Grade 11 · CAPS

Grade 11 Reconciliations

Accounting practice questions and a worked example

Grade 11 Accounting reconciliation questions give you a bank statement extract or a creditor’s statement that disagrees with the business’s books. You update the cash journal totals, calculate the correct bank balance, complete the Bank Reconciliation Statement, and correct a creditor’s ledger account against the supplier’s statement. They come from the Eastern Cape Department of Education’s Grade 11 November papers for 2023, 2024 and 2025, each with the answer from the marking guideline.

Worked example

QUESTION 4: RECONCILIATIONS 4.3 CREDITORS 4.3.3 Identify TWO possible consequences a business may face if it fails to pay its creditors on time.

Answer & explanation

Any TWO valid points: • Loss of supplier trust • Interest or late payment penalties • Refusal of future credit from suppliers • Legal action from creditors • Disruption of stock or service delivery • Negative impact on business reputation
When a business fails to pay its creditors on time, it can face several consequences. One possible outcome is the loss of supplier trust, which can affect future business relationships and terms. Suppliers may become hesitant to extend credit or offer favorable terms. Another consequence is the imposition of interest or late payment penalties, which can increase the overall cost of purchases and strain the business's finances. These consequences can have a significant impact on the business's operations and financial health.

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Reconciliations

Question 1 of 3

QUESTION 1: RECONCILIATIONS 1.1 BANK RECONCILIATION AQUA STORES The information relates to August 2023. The owner, Flavo, uses the official bank statement which is available on the 26th of each month, to complete the monthly bank reconciliation process. 1.1.1 Update the Cash Journals by completing the tables provided in the ANSWER BOOK.

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More practice questions

Explore additional Grade 11 Reconciliations questions.

  • 2
    QUESTION 1: RECONCILIATIONS 1.2 CREDITORS RECONCILIATION Simple Stores buys goods on credit from Nandu Suppliers. A statement of account was received on 28 August 2023. The balance did not correspond with the balance on the Creditors Ledger account of Nandu Suppliers. 1.2 Complete the table provided in the ANSWER BOOK, to show the effect of each error or omission. Indicate an increase (+) or decrease (-) next to each amount.
  • 3
    QUESTION 1: RECONCILIATONS AND INTERNAL CONTROL 1.1 CREDITORS RECONCILIATION Muller Stores has received a statement from a creditor, Kouga Traders at the end of October 2024. The balance on the statement does not correspond with the balance in the Creditors’ Ledger of Muller Stores. 1.1.1 Use the table provided in the ANSWER BOOK to show changes/corrections in the Creditors Ledger of Muller Traders on 31 October 2024. Use the Debtor’s statement received from Kouga Traders’ column to indicate the changes/corrections that need to be made on the statement of Kouga Traders. Indicate an increase (+) or decrease (–) next to each amount. The provisional balances are R29 174 (Creditors Ledger) and R29 554 (statement).
  • 4
    QUESTION 4: RECONCILIATIONS 4.1 RECONCILIATION CONCEPTS Choose the most appropriate word(s) from the options in brackets. 4.1.1 Bank charges are usually recorded in the (Cash Receipts Journal / Cash Payments Journal).
  • 5
    QUESTION 4: RECONCILIATIONS 4.1 RECONCILIATION CONCEPTS Choose the most appropriate word(s) from the options in brackets. 4.1.2 An error on the bank statement must be corrected in the (Cash Journal / General Ledger / Bank Reconciliation Statement).

Common mistakes

  • Recording the bank’s error in the journals. A debit order duplicated by the bank goes in the Bank Reconciliation Statement, not the Cash Payments Journal.
  • Correcting the wrong side in a creditors reconciliation. An invoice of R6 300 dated after the statement date is added to the statement, not to the ledger account.
  • Dropping the sign of an unfavourable balance. The correct bank balance is – 6 450 + 108 970 – 98 565 = 3 955.

More Grade 11 Accounting topics

Reconciliations in other grades

Aligned to CAPS Grade 11 Accounting — Reconciliations. Curriculum source: CAPS for the FET Phase, Department of Basic Education.

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