Date: SEPTEMBER 2024
Time: 1 ½ Hours
Marks: 100
Grade: 11
Subject: Accounting
Question paper: 1
Name and Surname:
INSTRUCTIONS AND INFORMATION
1. Read the following instructions carefully and follow them exactly.
2. Answer ALL the questions.
3. A special ANSWER BOOK is provided in which ALL the questions must be answered.
4. Show ALL calculations to earn partial Marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer questions.
7. Where applicable show ALL calculations to ONE decimal place.
8. If you prefer you may use the Financial Indicators Formula Sheet at the end of this question
paper. Its use is NOT mandatory.
9. Write neatly and legibly.
Topics in this paper
• Budget concepts and terminology
• Debtors Collection Schedule
• Cash budget: preparation and analysis
• Deviations and cost control comments
• Manufacturing cost accounting (WIP and factory overhead)
• Break-even analysis
• Trading account and gross profit under the periodic system
• Inventory and purchasing adjustments
Pg 1/ 8 www.summariessa.co.za Author: DAN SMI
Grade: 11 Subject: Accounting Date: SEPTEMBER 2025
, QUESTION 1
Choose the correct term in the block and match it to the given statement. Write only
the correct term next to the question number.
Capital budget; Short-term budget; Zero-based budget; Non-cash item; Projected
Income Statement; Medium-term budget; Cash budget
1.1.1 A budget that is compiled anew every year and is not dependent on previous
figures.
1.1.2 A financial report that estimates future income and expenses.
1.1.3 An accounting entry such as depreciation that does not represent a cash flow.
1.1.4 A budget that is prepared for a short period such as one year.
1.1.5 A budget that shows the business's expected cash receipts and payments.
(5 x 1)(5)
1.2 NKOSI TRADERS
You are provided with information relating to Nkosi Traders. Their financial year ends
on 31 December 2025. The business is owned by Lebo Maseko.
1.2.1 Complete the Debtors Collection Schedule. (6)
1.2.2 Calculate the missing amounts indicated by the letters A to I. in the
Cash Budget. (15)
Pg 2/ 8 www.summariessa.co.za Author: DAN SMI
Grade: 11 Subject: Accounting Date: SEPTEMBER 2025
, INFORMATION A
i. Cash budget statement for the period January and February 2026
Cash receipts/payments January February
Cash sales 504000 A
Debtors Collection B C
Rental income 45000 D
Cash purchases 54000 E
Payments to creditors 87300 F
Miscellaneous expenses G 18000
Loan 30000
Interest on loan (12%) 1500 H
Salaries I 126000
ii. Balances on 31 December 2025:
Loan: ABSA Bank 150000
Accrued expenses: Salaries 18000
iii. Rent will increase by 15% from February 1 2026.
iv. Salaries increased by 5% effective February 1 2026.
v. A loan repayment will be made on January 31 2026.
vi. Miscellaneous expenses increase by R1 500 each month.
vii. Sales and purchases:
Actual and Budgeted
Months Credit purchases
Credit Sales
November 171000 81000
December 172500 90000
January 168000 99000
February 163800 108000
• Credit sales are 25%.
Pg 3/ 8 www.summariessa.co.za Author: DAN SMI
Grade: 11 Subject: Accounting Date: SEPTEMBER 2025
Time: 1 ½ Hours
Marks: 100
Grade: 11
Subject: Accounting
Question paper: 1
Name and Surname:
INSTRUCTIONS AND INFORMATION
1. Read the following instructions carefully and follow them exactly.
2. Answer ALL the questions.
3. A special ANSWER BOOK is provided in which ALL the questions must be answered.
4. Show ALL calculations to earn partial Marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer questions.
7. Where applicable show ALL calculations to ONE decimal place.
8. If you prefer you may use the Financial Indicators Formula Sheet at the end of this question
paper. Its use is NOT mandatory.
9. Write neatly and legibly.
Topics in this paper
• Budget concepts and terminology
• Debtors Collection Schedule
• Cash budget: preparation and analysis
• Deviations and cost control comments
• Manufacturing cost accounting (WIP and factory overhead)
• Break-even analysis
• Trading account and gross profit under the periodic system
• Inventory and purchasing adjustments
Pg 1/ 8 www.summariessa.co.za Author: DAN SMI
Grade: 11 Subject: Accounting Date: SEPTEMBER 2025
, QUESTION 1
Choose the correct term in the block and match it to the given statement. Write only
the correct term next to the question number.
Capital budget; Short-term budget; Zero-based budget; Non-cash item; Projected
Income Statement; Medium-term budget; Cash budget
1.1.1 A budget that is compiled anew every year and is not dependent on previous
figures.
1.1.2 A financial report that estimates future income and expenses.
1.1.3 An accounting entry such as depreciation that does not represent a cash flow.
1.1.4 A budget that is prepared for a short period such as one year.
1.1.5 A budget that shows the business's expected cash receipts and payments.
(5 x 1)(5)
1.2 NKOSI TRADERS
You are provided with information relating to Nkosi Traders. Their financial year ends
on 31 December 2025. The business is owned by Lebo Maseko.
1.2.1 Complete the Debtors Collection Schedule. (6)
1.2.2 Calculate the missing amounts indicated by the letters A to I. in the
Cash Budget. (15)
Pg 2/ 8 www.summariessa.co.za Author: DAN SMI
Grade: 11 Subject: Accounting Date: SEPTEMBER 2025
, INFORMATION A
i. Cash budget statement for the period January and February 2026
Cash receipts/payments January February
Cash sales 504000 A
Debtors Collection B C
Rental income 45000 D
Cash purchases 54000 E
Payments to creditors 87300 F
Miscellaneous expenses G 18000
Loan 30000
Interest on loan (12%) 1500 H
Salaries I 126000
ii. Balances on 31 December 2025:
Loan: ABSA Bank 150000
Accrued expenses: Salaries 18000
iii. Rent will increase by 15% from February 1 2026.
iv. Salaries increased by 5% effective February 1 2026.
v. A loan repayment will be made on January 31 2026.
vi. Miscellaneous expenses increase by R1 500 each month.
vii. Sales and purchases:
Actual and Budgeted
Months Credit purchases
Credit Sales
November 171000 81000
December 172500 90000
January 168000 99000
February 163800 108000
• Credit sales are 25%.
Pg 3/ 8 www.summariessa.co.za Author: DAN SMI
Grade: 11 Subject: Accounting Date: SEPTEMBER 2025
