# Accounting Grade 12 Paper 1 FS Prelim 2023 Addendum > Grade 12 Accounting Paper 1 addendum from the FS Prelim 2023, 9 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/2023-fs-prelim-p1-answer-book/b4aa51c0-dd4d-4bbf-b4f6-948a4b12762d - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2023 - Exam period: FS Prelim - Paper: 1 - Curriculum: CAPS - Pages: 9 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 FS Prelim 2023 Addendum](https://www.hlayiso.com/library/2023-fs-prelim-p1-answer-book/b4aa51c0-dd4d-4bbf-b4f6-948a4b12762d) ## About this document Accounting · Grade 12 · FS Prelim · 2023. Addendum, 9 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 SCHOOL: ________________________________________________________ LEARNER: _______________________________________________________ PREPARATORY EXAMINATION GRADE 12 ACCOUNTING P1 SEPTEMBER 2023 ANSWER BOOK QUESTION MARKS INITIAL MODERATOR 1 2 3 4 TOTAL This answer book consists of 9 pages. Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting P1 2 FS/September 2023 Grade 12 Prep. Exam. Answer Book QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 1.1.4 4 1.2 .1 THUTHUKANI LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2023 Sales Cost of sales (1 845 000) Gross profit Other income Rent income (92 736 Bad debts recovered (3 850 Gross operating income Operating expenses Salaries and wages (360 500 Stationery (24 684 Insurance (46 500 Directors' fees (276 000 Audit fees (24 600 Bad debts 16 680 Depreciation 46 000 Operating profit Interest income (12 400 Profit before interest expense Interest expense Profit before income tax Income tax Net profit for the year 422 450 41 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting P1 3 FS/September 2023 Grade 12 Prep. Exam. Answer Book 1.2.2 CALCULATE Net trade debtors Trade debtors (458 650 4 1.2.3 RETAINED INCOME Balance at the beginning of the year 1 682 458 Net profit after tax 422 450 Dividends Interim 21 600 Balance at the end of the year 8 1.2.4 Calculate the amount for Non-current Liabilities in the Statement of Financial Position on 28 February 2023. Mortgage loan: Westside Bank (760 000 3 60 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting P1 4 FS/September 2023 Grade 12 Prep. Exam. Answer Book QUESTION 2 2.1 (i) The acid-test ratio 4 (ii) The debt/equity ratio 3 (iii) The return on average shareholders' equity 6 2.2 Use the given information in D (i) to confirm the value of the closing stock on 28 February 2023 as R1 350 000. 5 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting P1 5 FS/September 2023 Grade 12 Prep. Exam. Answer Book 2.3 Reconciliation between profit before taxation and cash generated from operations Profit before tax Adjustments in respect of: Operating profit before changes in working capital Changes in working capital Cash generated from operations 13 2.4 Calculate the amount used for the purchase of fixed assets. 5 2.5 Cash flows from financing activities 5 2.6 Complete the net change in Cash and Cash equivalents as it would appear in the Cash Flow Statement. Net change 4 45 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting P1 6 FS/September 2023 Grade 12 Prep. Exam. Answer Book QUESTION 3 3.1 3.1.1 3.1.2 3.1.3 3.1.4 3.1.5 5 3.2 Explain why the market value is so important in this regard. If the company issued all its unissued shares the following year, how much capital could it expect to raise for the company? 7 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting P1 7 FS/September 2023 Grade 12 Prep. Exam. Answer Book 3.3 Rather than issue more shares, the directors are considering taking out additional loans. Quote TWO relevant financial indicators (actual ratios or percentages) to support their opinion. 6 3.4 John Davids, one of the shareholders, is currently the owner of 400 000 shares. What will happen to his shareholding if all the unissued shares are issued? Show calculations to support your answer. 6 3.5 On 1 March 2022 additional shares were issued at R3,00 each. Quote and explain relevant financial indicators with figures to show why the existing shareholders will be satisfied with this price. 6 30 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting P1 8 FS/September 2023 Grade 12 Prep. Exam. Answer Book QUESTION 4 4.1 The board of directors wants to buy computers and IT systems from a certain computer company for R25 million. You find out the CEO’s wife is a majority shareholder in the computer company. Express your opinion on the scenario mentioned above. Provide ONE point. How should this scenario be handled by a board of directors or by shareholders? Provide ONE point. 4 4.2 How should this scenario be handled by you as a non- executive director? 2 4.3 External independent auditors may charge high audit fees for their specialized work. What do you think will be the consequences for the auditor if it is proven that the auditor was negligent in the performance of his responsibilities? Name TWO consequences. 4 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting P1 9 FS/September 2023 Grade 12 Prep. Exam. Answer Book 4.4 Refer to the information regarding Carpets Galore Ltd. Do you think the share price of the company increased or dropped? How will shareholders react to this? Provide TWO points. 5 15 TOTAL: 150 Copyright reserved Please turn over ## Related documents - [Accounting P1 Nov 2023 Answer Book Eng](https://www.hlayiso.com/library/accounting-p1-nov-2023-answer-book-eng/aaeb9a41-12fe-49c2-9ba7-37693926cbd5) — Accounting · Addendum · 2023 · Eng - [ACCOUNTING P1 GR12 MEMO JUNE 2023 English](https://www.hlayiso.com/library/accounting-p1-gr12-memo-june-2023-english/b15a4456-2317-4298-9022-fc735fdc6214) — Accounting · Memo · 2023 · Eng - [ACCOUNTING P1 GR12 AB JUNE 2023 English](https://www.hlayiso.com/library/accounting-p1-gr12-ab-june-2023-english/bd3063b8-4a97-4989-8498-a76ffb82e60a) — Accounting · QP · 2023 · Eng - [ACCOUNTING P1 GR12 QP SEPT 2023 English](https://www.hlayiso.com/library/accounting-p1-gr12-qp-sept-2023-english/86b103e1-05b3-4ddd-9077-02c461ae7d17) — Accounting · QP · 2023 · Eng - [Accounting P1 Nov 2023 Eng](https://www.hlayiso.com/library/accounting-p1-nov-2023-eng/4c9e315d-40c3-4d80-9775-322ef8d07061) — Accounting · QP · 2023 · Eng - [ACCOUNTING P2 GR12 ANSWER BOOK JUNE 2023 English](https://www.hlayiso.com/library/accounting-p2-gr12-answer-book-june-2023-english/11493bdc-95ff-4293-b727-2b3a22027be3) — Accounting · Addendum · 2023 · Eng ## More from Grade 12 Accounting - [Accounting](https://www.hlayiso.com/library/accounting/8f42a6a4-9593-4d36-86b1-d890dd1bb1bf) — Guide - [Acc P2 Memo ENg watermark](https://www.hlayiso.com/library/acc-p2-memo-eng-watermark/5c899e95-f3c2-4bf6-b539-ed8b1bcec50d) — Memo · 2025 · Eng - [ACCOUNTING P1 GR12 QP JCT 2025 AFR D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-qp-jct-2025-afr-d-watermark/c6a5692b-3cb0-464b-bb82-67d6ce83bfdd) — QP · 2025 · Afr - [ACCOUNTING P1 GR12 QP JCT 2025 ENG D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-qp-jct-2025-eng-d-watermark/84d92eb0-f5bd-4442-bb6d-c55cdc52e25d) — QP · 2025 · Eng - [ACCOUNTING P2 QP GR12 JCT 2025 ENG D watermark](https://www.hlayiso.com/library/accounting-p2-qp-gr12-jct-2025-eng-d-watermark/13425f71-aba6-4328-b084-d9b108884315) — QP · 2025 · Eng - [Accounting P1 (Afrikaans) June 2025 Possible Answers](https://www.hlayiso.com/library/accounting-p1-afrikaans-june-2025-possible-answers/2f10559b-54d6-47f4-9fc2-b2efc62644c4) — Memo · 2025 · Afr ## Collection - [Grade 12 past papers](https://www.hlayiso.com/grade-12/past-papers) --- Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. 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