: VAT and the total due.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What VAT basics has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for VAT basics. Goods are R2800 before VAT. VAT is 15%. Calculate the VAT and the inclusive amount.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  VAT=R2800×15%=R420. Inclusive price=R3220.
  VAT=exclusive price×15%
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  VAT=R2800×15%=R420. Inclusive price=R3220.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
VAT=R2800×15%=R420. Inclusive price=R3220.
Copy onto your answer sheet — in this order
Formula: VAT = exclusive price × 15%
Answer: VAT = R2800 × 15% = R420. Inclusive price = R3220.
6. Check it like a marker
The VAT is much smaller than the exclusive price. The total is larger than both.
7. A trap first-timers fall into
Do not take 15% of a price that already includes VAT.
6 · 8 Marks · Accounting equation
Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R20000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
Formulas
A=OE+L
Assets equal owner's equity plus liabilities
Notes: Given: capital R20000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R20000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
In other words — as if you have never seen this before
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
2. What do we already know?
Given: capital R20000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
3. Which method — and why this one?
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R20000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Accounting equation has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Accounting equation. A sole trader puts R20000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Bank R15000 + Equipment R5000 = Owner's equity R20000. Liabilities stay R0. Assets still equal equity.
  A=OE+L
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Bank R15000 + Equipment R5000 = Owner's equity R20000. Liabilities stay R0. Assets still equal equity.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Bank R15000 + Equipment R5000 = Owner's equity R20000. Liabilities stay R0. Assets still equal equity.
Copy onto your answer sheet — in this order
Formula: A=OE+L
Answer: Bank R15000 + Equipment R5000 = Owner's equity R20000. Liabilities stay R0. Assets still equal equity.
6. Check it like a marker
Assets still equal owner's equity. Only the mix of assets changed.
7. A trap first-timers fall into
Do not debit an expense, and do not credit capital a second time.
7 · 4 Marks · Journals and source documents
Accounting Grade 10. Draw the situation for Journals and source documents. The source document is a credit note issued to a customer for R1600. Which journal is it entered in, which account is debited, and which account is credited?
Formulas
Source document→journal→ledger
The document names the journal, and the journal names the accounts
Notes: Given: a credit note issued to a customer, R1600. Missing: the journal and the two accounts.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Journals and source documents. The source document is a credit note issued to a customer for R1600. Which journal is it entered in, which account is debited, and which account is credited?
In other words — as if you have never seen this before
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
2. What do we already know?
Given: a credit note issued to a customer, R1600. Missing: the journal and the two accounts.
3. Which method — and why this one?
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
4. Step-by-step working
1. 01 / 07
  Given
  Given: a credit note issued to a customer, R1600. Missing: the journal and the two accounts.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Journals and source documents has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Journals and source documents. The source document is a credit note issued to a customer for R1600. Which journal is it entered in, which account is debited, and which account is credited?
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Document: a credit note issued to a customer for R1600. Journal: Debtors allowances journal. Debit Debtors allowances R1600. Credit Debtors control R1600.
  Source document→journal→ledger
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Document: a credit note issued to a customer for R1600. Journal: Debtors allowances journal. Debit Debtors allowances R1600. Credit Debtors control R1600.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Document: a credit note issued to a customer for R1600. Journal: Debtors allowances journal. Debit Debtors allowances R1600. Credit Debtors control R1600.
Copy onto your answer sheet — in this order
Formula: Source document → journal → ledger
Answer: Document: a credit note issued to a customer for R1600. Journal: Debtors allowances journal. Debit Debtors allowances R1600. Credit Debtors control R1600.
6. Check it like a marker
The debit and the credit are the same amount, and the journal matches the document.
7. A trap first-timers fall into
Do not enter this in the debtors journal, which records new credit sales.
8 · 4 Marks · General ledger and trial balance
Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R25000 is banked. Rent of R1000 is paid by EFT. Post the two entries and state the trial-balance totals.
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
Notes: Given: capital R25000, rent R1000. Missing: the bank balance and the two trial-balance totals.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R25000 is banked. Rent of R1000 is paid by EFT. Post the two entries and state the trial-balance totals.
In other words — as if you have never seen this before
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
2. What do we already know?
Given: capital R25000, rent R1000. Missing: the bank balance and the two trial-balance totals.
3. Which method — and why this one?
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R25000, rent R1000. Missing: the bank balance and the two trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What General ledger and trial balance has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for General ledger and trial balance. Capital of R25000 is banked. Rent of R1000 is paid by EFT. Post the two entries and state the trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Trial balance: Bank debit R24000, Rent expense debit R1000, Capital credit R25000. Both totals are R25000.
  Debit total=Credit total
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Trial balance: Bank debit R24000, Rent expense debit R1000, Capital credit R25000. Both totals are R25000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Trial balance: Bank debit R24000, Rent expense debit R1000, Capital credit R25000. Both totals are R25000.
Copy onto your answer sheet — in this order
Formula: Debit total = Credit total
Answer: Trial balance: Bank debit R24000, Rent expense debit R1000, Capital credit R25000. Both totals are R25000.
6. Check it like a marker
Both columns total R25000. Rent is a debit, not a credit.
7. A trap first-timers fall into
Do not leave rent in the bank account only. It needs its own debit.
9 · 4 Marks · Financial statements of a sole trader
Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R5000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R48000, cost of sales R28800, expenses R5000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R5000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R48000 · R28800 and · R5000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write Gross profit = Sales − Cost of sales with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives gross profit and net profit.
In other words — as if you have never seen this before
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R48000, cost of sales R28800, expenses R5000. Missing: gross profit and net profit.
3. Which method — and why this one?
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Given
  Given: sales R48000, cost of sales R28800, expenses R5000. Missing: gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Financial statements of a sole trader has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R5000. Calculate gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R5000 = R14200.
  Gross profit=Sales−Cost of sales
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R5000 = R14200.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R5000 = R14200.
Copy onto your answer sheet — in this order
Formula: Gross profit = Sales − Cost of sales
Answer: Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R5000 = R14200.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.
10 · 4 Marks · Accounting equation
Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R25000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
Formulas
A=OE+L
Assets equal owner's equity plus liabilities
Notes: Given: capital R25000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R25000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
In other words — as if you have never seen this before
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
2. What do we already know?
Given: capital R25000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
3. Which method — and why this one?
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R25000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Accounting equation has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Accounting equation. A sole trader puts R25000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Bank R20000 + Equipment R5000 = Owner's equity R25000. Liabilities stay R0. Assets still equal equity.
  A=OE+L
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Bank R20000 + Equipment R5000 = Owner's equity R25000. Liabilities stay R0. Assets still equal equity.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Bank R20000 + Equipment R5000 = Owner's equity R25000. Liabilities stay R0. Assets still equal equity.
Copy onto your answer sheet — in this order
Formula: A=OE+L
Answer: Bank R20000 + Equipment R5000 = Owner's equity R25000. Liabilities stay R0. Assets still equal equity.
6. Check it like a marker
Assets still equal owner's equity. Only the mix of assets changed.
7. A trap first-timers fall into
Do not debit an expense, and do not credit capital a second time.
11 · 8 Marks · Journals and source documents
Accounting Grade 10. Draw the situation for Journals and source documents. The source document is a cash receipt for R1600. Which journal is it entered in, which account is debited, and which account is credited?
Formulas
Source document→journal→ledger
The document names the journal, and the journal names the accounts
Notes: Given: a cash receipt, R1600. Missing: the journal and the two accounts.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Journals and source documents. The source document is a cash receipt for R1600. Which journal is it entered in, which account is debited, and which account is credited?
In other words — as if you have never seen this before
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
2. What do we already know?
Given: a cash receipt, R1600. Missing: the journal and the two accounts.
3. Which method — and why this one?
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
4. Step-by-step working
1. 01 / 07
  Given
  Given: a cash receipt, R1600. Missing: the journal and the two accounts.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Journals and source documents has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Journals and source documents. The source document is a cash receipt for R1600. Which journal is it entered in, which account is debited, and which account is credited?
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Document: a cash receipt for R1600. Journal: Cash receipts journal. Debit Bank R1600. Credit Debtors control R1600.
  Source document→journal→ledger
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Document: a cash receipt for R1600. Journal: Cash receipts journal. Debit Bank R1600. Credit Debtors control R1600.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Document: a cash receipt for R1600. Journal: Cash receipts journal. Debit Bank R1600. Credit Debtors control R1600.
Copy onto your answer sheet — in this order
Formula: Source document → journal → ledger
Answer: Document: a cash receipt for R1600. Journal: Cash receipts journal. Debit Bank R1600. Credit Debtors control R1600.
6. Check it like a marker
The debit and the credit are the same amount, and the journal matches the document.
7. A trap first-timers fall into
Do not enter this in the cash payments journal.
12 · 4 Marks · General ledger and trial balance
Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R20000 is banked. Rent of R1500 is paid by EFT. Post the two entries and state the trial-balance totals.
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
Notes: Given: capital R20000, rent R1500. Missing: the bank balance and the two trial-balance totals.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R20000 is banked. Rent of R1500 is paid by EFT. Post the two entries and state the trial-balance totals.
In other words — as if you have never seen this before
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
2. What do we already know?
Given: capital R20000, rent R1500. Missing: the bank balance and the two trial-balance totals.
3. Which method — and why this one?
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R20000, rent R1500. Missing: the bank balance and the two trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What General ledger and trial balance has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for General ledger and trial balance. Capital of R20000 is banked. Rent of R1500 is paid by EFT. Post the two entries and state the trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Trial balance: Bank debit R18500, Rent expense debit R1500, Capital credit R20000. Both totals are R20000.
  Debit total=Credit total
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Trial balance: Bank debit R18500, Rent expense debit R1500, Capital credit R20000. Both totals are R20000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Trial balance: Bank debit R18500, Rent expense debit R1500, Capital credit R20000. Both totals are R20000.
Copy onto your answer sheet — in this order
Formula: Debit total = Credit total
Answer: Trial balance: Bank debit R18500, Rent expense debit R1500, Capital credit R20000. Both totals are R20000.
6. Check it like a marker
Both columns total R20000. Rent is a debit, not a credit.
7. A trap first-timers fall into
Do not leave rent in the bank account only. It needs its own debit.
13 · 4 Marks · Financial statements of a sole trader
Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R56000, cost of sales is R33600 and operating expenses are R7000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R56000, cost of sales R33600, expenses R7000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R56000, cost of sales is R33600 and operating expenses are R7000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R56000 · R33600 and · R7000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write Gross profit = Sales − Cost of sales with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives gross profit and net profit.
In other words — as if you have never seen this before
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R56000, cost of sales R33600, expenses R7000. Missing: gross profit and net profit.
3. Which method — and why this one?
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Given
  Given: sales R56000, cost of sales R33600, expenses R7000. Missing: gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Financial statements of a sole trader has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Financial statements of a sole trader. Sales are R56000, cost of sales is R33600 and operating expenses are R7000. Calculate gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Gross profit = R56000 − R33600 = R22400. Net profit = R22400 − R7000 = R15400.
  Gross profit=Sales−Cost of sales
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit = R56000 − R33600 = R22400. Net profit = R22400 − R7000 = R15400.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R56000 − R33600 = R22400. Net profit = R22400 − R7000 = R15400.
Copy onto your answer sheet — in this order
Formula: Gross profit = Sales − Cost of sales
Answer: Gross profit = R56000 − R33600 = R22400. Net profit = R22400 − R7000 = R15400.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.
14 · 4 Marks · Accounting equation
Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R10000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
Formulas
A=OE+L
Assets equal owner's equity plus liabilities
Notes: Given: capital R10000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Accounting equation. A sole trader puts R10000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
In other words — as if you have never seen this before
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
2. What do we already know?
Given: capital R10000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
3. Which method — and why this one?
Accounting equation. A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R10000, equipment bought for R5000 by EFT. Missing: bank after the purchase, and whether equity changed.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Accounting equation has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Accounting equation. A sole trader puts R10000 into the bank as capital, then buys equipment for R5000 by EFT. Show the accounting equation after the purchase.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Bank R5000 + Equipment R5000 = Owner's equity R10000. Liabilities stay R0. Assets still equal equity.
  A=OE+L
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Bank R5000 + Equipment R5000 = Owner's equity R10000. Liabilities stay R0. Assets still equal equity.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Bank R5000 + Equipment R5000 = Owner's equity R10000. Liabilities stay R0. Assets still equal equity.
Copy onto your answer sheet — in this order
Formula: A=OE+L
Answer: Bank R5000 + Equipment R5000 = Owner's equity R10000. Liabilities stay R0. Assets still equal equity.
6. Check it like a marker
Assets still equal owner's equity. Only the mix of assets changed.
7. A trap first-timers fall into
Do not debit an expense, and do not credit capital a second time.
15 · 4 Marks · Journals and source documents
Accounting Grade 10. Draw the situation for Journals and source documents. The source document is a cheque counterfoil for stationery for R1600. Which journal is it entered in, which account is debited, and which account is credited?
Formulas
Source document→journal→ledger
The document names the journal, and the journal names the accounts
Notes: Given: a cheque counterfoil for stationery, R1600. Missing: the journal and the two accounts.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Journals and source documents. The source document is a cheque counterfoil for stationery for R1600. Which journal is it entered in, which account is debited, and which account is credited?
In other words — as if you have never seen this before
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
2. What do we already know?
Given: a cheque counterfoil for stationery, R1600. Missing: the journal and the two accounts.
3. Which method — and why this one?
Journals and source documents. The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
4. Step-by-step working
1. 01 / 07
  Given
  Given: a cheque counterfoil for stationery, R1600. Missing: the journal and the two accounts.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Journals and source documents has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Journals and source documents. The source document is a cheque counterfoil for stationery for R1600. Which journal is it entered in, which account is debited, and which account is credited?
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Document: a cheque counterfoil for stationery for R1600. Journal: Cash payments journal. Debit Stationery R1600. Credit Bank R1600.
  Source document→journal→ledger
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Document: a cheque counterfoil for stationery for R1600. Journal: Cash payments journal. Debit Stationery R1600. Credit Bank R1600.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Document: a cheque counterfoil for stationery for R1600. Journal: Cash payments journal. Debit Stationery R1600. Credit Bank R1600.
Copy onto your answer sheet — in this order
Formula: Source document → journal → ledger
Answer: Document: a cheque counterfoil for stationery for R1600. Journal: Cash payments journal. Debit Stationery R1600. Credit Bank R1600.
6. Check it like a marker
The debit and the credit are the same amount, and the journal matches the document.
7. A trap first-timers fall into
Do not enter this in the cash receipts journal.
16 · 8 Marks · General ledger and trial balance
Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R15000 is banked. Rent of R2000 is paid by EFT. Post the two entries and state the trial-balance totals.
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
Notes: Given: capital R15000, rent R2000. Missing: the bank balance and the two trial-balance totals.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R15000 is banked. Rent of R2000 is paid by EFT. Post the two entries and state the trial-balance totals.
In other words — as if you have never seen this before
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
2. What do we already know?
Given: capital R15000, rent R2000. Missing: the bank balance and the two trial-balance totals.
3. Which method — and why this one?
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R15000, rent R2000. Missing: the bank balance and the two trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What General ledger and trial balance has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for General ledger and trial balance. Capital of R15000 is banked. Rent of R2000 is paid by EFT. Post the two entries and state the trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Trial balance: Bank debit R13000, Rent expense debit R2000, Capital credit R15000. Both totals are R15000.
  Debit total=Credit total
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Trial balance: Bank debit R13000, Rent expense debit R2000, Capital credit R15000. Both totals are R15000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Trial balance: Bank debit R13000, Rent expense debit R2000, Capital credit R15000. Both totals are R15000.
Copy onto your answer sheet — in this order
Formula: Debit total = Credit total
Answer: Trial balance: Bank debit R13000, Rent expense debit R2000, Capital credit R15000. Both totals are R15000.
6. Check it like a marker
Both columns total R15000. Rent is a debit, not a credit.
7. A trap first-timers fall into
Do not leave rent in the bank account only. It needs its own debit.
17 · 4 Marks · Financial statements of a sole trader
Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R64000, cost of sales is R38400 and operating expenses are R6000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R64000, cost of sales R38400, expenses R6000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R64000, cost of sales is R38400 and operating expenses are R6000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R64000 · R38400 and · R6000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write Gross profit = Sales − Cost of sales with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives gross profit and net profit.
In other words — as if you have never seen this before
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R64000, cost of sales R38400, expenses R6000. Missing: gross profit and net profit.
3. Which method — and why this one?
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Given
  Given: sales R64000, cost of sales R38400, expenses R6000. Missing: gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Financial statements of a sole trader has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Financial statements of a sole trader. Sales are R64000, cost of sales is R38400 and operating expenses are R6000. Calculate gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Gross profit = R64000 − R38400 = R25600. Net profit = R25600 − R6000 = R19600.
  Gross profit=Sales−Cost of sales
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit = R64000 − R38400 = R25600. Net profit = R25600 − R6000 = R19600.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R64000 − R38400 = R25600. Net profit = R25600 − R6000 = R19600.
Copy onto your answer sheet — in this order
Formula: Gross profit = Sales − Cost of sales
Answer: Gross profit = R64000 − R38400 = R25600. Net profit = R25600 − R6000 = R19600.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.
18 · 4 Marks · General ledger and trial balance
Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R25000 is banked. Rent of R2500 is paid by EFT. Post the two entries and state the trial-balance totals.
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
Notes: Given: capital R25000, rent R2500. Missing: the bank balance and the two trial-balance totals.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R25000 is banked. Rent of R2500 is paid by EFT. Post the two entries and state the trial-balance totals.
In other words — as if you have never seen this before
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
2. What do we already know?
Given: capital R25000, rent R2500. Missing: the bank balance and the two trial-balance totals.
3. Which method — and why this one?
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R25000, rent R2500. Missing: the bank balance and the two trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What General ledger and trial balance has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for General ledger and trial balance. Capital of R25000 is banked. Rent of R2500 is paid by EFT. Post the two entries and state the trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Trial balance: Bank debit R22500, Rent expense debit R2500, Capital credit R25000. Both totals are R25000.
  Debit total=Credit total
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Trial balance: Bank debit R22500, Rent expense debit R2500, Capital credit R25000. Both totals are R25000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Trial balance: Bank debit R22500, Rent expense debit R2500, Capital credit R25000. Both totals are R25000.
Copy onto your answer sheet — in this order
Formula: Debit total = Credit total
Answer: Trial balance: Bank debit R22500, Rent expense debit R2500, Capital credit R25000. Both totals are R25000.
6. Check it like a marker
Both columns total R25000. Rent is a debit, not a credit.
7. A trap first-timers fall into
Do not leave rent in the bank account only. It needs its own debit.
19 · 8 Marks · Financial statements of a sole trader
Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R40000, cost of sales is R24000 and operating expenses are R5000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R40000, cost of sales R24000, expenses R5000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R40000, cost of sales is R24000 and operating expenses are R5000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R40000 · R24000 and · R5000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write Gross profit = Sales − Cost of sales with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives gross profit and net profit.
In other words — as if you have never seen this before
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R40000, cost of sales R24000, expenses R5000. Missing: gross profit and net profit.
3. Which method — and why this one?
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Given
  Given: sales R40000, cost of sales R24000, expenses R5000. Missing: gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Financial statements of a sole trader has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Financial statements of a sole trader. Sales are R40000, cost of sales is R24000 and operating expenses are R5000. Calculate gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R5000 = R11000.
  Gross profit=Sales−Cost of sales
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R5000 = R11000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R5000 = R11000.
Copy onto your answer sheet — in this order
Formula: Gross profit = Sales − Cost of sales
Answer: Gross profit = R40000 − R24000 = R16000. Net profit = R16000 − R5000 = R11000.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.
20 · 4 Marks · General ledger and trial balance
Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R20000 is banked. Rent of R1000 is paid by EFT. Post the two entries and state the trial-balance totals.
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
Notes: Given: capital R20000, rent R1000. Missing: the bank balance and the two trial-balance totals.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for General ledger and trial balance. Capital of R20000 is banked. Rent of R1000 is paid by EFT. Post the two entries and state the trial-balance totals.
In other words — as if you have never seen this before
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
2. What do we already know?
Given: capital R20000, rent R1000. Missing: the bank balance and the two trial-balance totals.
3. Which method — and why this one?
General ledger and trial balance. Post each entry to the ledger, then the trial balance must have equal debit and credit totals.
4. Step-by-step working
1. 01 / 07
  Given
  Given: capital R20000, rent R1000. Missing: the bank balance and the two trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What General ledger and trial balance has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for General ledger and trial balance. Capital of R20000 is banked. Rent of R1000 is paid by EFT. Post the two entries and state the trial-balance totals.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Trial balance: Bank debit R19000, Rent expense debit R1000, Capital credit R20000. Both totals are R20000.
  Debit total=Credit total
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Trial balance: Bank debit R19000, Rent expense debit R1000, Capital credit R20000. Both totals are R20000.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Trial balance: Bank debit R19000, Rent expense debit R1000, Capital credit R20000. Both totals are R20000.
Copy onto your answer sheet — in this order
Formula: Debit total = Credit total
Answer: Trial balance: Bank debit R19000, Rent expense debit R1000, Capital credit R20000. Both totals are R20000.
6. Check it like a marker
Both columns total R20000. Rent is a debit, not a credit.
7. A trap first-timers fall into
Do not leave rent in the bank account only. It needs its own debit.
21 · 4 Marks · Financial statements of a sole trader
Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R7000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R48000, cost of sales R28800, expenses R7000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Accounting Grade 10. Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R7000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: 10 · R48000 · R28800 and · R7000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
Write Gross profit = Sales − Cost of sales with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives gross profit and net profit.
In other words — as if you have never seen this before
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R48000, cost of sales R28800, expenses R7000. Missing: gross profit and net profit.
3. Which method — and why this one?
Financial statements of a sole trader. Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Given
  Given: sales R48000, cost of sales R28800, expenses R7000. Missing: gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
2. 02 / 07
  Missing
  What Financial statements of a sole trader has not given you yet.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
3. 03 / 07
  Find
  Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R7000. Calculate gross profit and net profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
4. 04 / 07
  Calculate
  Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R7000 = R12200.
  Gross profit=Sales−Cost of sales
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R7000 = R12200.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R7000 = R12200.
Copy onto your answer sheet — in this order
Formula: Gross profit = Sales − Cost of sales
Answer: Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R7000 = R12200.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.
22 · 2 Marks · General ledger and trial balance
Post each entry to the ledger, then the trial balance must have equal debit and credit totals. Which line belongs to General ledger and trial balance?
Formulas
Debit total=Credit total
A trial balance balances when every debit has a matching credit
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Post each entry to the ledger, then the trial balance must have equal debit and credit totals. Which line belongs to General ledger and trial balance?
In other words — as if you have never seen this before
Do not leave rent in the bank account only. It needs its own debit.
2. What do we already know?
Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
3. Which method — and why this one?
Do not leave rent in the bank account only. It needs its own debit.
4. Step-by-step working
1. 01 / 07
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 07
  Step B — Write the given in a column
  Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
3. 03 / 07
  Step C — Name the method in words
  Do not leave rent in the bank account only. It needs its own debit.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
4. 04 / 07
  Working
  Do not leave rent in the bank account only. It needs its own debit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Do not leave rent in the bank account only. It needs its own debit.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Do not leave rent in the bank account only. It needs its own debit.
Copy onto your answer sheet — in this order
Answer: Do not leave rent in the bank account only. It needs its own debit.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
23 · 2 Marks · Financial statements of a sole trader
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses. Which line belongs to Financial statements of a sole trader?
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses. Which line belongs to Financial statements of a sole trader?
In other words — as if you have never seen this before
Do not subtract expenses before cost of sales and still call the result gross profit.
2. What do we already know?
Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
3. Which method — and why this one?
Do not subtract expenses before cost of sales and still call the result gross profit.
4. Step-by-step working
1. 01 / 07
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 07
  Step B — Write the given in a column
  Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
3. 03 / 07
  Step C — Name the method in words
  Do not subtract expenses before cost of sales and still call the result gross profit.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
4. 04 / 07
  Working
  Do not subtract expenses before cost of sales and still call the result gross profit.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Do not subtract expenses before cost of sales and still call the result gross profit.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Do not subtract expenses before cost of sales and still call the result gross profit.
Copy onto your answer sheet — in this order
Answer: Do not subtract expenses before cost of sales and still call the result gross profit.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
24 · 2 Marks · VAT basics
VAT at 15% is calculated on the exclusive price. The customer pays the exclusive price plus the VAT. Which line belongs to VAT basics?
Formulas
VAT=exclusive price×15%
Inclusive price = exclusive price + VAT
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: VAT at 15% is calculated on the exclusive price. The customer pays the exclusive price plus the VAT. Which line belongs to VAT basics?
Before any working — hunt first
Given
Numbers and units already in the sentence: 15%. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: Which line belongs to VAT basics. Circle that word — that is the missing variable.
Find
We are required to find: Which line belongs to VAT basics. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
What we need to calculate: Do not take 15% of a price that already includes VAT. Then substitute the given, one line at a time, to get Which line belongs to VAT basics.
In other words — as if you have never seen this before
Do not take 15% of a price that already includes VAT.
2. What do we already know?
Copy these onto the left of your page, one per line, with units: 15%. Mixing cm with m, or minutes with seconds, loses a method mark.
3. Which method — and why this one?
Do not take 15% of a price that already includes VAT.
4. Step-by-step working
1. 01 / 08
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 08
  Step A2 — Hunt: Given, Missing, Find, Calculate
  Given: Numbers and units already in the sentence: 15%. Copy each one into a column. A name without a number is not given. Missing: After you copy the given, the letter that still has no number is missing. The paper is pointing at: Which line belongs to VAT basics. Circle that word — that is the missing variable. Find: We are required to find: Which line belongs to VAT basics. Write that as a symbol on the left, with a question mark, before you touch a formula. Calculate: What we need to calculate: Do not take 15% of a price that already includes VAT. Then substitute the given, one line at a time, to get Which line belongs to VAT basics.
  Why this step: Do not name the letters yet. First hunt: what already has a number (Given), what has no number (Missing), the word the paper wants (Find), and which formula still contains the missing letter (Calculate).
3. 03 / 08
  Step B — Write the given in a column
  Copy these onto the left of your page, one per line, with units: 15%. Mixing cm with m, or minutes with seconds, loses a method mark.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
4. 04 / 08
  Step C — Name the method in words
  Do not take 15% of a price that already includes VAT.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
5. 05 / 08
  Working
  Do not take 15% of a price that already includes VAT.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
6. 06 / 08
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
7. 07 / 08
  Step F — Box the answer with its unit
  Do not take 15% of a price that already includes VAT.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
8. 08 / 08
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Do not take 15% of a price that already includes VAT.
Copy onto your answer sheet — in this order
Answer: Do not take 15% of a price that already includes VAT.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
25 · 3 Marks · Journals and source documents
Draw the situation for Journals and source documents. The source document is a cheque counterfoil for stationery for R1400. Which journal is it entered in, which account is debited, and which account is credited?
Formulas
Source document→journal→ledger
The document names the journal, and the journal names the accounts
Notes: Given: a cheque counterfoil for stationery, R1400. Missing: the journal and the two accounts.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Draw the situation for Journals and source documents. The source document is a cheque counterfoil for stationery for R1400. Which journal is it entered in, which account is debited, and which account is credited?
In other words — as if you have never seen this before
The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
2. What do we already know?
Given: a cheque counterfoil for stationery, R1400. Missing: the journal and the two accounts.
3. Which method — and why this one?
The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
4. Step-by-step working
1. 01 / 07
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 07
  Step B — Write the given in a column
  Given: a cheque counterfoil for stationery, R1400. Missing: the journal and the two accounts.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
3. 03 / 07
  Step C — Name the method in words
  The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
4. 04 / 07
  Working
  The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books. The debit and the credit are the same amount, and the journal matches the document.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Document: a cheque counterfoil for stationery for R1400. Journal: Cash payments journal. Debit Stationery R1400. Credit Bank R1400.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Document: a cheque counterfoil for stationery for R1400. Journal: Cash payments journal. Debit Stationery R1400. Credit Bank R1400.
Copy onto your answer sheet — in this order
Answer: Document: a cheque counterfoil for stationery for R1400. Journal: Cash payments journal. Debit Stationery R1400. Credit Bank R1400.
6. Check it like a marker
The debit and the credit are the same amount, and the journal matches the document.
7. A trap first-timers fall into
Do not enter this in the cash receipts journal.
26 · 2 Marks · Financial statements of a sole trader
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses. What is the point of Financial statements of a sole trader?
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses. What is the point of Financial statements of a sole trader?
In other words — as if you have never seen this before
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
3. Which method — and why this one?
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 07
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 07
  Step B — Write the given in a column
  Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
3. 03 / 07
  Step C — Name the method in words
  Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
4. 04 / 07
  Working
  Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
Copy onto your answer sheet — in this order
Answer: Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
27 · 2 Marks · Accounting equation
A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created. What is the point of Accounting equation?
Formulas
A=OE+L
Assets equal owner's equity plus liabilities
Notes: A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created. What is the point of Accounting equation?
Before any working — hunt first
Given
Numbers and units already in the sentence: no numbers yet — only a name, a diagram, or a worded unknown. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: What is the point of Accounting equation. Circle that word — that is the missing variable.
Find
We are required to find: What is the point of Accounting equation. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
What we need to calculate: A cash purchase swaps one asset for another. Then substitute the given, one line at a time, to get What is the point of Accounting equation.
In other words — as if you have never seen this before
A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
2. What do we already know?
A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
3. Which method — and why this one?
A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
4. Step-by-step working
1. 01 / 08
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 08
  Step A2 — Hunt: Given, Missing, Find, Calculate
  Given: Numbers and units already in the sentence: no numbers yet — only a name, a diagram, or a worded unknown. Copy each one into a column. A name without a number is not given. Missing: After you copy the given, the letter that still has no number is missing. The paper is pointing at: What is the point of Accounting equation. Circle that word — that is the missing variable. Find: We are required to find: What is the point of Accounting equation. Write that as a symbol on the left, with a question mark, before you touch a formula. Calculate: What we need to calculate: A cash purchase swaps one asset for another. Then substitute the given, one line at a time, to get What is the point of Accounting equation.
  Why this step: Do not name the letters yet. First hunt: what already has a number (Given), what has no number (Missing), the word the paper wants (Find), and which formula still contains the missing letter (Calculate).
3. 03 / 08
  Step B — Write the given in a column
  A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
4. 04 / 08
  Step C — Name the method in words
  A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
5. 05 / 08
  Working
  A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
6. 06 / 08
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
7. 07 / 08
  Step F — Box the answer with its unit
  A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
8. 08 / 08
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
Copy onto your answer sheet — in this order
Answer: A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
28 · 2 Marks · Accounting equation
A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created. Which line belongs to Accounting equation?
Formulas
A=OE+L
Assets equal owner's equity plus liabilities
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: A cash purchase swaps one asset for another. Owner's equity does not change, and no liability is created. Which line belongs to Accounting equation?
In other words — as if you have never seen this before
Do not debit an expense, and do not credit capital a second time.
2. What do we already know?
Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
3. Which method — and why this one?
Do not debit an expense, and do not credit capital a second time.
4. Step-by-step working
1. 01 / 07
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 07
  Step B — Write the given in a column
  Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
3. 03 / 07
  Step C — Name the method in words
  Do not debit an expense, and do not credit capital a second time.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
4. 04 / 07
  Working
  Do not debit an expense, and do not credit capital a second time.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Do not debit an expense, and do not credit capital a second time.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Do not debit an expense, and do not credit capital a second time.
Copy onto your answer sheet — in this order
Answer: Do not debit an expense, and do not credit capital a second time.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
29 · 2 Marks · Journals and source documents
The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books. Which line belongs to Journals and source documents?
Formulas
Source document→journal→ledger
The document names the journal, and the journal names the accounts
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: The source document chooses the journal. Cash in, cash out, credit sale and credit note are four different books. Which line belongs to Journals and source documents?
In other words — as if you have never seen this before
Do not enter this in the cash receipts journal, because no cash arrived.
2. What do we already know?
Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
3. Which method — and why this one?
Do not enter this in the cash receipts journal, because no cash arrived.
4. Step-by-step working
1. 01 / 07
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 07
  Step B — Write the given in a column
  Copy these onto the left of your page, one per line, with units: every number and its unit in the sentence. Mixing cm with m, or minutes with seconds, loses a method mark.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
3. 03 / 07
  Step C — Name the method in words
  Do not enter this in the cash receipts journal, because no cash arrived.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
4. 04 / 07
  Working
  Do not enter this in the cash receipts journal, because no cash arrived.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
5. 05 / 07
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
6. 06 / 07
  Step F — Box the answer with its unit
  Do not enter this in the cash receipts journal, because no cash arrived.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
7. 07 / 07
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Do not enter this in the cash receipts journal, because no cash arrived.
Copy onto your answer sheet — in this order
Answer: Do not enter this in the cash receipts journal, because no cash arrived.
6. Check it like a marker
Does your answer appear as one of the options? Do the units match what was asked (m, N, J, °)? If you put the number back into the original equation, does it still hold? Estimate: is the size sensible?
7. A trap first-timers fall into
First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”
30 · 3 Marks · Financial statements of a sole trader
Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R6000. Calculate gross profit and net profit.
Formulas
Gross profit=Sales−Cost of sales
Then subtract expenses to reach net profit
Notes: Given: sales R48000, cost of sales R28800, expenses R6000. Missing: gross profit and net profit.
How we got there
Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.
Explain in another language · 11
1. What is the question asking?
Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: Draw the situation for Financial statements of a sole trader. Sales are R48000, cost of sales is R28800 and operating expenses are R6000. Calculate gross profit and net profit.
Before any working — hunt first
Given
Numbers and units already in the sentence: R48000 · R28800 and · R6000. Copy each one into a column. A name without a number is not given.
Missing
After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable.
Find
We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula.
Calculate
What we need to calculate: Gross profit is sales minus cost of sales. Then substitute the given, one line at a time, to get gross profit and net profit.
In other words — as if you have never seen this before
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
2. What do we already know?
Given: sales R48000, cost of sales R28800, expenses R6000. Missing: gross profit and net profit.
3. Which method — and why this one?
Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
4. Step-by-step working
1. 01 / 08
  Step A — Read the question twice
  Slow down. Circle the word that names the unknown. Underline every number and its unit. Do not grab a formula yet — first decide what the paper is actually asking.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
2. 02 / 08
  Step A2 — Hunt: Given, Missing, Find, Calculate
  Given: Numbers and units already in the sentence: R48000 · R28800 and · R6000. Copy each one into a column. A name without a number is not given. Missing: After you copy the given, the letter that still has no number is missing. The paper is pointing at: gross profit and net profit. Circle that word — that is the missing variable. Find: We are required to find: gross profit and net profit. Write that as a symbol on the left, with a question mark, before you touch a formula. Calculate: What we need to calculate: Gross profit is sales minus cost of sales. Then substitute the given, one line at a time, to get gross profit and net profit.
  Why this step: Do not name the letters yet. First hunt: what already has a number (Given), what has no number (Missing), the word the paper wants (Find), and which formula still contains the missing letter (Calculate).
3. 03 / 08
  Step B — Write the given in a column
  Given: sales R48000, cost of sales R28800, expenses R6000. Missing: gross profit and net profit.
  Why this step: A column with units stops you mixing cm with m, or minutes with seconds. Markers can also see you started correctly.
4. 04 / 08
  Step C — Name the method in words
  Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses.
  Why this step: If you can say the method in a sentence, you will pick the right formula. First-timers skip this and grab the first equation they remember.
5. 05 / 08
  Working
  Gross profit is sales minus cost of sales. Net profit is gross profit minus operating expenses. Net profit is smaller than gross profit by exactly the expenses.
  Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.
6. 06 / 08
  Step G — Sense-check the size
  Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.
  Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.
7. 07 / 08
  Step F — Box the answer with its unit
  Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R6000 = R13200.
  Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.
8. 08 / 08
  Step H — What the marker is looking for
  On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.
  Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.
5. The answer
Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R6000 = R13200.
Copy onto your answer sheet — in this order
Answer: Gross profit = R48000 − R28800 = R19200. Net profit = R19200 − R6000 = R13200.
6. Check it like a marker
Net profit is smaller than gross profit by exactly the expenses.
7. A trap first-timers fall into
Do not subtract expenses before cost of sales and still call the result gross profit.