Accounting Grade 11 P2 Gauteng November 2023 Addendum (Eng)

Downloaded from hlayiso.com PROVINCIAL EXAMINATION NOVEMBER 2023 GRADE 11 ACCOUNTING PAPER 2 ANSWER BOOK Name of school: Name of learner: Date: Question Topic Possible Obtained Moderated marks marks marks 1 Reconciliations 40 2 Cost Accounting 40 3 Inventory and VAT Calculations 30 4 Budgets 40 150 11 pages P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 2 (PAPER 2) GRADE 11 QUESTION 1: RECONCILIATIONS 1.1 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 5 1.2.1 Cash Receipt Journal Cash Payment Journal 104 000 102 000 11 1.2.2 Calculate the correct bank balance. 4 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 3 (PAPER 2) GRADE 11 1.2.3 Bank Reconciliation Statement for the month ended 30 November 2023 Debit Credit Balance as per bank statement 8 1.3 Creditors' Reconciliation Statement of Creditors’ Ledger Account Balance 295 640 290 120 (a) (b) (c) (d) (e) (f) 12 TOTAL 40 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 4 (PAPER 2) GRADE 11 QUESTION 2: ACCOUNTING 2.1 2.1.1 2.1.2 2.1.3 2.1.4 2.1.5 5 2.2 GENERAL LEDGER OF MEGGA MANUFACTURERS 2.2.1 DR DIRECT RAW MATERIAL COST B2 CR 5 2.2.2 DR WORK-IN-PROCESS STOCK B3 CR 7 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 5 (PAPER 2) GRADE 11 2.2.3 DR FINISHED GOODS STOCK B4 CR 6 2.2.4 DR FACTORY OVERHEAD COST N2 CR 9 2.3.1 Calculate the break-even point for the financial year ended 28 February 2023. (6) P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 6 (PAPER 2) GRADE 11 2.3.2 Calculate the break-even point for the financial year ended 28 February 2023. (2) YES/NO 8 TOTAL 40 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 7 (PAPER 2) GRADE 11 QUESTION 3: INVENTORY AND VAT CALCULATIONS 3.1 3.1.1 3.1.2 3.1.3 3.1.4 3.1.5 5 3.2.1 Calculate the cost of sale. Opening stock 481 000 Purchases (378 000 Carriage on purchases (2 792 9 3.2.2 Calculate the stock turnover rate. 4 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 8 (PAPER 2) GRADE 11 3.3 Calculate the VAT amount that is either receivable from or payable to SARS on 31 October 2023. VAT Control Account OR 12 TOTAL 30 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 9 (PAPER 2) GRADE 11 QUESTION 4: BUDGETS 4.1 4.1.1 4.1.2 4.1.3 4.1.4 4.1.5 5 4.2.1 Debtors' Collection Schedule for the months of January and February 2024 Month Credit sales January February November 171 000 25 650 December 172 500 51 750 January 168 000 February 163 800 6 P.T.O.

Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 10 (PAPER 2) GRADE 11 4.2.2 Calculate the missing amounts indicated by the letters A to I in the Cash Budget for January and February 2024. Workings Answer A B C D E F G H I 15 4.3.1 Explain whether the water and electricity has been well controlled or not. Quote figures to substantiate your answer. (3) P.T.O.

Downloaded from hlayiso.com 4.3.2 Explain whether you agree with Mpho’s decision not to use the full budget for advertising. Quote figures to substantiate your answer. (3) 4.3.3 Explain whether consumable stores have been well controlled or not. Quote figures to substantiate your answer. (4) 4.3.4 Explain how Mpho’s decision about the mark-up percentage on sales has affected the business. Quote figures to substantiate your answer. (4) TOTAL 40 TOTAL: 150 END