Financial Accounting N5 — Document

June 2019 — N5 — Financial Accounting

N5 2019 Nated Business

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🎯 2 marks ⏱️ 3h 📄 9 pages 📝 32 items found 📚 6 topics

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Q1— Section header —

1.1Katsande and Negomash are in partnership , trading as KZ Stores. The partnership agreement stipulate the following: Trial alance of KZ Stores for the year ending 28 February 2

Q2— Section header —

2.1Provide journal en tries for the following transactions relat ed to branch. Write a narration for each entry.

2.1.1On 5 January 2017 the branch bought stock of R25 000 00 on credit from J Smith. (The branch uses a decentralised system

2.1.2Debtor S Swa nepoel paid R4 300,00 on his account on 17 January 2017 (The branch uses a decentralised system

2.1.3On 25 January 2017 stock of R5 300 00 was sold on credit to debtor R Nel

2.1.4The b ranch returned stock with cost price of R2 400,00 and selling price of R3 000,00 to head o

2.1.5On 30 June 2017 head office paid wages of R60 700,00 on behalf of the bra nch (The branch uses a centralised system

2.2The head office supplie all stock to its branch at selling price which is cost plus 100%. ALL money received is deposited into the head office bank account. From the information given below , s

2.2.1Branch stock account (9\

2.2.2Branch adjustment account (7\

2.2.3Branch petty cash account (8\ 4010175\ Copyright reserved Please turn over

Q3— Section header —

3.1The following is summary of product YX 501. Show the stock card of ONE of the products sold by L Kotzee in May 2017 according to the FIFO method. 1 May

3.2Do the different calculations as indicated in your ANSWER BOOK. Show ALL the calculations.

3.2.1dealer sold an item for R805,00 and incurred a loss of 5%. Calculate the cost price and the loss. (5\

3.2.2The cost price of an item was R80,00. What should the dealer's mark up price have been to make a profit of 25% after discount of 8% ha

3.2.3The dealer uses EDUCATIONS as his code price Indicate the code price if the cost price of his item is R1

3.2.4The item was sold at a profit of 100% plus cost price of R450,00 alculate the selling price of the item. (3\ [40]40

Q4— Section header —

4.1Debtors control account (15\

4.2Creditor s control account (12\

4.3Vehicle account (4\

4.4Accumulated depreciation on vehicle account (5\

4.5Assets disposal account (4\ 4010175\ Copyright reserved Please turn over

Q5— Section header —

5.1Acid test ratio

5.2Average collection period for debtors

5.3Gross profit percentage on turnover

5.4Stock tu rnover rate

5.530

Topics Identified

DepreciationInventoriesFinancial StatementsPartnershipsDebtors ControlCreditors Control

Mark Allocation

Total200 marks

Sections50 + 40 + 40 + 40 + 30 = 200 marks

Paper information

TitleDocument

SubjectFinancial Accounting

LevelN5

Document typeQuestion paper

Year2019

MonthJune

Pages9

Downloads3

Examination context

Decade2010s

Years ago7y

SeasonWinter (SH)

Start daySaturday

Exam periodJune 2019

Days since exam2,690

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 size257.9 KB

Pages9

Archived on8 September 2026

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