BTB
BTB
BTB
to Trial Balance
(BKTB)
QUESTION PAPER
ASSIGNMENT 1: 3 QUESTIONS
ASSIGNMENT 2: 1 QUESTION
ASSIGNMENT 3: 7 QUESTIONS
INSTRUCTIONS:
1. ICB Assignments form part of the formative mark and are to be completed in an open book environment.
2. This Question Paper Book contains all the questions for Assignments 1, 2 and 3.
3. All questions are to be completed in the Assignment Answer Book provided in your Portfolio of Evidence (PoE).
4. Check that you have the correct number of pages.
5. Please be neat, as illegible handwriting cannot be marked. You must write in blue or black ink. In practice it is
unacceptable for Bookkeepers to use correcting fluid (Tipp-ex). Marks will be deducted for the use of correction fluid.
6. All questions must be completed.
7. This question paper must NOT be returned to the ICB. You must retain this Assignment Question Paper Book.
8. Upon completion of your final exam:
(i) Paper PoE - include your Assignment Answer Book in your PoE. The entire PoE must be handed in for marking by the
ICB.
(ii) Digital PoE – your Tests and Assignments will be retrieved for marking directly off Macci.
BKTB-ICBASG–QP-2019.v1 Page 1 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
ASSIGNMENT 1
PART A
Complete the following table as it appears in your Portfolio of Evidence (PoE), by completing the account names
and marking the appropriate column with an X.
Type of account
Name of account Non-current Non-current Proprietary
Current asset Current liability Income Expense
asset liability account
E.g. Equipment X
Rates and amenities
Commission received
Fixed deposit (maturity in
excess of 12 months)
Capital
Mortgage loan
Discount allowed
Drawings
Debtors control
Bank overdraft
Discount received
PART B
Complete the following table as it appears in your PoE, by marking the correct block at each supply listed.
Assume that a business acquires the considerations listed and that the business itself was invoiced in all
instances. Where applicable, assume that all parties dealt with are registered VAT vendors and that the VAT Act
has been adhered to in all instances.
BKTB-ICBASG–QP-2019.v1 Page 2 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Complete the following table as it appears in your PoE. The scenarios listed should be interpreted from the point
of view of The Light Factory, a lighting and electrical retailer. Assume a standard VAT rate of 15 %. The following
information relates to one standing lamp:
BKTB-ICBASG–QP-2019.v1 Page 3 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
The following are miscellaneous transactions for Sliced Lemon for March 2019. Ignore VAT. The business uses
the perpetual inventory method with a mark-up of 25 % on cost.
6 The owner took clothing from stock for personal use, selling price = R 775.00.
9 Paid the Kings Municipal Council the business water and electricity bill by cheque, R 1 450.00.
13 Purchased trading inventory on credit from Hidding CC, R 32 500.00.
14 Cash sales of trading inventory, selling price = R 925.00.
25 Credit sales of trading inventory, selling price = R 2 250.00.
28 A debtor returned some of the goods purchased from Sliced Lemon on 25 March. The cost price of the
goods was R 800.00.
Required:
Show how the above transactions will affect the accounting equation and enter how the accounts in the general
ledger will be affected. Example: Received a capital contribution of R 205 000.00 in the form of cash:
Dr Bank Cr Capital
BKTB-ICBASG–QP-2019.v1 Page 4 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
ASSIGNMENT 2
You are the bookkeeper of Pitso Industries. The business is a registered VAT vendor and trades only with
registered VAT vendors (unless otherwise specified). The business charges 15% VAT on all its sales. All
amounts are inclusive of VAT unless VAT is not applicable. As the bookkeeper you have been provided with the
source documents for the month of February 2019, which are necessary for the preparation of the journals
specified below. The business uses the periodic inventory system and trading inventory is marked up by 60 % on
cost price (before any given trade discounts) unless otherwise specified. ‘IV’, ‘OCT’, ‘CC’ and ‘JR’ are the source
document codes below for re-numbered original invoices, re-numbered original credit notes, cheque counterfoils
and journal vouchers respectively.
Source
Date Details Description Amount (R)
document no.
1 Polland Traders IV241 Trading inventory purchased. 29 750.00
4 Tall Fountain Mall CC536 Payment for business parking (Motor vehicle expenses). 612.50
5 Polland Traders OCT197 Trading inventory returned to the supplier. 2 677.50
8 Cash CC537 Drew a cash cheque for petty cash. 10 500.00
Payment on account to Polland Traders. No settlement discount was received
9 Polland Traders CC538 because the account was not paid in full. (Balance owing at the beginning of 25 228.00
the month: R 4 463.00).
11 Smackdown Traders CC539 Trading inventory purchased. 42 735.00
11 Tinderbox Pty Ltd IV242 Trading inventory purchased. 32 200.00
William Pitso contributed a delivery vehicle to the business. (All legislative
12 William Pitso (The owner) JR253 89 075.00
requirements have been met for the full VAT amount to be claimed).
13 V. Macmahon CC540 Trading inventory purchased: R 40 894.74 less a 5 % trade discount. ?
13 CDR Computers IV243 Purchase of office consumables. 1 190.00
14 Artline Stationers CC541 Cash purchase of files (Postage and stationery). 5 250.00
16 Tinderbox Pty Ltd OCT198 Trading inventory returned to the supplier. 3 220.00
Purchased a flat screen TV and DVD player for the staff room (Staff
16 RomRam Computers IV244 6 545.00
equipment).
16 RomRam Computers IV245 Purchased a laptop for the sales representative (Office equipment). 10 339.00
18 Game CC542 Purchased a microwave for staff room (Staff equipment). 7 350.00
Settlement of account with Tinderbox Pty Ltd, less 5 % settlement discount.
20 Tinderbox Pty Ltd CC543 ?
(Balance owing at the beginning of the month: R 5 796.00).
5 % settlement discount received from Tinderbox Pty Ltd for settlement of the
20 Tinderbox Pty Ltd JR254 ?
account. (Refer to cheque no. CC543).
21 Cash CC544 Drawings by the owner. 4 200.00
21 William Pitso JR255 Drawings of trading inventory with a selling price including VAT of R 1 750.00. ?
21 RomRam Computers OCT199 A rebate was granted on the TV purchased on 16 February. 167.55
21 Roundtrack Industries IV246 Trading inventory purchased: R 5 043.01 less a 7 % trade discount. ?
24 PRINT CC IV247 Printing costs charged on account. 7 549.15
25 Starfish Equipment CC545 Cash purchase of storeroom shelving (Furniture and fittings). 21 000.00
BKTB-ICBASG–QP-2019.v1 Page 5 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Source
Date Details Description Amount (R)
document no.
26 Linkin Park Industries CC546 Trading inventory purchased. 47 775.00
27 CDR Computers OCT200 Defective office consumables returned to the supplier. 261.80
28 Roundtrack Industries OCT201 Received for trading inventory returned to the supplier. 539.35
Sammy Jones (A Non-VAT
28 IV248 Repairs and maintenance charged on account. 1 435.00
vendor)
28 Silent Bob's Garage CC547 Payment for business petrol. 3 850.00
28 Cash CC548 Drew a cash cheque to pay the monthly wages. 8 960.00
Interest charged by Roundtrack Industries on the overdue account of Pitso
28 Roundtrack Industries JR256 350.00
Industries.
It was realised that office equipment purchased for R 7 854.00 during January
28 N/A JR257 2019 was erroneously debited to the office consumables account. Correct the ?
error.
Required:
Use the relevant transactions from those given above to complete (a) to (d) for Pitso Industries for the month of
February 2019.
(a) Creditors journal (CJ2). Mark clearly how the different amounts or totals will be posted to the general ledger
at month-end.
(b) Creditors allowances journal (CAJ2). Mark clearly how the different amounts or totals will be posted to the
general ledger at month-end.
(c) Cashbook payments (CBP2). Mark clearly how the different amounts or totals will be posted to the general
ledger at month-end. Settlement discounts are recorded in the general journal.
(d) General journal (GJ2).
Note:
• Mark clearly on the creditors journal, creditors allowances journal and cashbook payments how the different
amounts or totals will be posted to the general ledger at the end of the month.
• Original invoices and original credit notes have been renumbered.
• All amounts are INCLUSIVE of VAT, unless VAT is not applicable.
BKTB-ICBASG–QP-2019.v1 Page 6 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
ASSIGNMENT 3
The following are miscellaneous transactions for Inka Traders for April 2019. The business is a registered VAT
vendor and trades only with registered VAT vendors who can provide tax invoices. The business charges 15 %
VAT on all its sales. All amounts are inclusive of VAT unless VAT is not applicable. The business uses the
periodic inventory method. The business makes use of separate VAT input and VAT output accounts.
Required:
Show how the above transactions will affect the accounting equation and enter how the accounts in the general
ledger will be affected. See the example below. Example: Received a mortgage loan of R 500 000.00 in the form
of cash:
BKTB-ICBASG–QP-2019.v1 Page 7 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
You are the bookkeeper of Letsin Industries. The business is a registered VAT vendor and trades only with
registered VAT vendors. The business charges 15 % VAT on all its sales. All amounts are inclusive of VAT
unless VAT is not applicable. As the bookkeeper, you have been provided with ONLY the source documents for
the month of January 2019 necessary for the preparation of the journals specified below. The business uses the
perpetual inventory system, and, unless otherwise stipulated, marks all their goods up at 55 % on cost before any
trade discounts (where applicable). ‘CINV’, ‘DCR’, ‘DS’, ‘DR’, ’JV’ and ‘PCV’ are the source document codes
below for duplicate invoices, duplicate credit notes, duplicate cash slips, duplicate receipts, journal vouchers and
petty cash vouchers respectively.
BKTB-ICBASG–QP-2019.v1 Page 8 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Required:
Use the relevant transactions from those given above to complete (a) to (f) for the month of January 2019.
(a) Debtors journal (DJ1) with analysis columns for debtors control, VAT, sales and cost of sales. Mark clearly
how the different amounts or totals will be posted to the general ledger at month-end.
(b) Debtors allowances journal (DAJ1) with analysis columns for debtors control, VAT, sales returns and cost
of sales. Mark clearly how the different amounts or totals will be posted to the general ledger at month-end.
(c) Cashbook receipts (CBR1) with analysis columns for bank, debtors control, VAT output, sales, sundries
and cost of sales. Mark clearly how the different amounts or totals will be posted to the general ledger at
month-end. Settlement discounts are recorded in the general journal. Cash is banked on a daily basis.
(d) Petty cash journal (PCJ1) with analysis columns for petty cash, postage and stationery, staff refreshments
VAT and sundries. Mark clearly how the different amounts or totals will be posted to the general ledger at
month-end.
(f) Open, post to and balance the following accounts in the general ledger:
• Sales account (N1): Opening balance on 1 January 2019 - R 503 250.00
• Sales returns account (N2): Opening balance on 1 January 2019 - R 60 390.00
Note:
• Mark clearly on the debtors’ journal, debtors’ allowances journal, cashbook receipts and the petty cash journal
how the different amounts or totals will be posted to the general ledger at the month-end. Clearly specify
whether the VAT column is VAT input or VAT output.
• All amounts are INCLUSIVE of VAT, unless VAT is not applicable.
BKTB-ICBASG–QP-2019.v1 Page 9 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Bubble Industries uses a periodic inventory system. The business is a registered VAT vendor, and it is the policy
of the business to buy only from other vendors who are able to provide tax invoices. June 2019 is the business’s
third month of trading and the following list of balances appeared on their books on 1 June 2019:
Additional information:
The following transaction codes are used in the creditors ledger by Bubble Industries:
BKTB-ICBASG–QP-2019.v1 Page 10 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Creditors Sundries
Doc. no. Date Name of payee Fol. Bank VAT input Purchases
control Amount Fol. Details
CC541 1 Cash 629.00 629.00 Salary
CC542 5 Cell Q 1 237.02 161.35 1 075.67 Telephone
CC543 10 Glassglow Industries C1 33 871.38 33 871.38
CC544 20 Vivid Municipality 1 111.22 144.94 966.28 Electricity
CC545 25 Branch Traders C2 1 729.74 1 729.74
CC546 27 Triton Industries 23 823.19 3 107.37 20 715.82
62 401.55 35 601.12 3 413.66 20 715.82 2 670.95
BKTB-ICBASG–QP-2019.v1 Page 11 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Required:
(a) Open, post to and balance the creditors control account (B7) in the general ledger of Bubble Industries for
June 2019.
BKTB-ICBASG–QP-2019.v1 Page 12 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
The following information was taken from the books of Maqwa Store for August and September 2019:
Table of items appearing on the bank reconciliation statement of Maqwa Store as at 31 August 2019
Details Amount (R)
Balance as per bank statement (unfavourable) (89 541.20)
Outstanding cheque: CC524 (1 959.78)
Outstanding cheque: CC810 (3 919.55)
Outstanding cheque: CC811 (5 879.33)
Outstanding deposit: DS732 (3 429.61)
Correction of bank error on cheque CC605 where Asterix Bank understated the amount of the cheque on the bank statement (4 899.44)
Balance as per bank account (unfavourable) (102 769.69)
BKTB-ICBASG–QP-2019.v1 Page 13 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Bank statement from Asterix Bank for Maqwa Store - September 2019
Date Description Debit (R) Credit (R) Balance (R)
1 Balance 89 541.20 Dr
1 CC811 5 879.33 95 420.53 Dr
1 Deposit 3 429.61 91 990.92 Dr
1 Correction of error on: CC605 4 899.44 96 890.36 Dr
1 Deposit 27 411.62 69 478.74 Dr
2 CC812 7 212.76 76 691.50 Dr
4 CC813 2 704.79 79 396.29 Dr
6 Deposit 30 022.25 49 374.04 Dr
7 CC814 200.53 49 574.57 Dr
7 Bank statement fees 455.65 50 030.22 Dr
7 Direct deposit - D. Haywood 3 930.53 46 099.69 Dr
11 CC815 5 409.58 51 509.27 Dr
12 Deposit 10 442.52 41 066.75 Dr
12 Transaction fees 187.35 41 254.10 Dr
14 CC816 601.06 41 855.16 Dr
14 CC816 601.06 42 456.22 Dr
15 R/D - V. Groove 10 442.52 52 898.74 Dr
19 CC817 2 404.26 55 303.00 Dr
19 Deposit 22 440.36 32 862.64 Dr
21 Direct deposit - E. Redford 7 839.11 25 023.53 Dr
23 CC818 3 305.85 28 329.38 Dr
23 Government levy 306.31 28 635.69 Dr
26 CRD120 2 841.68 31 477.37 Dr
27 CC819 1 502.66 32 980.03 Dr
28 Interest on overdraft 894.64 33 874.67 Dr
30 Debit order - Recall 4 899.44 38 774.11 Dr
30 Debit order - More Time Insurance 8 943.64 47 717.75 Dr
BKTB-ICBASG–QP-2019.v1 Page 14 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Additional information:
Required:
Use the information taken from the books of Maqwa Store to complete the following for September 2019:
(a) Record any differences identified in the bank reconciliation process in a supplementary cashbook receipts
and payments with columns for details and amount. Begin with the totals before any amendments.
(b) Open, post to and balance the bank account (B10) in the general ledger.
(c) Compile the bank reconciliation statement as at 30 September 2019.
BKTB-ICBASG–QP-2019.v1 Page 15 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Below is the remittance advice sent to Footwear Industries on 31 December 2018 and the account of Footwear
Industries in the creditors ledger of Rumari Suppliers, together with an account statement received from Footwear
Industries (the statement was received in the post on 7 February 2019, which is the day the reconciling entries
are to be made). Both businesses are registered VAT vendors.
Rumari Suppliers
Footwear Industries
Statement for Debtor: Rumari Suppliers
Date Details Debit Credit Balance
1 Jan. 2019 Balance 111 365.99
Cheque CHQ499 - Payment, thank you 50 000.00 61 365.99
7 Jan. 2019 Cheque CHQ514 - Payment, thank you 61 365.99 0.00
11 Jan. 2019 Invoice INV214 137 763.20 137 763.20
21 Jan. 2019 Invoice INV268 220 641.76 358 404.96
25 Jan. 2019 Credit note CRN96 22 814.36 335 590.60
26 Jan. 2019 Cheque CHQ529 - Payment, thank you 277 760.40 57 830.20
30 Jan. 2019 Invoice INV295 123 731.76 181 561.96
BKTB-ICBASG–QP-2019.v1 Page 16 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
Additional information:
• Footwear Industries is correct with respect to Invoice INV214 and Invoice INV295.
• Rumari Suppliers is correct with respect to Credit note CRN96.
• Credit note CRN80 has not been taken into account by Footwear Industries.
• Invoice INV268 was incorrectly recorded by both Rumari Suppliers and Footwear Industries. The purchase
was subject to an advertised trade discount of 14 %, but only 12 % was recorded on the invoice.
• The settlement discount on Cheque CHQ529 is in accordance with the terms and conditions as laid out by
Footwear Industries and thus should have been allowed.
• Rumari Suppliers uses the following codes in their creditors ledger:
Note: Rumari Suppliers uses a perpetual inventory system. Start the general journal by issuing journal voucher
number JV288.
Required:
BKTB-ICBASG–QP-2019.v1 Page 17 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
The following incorrect trial balance appeared in the books of Mboya Traders on 31 January 2019. The business
makes use of a manual bookkeeping system and is a registered VAT vendor and deals only with other registered
VAT vendors. A standard VAT rate of 15 % applies. All amounts are inclusive of VAT unless indicated otherwise.
The business uses the perpetual method of inventory keeping and inventory is marked up by 50 % on cost price.
BKTB-ICBASG–QP-2019.v1 Page 18 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
i. Drawings by the owner of goods amounting to R 2 929.50 (selling price including VAT) was recorded by
debiting the cost of sales account and crediting the trading inventory account with the correct cost price
(exclusive of VAT). VAT output was correctly calculated and recorded.
ii. Office refreshments were purchased for R 229.77 from petty cash but VAT input was erroneously claimed
on the purchase. The transaction was also recorded in the cash book payments instead of the petty cash
journal.
iii. A payment for petrol (Fuel expense) out of cash float for R 418.00 has not been recorded as yet.
iv. The stationery column in the cashbook payments was undercast by R 725.58, and posted as such.
v. A new lathe (Machinery) purchased for R5 700.00 plus VAT was erroneously recorded in the office
equipment account. The VAT on this transaction was recorded correctly.
vi. The outstanding debt of a debtor must be written off as irrecoverable, R 689.30. Input VAT may be claimed
back from SARS on this credit loss.
Required:
Prepare a basic general ledger reconciliation statement for Mboya Traders as at 31 January 2019.
BKTB-ICBASG–QP-2019.v1 Page 19 of 20
BOOKKEEPING TO TRIAL BALANCE (BKTB)
ICB ASSIGNMENTS 1&2&3 QUESTION PAPER - APR 2019 TO MAR 2020
The following balances were taken from the books of Radix on 28 February 2019, the last day of the financial
year of the business:
Required:
(a) Prepare the trading and profit and loss accounts, clearly showing the gross profit and net profit
respectively.
(b) Draft a statement of financial position as at 28 February 2019. No notes are required.
BKTB-ICBASG–QP-2019.v1 Page 20 of 20