# Accounting Grade 12 Paper 1 MP Prelim 2022 Addendum > Grade 12 Accounting Paper 1 addendum from the MP Prelim 2022, 10 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/2022-mp-prelim-p1-answer-book/06d709b7-2645-45b4-83c9-9ae95a52b21a - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2022 - Exam period: MP Prelim - Paper: 1 - Curriculum: CAPS - Pages: 10 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 12](https://www.hlayiso.com/library/grade-12) › [Accounting](https://www.hlayiso.com/library/grade-12/accounting) › [Accounting Grade 12 Paper 1 MP Prelim 2022 Addendum](https://www.hlayiso.com/library/2022-mp-prelim-p1-answer-book/06d709b7-2645-45b4-83c9-9ae95a52b21a) ## About this document Accounting · Grade 12 · MP Prelim · 2022. Addendum, 10 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 Downloaded from hlayiso.com NAME OF SCHOOL NAME OF CANDIDATE CLASS NO. NATIONAL SENIOR CERTIFICATE ACCOUNTING P1 GRADE 12 SEPTEMBER 2022 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 10 pages Copyright reserved ### Page 2 Downloaded from hlayiso.com Assounting/P2 2 MDE/September 2022 NSS Answerbook QUESTION 1 KELLY LTD 1.1 Retained income note on 28 February 2022. Balance on 1 March 2021 Ordinary share dividends Balance on 28 February 2022 11 1.2 STATEMENT OF FINANCIAL POSITION ON 28 FEBRUARY 2022. ASSETS NON-CURRENT ASSETS Fixed assets 3 940 900 CURRENT ASSETS TOTAL ASSETS L EQUITY AND LIABILITIES Shareholders’ equity NON-CURRENT LIABILITIES Loan (1 155 000 CURRENT LIABILITIES 888 200 Trade and other payables 231 920 TOTAL EQUITY AND LIABILITIES 27 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Assounting/P2 3 MDE/September 2022 NSS Answerbook 1.3.1 Calculate the number of shares that Paul must buy to gain control of the company. 4 1.3.2 Paul wants to buy shares at the current Net asset value without advertising them to the public. As an existing shareholder, why would you not be satisfied with this arrangement? Explain. Provide TWO points. 4 1.4 Kelly Ltd is planning to spend R500 000 on staff development and training over the next two years. Explain where this amount should be shown in the published annual report, and provide a reason for your answer. EXPLANATION REASON 4 TOTAL MARKS 50 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Assounting/P2 4 MDE/September 2022 NSS Answerbook QUESTION 2 2.1 Reconciliation between net profit before tax and cash generated from operations for the year ended 30 June 2022: Net profit before tax Adjustment in respect of: Operating profit before changes in working capital 4 2.2.1 Calculate: Taxation paid WORKINGS ANSWER 4 2.2.2 Calculate: Fixed assets purchased WORKINGS ANSWER 6 2.2.3 Calculate: Shares issued WORKINGS ANSWER 2 2.2.4 Calculate: Funds used for the repurchase of shares WORKINGS ANSWER 2 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Assounting/P2 5 MDE/September 2022 NSS Answerbook 2.2.5 Calculate: Net change in cash and cash equivalents WORKINGS ANSWER Net change in cash and cash equivalents Cash and cash equivalents at the beginning Cash and cash equivalents at the end 4 2.3.1 Calculate: Earning per share WORKINGS ANSWER 4 2.3.2 Calculate: Debt-equity ratio WORKINGS ANSWER 3 2.3.3 Calculate: Return on average capital employed WORKINGS ANSWER 6 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Assounting/P2 6 MDE/September 2022 NSS Answerbook QUESTION 3 3.1. 3.1.1 3.1.2 3.1.3 3.1.4 3.1.5 5 3.2.1 Jack is of the opinion that KAT Ltd is handling its working capital more effectively and is in a better liquidity situation than KIT Ltd. Explain and quote THREE financial indicators to support his opinion. 9 3.2.2 The operating efficiency of KIT Ltd are better than that of KAT Ltd. Quote and explain ONE financial indicator to support your opinion. 2 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Assounting/P2 7 MDE/September 2022 NSS Answerbook 3.2.3 Which company uses more loans? Quote a financial indicator to support your answer. Explain whether this is a good idea or not. In each case, quote a financial indicator to support your answer. 6 3.2.4 Compare and comment on the dividends pay-out policies of the TWO companies. Financial indicator or Comparison and comment explanation with figures KIT Bpk KAT Bpk 8 3.2.5 KIT Ltd has a better percentage return, earnings and dividends than KAT Ltd. Explain by quoting THREE financial indicators to support this opinion. 9 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Assounting/P2 8 MDE/September 2022 NSS Answerbook 3.2.6 Explain why the existing shareholders of KIT Ltd are happy with this. Quote a financial indicator/figure to support your answer. 3 Explain why the existing shareholders of KAT Ltd are very disappointed with this. Quote a financial indicator/figure to support your answer. 3 TOTAL MARKS 45 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Assounting/P2 9 MDE/September 2022 NSS Answerbook QUESTION 4 4.1. Explain what is meant by Corporate Governance. 2 4.2 Provide TWO examples of corporate governance that would occur in a company. 4 4.3 Give TWO examples of audit evidence 4 4.4 Explain why an independent auditor would want to see that the following GAAP principles that are applied: ● Matching ● Going concern 4 4.5 Refer to paragraph 3. Explain why you would be satisfied with this audit report opinion. 3 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com Assounting/P2 10 MDE/September 2022 NSS Answerbook 4.6 To whom is an audit report addressed? Give reason for your answer. 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