GERT SIBANDE DISTRICT
ACCOUNTING
GRADE 11
PROJECT
TERM 2 – 2025
MARKING GUIDELINE
TOTAL: 100 MARK (Converted to 50)
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 foreign item penalty for misplaced
items). 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 the answer is incorrect, mark the calculations
provided.
4. 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.
5. Where indicated, part-marks may be awarded to differentiate between
differing qualities of answers from the candidate.
6. Where penalties are applied, the marks for that section of the question cannot
be a final negative.
7. Where method marks are awarded for operation, the marker must inspect the
reasonableness of the answer before awarding the mark.
8. “Operation” means “Check operation”. “One part correct” means “Operation
and one part correct”.
9. In awarding method marks, ensure that candidates do not get full marks for
any item that is incorrect at least in part.
10. Be aware that some candidates proved valid alternatives beyond the
memorandum.
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Accounting – Grade11 2 Project: June 2025
1.1.1 Calculate the missing figures (a - e) in the Fixed asset note for
28 February 2025.
NR. CALCULATIONS AMOUNTS
a 950 000
6 450 000 – 5 500 000 2 No part marks
144 000 x 20/100 x 11/12
b 7 600 *
144 000 – (110 000 + 26 400) 5 one part correct
136 400 three marks
Asset disposal see above = 26 400
Old vehicles
990 000 – 144 000
c 235 600*
846 000 x 20/100 = 169 200* one part correct
New vehicle
480 000 x 20/100 x 5/12 = 40 000 * 5
d 420 000 – 185 000 2 235 000
No part marks
Old equipment 23 500
e 208 500 – 185 000 2 No part marks 16
CAPITAL L. LINK D. FIELDS
Openings balance 3 200 000 2 600 000
Increase of capital 500 000
Decrease of capital (100 000) (450 000)
Closing balance 3 600 000 2 150 000
4
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Accounting – Grade11 3 Project: June 2025
1.1.2 BURROWS TRADERS
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED
28 FEBRUARY 2025
Sales (4 200 000 x 150/100 6 300 000
Cost of sales (4 200 000)
Gross Profit Operation 4 2 100 000 *
Operating income Operation 333 910 *
Discount received 9 790
Rent Income (238 400 – 34 880) 203 520 *
Commission Income (110 000 + 10 000) 120 000 *
Profit on the sale of asset 8 200 – 7 600 600
Gross Income Operation 12 2 433 910 *
Operating expenses Operation (1 107 930)
Discount allowed 7 230
Telephone 45 450
Salaries (415 100 + 16 500) 431 600 *
Contributions (86 510 + 2 145) 88 655 *
1 980 one mark+ 165 one mark
Bad Debts (28 600 + 4 800) 33 400 *
Water and electricity (70 100 + 5 980) 76 080
Provision for Bad debts adjustment 2 600
(17 400 – 14 800)
Packing material 33 175
Insurance (66 600 – 15 080) 51 520 *
Advertising (53 400+ 4 650) 58 050 *
Bank charges (11 320 + 1 250) 12 570
Trading stock deficit (695 000 – 686 500 8 500
Depreciation see Fixed asset note 259 100
Operating profit 31 1 325 980 *
Interest income balancing figure 54 020
Profit before interest expense Operation 1 380 000 *
Interest expense (180 000)
Net Profit for the year Operation 3 1 200 000
50
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Accounting – Grade11 4 Project: June 2025
1.1.3 BURROWS TRADERS
STATEMENT OF FINANCIAL POSITION ON 28 FEBRUARY 2025
1 350 000
CURRENT ASSETS
Inventory 686 500 + 2 725 689 225
*
Trade and other receivables
294 800 – 4 800 – 17 400 + 10 000 + 15 080 297 680 *
BD PFBD Com inc Insur
Cash and cash equivalents balancing figure 363 095
TOTAL ASSETS 8
EQUITY AND LIABILITIES
OWNERS’ EQUITY 6 294 350
NON-CURRENT LIABILITIES 590 000
Loan: FireFox Bank
1 250 000 + 180 000 – 540 000– 300 000 3 590 000 *
890 000 three marks
CURRENT LIABILITIES 900 000
Trade and other payables
1 320 + 1 980 165 +165
432 432 + 34 880 + 5 980 + 4 650 + 3015 + 3 300+ 484 587 *
330
Rent Inc W&E Adver PAYE PF UIF
Bank overdraft 115 413
Current portion of loan 300 000
TOTAL EQUITY AND LIABILITIES 13 24
*one part correct
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Accounting – Grade11 5 Project: June 2025
1.1.4 Calculate the following ratios
CURRENT RATIO
CALCULATION AMOUNT
1,5:1*
1 350 000: 900 000
one part correct
DEBT EQUITY RATIO
CALCUATIONS AMOUNT
0.09 : 1 *
590 000 : 6 294 350 accept 0,1:1
one part correct 6
TOTAL MARKS
100
CONVERTED
50
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Accounting – Grade11 6 Project: June 2025
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