Financial Accounting N5 — Document

June 2018 — N5 — Financial Accounting

N5 2018 Nated Business

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🎯 2 marks ⏱️ 3h 📄 8 pages 📝 50 items found 📚 6 topics

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Q1— Section header —

6.1If a partner has made a loan to the partnership, interest on the loan must be calculated at the end of the financial period.

6.2Interest on capital and current accounts must be calculated at 15% per annum.

6.3Interest on drawings must be calculated at 20% per annum as if the drawing was for four months.

6.4R. River receives a salary of R7 000 00 at the end of the financial period.

6.5A bonus of R3 000 00 has been approved for S. Sand.

6.6Create general reserv e of R5 000 00

6.7The remaining profit /loss must be distributed between the partners in the same ratio as their capital. REQUIRED Prepare the income statement and appropriation statement of River Sand Traders for

Q2— Section header —

2.1Head office account (8\

2.2Bank (9\

2.3Debtors control (4\

2.4Creditors control (4\

2.5Trading account (7\

2.6Profit and loss (8\ Merchandise from head office to branch at cost 145 300 Merchandise purchased by bran ch: Cash 35 280 Credit

Q3— Section header —

3.1LIFO (26\

3.2Average cost price

Q4— Section header —

4.1On 28 March 2017 DD Distributors f ound that the following errors had been made during the month: March 201 14

4.2The following p ost of the losing tria l balance of Sara 's Store wa s submitted

Q5— Section header —

5.1Gross profit percentage

5.2Net profit percentage

5.3Current ratio

5.4Acid test ratio

5.5Stock turnover rate

5.630

Q1— Section header —

Q2— Section header —

Q3— Section header —

Q4— Section header —

Q5— Section header —

Q1— Section header —

Q2— Section header —

2.1HEAD OFFICE ACCOUNT (8\

2.2BANK ACCOUNT (9\ 4010175 N560

2.3DEBTORS CONTROL (4\

2.4CRED ITORS CONTROL (4\

2.5TRADING ACCOUNT (7\

2.6PROFIT AND LOSS ACCOUNT (8\ [40] 401017540

Q3— Section header —

3.1LIFO METHOD DATE RECEIPTS ISSUED STOCK ON HAND TOTAL TO DATE UNITS @ R AMOUNT

Q4— Section header —

4.1DATE DETAILS DEBIT CREDIT (6\

4.2BALANCE SHEET OF SARA 'S STORE ON 31 APRIL 201 Notes ASSETS (12\ 4010175

Q5— Section header —

5.24010175 N560 (E\ (J11\H

5.44010175 10 N560 (E\ (J11\H

5.630

Topics Identified

DepreciationInventoriesFinancial StatementsPartnershipsDebtors ControlCreditors Control

Mark Allocation

Total200 marks

Sections50 + 40 + 40 + 40 + 30 + 50 + 40 + 40 + 30 + 30 = 390 marks

Paper information

TitleDocument

SubjectFinancial Accounting

LevelN5

Document typeQuestion paper

Year2018

MonthJune

Pages18

Downloads6

Examination context

Decade2010s

Years ago8y

SeasonWinter (SH)

Start dayFriday

Exam periodJune 2018

Days since exam3,053

About Financial Accounting examination preparation

TVET Financial Accounting tests bookkeeping, financial statements, and interpretation of financial data. The examination covers journals, ledgers, and financial statement preparation.

How to use this resource for revision

A TVET past examination paper is most useful when it is treated as an active revision exercise. Try the questions yourself before checking the corresponding memorandum. Where you make an error, identify the reason — was it a knowledge gap, a calculation mistake, an interpretation issue, or an examination technique problem?

For stronger examination practice, complete the paper without unnecessary interruptions and keep track of the questions that take the most time. Afterwards, review the memorandum and separate knowledge gaps from mistakes caused by interpretation, calculation, structure, or examination technique.

accurate accounting calculations

interpreting financial information

applying accounting principles

presenting structured answers

checking numerical accuracy

A practical revision approach

Accounting rewards presentation discipline — the memorandum allocates method marks on a per-line basis. Keep working papers neat and label every calculation.

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File size407.4 KB

Pages18

Archived on8 September 2026

File age45d

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