# Accounting Grade 12 Eastern Cape June 2014 Addendum > Grade 12 Accounting addendum from the Eastern Cape June 2014, 24 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accounting-answer-book-26-5-14-d/6ebe92f4-f615-4ca3-8569-bf1e32af1c92 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2014 - Exam period: Eastern Cape June - Curriculum: CAPS - Pages: 24 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 Eastern Cape June 2014 Addendum](https://www.hlayiso.com/library/accounting-answer-book-26-5-14-d/6ebe92f4-f615-4ca3-8569-bf1e32af1c92) ## About this document Accounting · Grade 12 · Eastern Cape June · 2014. Addendum, 24 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 NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING ANSWER BOOK COMMON TEST JUNE 2014 NAME: _____________________________________ GRADE: 12 _____ QUESTION MARKS MODERATED 1. 2. 3. 4. 5. 6. TOTAL This answer book consists of 20 pages. *ACABE* Copyright Reserved Please Turn Over ### Page 2 Downloaded from hlayiso.com Accounting 2 June 2014 Common Test NSC – Answer Booklet QUESTION 1 1.1 Why is it important for a business to prepare a monthly Bank Reconciliation Statement? Provide TWO points. 4 1.2 One of the cheques not presented to the bank has been treated incorrectly. Which cheque is it and explain your choice? Indicate the correct course of action to be taken in February. Indicate the correct course of action. 3 1.3 Calculate the correct totals in the CRJ and CPJ for 28 February 2014. CRJ CPJ 146 970 68900 6 Copyright Reserved Please Turn Over ### Page 3 Downloaded from hlayiso.com Accounting 3 June 2014 Common Test NSC – Answer Booklet 1.4 BANK RECONCILIATION STATEMENT AS AT 28 FEBRUARY 2014 DEBIT CREDIT 7 1.5 Explain how cheque No. 908 should be treated when preparing the financial statements as at 28 February 2014, and explain the reason for this treatment. Treatment of cheque No. 908 in the financial statements: Reason for this treatment: 4 1.6 Explain why a post-dated cheque received by Belino Traders on 10 February 2014 but dated 25 March 2014 does not appear in the Bank Reconciliation Statement. 2 Copyright Reserved Please Turn Over ### Page 4 Downloaded from hlayiso.com Accounting 4 June 2014 Common Test NSC – Answer Booklet 1.7 Refer to information G. The bookkeeper has decided to write off the amount of R50 000. Which GAAP principle will the bookkeeper apply in this case? Briefly explain this principle. The bookkeeper wants to prevent a problem such as this in future. Give TWO solutions to improve internal control in this regard. Which GAAP principle will the bookkeeper apply in this case? The bookkeeper wants to prevent a problem such as this in future. Give TWO solutions to improve internal control in this regard. 3 Copyright Reserved Please Turn Over ### Page 5 Downloaded from hlayiso.com Accounting 5 June 2014 Common Test NSC – Answer Booklet QUESTION 2 2.1 Tangible asset/fixed asset note. LAND AND TANGIBLE ASSETS VEHICLES EQUIPMENT BUIDINGS Carrying value at beginning of the year 1 900 000 Cost 1 900 000 Accumulated depreciation - Movements Additions 0 Disposal 0 Depreciation - Carrying value at the end of year 1 900 000 Cost 1 900 000 Accumulated depreciation - 17 Copyright Reserved Please Turn Over ### Page 6 Downloaded from hlayiso.com Accounting 6 June 2014 Common Test NSC – Answer Booklet 2.2 Ordinary share capital note Authorised: Number of authorized ordinary shares: 800 000 shares ISSUED: 4 2.3 Retained income Balance at the beginning of the financial year 15 Copyright Reserved Please Turn Over ### Page 7 Downloaded from hlayiso.com Accounting 7 June 2014 Common Test NSC – Answer Booklet 2.4 Durban LIMITED BALANCE SHEET AS AT 28 FEBRUARY 2014 ASSETS NON-CURRENT ASSETS CURRENT ASSETS TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS’ EQUITY NON-CURRENT LIABILITIES CURRENT LIABILITIES TOTAL EQUITY AND LIABILITIES 38 Copyright Reserved Please Turn Over ### Page 8 Downloaded from hlayiso.com Accounting 8 June 2014 Common Test NSC – Answer Booklet QUESTION 3 3.1 3.1.1 Calculate the value of the closing stock for the following stock items. Show all workings. 3.1.2 Bicycles (use the Specific Identification method) 10 3.2 Calculate cost of sales for: Grocery 11 Copyright Reserved Please Turn Over ### Page 9 Downloaded from hlayiso.com Accounting 9 June 2014 Common Test NSC – Answer Booklet 3.3 As internal auditor, what would you say to the owner and accountant? State TWO points. 4 3.4 What advice would you offer to the owner in this regard? 3 Copyright Reserved Please Turn Over ### Page 10 Downloaded from hlayiso.com Accounting 10 June 2014 Common Test NSC – Answer Booklet QUESTION 4 4.1 Asset disposal account Feb Feb 2014 28 2014 28 10 Copyright Reserved Please Turn Over ### Page 11 Downloaded from hlayiso.com Accounting 11 June 2014 Common Test NSC – Answer Booklet 4.2 ZOLA LIMITED: INCOME STATEMENT FOR THE YEAR ENDED 30 APRIL 2014 42 Copyright Reserved Please Turn Over ### Page 12 Downloaded from hlayiso.com Accounting 12 June 2014 Common Test NSC – Answer Booklet 4.3 4.3.1 TRADE AND OTHER RECEIVABLES Net Trade Debtors 11 Copyright Reserved Please Turn Over ### Page 13 Downloaded from hlayiso.com Accounting 13 June 2014 Common Test NSC – Answer Booklet QUESTION 5 5.1 5.1.1 Explain ONE method that Mandla Mbambo could have used to collect audit evidence. 2 5.1.2 Calculate the new outstanding balance of Khethiwe Mdluli after taking into account errors and omissions. Use information 5. 7 5.1.3 Calculate the amount of discount that Mduduzi Hlatshwayo received when he settled his account. 3 Copyright Reserved Please Turn Over ### Page 14 Downloaded from hlayiso.com Accounting 14 June 2014 Common Test NSC – Answer Booklet 5.1.4 DEBTORS AGE ANALYSIS OF FIVE WAYS PHARMACY 90 Days + 60 Days 30 Days Current Nonjabulo Mgabhi - 3 5.1.5 A business can take legal action if debtors are not paying their accounts, but this would cost money. What THREE strategies should Mandla Mbambo consider before deciding whether to take legal action or write off the bad debts. 3 5.1.6 Five Ways Pharmacy is obviously having a problem controlling its debtors, Mandla Mbambo has been brought in to try and rectify the situation which he claimed he did very well. Do you agree with his statement? Give TWO opinions to support your answer. 5 Copyright Reserved Please Turn Over ### Page 15 Downloaded from hlayiso.com Accounting 15 June 2014 Common Test NSC – Answer Booklet 5.2 Use the table to indicate the differences that were discovered when comparing the account in the Creditors Ledger with the statement received from Zulu Suppliers. Write only the amount in the appropriate column and a plus (+) or minus (-) sign to indicate an increase or decrease in the balance. Calculate the correct balance/total at the end. Creditors ledger of Statement from Zwane Traders Zulu Suppliers Balance R 7 750 R 11 000 1. 2. 3. 4. 5. Balance/Total 11 Copyright Reserved Please Turn Over ### Page 16 Downloaded from hlayiso.com Accounting 16 June 2014 Common Test NSC – Answer Booklet QUESTION 6 6.1 State where the following statements are TRUE or FALSE. 6.1.1 6.1.2 6.1.3 6.1.4 6.1.5 5 6.2 6.2.1 Cash generated from operations for the year ended on 28 February 2014 8 Copyright Reserved Please Turn Over ### Page 17 Downloaded from hlayiso.com Accounting 17 June 2014 Common Test NSC – Answer Booklet 6.2.2 Cash flow statement for the year ended 28 February 2014 Cash flow from operating activities Dividends paid (300 000) Cash flow from investing activities Proceeds on sale of non-current assets 1 100 000 Cash flow from financing activities 20 Copyright Reserved Please Turn Over ### Page 18 Downloaded from hlayiso.com Accounting 18 June 2014 Common Test NSC – Answer Booklet 6.2.3 6.2.3.1 Debt/equity ratio 3 6.2.3.2 % return on average shareholders’ equity (after tax) 5 6.2.3.3 % return on total capital employed 6 Copyright Reserved Please Turn Over ### Page 19 Downloaded from hlayiso.com Accounting 19 June 2014 Common Test NSC – Answer Booklet 6.3 6.3.1 Comment on the price at which the new shares were issued for both companies. Will the directors and the shareholders be satisfied with this? Explain, quoting relevant figures from the question in each company. Mkhabela LTD Opinion: Nyembe LTD Opinion: 10 Copyright Reserved Please Turn Over ### Page 20 Downloaded from hlayiso.com Accounting 20 June 2014 Common Test NSC – Answer Booklet 6.3.2 Consider the use of loans by the two companies: Which company is making more use of loan? Quote a financial indicator for each company. Explain whether or not it was a good idea for that company to make use of loans. Quote ONE financial indicator. 6 6.3.3 Mr Mathebula is of the option that the directors of Nyembe are generally happy with handling of its working capital more effectively and in a better liquidity situation than Mkhabela LTD. Explain and quote THREE financial indicators to support his opinion. 9 TOTAL: 300 Copyright Reserved Please Turn Over ### Page 21 Downloaded from hlayiso.com ### Page 22 Downloaded from hlayiso.com ### Page 23 Downloaded from hlayiso.com ### Page 24 Downloaded from hlayiso.com ## Related documents - [Accounting Nov 2014 Answer Book Afr](https://www.hlayiso.com/library/accounting-nov-2014-answer-book-afr/2ee1a360-1246-4e7c-8ba2-c5b341079807) — Accounting · Addendum · 2014 · Afr - [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 - [ACCOUNTING P1 GR12 ANSWERBOOK JUNE 2022 English](https://www.hlayiso.com/library/accounting-p1-gr12-answerbook-june-2022-english/3f567dee-27d7-45f0-b356-dc5d1a094a3a) — Accounting · Addendum · 2022 · Eng - [ACCOUNTING P2 GR12 ANSWERBOOK JUNE 2022 Afrikaans Finaal](https://www.hlayiso.com/library/accounting-p2-gr12-answerbook-june-2022-afrikaans-finaal/67317f0a-c6c2-47b6-bae2-7d594500c14b) — Accounting · Addendum · 2022 · Afr - [Accounting Feb-March 2014 Eng](https://www.hlayiso.com/library/accounting-feb-march-2014-eng/4ff45f75-aaa3-47fc-9a91-1b59a042682b) — Accounting · QP · 2014 · 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 ## 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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