Exam (elaborations)
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- Course
- Accounting
- Institution
- 12th Grade
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NATIONALSENIOR CERTIFICATE
GRADE 12
ACCOUNTING
NOVEMBER 2015
MEMORANDUM
MARKS: 300
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 penalty for misplaced 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 a final figure, allocate the part-mark for the working for that
figure (not the method mark for the 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. This memorandum is not for public distribution, as certain items might imply incorrect treatment. The
adjustments made are due to nuances in certain questions.
8. Where penalties are applied, the marks for that section of the question cannot be a final negative.
9. Where method marks are awarded for operation, the marker must inspect the reasonableness of the
answer and at least one part must be correct before awarding the mark.
10. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect
at least in part.
11. Be aware of candidates who provide valid alternatives beyond the marking guideline.
12. Codes: f = foreign item; p = placement/presentation.
This memorandum consists of 15 pages.
Copyright reserved Please turn over
, Accounting 2 November 2015
NSC – Memorandum
QUESTION 1
1.1 BANK RECONCILIATION AND INTERNAL CONTROL
1.1.1 Calculate the correct bank balance on 30 June 2015.
Cash Receipts Journal Cash Payments Journal
(figures only) (figures only)
87 220 74 860
*OR: 7900 in CRJ
21 000 & 9700 in CPJ
* 1 800
10 500 Both essential: 2 marks 6 500
8 960: 3 marks
/ 2460: 2 marks
2 250
210
118 720 Foreign items -1 (max -2) 85 620
Bank balance on 30 June 2015:
33 100 2 method marks
See CRJ total See CPJ total
– 2 300 + 118 720 – 85 620 = 30 800 one part correct 13
OR: – 2 300 + 87 220 – 74 860 + 21 000 + 10 500 – 1 800 – 6 500 – 2 250 – 210 = 30 800
1.1.2 Bank Reconciliation Statement on 30 June 2015
Alternative Debit Credit
Balance per Bank Statement R20 400 Balancing figure R 20 400
Could be Dr / Cr
Credit outstanding deposit 18 500 18 500
Debit outstanding cheques: Could use – signs
No. 962 (4 500) R 4 500
No. 982 (2 200) 2 200
No. 986 (1 400) 1 400
Balance as per Bank Account 30 800 30 800 See 1.1.1
38 900 38 900
-1 incorrect / no details (max -2) Foreign entries -1 (max -2)
For 2-column method with no Debit/Credit indicated, assume left=Debit and right=Credit.
For 2-column method with brackets used, do not accept brackets/negatives in any column. 8
1.1.3 Refer to Information E. Identify TWO separate problems with evidence from the
information. Give advice for EACH problem.
PROBLEM WITH EVIDENCE ADVICE
Theft / Fraud / Error/ Internal control Check that the total of cash slips agree
measures are lacking. Some of the cash to the total of the deposit slip.
slips (R7 000) have not been deposited / Specific advice required based on evidence.
recorded.
Problem Evidence Figures not required
Rolling of cash / The deposit occurs Cash collected must be deposited
much later after receipt of cash (15 days). immediately / Sales person must not
deposit cash / Divide duties
Problem Evidence Figures not required 6
Specific advice required based on evidence.
Copyright reserved Please turn over
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