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    GR 11 Accounting P2 (English) 2023 Answer Book

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    plyometrics

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    GR 11 Accounting P2 (English) 2023 Answer Book

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    25 views11 pages
    plyometrics

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    Gr 11 Accounting P2 (English) 2023 Answer Book

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    25 views11 pages

    GR 11 Accounting P2 (English) 2023 Answer Book

    Uploaded by

    sphishmanoble
    plyometrics

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    © All Rights Reserved
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    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.
    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.

    P.T.O.
    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

    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.
    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

    2.2.2 DR WORK-IN-PROCESS STOCK B3 CR

    P.T.O.
    ACCOUNTING ANSWER BOOK 5
    (PAPER 2) GRADE 11

    2.2.3 DR FINISHED GOODS STOCK B4 CR

    2.2.4 DR FACTORY OVERHEAD COST N2 CR

    2.3.1 Calculate the break-even point for the financial year ended 28 February
    2023. (6)

    P.T.O.
    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

    TOTAL

    40

    P.T.O.
    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

    3.2.2
    Calculate the stock turnover rate.

    P.T.O.
    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.
    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.
    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

    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.
    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

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