# Accounting Grade 11 P1 National November 2019 Memo (English) > Grade 11 Accounting Paper 1 memorandum from the National November 2019 (English), 9 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/accounting-p1-gr-11-exemplar-nov-2019-memo-eng/77dfdc57-320a-40f6-9d3c-313ed523e0e5 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 11 - Document type: Memorandum - Year: 2019 - Exam period: National November - Paper: 1 - Curriculum: CAPS - Pages: 9 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 P1 National November 2019 Memo (English)](https://www.hlayiso.com/library/accounting-p1-gr-11-exemplar-nov-2019-memo-eng/77dfdc57-320a-40f6-9d3c-313ed523e0e5) ## About this document Accounting · Grade 11 · National November · 2019. Memorandum, 9 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 NATIONAL SENIOR CERTIFICATE GRADE 11 ACCOUNTING P1 EXEMPLAR NOVEMBER 2019 MARKING GUIDELINES MARKS: 150 MARKING PRINCIPLES: 1. Unless otherwise stated in the marking guideline, penalties for foreign items are applied only if the candidate is not losing marks elsewhere in the question for that item (no penalty for misplaced item). No double penalty applied. 2. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is earning marks on the figures for that item. 3. Full marks for correct answer. If answer is incorrect, mark the workings provided. 4. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for that figure (not the method mark for the answer). Note: If figures are stipulated in memo for components of workings, these do not carry the method mark for the final answer as well. 5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. If no + or – sign or bracket is provided, assume that the figure is positive. 6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers from candidates. 7. Where penalties are applied, the marks for that section of the question cannot be a final negative. 8. Where method marks are awarded for operation, the marker must inspect the reasonableness of the answer and at least one part must be correct before awarding the mark. 9. Operation means check operation. One part correct means operation and one part correct. Note: check operation must be +, -, x, ÷, or per memo. 10. In calculations, do not award marks for workings if numerator and denominator are swapped – this also applies to ratios. 11. When awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at least in part. Indicate with a . 12. Be aware of candidates who provide valid alternatives beyond the marking guideline. 13. Codes: f = foreign item; p = placement/presentation. These marking guidelines consist of 9 pages. Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting/P1 2 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines QUESTION 1: GAAP AND FIXED ASSETS (25 marks; 20 minutes) 1.1 1.1.1 Materiality  1.1.2 Prudence  1.1.3 Matching  1.1.4 Going-concern  4 1.2.1 WORKINGS ANSWER (i) 4 000 000 + 570 000 4 570 000  no part-marks 2 (ii) 564 000  + 132 000  – 576 000  120 000 * 4 one part correct (iii) 132 000 x 10% x 7/12 97 900* 132 000 – (13 200 + 13 200 + 7 700) one part correct 34 100 four marks OR: (from Asset Register) 118 800 – 13 200 – 7 700 one mark one mark two marks 5 (iv) Asset disposal/sold = 7 700 see iii New 120 000 see ii x 10/100 x 3/12 = 3 000 * Old (576 000 – 132 000) x 10/100 = 44 400 * 55 100* 444 000 one part correct 6 17 1.2.2 Give ONE suggestion that the internal auditor can use to check whether movable fixed assets have been stolen. Any ONE point  Part-marks for unclear/incomplete answers  Conduct physical inspection (regular and random)  Compare to Fixed Assets Register 2 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting/P1 3 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines 1.2.3 Provide ONE point why you would agree with Partner Naomi. ONE valid point  Part-marks for unclear/incomplete answers  GAAP prescribes the historical (original) cost principle when recording assets and only recognising profits and/or losses on disposal (i.e. prudence).  IFRS provides for revaluation (fair value) provided that this estimate can be measured reliably (evidence).  Essentially, financial statements must not be overstated to create a false impression on profitability.  Partners' current accounts will be inflated with a non-cash item which will not be a true reflection of their net worth. 2 TOTAL MARKS 25 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting/P1 4 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines QUESTION 2: INCOME STATEMENT AND BALANCE SHEET NOTE (50 marks; 45 minutes) 2.1 MASALA TRADERS INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2019 Sales (9 600 000 – 168 000 – 4 500) 9 427 500 * Cost of sales (6 400 000 – 3 000) (6 397 000) * Gross profit 5 3 030 500  Other income operation one part correct 250 285  Commission income 96 200 Rent income (131 580  + 9 000 + 12 780) 153 360 * Provision for bad debts adjustments (10 725 – 10 000) 725  Gross income 9 3 280 785  Operating expenses Check operation (2 290 510)  Sundry expenses 386 100 Bank charges 62 850 Packing material (23 100 – 3 600) 19 500  Bad debts (26 400 + 3 685) 30 085 * Repairs and maintenance (161 200 + 9 000) 170 200  Salaries and wages (985 000 + 27 800 1 012 800  Pension fund contributions (108 350 + 7 575) 115 925  Advertising (56 800+ 5 600 ) 62 400 * Trading stock deficit (564 000 + 3 000 – 553 650) 13 350 * Depreciation 417 300  Operating profit Check operation 22 990 275  Interest income 4 000 Profit before interest expense 994 275 Interest expense (810 000 + 151 200 – 902 400) (58 800) * Net profit for the year 4 935 475  * One part correct 40 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting/P1 5 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines 2.2 TRADE AND OTHER PAYABLES Creditors' control 126 075 Pension fund (23 500 + 7 575  + #5 050) 36 125 * SARS – PAYE (15 000 + #4 525 ) 19 525 * Accrued expenses (Advertising see IS) 5 600  Creditors for salaries 18 225  One part correct 205 550 * 10 # Pension fund 7 575/1,5 # PAYE 27 800 – 18 225 – 5 050 TOTAL MARKS 50 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting/P1 6 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines QUESTION 3: PARTNERSHIPS (40 marks; 30 minutes) 3.1 Calculate the percentage interest on capital. 35 200  / 440 000  x 100 = 8%  one part correct 3 3.2 CURRENT ACCOUNTS VILANDER LOUW Partner salaries 127 500  144 000 Interest on capital 52 800 * 35 200 Primary distribution 180 300  179 200 Final distribution 54 000  36 000 Net profit for the year 234 300  215 200 Drawings (33 000) (259 000) 201 300 (43 800) Balance at beginning 65 000 (15 200) Balance at end of year 266 300  (59 000) 13 Salary Vilander: (10 000 x 9) + (12 500 x 3) Interest on Capital: 660 000 x 8% see 3.1 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting/P1 7 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines 3.3 KGALAGADI TRADERS BALANCE SHEET ON 28 FEBRUARY 2019 ASSETS NON-CURRENT ASSETS 901 200 Fixed assets 750 000 Fixed deposit 151 200 CURRENT ASSETS 755 600  Inventory balancing figure 678 800  Trade and other receivables 58 000 – 3 700 + 7 000 + 9 500  70 800  Cash and cash equivalents 10 6 000  TOTAL ASSETS 1 1 656 800  EQUITY AND LIABILITIES EQUITY 1 307 300  Capital (660 000 + 440 000) 1 100 000  Current account (266 300 – 59 000) see 3.1 5 207 300  NON-CURRENT LIABILITIES 139 200 Loan: Diamond Bank (208 800– 69 600) 4 139 200  CURRENT LIABILITIES 210 300  Trade and other payables 85 300 Bank overdraft 55 400  Current portion of loan 69 600  TOTAL EQUITY AND LIABILITIES 4 1 656 800  24 TOTAL MARKS 40 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting/P1 8 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines QUESTION 4: ANALYSIS AND INTERPRETATION (35 marks; 25 minutes) 4.1.1 The business was started on 1 March 2017. The partners are concerned about the financial results during the first year of operation. Calculate the % return on the partners' equity (use average equity). _____________152 000 __________ x 100 ½(450 000 + 450 000 + 66 400 – 34 400) 1 = 32,6% 466 000 6 Comment on this return. Provide ONE point. This is an excellent return. Profitability is extremely satisfying. Exceeds return on alternative investments such as fixed deposits (8% at present). 2 4.1.2 Ronel Henning is concerned about whether she has made the right decision in resigning from her previous job. Calculate the total amount earned by Ronel Henning during the first year of operation of this business. 91 200 + 20 000 + 3 200 + 12 000 = 126 400      5 What percentage of the total net income did she earn and what percentage did her partner, Yvonne, earn? RONEL YVONNE   126 400/152 000 X 100 100% - 83,2% = 16,8%  = 83,2%  5 Will the partners be satisfied with the amounts calculated above? Explain briefly. Quote figures. RONEL YVONNE She will be satisfied as it exceeds She will also be satisfied as her her previous earnings of R102 000 return of 25 600/165 600 (15,4%) by R24 400.  is still better than alternative investments.  4 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting/P1 9 DBE/November 2019 NSC – Grade 11 Exemplar – Marking Guidelines 4.2 FINANCIAL DECISIONS FOR THE NEXT YEAR 4.2.1 Calculate the change in net profit if Yvonne decides to work fulltime. Show workings.     152 000 + 57 600 + 18 000 + 19 500 = 247 100 172 800/3 22 500 x 80% 130 000 x 15% 7 4.2.2 Show the effect of this change to Yvonne's total earnings, if she gives up her job. Salary: 104 880  Interest on capital 20 000  = 124 880  + as share in the remaining profit  4 4.2.3 Briefly explain TWO other advantages for the business if Yvonne works on a full-time basis in the business. TWO points   Shared responsibilities Shared decision-making Satisfaction and motivation to improve the business 2 TOTAL MARKS 35 TOTAL: 150 Copyright reserved ## Related documents - [Accounting P1 GR 11 Exemplar Nov 2019 Memo Afr](https://www.hlayiso.com/library/accounting-p1-gr-11-exemplar-nov-2019-memo-afr/b7463574-b9e0-49d5-b147-5dc24b3a279b) — Accounting · Memo · 2019 · Afr - [Accounting P1 GR 11 Exemplar Nov 2019 Afr](https://www.hlayiso.com/library/accounting-p1-gr-11-exemplar-nov-2019-afr/ce63b5f0-651c-4f1e-a058-9842d48a4ae8) — Accounting · QP · 2019 · Afr - [ACCOUNTING P1 GR11 MEMO NOV 2019 AFR D](https://www.hlayiso.com/library/accounting-p1-gr11-memo-nov-2019-afr-d/0f0c37c4-11e4-44e7-92f3-4dc5f5051582) — Accounting · Memo · 2019 · 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 P1 GR11 QP NOVEMBER 2019 Eng D](https://www.hlayiso.com/library/accounting-p1-gr11-qp-november-2019-eng-d/c1fd0a17-efd3-4e15-8fe6-9f33bd56e49a) — Accounting · QP · 2019 · Eng ## 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 P1 GR11 ANSWER BOOK NOV2025 Afrikaans watermark](https://www.hlayiso.com/library/accounting-p1-gr11-answer-book-nov2025-afrikaans-watermark/6daad69c-e558-4d79-9945-bdcc57c797b8) — Addendum · 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 - [ACCOUNTING P2 QP GR11 NOV 2025 AFR watermark](https://www.hlayiso.com/library/accounting-p2-qp-gr11-nov-2025-afr-watermark/c1345715-0e44-4f64-9844-4e1a4ca18c22) — 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. 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