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Grade 11 Written Report -Answer Book 2020.Docx

This document is an answer sheet for a Grade 11 Accounting written report, detailing the marking rubric and criteria for two main questions: Bank Reconciliation and Creditors Reconciliation. It includes sections for supplementary entries, calculations, explanations, and auditing concerns related to cash management. The total marks for the assessment are 50, with specific allocations for each question and sub-question.

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Reece Il
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5 views7 pages

Grade 11 Written Report -Answer Book 2020.Docx

This document is an answer sheet for a Grade 11 Accounting written report, detailing the marking rubric and criteria for two main questions: Bank Reconciliation and Creditors Reconciliation. It includes sections for supplementary entries, calculations, explanations, and auditing concerns related to cash management. The total marks for the assessment are 50, with specific allocations for each question and sub-question.

Uploaded by

Reece Il
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ACCOUNTING GRADE 11

ANSWER SHEET
WRITTEN REPORT - 2020

NAME: MARKS:50
DATE: DURATION: 1 HOUR

MARKING RUBRIC

Mark
CRITERIA Learner
Total

QUESTION 1: BANK RECONCILIATION

1.1 -1.5
20
Supplementary Cash Journals
Calculation of Bank balance Allocate marks as per 05
marking guideline
Bank Reconciliation Statement 09

Post-dated Cheques 02

Correction of errors 03

1.6 -1.7

Financial statements - records of 02


cheques Allocate marks as per
marking guideline
Auditing and management of cash 09

QUESTION 2: CREDITORS RECONCILIATION


Allocate marks as per 10
Reconciliation of creditors marking guideline

Marks Obtained
Question Question Two T
One o
t

1
a
l

/40 /10
50 x
0.8=40
QUESTION 1

1.1. SUPPLEMENTARY ENTRIES IN THE CASH JOURNALS

(A) Cash Receipt Journal – January 2020


Day Details Bank Sundry accounts
Amount Details
Total 35 300 35 300

(B) Cash Payment Journal - January 2020

Day Details Bank Sundry accounts


Amount Details
Total 52 600 52 600

2
1.2 Calculate the bank account balance on 31 January 2020.

1.3 Bank Reconciliation Statement of Top Fashion Traders on 31 January 2020.

Debit Credit

3
1.4 Explain why a post-dated cheque received on 25 December 2019 but dated 25 February
2020 does not appear in the Bank Reconciliation Statement​

1.5 Identify the party that made the error of R2 050, which was corrected in the Bank
Reconciliation Statement on the credit side? List One possible reason for this error.

Reason

1.6 If 31 January 2020 was the end of the financial year, indicate how cheque no.698, for R6
​ 500 would be recorded in the financial statements of the business. [Refer to information F]

4
2

1.7 As an external auditor indicate why are you concerned about the management of cash?

(a)​ Identify ONE problem that justifies his concern. Quote figures

(b) Provide TWO points of advice to avoid this problem in future

(c) Comment on the bank balance of Top Fashion Traders and quote relevant figures. Advice
the management how to improve the balance, provide ONE point.

Total Marks

5
50

6
QUESTION 2: CREDITORS RECONCILIATION

CREDITORS LEDGER ACCOUNT STATEMENT


Balanc
​ 30 000​ ​ 31 500 ​
e

Final
Balanc
e

Total Marks

10

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