give feedback for experience of setting a Control Test. Supply constructive feedback on the test. Point out some positive aspects of the task as well as some corrections you had to make to the test before the Grade 10s could write it (spelling errors, incorrect Accounting terminology used, layout, mark allocation, etc). Corrections or changes to the test are to be indicated in a different colour or highlighted.

Test

Acccounting test 6.09 Marks: 54 Time: 20 minutes Pete Pine is the owner of Pine Stores. He has never understood Accounting too well, so he has approached you to assist him complete the following year end adjustment for the year ended 31 July 2019. Using the information and totals given below you must complete the general journal for Pete. No narrations are needed expect for entry number 6. Loan (11% p.a): R 42000Rent income: R 57200 Trading stock R 34625 Adjustments and information: 1.The telephone account for July of R 940 had not yet been paid. 2. The tenant was required to pay rent one month in advance and, as a result, has paid the August rental. 3. An annual insurance premium of R 2700 was paid on 1 January 20019. 4. Interest on the fixed deposit of R 300 is due. 5. Interest on the loan for the last three months is due. 6. Sadly one of the business debtors died and her estate will pay 40 cents in the rand. This money will be received in the next month or two. Her total debt was R 880. Write off the balance of her account. 7. An invoice was entered in the creditors journal for R 3400 and this was for trading stock. Upon investigasion it was noticed that the owner had taken R 350 of this stock for his own use. Correct the error 8. During a break in at the shop, stock to the value of R 2400 was stolen. The insurance company has agreed to cover 75% of the loss and the cheque is expected in August. 9. The annual stock take revealed: Trading stock on hand of R 31300 Unused stationery of R 370 10. A debtor Mr Jules is 3 months overdue on his account of R 800 and he is to be charged interest of 15% p.a. 12. Rates and taxes of R 1200 have not yet been been paid. 13. A R/D cheque was received from the bank and the amount was R 940. It was noted that this cheque had been in full settlement of the account of R1000. The bookkeeper did not know what to do with this and hence no entry has been made.