Accounting Grade 11 P1 Eastern Cape November 2025 Addendum

Name: NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER 2025 ACCOUNTING P1 ANSWER BOOK MAX. MARKS MODERATED MARKS QUESTION MARKS OBTAINED School District 1 55 2 50 3 35 4 10 150 This answer book consists of 8 pages.

2 ACCOUNTING P1 (ANSWER BOOK) (EC/NOVEMBER 2025) QUESTION 1 1.1 CONCEPTS 1.1.1 1.1.2 1.1.3 1.1.4 4 1.2.1 Calculate the profit or loss on sale of the vehicle. WORKINGS ANSWER 5 1.2.2 Calculate total depreciation on vehicles for the year ended 30 June 2025. WORKINGS ANSWER 6 Copyright reserved Please turn over

(EC/NOVEMBER 2025) ACCOUNTING P1 (ANSWER BOOK) 3 1.3 Statement of Comprehensive Income for the year ended 30 June 2025. Sales (8 230 200 Cost of sales Gross profit Other operating income Bad debts recovered 5 100 Rent income Gross operating income Operating expenses Salaries and wages (512 500 Sundry expenses 174 500 Water and electricity Bad debts Insurance (89 600 Repairs (11 600 Operating profit Interest income (4 000 Profit before interest expense Net profit for the year 3 404 470 40 TOTAL MARKS 55 Copyright reserved Please turn over

4 ACCOUNTING P1 (ANSWER BOOK) (EC/NOVEMBER 2025) QUESTION 2 OSLO TRADERS 2.1 TRADE AND OTHER RECEIVABLES NOTE Trade debtors (226 000 7 2.2 CURRENT ACCOUNT NOTE ON 28 FEBRUARY 2025 Osna Long Partner’s salaries 360 000 Bonus Interest on capital 60 000 Secondary distribution 85 800 Drawings 159 200 Retained earnings Balance at the beginning of the year 34 800 (28 900) Balance at the end of the year 18 Copyright reserved Please turn over

(EC/NOVEMBER 2025) ACCOUNTING P1 (ANSWER BOOK) 5 2.3 Statement of Financial Position on 28 February 2025. R Assets Non-current assets Financial assets: Fixed deposit Current assets Inventories (296 400 Cash and cash equivalents Total assets Equity and Liabilities Owners’ Equity Capital Non-current liabilities Loan (808 600 Current liabilities Trade and other payables (119 800 Total equity and liabilities 25 TOTAL MARKS 50 Copyright reserved Please turn over

6 ACCOUNTING P1 (ANSWER BOOK) (EC/NOVEMBER 2025) QUESTION 3 3.1 CONCEPTS 3.1.1 3.1.2 3.1.3 3.1.4 4 3.2 Calculate the following financial indicators for the year ended 31 December 2025. Show ALL calculations. 3.2.1 Operating expenses on sales WORKINGS ANSWER 3 3.2.2 Acid-test ratio WORKINGS ANSWER 4 3.2.3 Stock-turnover rate WORKINGS ANSWER 5 3.3.1 Comment on whether the decision taken by the partners regarding the mark-up % achieved, benefited the business or not. Quote figures. 2 Copyright reserved Please turn over

(EC/NOVEMBER 2025) ACCOUNTING P1 (ANSWER BOOK) 7 3.3.2 Comment on the stock-holding period of the business and average debtors’ collection period. Suggest ways in which these can be improved in future. Point 1 Point 2 6 3.3.3 Partner Asmal is of the opinion that it was beneficial to the business to pay the loan during the year. Comment on how this decision has affected the risk of the business. Quote ONE financial indicator. 3 Besides paying off the loan, what other avenues can partners explore that will impact positively on the risk of the business? State TWO points. ● ● 4 3.3.4 Should partner Yamiz be satisfied with the returns he is getting from the partnership? Comment and quote ONE financial indicator. 4 TOTAL MARKS 35 Copyright reserved Please turn over

8 ACCOUNTING P1 (ANSWER BOOK) (EC/NOVEMBER 2025) QUESTION 4 4.1 Explain what is meant by the term ‘business ethics’. 2 4.2 Which GAAP principle did Roman contravene when he took a laptop from the business but did not record this transaction? Briefly explain this principle to support your answer. 2 4.3 Explain what concerns should Jose have when he finds out about his partner’s actions. State THREE points. 6 TOTAL MARKS 10 TOTAL: 150 Copyright reserved Please turn over