Accounting Grade 11 Limpopo March Test 2026 Paper & Memo

Downloaded from Stanmorephysics.com hes LIMPOPO PROVINCIAL GOVERNMENT REPUBLIC OF SOUTH AFRICA DEPARTMENT OF EDUCATION NATIONAL SENIOR CERTIFICATE 100 TIME: 90 minutes This question paper consists of 9 pages, and an 8-page Answer Book.

Downloaded from Stanmorephysics.com Accounting Grade 11 Controlled test 1 Limpopo/DoE/ 17 March 2026 INSTRUCTIONS AND INFORMATION Read the following instructions carefully and follow them precisely. A. Answer ALL questions. A special ANSWER BOOK is provided in which to answer ALL questions. Show ALL workings to earn part-marks. You may use a non-programmable calculator. You may use a dark pencil or blue/black ink to answer questions. Where applicable, show ALL calculations to ONE decimal point. If you choose to do so, you may use the Financial Indicator Formula Sheet attached at the end of this question paper. The use of this formula sheet is NOT compulsory. Write neatly and legibly. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS__| MINUTES 1 Bank reconciliations 25 22 2 Creditors reconciliations 20 18 3 Fixed assets 35 32 4 Partnerships 20 18 TOTAL 100 90 Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 Controlled test 1 Limpopo/DoE/ 17 March 2026 QUESTION 1: BANK RECONCILIATIONS (25 marks; 18 minutes) 1.1. Choose ONE word/ term from the list to fill in the missing word(s). Write only word(s) next to the Question numbers (1.1.1 to 1.1.3) in the ANSWER BOOK. Bank overdraft; Cash journals; Credit balance; Debit card let Ateusscuccsoss on the Bank Statement means that the business has a positive balance in the bank. 1422 Abvseressasciaps may be used to withdraw cash from an ATM. 1.1.3. An error on the bank statement must be rectified in the................. (3) REQUIRED: 1.2 Calculate the correct totals for the Cash Receipts Journal and Cash Payments Journal for February 2026. (9) 1.3. Calculate the correct Bank Account balance on 28 February 2026. (5) 1.4 Prepare the Bank Reconciliation Statement as at 28 February 2026. (8) INFORMATION: Thato, the bookkeeper from Sithole’s Stores, compared the Bank Statement received from ABC Bank for February 2026, with the business’s January 2026 Bank Reconciliation Statement and the Cash Journals for February 2026. The following differences were noted: A. The Bank Account in the General Ledger on 1 February 2026, prepared by the bookkeeper, reflected a positive balance of R28 100. Before inspecting the February 2026 Bank Statement, the provisional totals in the February 2026 Cash Journals were as follows: Cash Receipts Journal 206 200 Cash Payment Journal 222.500 EFT 921 for R5 875, appeared on the Bank Reconciliation Statement as outstanding for January 2026. This amount was correctly reflected on the February Bank Statement. Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 Controlled test 1 Limpopo/DoE/ 17 March 2026 Dz. Rent of R8 500, received on 28 February 2026, was recorded in the relevant Cash Journal from proof of payment received from the tenant. This transaction did not appear on the Bank Statement dated 25 February 2026. It is expected to appear on the March Bank Statement. E. An EFT for R8 300 received from Samantha Schoeman, a debtor was incorrectly recorded as R3 800 in the relevant Cash Journal. F. Miriam Moodley, a debtor, transferred an amount directly into the Bank Account of Sithole’s Store in settlement of her account of R2 750. Miriam received a 6% cash discount on his transaction which appeared only on the February 2026 bank Statement. G. A deposit of R4 190 received on 25 February 2026, for cash received from sales, was incorrectly entered in the Cash Receipts Journal as R4 910. This transaction appeared correctly on the bank statement. H. A deposit of R12 500 from a supplier for a cash refund, dated 23 February 2026, was not recorded in the respective Cash Journal. It was correctly recorded on the February Bank Statement. I. The annual insurance premium in respect of the owner’s personal life insurance was paid via debt order, R1 260. This appeared on February 2026 Bank Statement only. J. Bank charges of R885 and interest on a favourable bank balance of R95 appeared only in the February 2026 Bank Statement. K. A deposit for R9 720, dated 26 February 2026, was not reflected in the February 2026 Bank Statement. This amount appeared correctly in the Cash Receipts Journal for February. L. The payment for an online purchase from Takealot, for business supplies R1 840, was omitted from the relevant Cash Journal. It was also incorrectly duplicated on the February 2026 Bank Statement. The bank has promised to correct this error in March 2026. M. — The following EFT’s all dated 28 February 2026 were not reflected on the Bank Statement for February 2026. They were correctly recorded in the relevant Cash Journal. R EFT 996 3 500 EFT 1001 1 240 N. The Bank Statement reflected a closing balance of R? on 28 February 2026 25 Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 Controlled test 1 Limpopo/DoE/ 17 March 2026 QUESTION 2: CREDITORS RECONCILATIONS AND INTERNAL CONTROL (20 marks; 18 minutes) 2.1. Tammy Traders buys goods on credit from Sandy Stores. REQUIRED: 2.1.1. Briefly explain how the preparation,of a creditors’ reconciliation as an internal control measure can assist the business in managing their creditors effectively. Provide TWO points. ; (4) 2.1.2 Use the table provided in the ANSWER BOOK to indicate the changes that must be made in the Creditors’ Ledger Account of Tammy Traders and in the Creditors’ Reconciliation Statement on 28 February 2026. (16) e Write the amount in the appropriate column with a plus (+) or a minus (-) sign to indicate an increase or decrease in the balance. INFORMATION: A. Creditors Ledger of Tammy Traders SANDY’S STORES DATE DETAILS FOL DEBIT CREDIT | BALANCE Feb 1 Balance b/d 72 200 2 | Invoice 462 ClJ 54 200 126 400 4 | Debit Note 56 CAJ 3 900 122 500 7 [EFT 443 CPJ 42 000 80 500 Discount received CPJ 4 200 76 300 20 | Invoice 1111 CJ 15 300 91 600 23 | EFT 615 CPJ 47.300 74 300 24 | Invoice 590 CJ 25 000 99 300 27 | EFT 599 CPJ 13 700 85 600 Discount received CPJ 2 470 83 130 28 | Invoice 592 CJ 55 500 138 630 Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 Controlled test 1 Limpopo/DoE/ 17 March 2026 B. Statement of account received from Sandy Stores SANDY’S STORES No.2321 15 Mandela Drive, Steelport Debtor: Tammy Traders DATE DETAILS DEBIT CREDIT BALANCE Jan Zo Balance 87 200 28 | Receipt 110 15 000 72 200 Feb |2 Invoice 462 59 200 131 400 4 Credit Note 19 3 900 135 300 7 Receipt 122 42 000 93 300 Discount allowed 2.100 91 200 18 | Invoice 568 13 900 105 100 23 | Receipt 164 17 300 87 800 24 | Invoice 590 23 600 111 400 25 Delivery charges 2 750 114 150 C. An investigation revealed the following errors and omissions: (i) (ii) (iii) (iv) v) (vi) (vii) (viii) Copyright reserved Invoice 462 was recorded correctly on the statement of account. Invoice 1111 was for goods that Tammy Traders bought from another supplier, Sicwetsha Suppliers. Invoice 568 was an error on the statement. This was for goods they supplied to another business. The discount allowed on 7 February 2026 is correct as per Statement of account. Tammy Traders omitted to deduct the trade discount allowed on invoice 590 Goods for R3 900 were returned by Tammy Traders to Sandy Store on 4 February 2026. In terms of the contract Sandy Stores charges a delivery fee to all its customers. The statement of account only includes transactions up to 25 February 2026. 20 Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 QUESTION 3: FIXED ASSETS Controlled test 1 Limpopo/DoE/ 17 March 2026 (35 marks; 32 minutes) The following information relates to Dekok Traders. The financial year ended on 28 February 2026. REQUIRED: 3.1. Briefly explain a fixed asset register 3.2 Name TWO reasons why fixed assets can be sold (2) (2) 3.3 Land and buildings were bought five years ago for R1 800 000. The property prices have increased by 50% since then. The partners want to record it at a higher amount so that a profit can be reflected in the Income Statement. Provide TWO points why it is not allowed. (4) 3.4 Prepare an Asset Disposal Account for the sale of Equipment on 1 December 2025. (9) 3.5 Calculate the missing amounts denoted by (a) to (f) in the Fixed Assets note for the year ended 28 February 2026. (18) INFORMATION: FIXED ASSETS LAND AND VEHICLES EQUIPMENT BUILDING Carrying value(1/03/2025) 490 500 Cost 2 700 000 810 000 459 000 Accumulated depreciation (319 500) Movements: Additions 450 000 (b) 90 000 Asset disposals (0) 0 (e) Depreciation (c) (f) Carrying value (28/02/2026) (d) Cost (a) 990 000 486 000 Accumulated depreciation (0) (444 600) Additional Information: e The new vehicle was purchased on 1 June 2025. Depreciation on vehicles is calculated at 20% p.a. on the diminishing balanced method. e New equipment was purchased on 1 September 2025. e Equipment with a cost price of R? was sold on 1 December 2025 for R38 250 cash. Accumulated depreciation on this equipment on 1 March 2025 amounted to R25 200. Depreciation on equipment is calculated at 10% on the cost price. Copyright reserved 35 Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 QUESTION 4: PARTNERSHIP Controlled test 1 Limpopo/DoE/ 17 March 2026 (20 marks; 20 minutes) 4.1 Match the term / Concept in column A with the best explanation in Column B. Write only the answer (A to G) next to the question number in the space provided in your answer book. For example, 4.1.6 4 we, COLUMN A COLUMN B 4.1.1 Matching Principle i _| Small amounts that have no real relevance "| do not need to be disclosed separately in a ‘business's financial records. 4.1.2 Primary Distribution This refers to a set of accounting rules and standards that determine how accounting transactions should be reported in a business's financial records. 4.1.3 IFRS A section contained in the partnership agreement states the way in which the business's final profit at the end of the financial year is to be shared between the partners. 4.1.4 Materiality Concept The share of the net profit in a partnership is according to the partnership.agreement. 4.1.5 Profit Sharing Ratio Assets must be recorded at the price paid for them in the financial records. Income and expenses must be recorded in the financial year in which they occurred. Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 Controlled test 1 Limpopo/DoE/ 17 March 2026 4.2 4.2.1 4.2.2 4.2.3 4.2.4 4.2.5 The following information was extracted from the records of MOBI Traders, which is owned by partners M. Moodley and B Biyela, on 28 February 2026, the end of financial. REQUIRED: Analyse the following transact aie the tablejprovided in your Answer Book. (15) ie ; } On 28 February 2026, the amou by debtors MOBI Traders was R98 700. A provision for bad debts of 5% of mu Insurance included as annual pre R5 400 paid in advance until 31June 2026. Interest on capital of R? is due to M Moodley at the end of the financial year. His capital contribution was R165 000 on 1 March 2025 but was increased by R50 000 on 31 July 2025. Interest is calculated at 12% per annum. B Biyela’s salary of R25 000 per month must be recorded in the business’s financial records at the financial year end. After all necessary financial entries have been made at the end of the financial year, Moodley’s share of the net profit was calculated at R89 700. 20 TOTAL MARKS: 100 Copyright reserved

Downloaded from Stanmorephysics.com PROVINCIAL GOVERNMENT REPUBLIC OF SOUTH AFRICA ———— DEPARTMENT OF EDUCATION NATIONAL SENIOR CERTIFICATE SURNAME AND NAME SCHOOL DATE QUESTION | MARKS MARKER MODERATOR 1. 2. 3. 4. TOTAL 100 This Answer Book consists of 8 pages. (Copyright reserved Please turn over

Downloaded from SAAN SEN ECR com Accounting Grade 11 LimpopoDoE/17 March Controlled Test Kiond -Answer Book QUESTION 1: BANK RECONCILIATION 1.1 1.1.1 1.1.2 1.1.3 1.2 CASH RECEIPTS CASH PAYMENT JOURNAL JOURNAL 206 200 222 500 1.3 Calculate the correct Bank account balance on 28 February 2026 Copyright reserved Please turn over

Rewnleaded from Stanmorephysics.com __Limpopo/Dot/ 17 March2026 Controlled Test No.1-Answer Book 1.4 Prepare the Bank Reconciliation Statement for the year ended 28 February 2025 Debit Credit TOTAL MARKS 25 Copyright reserved

Bewnleaded. from Stanmorephysics.com Limpopo/DoE/ 17 March 2026 Controlled Test No.1-Answer Book QUESTION 2. CREDITORS RECONCILIATION 2.1.1 Briefly explain how the preparation of a Creditors’ Reconciliation as an internal control measure can assist the business in managing their creditors effectively. Provide TWO points. 2.1.2 Creditors Ledger and Creditors Reconciliation Statement CREDITORS LEDGER CREDITORS RECONCILIATION STATEMENT Balance 138 630 114 150 (i) (ii) (iii) (iv) (v) (vi) 16 TOTAL MARKS 20 Copyright reserved

Rewnteaded from Stanmorephysics.com __ limpopo/DoE/17 March 2026 Controlled Test No.1-Answer Book QUESTION 3: FIXED ASSETS 3.1 Briefly explain a fixed asset register. 3.2 Name TWO reasons why fixed assets can be sold. 3.3 Land and buildings were bought five years ago for R1 800 000. The property prices have increased by 50% since then. The partners want to record it at a higher amount so that a profit can be reflected in the Income Statement. Provide TWO points why it is not allowed. Copyright reserved

Bewnleaded. from Stanmorephysics.com Limpopo/DoE/ 17 March 2026 Controlled Test No.1-Answer Book 3.4 DR ASSET DISPOSAL CR Dec Dec 2025 | 1 Equipment 2025 9 3.5 (a) | Calculate the cost price of the Land and Building on 28 February 2026 WORKINGS ANSWER 2 Calculate the additions to vehicles bought on 1 June 2025 (b) WORKINS ANSWER 2 Calculate the total depreciation on vehicles on 28 February 2026. (C) WORKINS ANSWER 2 Copyright reserved

Bewnleaded. from Stanmorephysics.com Limpopo/DoE/ 17 March 2026 Controlled Test No.1-Answer Book Calculate the carrying value of vehicles on 28 February 2026 (d) WORKINS ANSWER Calculate the Asset disposal at carrying value on (e) | 1December 2025 WORKINS ANSWER (e) Calculate the total depreciation on equipment on 28 February 2026 WORKINS ANSWER Copyright reserved TOTAL MARKS 35

Bewnleaded from Stanmorephysics.com QUESTION 4: PARTNERSHIP 4.1 Controlled Test No.1-Answer Book Limpopo/DoE/ 17 March 2026 4.1.1 4.2 ACCOUNT DEBIT ACCOUNT CREDIT AMOUNT 4.2.1 4.2.2 4.2.3 4.2.4 4.2.5 15 Copyright reserved TOTAL MARKS 20 TOTAL MARKS: 100

Downloaded from Stanmorephysics.com LIMPOPO PROVINCIAL GOVERNMENT REPUBLIC OF SOUTH AFRICA DEPARTMENT OF EDUCATION NATIONAL SENIOR CERTIFICATE MARKS: 100 MARKING PRINCIPLES: 4 Unless otherwise indicated in the marking guidelines, 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 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 marking guidelines for components of workings, these do not carry the method mark for 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. 7. These marking guidelines are not for public distribution, as certain items might imply incorrect treatment. The adjustments made are due to nuances in certain questions. 8. Where penalties are applied, the marks for that section of the question cannot be a final negative. 9. Where method marks are awarded for operation, the marker must inspect the reasonableness of the answer. 10. Operation means 'check operation’. 'One part correct’ means operation and one part correct. Note: Check operation must be +, -, x, +, or per marking guidelines. 11. In calculations, do not award marks for workings if numerator and denominator are swapped -— this also applies to ratios. 12. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at least in part. Indicate with a Bd. 13. Be aware of candidates who provide valid alternatives beyond the marking guidelines. Note that one comment could contain different aspects. 14. Codes: f = foreign item; p = placement/presentation. This marking guidelines consists of 8 pages

Downloaded from Stanmorephysics.com erm1 Test 2026 Accounting Grade 11 QUESTION 1: BANK RECONCILIATION DoE/Limpopo, NSC Marking Guideline (25 MARKS; 18 MINUTES) 1.1.1 Credit balance ¥ 1.1.2 Debit card ¥ 1.43 Bank overdraft v 1.2 CASH RECEIPTS JOURNAL CASH PAYMENT JOURNAL 206 200 222 500 4500 ¥ 720V¥ 2 585¥ 1 260VY 12 500V 885v¥ 95v 1 840V 225 880 4 227 205 If dhe part corret 1.3. Calculate the correct Bank account balance on 28 February 09 28 100 v+ 225 880U - 227 2054 = 26775~ UZ If Operation Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 DoE/Limpopo/Term1 Test 2026 NSC Marking Guideline 1.4 Prepare the Bank Reconciliation Statement for the year ended 28 February 2025 Debit Credit Credit balance as per Bank 11 4554 Statement See 1.3 Operation Credit outstanding deposits 8 500V 9 720V Debit outstanding EFTs: ' ; EFT 996 3-500V EFT 1001 4 240v Credit amount wrongly debited 1 840V Debit balance as per Bank Account 26 7754 31515 31 5154 Part marks earned if the totals are correct 8 TOTAL MARKS 25 Copyright reserved 3 Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 DoE/Limpopo/Term1 Test 2026 NSC Marking Guideline QUESTION 2: CREDITORS RECONCILIATION 2.1.1. Briefly explain how the preparation of a Creditors’ Reconciliation as an internal control measure can assist the business in managing their creditors effectively. Provide TWO points. Any TWO relevant control measure; Part marks may be awarded for incomplete V vv e Errors and omissions can be detected and corrected. e Fraud can be detected and minimized e Thecorrect payment can be made to creditors CREDITORS RECONCILIATION 16 2.1.2 CREDITOR LEDGER | CREDITORS RECONCILIATION STATEMENT Balance (138 630) (114 150) (i) +5 000 V (ii) -15 300V (iii) -13 900 V (iv) +2 100 VV (v) -1 400 Vv (vi) -7 800 V¥ (vii) +2 750 VV (viii) 43 700 V 3 -2 470V +55 500 Vv 131 780 Z 131 780 4 One part correct and must One part correct arid must include include balance balance TOTAL MARKS 20 Copyright reserved 4 Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 DoE/Limpopo/Term1 Test 2026 NSC Marking Guideline QUESTION 3: FIXED ASSETS 3.1 Briefly explain a fixed asset register. Any ONE Explanation Vv It is a list of fixed assets purchased, it shows, cost of the assets, date of purchase, name, model, and method of depreciation. 3.2 Name TWO reasons why fixed assets can be sold. Any TWO reasons V¥ = If the asset is fully depreciated. = Replaced with more advanced technologically model = If is no more economically useful 3.3 Land and buildings were bought five years ago for R1 800 000. The property prices have increased by 50% since then. The partners want to record it at a higher amount:so that.a profit can be reflected in the Income Statement. Provide TWO points why it is not allowed. TWO valid points ¥v¥ vv e GAAP prescribes the historical (original) cost principle when recording assets. e ERS provides for revaluation (fair value) provided that this estimate can be measured reliably (evidence). e Essentially, financial statements must not be overstated to create a false impression on profitability. Copyright reserved 5 Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 DoE/Limpopo/ erm1 Test 2026 NSC Marking Guideline 3.4 DR ASSET DISPOSAL CR Dec Dec Accumulated 2025 |1 Equipment 63 000V 4 J 2025 depreciation on 29 925 4 equipment ¥ One part 25 200¥ +4725 | correct Profit on sale of asset 51754 Bankv 38 250V 68 175 68 175 3.5 9 Calculate the cost price of the Land and Building on 28 (a) | February 2026 WORKINS ANSWER 2700000 +450 000 3 150 000 vv No part marks 2 Calculate the additions to vehicle bought on 1 June 2025 (b) WORKINS ANSWER 990 000 — 810 000 180 000vv | 2 Calculate the total depreciation on vehicles on 28 February (c) | 2026 WORKINS ANSWER 2 444 600 - 319 500 125 100v4 No part marks Copyright reserved Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 DoE/Limpopo/Term1 Test 2026 NSC Marking Guideline Calculate the carrying value of vehicles on 28 February 2026 (d) WORKINS ANSWER 2 990 000 -444 600 545 400v~ Calculate the Asset disposal at carrying value on (e) | 1 December 2025 WORKINS ANSWER 63000 4 - 299254 33075 4 3 See34 see 3.4 | One _part correct Calculate the total depreciation on equipment on 28 (f) | February 2026 WORKINS ANSWER Disposal =47254 See34 | 488254 Old 459 000 — 63 000 = One part correct 396 000 x10/100 = 39 600v 4 New 90 000 x 10/100 v x 6/12 v 7 =4500 ¥ One part correct TOTAL MARKS 35 Copyright reserved 7 Please turn over

Downloaded from Stanmorephysics.com Accounting Grade 11 DoE/Limpopo/Term1 Test 2026 NSC Marking Guideline QUESTION 4: PARTNERSHIP 4.1 4.1.1 Fv 4.1.2 Dv 4.1.3 Bv 4.1.4 Av 4.1.5 Cv 5 4.2 ACCOUNT DEBIT ACCOUNT CREDIT AMOUNT 4.2.1 Provision for bad debt | Provision for bad debt v 4935 v adjustment v 4.2.2 Prepaid Expense v Insurance v 1 800 v 4.2.3 | Intereston Capital v | Current Account ~ 23 300 v 4.2.4 | Salary Biyela v Current Account Biyela v 300 000 v 4.2.5 | Appropriation v Current Account Moodley v | 89 700 v 15 TOTAL MARKS 20 TOTAL MARKS: 100 Copyright reserved 8 Please turn over