# Accounting Grade 11 Eastern Cape November 2013 Addendum > Grade 11 Accounting addendum from the Eastern Cape November 2013 (English), 15 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accn-gr11-nov2013-answerbook-eng/9ba50296-02aa-4616-a31e-6eafbf543fbd - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 11 - Document type: Addendum - Year: 2013 - Exam period: Eastern Cape November - Curriculum: CAPS - Pages: 15 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 11](https://www.hlayiso.com/library/grade-11) › [Accounting](https://www.hlayiso.com/library/grade-11/accounting) › [Accounting Grade 11 Eastern Cape November 2013 Addendum](https://www.hlayiso.com/library/accn-gr11-nov2013-answerbook-eng/9ba50296-02aa-4616-a31e-6eafbf543fbd) ## About this document Accounting · Grade 11 · Eastern Cape November · 2013. Addendum, 15 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 Downloaded from hlayiso.com SURNAME AND NAME: NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER 2013 ACCOUNTING ANSWER BOOK MARKS QUESTION MAX. MARKS MODERATION OBTAINED 1 50 2 100 3 40 4 30 5 35 6 45 TOTAL 300 __________________________________________ This answer book consists of 14 pages. __________________________________________ ### Page 2 Downloaded from hlayiso.com 2 ACCOUNTING (NOVEMBER 2013) QUESTION 1 RECONCILIATIONS (50 marks; 30 minutes) 1.1 Bank Reconciliation 1.1.1 CASH RECEIPTS JOURNAL OF BLITZ TRADERS – MARCH 2013 DOC SUNDRY DETAILS OF SUNDRY DAY DETAILS BANK NO. AMOUNTS ACCOUNTS 31 Total 22 250 10 CASH PAYMENTS JOURNAL OF BLITZ TRADERS – MARCH 2013 DOC SUNDRY DETAILS OF SUNDRY DAY NAME OF PAYEE BANK NO. AMOUNTS ACCOUNTS 31 Total 15 500 10 GENERAL LEDGER OF BLITZ TRADERS BANK (B6) 7 ### Page 3 Downloaded from hlayiso.com (NOVEMBER 2013) ACCOUNTING 3 BANK RECONCILIATION STATEMENT ON 31 MARCH 2013 DR CR 8 1.1.5 Suggest TWO ways in which the internal controls of the business can be improved so that situations like the missing R5 000 can be prevented. 4 1.1.6 Provide ONE advantage of making payments via the Internet. 2 1.2 Creditors Reconciliation 1.2.1 CREDITORS RECONCILIATION ON 31 MARCH 2013 BALANCE AS PER STATEMENT 27 440 9 50 ### Page 4 Downloaded from hlayiso.com 4 ACCOUNTING (NOVEMBER 2013) QUESTION 2 FINANCIAL STATEMENTS AND PARTNERSHIPS (100 marks; 60 minutes) 2.1.1 GENERAL LEDGER OF STAR TRADERS ASSET DISPOSAL ACCOUNT 8 2.1.2 Notes to the Balance Sheet TANGIBLE/FIXED ASSETS VEHICLES EQUIPMENT Cost (1 March 2012) Accumulated Depreciation (1 March 2012) CARRYING VALUE (1 March 2012) Movements: Additions at cost Disposal at carrying value Depreciation CARRYING VALUE (28 February 2013) Cost (28 February 2013) Accumulated Depreciation (28/02/13) 20 . TRADE AND OTHER RECEIVABLES Trade Debtors 6 ### Page 5 Downloaded from hlayiso.com (NOVEMBER 2013) ACCOUNTING 5 2.1.3 Star Traders Income Statement for the year ended 28 February 2013 GROSS PROFIT Other Income Gross Income Operating Expenses Bank Charges 4 560 Sundry Expenses 22 460 35 ### Page 6 Downloaded from hlayiso.com 6 ACCOUNTING (NOVEMBER 2013) 2.2.1 Calculate the missing amounts on the table provided (denoted by A to G). YOGA YASH TOTAL Partners salaries 64 800 46 200 111 000 Interest on Capital A: 7 500 Bonus - E: Total primary distribution B: D: C: Share in the remaining profit F: G: 14 820 Ratio: 11: 8 Net profit for the year ? ? 154 670 10 2.2.2 Calculate the following financial indicators: (a) Debt/Equity Ratio 3 (b) Percentage return earned by Yoga. (Use the average equity) 5 ` 2.2.3 Yoga feels that the business is in a sound liquidity position. Explain why you think he feels this way. Quote TWO financial indicators (with figures) to motivate your answer. 6 ### Page 7 Downloaded from hlayiso.com (NOVEMBER 2013) ACCOUNTING 7 2.2.4 Yash is not satisfied with her percentage return on equity compared to that of Yoga’s. Give ONE possible reason why she feels this way. Quote figures to motivate your response. 3 2.2.5 The business wants to expand their operations and have discussed extending the existing building. This venture is expected to cost R200 000. By looking at the financial statements and the indicators, suggest different ways in which this project can be financed. (Two points) 4 100 ### Page 8 Downloaded from hlayiso.com 8 ACCOUNTING (NOVEMBER 2013) QUESTION 3 CASH BUDGETS (40 marks; 24 minutes) 3.1 Calculate the percentage of goods sold on credit during February 2013. 4 3.2 Cash expected from debtors during March 2013: MONTHS CREDIT SALES WORKINGS MARCH 2013 January 75 200 February 50 400 March 78 400 CASH FROM DEBTORS 8 3.3 CASH BUDGET FOR MARCH 2013 RECEIPTS MARCH 2013 Cash Sales 19 600 TOTAL RECEIPTS PAYMENTS Bank charges 500 Operating expenses 18 000 TOTAL PAYMENTS SURPLUS/(SHORTFALL) Bank (Opening Balance) BANK (CLOSING BALANCE) 20 ### Page 9 Downloaded from hlayiso.com (NOVEMBER 2013) ACCOUNTING 9 3.4 The business intends to employ two additional shop assistants in April 2013, at the same salary of the existing employees. In your opinion, is this a wise decision? Motivate your answer by making use of figures from the information. . 4 3.5 Compare the actual figures for February 2013 against the budgeted amounts for March 2013. (Refer to point 14 of the information provided) Advise the owner on what he could do to improve the internal controls of any TWO items on the list. You do not need to quote any figures. 4 40 ### Page 10 Downloaded from hlayiso.com 10 ACCOUNTING (NOVEMBER 2013) QUESTION 4 CLUBS (30 marks; 18 minutes) 4.1.1 Calculate the total amount that is due by all members in respect of membership fees, for this financial year. (Income and expenditure amount) 7 GENERAL LEDGER OF CITY SPORTS CLUB 4.1.2 MEMBERSHIP FEES ACCOUNT 4.2 12 STATEMENT OF RECEIPTS AND PAYMENTS STATEMENT OF INCOME AND EXPENDITURE NO – 31 DECEMBER 2012 – 31 DECEMBER 2012 RECEIPTS PAYMENTS INCOME EXPENDITURE E.g. 800 600 11 30 ### Page 11 Downloaded from hlayiso.com (NOVEMBER 2013) ACCOUNTING 11 QUESTION 5 COSTING (MANUFACTURING CONCERNS) (35 marks; 21 minutes) 5.1 Place a cross (X) under the appropriate category for each of the items listed below. FACTORY ADMINISTRATION SELLING AND ITEM PRIME COST OVERHEADS COSTS DISTRIBUTION 5.1.1 Indirect materials 5.1.2 Advertising 5.1.3 Direct Labour 5.1.4 Factory Rent 5.1.5 Office Stationery 5 5.2.1 Calculate: a) The total fixed cost b) The total variable cost (2) (2) 4 5.2.2 Explain the concept “breakeven”. 2 5.2.3 Calculate the selling price at the breakeven point. Will Julius be satisfied with this break-even selling price? Explain. 7 ### Page 12 Downloaded from hlayiso.com 12 ACCOUNTING (NOVEMBER 2013) 5.3 GENERAL LEDGER OF TARGET PRODUCTS BALANCE SHEET ACCOUNTS WORK IN PROCESS STOCK (B8) 2012 2013 Mar 1 Balance b/d 10 200 Feb 28 38 420 Balance c/d 14 000 Direct labour cost 65 480 Factory Overheads 2013 Mar 1 Balance b/d 5 FINISHED GOODS STOCK (B9) 2012 2013 Mar 1 Balance b/d 0 Feb 28 2013 Feb 28 Balance c/d 2013 Mar 1 Balance b/d 7 FINAL ACCOUNTS TRADING ACCOUNT 2013 2013 Feb 28 Cost of Sales Feb 28 Sales 5 35 ### Page 13 Downloaded from hlayiso.com (NOVEMBER 2013) ACCOUNTING 13 QUESTION 6 VAT AND STOCK SYSTEMS (45 marks; 27 minutes) 6.1.1 Indicate whether the following statements are True or False. (a) (b) (c) (d) 8 6.1.2 (a) According to the information above, calculate the amount of VAT that City Cleaning Services will need to pay to SARS on 25th August 2013. (Show all calculations – do not show the final answer only.) 13 (b) As a registered accountant, you noticed that the owner, P. Mandla, inflated the cleaning materials account by R5 000.  Express your feelings about Mandla’s action, and explain what steps you would take. 4 ### Page 14 Downloaded from hlayiso.com 14 ACCOUNTING (NOVEMBER 2013) 6.2.1 GENERAL LEDGER OF JUBILEE STORES PURCHASES ACCOUNT (N4) 2013 Sep 30 Balance/total 684 240 Drawings 2 000 Creditors Allowances 10 350 7 6.2.2 Calculate the Gross profit earned by the business. (You may construct the Trading Account to calculate this amount) 8 6.2.3 Calculate the Gross profit percentage achieved. 3 6.2.4 Provide ONE suitable reason why the 50% mark-up on cost was not achieved. 2 45 TOTAL: 300 ### Page 15 Downloaded from hlayiso.com ## Related documents - [ACCN GR11 QP (Afr) NOV2013](https://www.hlayiso.com/library/accn-gr11-qp-afr-nov2013/a64a8dfc-46a0-4390-a39c-cd38cc921841) — Accounting · QP · 2013 · Afr - [ACCOUNTING P1 GR11 ANSWER BOOK NOVEMBER 2019 Eng D](https://www.hlayiso.com/library/accounting-p1-gr11-answer-book-november-2019-eng-d/3e971671-49bc-4f02-ac04-3c6aa998101f) — Accounting · Addendum · 2019 · Eng - [ACCOUNTING P1 GR11 ANSWER BOOK NOVEMBER 2019 Afr D](https://www.hlayiso.com/library/accounting-p1-gr11-answer-book-november-2019-afr-d/fc2d8c59-73d0-4200-9f4f-f61845064e97) — Accounting · Addendum · 2019 · Afr - [ACCOUNTING GR11 ANSWER BOOK NOV2018 Afr D](https://www.hlayiso.com/library/accounting-gr11-answer-book-nov2018-afr-d/bee81619-bc94-42c7-877f-50fc4561c388) — Accounting · Addendum · 2018 · Afr - [ACCOUNTING GR11 ANSWER BOOK NOV2018 Eng D](https://www.hlayiso.com/library/accounting-gr11-answer-book-nov2018-eng-d/8b6e47b8-2f1d-4069-897b-bf716dbd25e5) — Accounting · Addendum · 2018 · Eng - [2017 GRADE 11 ACCN ANSWER BOOK](https://www.hlayiso.com/library/2017-grade-11-accn-answer-book/196f5bb2-9fef-4996-b282-97f334224a4f) — Accounting · Addendum · 2017 ## More from Grade 11 Accounting - [GR11 Accounting Practice exam November Paper 1](https://www.hlayiso.com/library/gr11-accounting-practice-exam-november-paper-1/a786fffb-f00d-472f-a62b-80f038063c5b) — Guide - [Grade 11 Accounting P2 November 2026 Mock](https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-question-paper-paper-2/23b01a3d-4c7f-4c08-87ca-2f521d5b13fd) — QP · 2026 · Eng - [ACCOUNTING P2 MEMO GR11 NOV 2025 ENG watermark](https://www.hlayiso.com/library/accounting-p2-memo-gr11-nov-2025-eng-watermark/7aa479bf-34d0-4240-934b-67a2f33e2597) — Memo · 2025 · Eng - [ACCOUNTING P2 MEMO GR11 NOV 2025 AFR watermark](https://www.hlayiso.com/library/accounting-p2-memo-gr11-nov-2025-afr-watermark/a92dc10a-0d2e-42d6-9cd3-ff78b0e78afe) — Memo · 2025 · Afr - [ACCOUNTING ANS BOOK GR11 NOV 2025 ENG watermark](https://www.hlayiso.com/library/accounting-ans-book-gr11-nov-2025-eng-watermark/23071d73-1633-476d-9eea-a35d45360d61) — QP · 2025 · Eng - [ACCOUNTING P1 GR11 QP NOV2025 Afrikaans watermark](https://www.hlayiso.com/library/accounting-p1-gr11-qp-nov2025-afrikaans-watermark/12583458-757b-44ed-b818-66dccc55c934) — QP · 2025 · Afr ## Collection - [Grade 11 past papers](https://www.hlayiso.com/grade-11/past-papers) --- Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. When citing, link the page URL above, not a PDF or /api/ URL.