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2.2 REKENINGKUNDIGE VERGELYKING     Trevor en Mandy is vennote in Trendy Klere.     GEVRA     Gebruik die onderstaande voorbeeld om die transaksie wat volg te ontleed.  Dui ‘n toename met ‘n +, ‘n afname met ‘n – en geen veranderinge met ‘n 0 aan.  Aanvaar dat die bankrekening ten alle tye gunstig is. (16)   Voorbeeld:   Betaal die telefoonrekening per tjek, R500. Nr. Bates Eienaarsbelang Laste Bv. – 500 – 500 0     Transaksies     2.2.1 Vennoot Mandy onttrek R4 800 se handelsvoorraad van die besigheid vir eie gebruik.     2.2.2 Kontantverkope ten bedrae van R12 000.  Die winsopslag is 60% op kosprys.     2.2.3 Betaal Trevor se maandelikse salaris per tjek, R17 000.     2.2.4 Koop toerusting op krediet by ABC Groothandelaars, R75 000.     2.2.5 ‘n Bonus is verskuldig aan vennoot Trevor, R10 000.         61

  VRAAG 1:  INKOMSTESTAAT EN AARP-BEGINSELS    (52 punte; 42 minute)   1.1 MM HANDELAARS     Inligting uit die boeke van MM Handelaars (met vennote M. Malan en M. Mofokeng) vir die finansiële jaar geëindig 28 Februarie 2019 word voorsien.     GEVRA:     1.1.1 Berei die Inkomstestaat (Staat van Komprehensiewe Inkomste) vir die finansiële jaar geëindig 28 Februarie 2019 voor. (47)   INLIGTING:     Opsioneel:  REGSKLIEK OP DIE BUTTON EN MAAK IN ‘N NUWE TAB OOP OM DIE  VOORAANSUIWERINGSPROEFBALANS AF TE LAAI        Uittreksel uit die Vooraansuiweringsproefbalans op 28 Februarie 2019:     BALANSSTAATREKENINGE AFDELING Debiet Krediet     Handelsvoorraad 81 500       Debiteurekontrole 892 450       Voorsiening vir oninbare skulde (1 Maart 2018)   2 750  

INSTRUKSIES   1. Beantwoord AL die vrae en maak seker jy volg die instruksies.   2. ‘n Spesiale ANTWOORDBOEK word verskaf waarin jy die toepaslike vrae moet beantwoord.      3. Toon ALLE bewerkings om deelpunte te verdien.   4. MAAK SEKER JY LAAI DIE KORREKTE ANTWOORDBLAD!!!! VERKEERDE DOKUMENTE=0 MAAK SEKER JOU DOKUMENTE EN LÊERS WORD IN DIE KORREKTE FORMAAT GESTOOR: ACCN GR11A T02 SBA004a JOU VAN JOU NAAM JOU DOKUMENT MOET IN ‘N PDF FORMAAT WEES.   5. Jy mag ‘n nie-programmeerbare sakrekenaar gebruik.   6. Indien jy besluit om die eksamen met die hand te voltooi, maak seker jy skryf netjies en leesbaar.  Onleesbare handskrif  = 0   7. Maak gebruik van die geallokeerde tyd voorsien by elke vraag.  Probeer om NIE daarvan af te wyk NIE.     SBA 004a Gr 11 Vraestel 1 AB.docx      SBA 004a Gr 11 Vraestel 1 AB.pdf    VRAAG ONDERWERP PUNTE TYD 1 Vennootskappe:  Inkomstestaat en AARP-beginsels 52 42 min 2 Venootskappe: Nota’s tot die Balansstaat, Uittreksel uit die Balansstaat en die Rekenkundige vergelyking 61 48 min 3 Vaste Bates: Terme, Bateverkope en Nota’s vir Vaste Bates 37 30 min     150 punte 120 min

1.2   GAAP PRINCIPLES: Study the adjustments above and choose the correct GAAP principle that is applied in each of the following adjustments. (5)   1.2.1 Adjustment 1       [OPTION1]     1.2.2 Adjustment 3       [OPTION2]     1.2.3 Adjustment 5       [OPTION3]     1.2.4 Adjustment 7       [OPTION4]     1.2.5 Adjustment 11       [OPTION5]         52

  B. Veranderinge in Kapitaalbydraes:       Die volgende transaksies is korrek geboekstaaf: ●       H. Pollard het op 1 November 2018 sy kapitaalbydrae met R250 000 verhoog. ●       Op 1 Desember 2018 het E. Jantjies sy kapitaal verminder met R150 000 . Die onderstaande transaksie is nie geboekstaaf nie: ●       Op 28 Februarie 2019, het H. Pollard sy kapitaal verminder met R50 000.         C. VERDELING VOLGENS DIE VENNOOTSKAPSOOREENKOMS:       Rente op Kapitaal: ●       Pollard is geregtig op 12% per jaar op sy kapitaalsaldo. ●       Jantjies is geregtig op R49 500 in totaal vir die jaar. Salaristoelaag: ●       Jantjies ontvang R144 000 vir die jaar. ●       Pollard se maandelikse salaris is R2 000 minder as Jantjies se salaris. Jaarlikse bonus: ●       Pollard ontvang ‘n jaarlikse bonus van R15 000. Finale verdeling van winste: ●       Die oorblywende wins van R16 000 word in die verhouding 3:2 tussen Pollard en Jantjies verdeel.     D. Die lening is op 1 Mei 2017 by FR Finkom aangegaan.  Die lening word terugbetaal in gelyke maandelikse paaiemente oor ‘n tydperk van 6 jaar.  Rente word nie gekapitaliseer nie en alle betalings, insluitend die huidige finansiële jaar is tot op datum betaal.     E. Besonderhede van ‘n werknemer wat uit Februarie 2019 se Salaris-joernaal weggelaat is:           Bruto Salaris Aftrekkings Werkgewersbydraes Netto Salaris Pensioen Fonds   WVF   SAID:  LBS TOTAAL Pensioen- fonds WVF R12 000 ? R120 ? R3 800 R1 440 R120 R8 200         ●       Die besigheid dra R1,50 vir elke R1 tot die Pensioenfonds by en R1 vir elke R1 aan WVF.  

INSTRUCTIONS   1. Read the following instructions carefully and make sure you follow them.   2. An ANSWER BOOK is provided in which you must answer all the relevant questions.   3. Show ALL calculations to earn part marks.           4. MAKE SURE YOU UPLOAD THE CORRECT ANSWER SHEET!!! INCORRECT UPLOADS =0   MAKE SURE YOU SAVE YOUR FILES CORRECTLY: ACCN GR11E T02 SBA004a YOUR SURNAME YOUR NAME YOUR DOCUMENT MUST BE IN PDF FORMAT.          5. You may use a non-programmable calculator.   6. If you choose to complete your exam by hand, make sure it is neat and legible.  Illegible handwriting = 0.   7. Make use of the time allocation provided for each question.  Try NOT to deviate from it.      SBA 004a GR 11 PAPER 1 AB.docx       SBA 004a GR 11 PAPER 1 AB.pdf        QUESTION TOPIC MARKS TIME 1 Partnerships:  Income Statement and GAAP principles 52 42 min 2 Partnerships: Balance sheet notes, Balance sheet extract and Accounting equation 61 48 min 3 Fixed assets: Concepts, Asset disposal and  Note for Fixed Assets 37 30 min     150 marks 120 min

  B. Changes to Capital contributions:       The following transactions were correctly recorded:   ●       On 1 November 2018 partner H. Pollard deposit R250 000 to increase his capital contribution. ●       On 1 December 2018 partner E. Jantjies decreased his capital by R150 000.   The following transaction was not recorded:   ●       On 28 February 2019, H. Pollard decreased his capital by R50 000.         C. Provisions of the partnership agreement:       Interest on capital: ●       Pollard is entitled to 12% p.a. on his capital balance. ●       Jantjies is entitled to R49 500 in total for the year.   Salary allowance: ●       Jantjies will receive R144 000 for the year. ●       Pollard’s monthly salary is R2 000 less than Jantjies.   Annual bonus: ●       Pollard receives an annual bonus of R15 000.   Share in remaining profit: ●       The remaining profit of R16 000 must be divided in the ratio 3:2 to Pollard and Jantjies respectively.     D. The loan from FR Finkom was received on 1 May 2017. It is to be repaid in equal monthly instalments over a period of 6 years. Interest is not capitalised, and all payments (including the current financial year) are up to date.     E. Details of an employee omitted from the February 2019 Salaries Journal are as follows:           Gross Salary Deductions Employers Contribution Net Salary Pension fund UIF SARS: PAYE TOTAL Pension fund UIF R12 000 ? R120 ? R3 800 R1 440 R120 R8 200         ●       The business contributes R1,50 for R1 to the Pension fund and R1 for R1 to UIF.  

  ADJUSTMENTS AND ADDITIONAL INFORMATION     1. Credit sales to D. Maslaba for R17 000 was not recorded. Cost of sales amounts to R10 000.       2. Stock on hand according to the physical stocktaking on 28 February 2019: ●       Trading stock, R70 900 ●       Packing material, R2 700     3. Depreciation on fixed assets amounts to R48 700 for the year.     4. N. Mokoena, a debtor, was declared insolvent. His outstanding balance of R4 500 must be written off as irrecoverable.     5. The provision for bad debts must be adjusted to R2 600.     6. The water and electricity account for February 2019 was received from the municipality, R1 600.  No entry was made.     7. Insurance expense includes an annual premium of R3 600 paid for the period 1 November 2018 to 31 October 2019.     8. The Bank statement from Bank of Africa reflected the following on 28 February 2019:       ●       Bank charges R745 and interest on current account R225.       ●       Unpaid cheque of a debtor (in settlement of a debt of R950)  R910     9. Interest on fixed deposit was only received for 9 months.  The fixed deposit was unchanged during the financial year. Interest is not capitalised.     10. Rent income includes rent for March 2019.  Note that rent was increased by 10% on 1 September 2018.     11. The loan statement received from the Bank of Africa:                   Balance on 1 March 2018 R 280 000 Capitalised interest             ? Repayments during the year including interest 95 000 Balance on 28 February 2019 220 000   Interest is capitalized.     12. Advertising consists of an annual contract with the newspaper for the entire financial year. Advertising was paid for 11 months only. From 1 November 2018, the contract rate was decreased by R450 per month.  

  NOMINAL ACCOUNTS SECTION         Sales   2 040 000     Cost of sales 1 200 000       Debtors allowances 36 700       Rent income   205 500     Salaries and wages 266 000       Pension Fund and UIF contributions 34 400       Bad debts 21 250       Water and electricity 53 900       Discount allowed 4 565       Telephone 29 700       Advertising 31 100       Insurance 48 600       Packing material 22 500       Bank charges 11 845       Interest on loan          ?       Interest on fixed deposit   27 000  

    Balances on 1 March 2015   Cost Accumulated depreciation Carrying value Land and buildings 400 000 ( 0) 400 000 Vehicles 300 000 (76 000) 224 000 Equipment 80 000 (20 000) 60 000       INFORMATION       Land and buildings       ●         Extension to the building at a cost of R120 000.       ●         Repairs to the store room amounts to R25 000       Vehicles       ●         Trade in an old vehicle at Jozi Motors on 1 September 2015 for R55 000.  This vehicle was bought on 1 March 2013 for R100 000.  The new vehicle was purchased on credit on the same day for R150 000.          ●         Depreciation on vehicles is calculated at 20% p.a. on the cost price / straight line method.       Equipment       ●         Kgosi Traders bought eight laptops at R6 000 each on 1 December 2015.       ●         Depreciation on equipment is calculated at 10% p.a on the diminishing balance method.           37 TOTAL 150