(iii) State another name for an opening statement. [1] ……………………………………………………………………………………… (b) (i) Define the term depreciation? ……………………………………………………………………………………… [2] ……………………………………………………………………………………… (ii) State the two methods used for calculating depreciation. Method 1 [1] ………….…………………………………………………………………………. Method 2 [1] …………………………………………………………………………………….. (iii) Complete the table below by naming the appropriate book of first entry in which the following transactions would be recorded. Transactions Book of first entry (a) Goods taken by proprietor for own use. ……………………………………………… (b) received from Otto motors for proprietor’s private car repairs. ……………………………………………… (c) Motor van bought by cheque. ……………………………………………… (d) Deposited cash in the bank account. ……………………………………………… (d) Bought goods for resale on credit from Zizwe suppliers. ……………………………………………… [5] [Total:22]
(iii) State another name for an opening statement. ……………………………………………………………………………………… [1] (b) (i) Define the term depreciation? ……………………………………………………………………………………… ……………………………………………………………………………………… [2] (ii) State the two methods used for calculating depreciation. Method 1 ………….…………………………………………………………………………. [1] Method 2 …………………………………………………………………………………….. [1] (iii) Complete the table below by naming the appropriate book of first entry in which the following transactions would be recorded. Transactions Book of first entry (a) Goods taken by proprietor for own use. (b) received from Otto motors for proprietor’s private car repairs. (c) Motor van bought by cheque. (d) Deposited cash in the bank account. (d) Bought goods for resale on credit from Zizwe suppliers. ……………………………………………… ……………………………………………… ……………………………………………… ……………………………………………… ……………………………………………… [5] [Total:22]
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