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Accounting (Grade 11) 5 March 2022 Common Test
NSC

QUESTION 2 (35 Marks, 31 Minutes)

FIXED/ TANGIBLE ASSETS

Themba's Tree Fellers is a small business that operates in Pretoria.

This business owns two open back trucks which are used to transport w
site as well as remove the cut tree trunks and branches from the custo er
Each truck is driven by a team leader, who is responsible for reporting an
regarding the vehicle to Themba, so that they can be fixed.

REQUIRED:

2.1 Refer to Vehicle number 1.

2.1.1 Calculate the depreciation on this vehicle for the year ended (2)
28 February 2022.

2.1.2 Themba is of the opinion that this older vehicle does not need to be replaced (4)
as it is still in working order. Discuss two reasons why you disagree with him.

2.2 Complete the Asset Disposal Account in the General Ledger for Vehicle number 2, (14)
which was written off on 31 July 2021.

2.3 Complete missing amounts (labelled A to E) in the Fixed/ Tangible note the Balance (15)
Sheet for the year ended 28 February 2022
Vehicles
Carrying Value on 1 March 2021 ?

Cost Price A
Accumulated Depreciation B

Movements ?

Additions at Cost C
Disposals at Carrying Value ?
Depreciation D

Carrying Value on 28 February 2022 ?

Cost Price E
Accumulated Depreciation ?

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Accounting (Grade 11) 7 March 2022 Common Test
NSC

QUESTION 3 (24 Marks, 22 Minutes)

PARTNERSHIPS - TRANSACTION ANALYSIS

Snip and Cut hair salon, situated on Newcastle KwaZulu Natal, caters to both men and
women. The salon owned and managed by B. Bukekayo and U. Umuhle.

REQUIRED:

3.1 Identify the General Ledger account that is used to record the following transactions. (4)
Write only the name of the account in the space provided in your answer book.

3.1.1 The ledger account that is used to calculate the gross profit.
3.1.2 This owners' equity account can have either a debit or a credit opening
balance.
3.1.3 The account in which the secondary distribution is calculated.
3.1.4 The net profit for the year is calculated in this ledger account.

3.2 Show how the year-end adjustments and closing transfers below will be recorded, as (20)
per the table provided in your answer book, for the financial year ended
28 February 2022.
3.2.1 Shampoo, conditioner and other styling items on hand at the end of the year
amounted to R2 000 i.e. R9 000 purchased and R7 000 used. These are
considered to be consumable stores.

3.2.2 Rent expense of R3 500 is still owed for February 2022, the sum of R38 500
was paid.

3.2.3 As per the partnership agreement, Bukekayo is to receive a salary of

R12 000 per month.

3.2.4 Umuhle increased her capital contribution from R140 000 to R190 000 on
1 September 2021. This has been recorded. Interest of 8% per annum still
needs to be brought into account for Umuhle.

3.2.5 Umuhle's drawings account, with a balance of R160 000, is to be closed off at
the end of the financial year.

3.2.6 After the primary distribution was completed, the remaining loss to be
distributed was R45 000. This is to be shared between Bukekayo and
Umuhle in the ratio of 3 : 1. Record secondary distribution to Bukekayo at
the end of the financial year.

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Accounting (Grade 11) 3 March 2022 Common Test
NSC

QUESTION 2 (35 Marks, 31 Minutes)

FIXED/ TANGIBLE ASSETS

2.1 Refer to Vehicle number 1

2.1.1 Calculate the depreciation on this vehicle for the year ended
28 February 2022 .

._________________I @
2.1.2 Themba is of the opinion that this older vehicle does not need to be replaced
as it is still in working order. Discuss two reasons why you disagree with him.

_______________________________ B
..._

2.2 Asset Disposal

2.3 Complete missing amounts (labelled A to E) in the Fixed/ Tangible note the Balance
Sheet for the year ended 28 February 2022.

Calculation Answer

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 NATIONAL
SENIOR CERTIFICATE

GRADE 11

ACCOUNTING

MARKING GUIDELINE

. MARCH 2022

COMMON TEST

MARKS: 100

MARKING PRINCIPLES:

1. Penalties for foreign items are applied only if the candidate is not losing marks elsewhere in the question
for that 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 the final figure, award one mark. Not the method mark for the
answer. Note: if figures are stipulated in memo for components of workings, these do not carry the method
for final answer.
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 before awarding the mark.
9. Operation’ means ‘Check operation’. ‘One part correct’ means ‘Operation & one part correct’. Note: check
operation must be +,-,x,÷, or per candidates operation.
10. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect,
indicate
with a . Note: do not award marks for workings if numerator and denominator are swapped-this also
applies to ratios.
11. Be aware of candidates who provide valid alternatives beyond the marking guideline.
12. Codes: f=foreign item; p=placement.

This marking guideline consists of 5 pages.

Accounting (Grade 11) 2 March 2022 Common Test
NSC- Marking Guideline

QUESTION 1 (19 Marks, 17 Minutes)

CREDITORS RECONCILIATION

1.1 Carrie’s Cafeteria’s Statement from Patrick’s Produce

Creditors’ Ledger
Balance 5 650 6 750
i. - 900
ii. - 250
iii. + 1 100
iv. + 600
v. - 500
vi. - 50
+ 700
vii.
OR (350 + 350)
Total Operation 6 550 Operation 6 550 13

1.2 Refer to the error regarding the lack of receipt (number v).
1.2.1 Explain why source documents form an integral part of internal control.
One valid explanation 
 Source documents are proof that a transaction occurred.
 These documents are used to draw up journals and to update the accounts of
customers. (2)

1.2.2 Patrick’s assistant has advised him to stop accepting cash payments from
the businesses that he delivers fresh produce to. He is advised to request
that all payments are made electronically, using the customer’s account
number as a reference. Discuss TWO advantages of this.
TWO valid advantages 
 The bank statement can be used as a source document to record all money
received.
 Money cannot be lost / spent / or misplaced by Patrick while delivering to
these businesses.
 Patrick will also be safer as he will not be carrying large amounts of cash in his
delivery vehicle.
(4)

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Accounting (Grade 11) 3 March 2022 Common Test
NSC- Marking Guideline

QUESTION 2 (35 Marks, 31 Minutes)

FIXED / TANGIBLE ASSETS

2.1 Refer to Vehicle number 1

2.1.1 Calculate the depreciation on this vehicle for the year ended
28 February 2022.
250 000 – 212 500 – 1
= 37 499Operation one part correct (2)
2.1.2 Themba is of the opinion that this older vehicle does not need to be replaced
as it is still in working order. Discuss two reasons why you disagree with him.
TWO valid reasons 
 Older vehicles need more maintenance and are less reliable than newer ones
 Older vehicles are not as fuel efficient as newer ones.
 It is easier to operate/drive a new vehicle than an old one.
(4)

2.2 Asset Disposal

2021 31 Vehicles 367 500 2021 31 Accumulated 122 500
July  July Depreciation on 
Vehicles
(91 875 + 30 625)
Bank 220 500
*
Loss on Sale of 24 500
Asset #
367 500 (Both Totals) Operation one part correct 367 500
(14)
* Book value X 90%
# Book value X 10%

2.3 Complete missing amounts (labelled A to E) in the Fixed / Tangible note the Balance (15)
Sheet for the year ended 28 February 2022.

Calculation Answer
A 250 000 + 367 500 617 500
B 212 500 + 91 875ignore brackets (304 375)
C 440 000
See 2.2.1 See 2.2
D 37 499+ 30 625 + 44 000ignore brackets (112 124)
E 617 500– 367 50 + 440 000 or 250 000 + 440 000 690 000

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Accounting (Grade 11) 4 March 2022 Common Test
NSC- Marking Guideline

QUESTION 3 (24 Marks, 22 Minutes)

PARTNERSHIPS – TRANSACTION ANALYSIS

3.1 Identify the General Ledger account that that is used to record the following
transactions. Write only the name of the account in the space provided in your
answer book.

3.1.1 Trading account

3.1.2 Current Account
3.1.3 Appropriation account
3.1.4 Profit and loss account
(4)

3.2
No. Account DR Account CR Amount

Consumable stores on
3.2.1 Consumable stores 2 000
hand

Accrued expenses /
3.2.2 Rent expense 3 500
Expenses payable

Current account:
3.2.3 Salary: Bukekayo 144 000
Bukekayo

Current Account:
3.2.4 Interest on Capital 13 200
Umuhle

3.2.5 Current Account: Umuhle Drawings: Umuhle 160 000

3.2.6 Current Account: Bukekayo Appropriation 33 750

(20)

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Accounting (Grade 11) 5 March 2022 Common Test
NSC- Marking Guideline

QUESTION 4 (22 Marks, 20 Minutes)

BANK RECONCILIATION

4.1 Give TWO reasons why it is important for Dube’s Driving School to prepare a Bank
Reconciliation Statement monthly.
TWO valid reasons  
 Important tool for internal control
 Identifies outstanding EFT’s and deposits;
 Identified errors and omissions and confirms the accuracy of all transactions.
 Detects fraud;
 Checks the bank account balance against the bank statement. (4)

4.2 Calculate the correct totals / balances for the following at the end of February 2022:
4.2.1 Cash Receipts Journal
20 420 + 3 500 + 52 + 3 600
= 27 572One part correct (6)
4.2.2 Cash Payments Journal
29 070 + 260 + 250 + 4 950
= 34 530One part correct (6)

4.3 Prepare the correct Bank Reconciliation Statement on 28 February 2022.

Bank Reconciliation Statement on 31 July 2015

Debit Credit
Balance as per bank statement 11 892
Outstanding deposits 750
Outstanding EFT’s No 450 2 300
No 451 1 700
Balance as per bank account 8 642

12 642  12 642
(6)
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TOTAL MARKS: [100]