Accounting Grade 12 NSC June 2012 Addendum (English)

__ Downloaded from hlayiso.com __ basic education Department: Basic Education REPUBLIC OF SOUTH AFRICA SENIOR CERTIFICATE EXAMINATION CENTRE NUMBER EXAMINATION NUMBER ACCOUNTING HIGHER GRADE 2012 ANSWER BOOK QUESTION MARKS INITIAL This answer book consists of 18 pages. GAUTENG Please tum over | Copyright reserved

Downloaded from hlayiso.com Accounting/HG 2 DBE/2012 SCE — Answer Book QUESTION 1 1.1 CAPITAL M MABOTE M MANGOJANE TOTAL 10 1.2 CURRENT ACCOUNTS M MABOTE M MANGOJANE TOTAL Salaries Interest on capital 25 Cony reserved NAN Please turn over

Downloaded from hlayiso.com Accounting/HG 3 DBE/2012 SCE — Answer Book 1.3 NOTE FOR FIXED ASSETS Land and Buildings Equipment Vehicles Carrying value at beginning of year Cost 204 560 268 000 227 600 Accumulated depreciation (0) (125 680) (63 060) Movements Additions Disposals _ Depreciation Carrying value at the end of the year Cost ] Accumulated depreciation 25 TOTAL MARKS a TT ae

Downloaded from hlayiso.com Accounting/HG 4 DBE/2012 SCE — Answer Book QUESTION 2 2.1 Refer to the details and figures in the accounts. Provide the missing details/figures labelled [A] to [M]. A H B I c J D K E L F M G 25 2.2 There are differences between the periodic and perpetual inventory systems. Briefly explain ONE difference between these systems. Explain how a business would decide which system to use. Copies JANILIUV AAV NALIN === 3861

Downloaded from hlayiso.com Accounting/HG 5 DBE/2012 SCE — Answer Book QUESTION 3 3.1 CASH RECEIPTS JOURNAL OF MASOKE TRADERS FOR APRIL 2012 CRJ4 DOC | pay DETAILS SUNDRY | FOL. DETAILS NO. aes ACCOUNTS 30 | Total 33 433 33 433 19 CASH PAYMENTS JOURNAL OF MASOKE TRADERS FOR APRIL 2012 cPJ4 DOC | pay DETAILS BANK SUNDRY | FOL. DETAILS NO. ACCOUNTS 30 | Total 31 313 31 313 16 Comrieeoned NAN 4 Please turn over

Downloaded from hlayiso.com Accounting/HG 6 DBE/2012 SCE — Answer Book 3.2 GENERAL LEDGER OF MASOKE TRADERS Dr BANK Cr 6 3.3 BANK RECONCILIATION STATEMENT OF MASOKE TRADERS ON 30 APRIL 2012 14 TOTAL MARKS 55 corn rose TCT ea

Downloaded from hlayiso.com Accounting/HG 7 DBE/2012 SCE — Answer Book QUESTION 4 4.1 GENERAL LEDGER OF DOME CYCLING CLUB Dr MEMBERSHIPS FEES ACCOUNT Cr 2010 2010 Sept. | 1 Sept. | 1 17 Copyright reserved Please turn over GAUTENG

Downloaded from hlayiso.com Accounting/HG 8 DBE/2012 SCE — Answer Book 4.2 DOME CYCLING CLUB STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 AUGUST 2011 INCOME EXPENDITURE Surplus/Deficit before interest Interest income Interest expense Surplus/Deficit for the year 43 TOTAL MARKS 60 SSS | Conrihtesoved LNA AMUN, =e ovr

Downloaded from hlayiso.com Accounting/HG 9 DBE/2012 SCE — Answer Book QUESTION 5 5.1.1 RECONCILIATION BETWEEN PROFIT BEFORE TAXATION AND CASH GENERATED BY OPERATIONS Profit before taxation Depreciation Interest paid Operating profit Changing in working capital Cash generated 14 5.1.2 DIVIDENDS PAID 7 5.1.3 INCOME TAX PAID 7 ae TT GAUTENG

Downloaded from hlayiso.com Accounting/HG 10 DBE/2012 SCE — Answer Book 5.2 CALCULATE THE NUMBER OF ORDINARY SHARES THAT WERE ISSUED ON 1 MARCH 2011. 4 5.3. COMMENT ON THE FOLLOWING RATIOS: Current ratio Acid-test ratio 6 5.4 CALCULATE THE DEBT TO EQUITY RATIO FOR 2012. Long-term loan: Shareholders' equity 5 Conrihtesoned JANATA AMUN] ees ovr

Downloaded from hlayiso.com Accounting/HG 11 DBE/2012 SCE - Answer Book 5.5 CALCULATE THE CREDITORS' PAYMENT PERIOD (IN MONTHS) FOR THE 2012 FINANCIAL YEAR Average creditors x 12 Cost of sales 1 5 5.6 CALCULATE THE NUMBER OF DAYS THE COMPANY HAD TO WAIT IN 2012 BEFORE DEBTORS SETTLED THEIR DEBTS. Average debtors x 366 Credit sales 1 5 5.7 STATE TWO WAYS IN WHICH MANAGEMENT COULD ENCOURAGE DEBTORS TO PAY THEIR DEBTS EARLIER. 4 Coorg econed LINEAL KIN oer

Downloaded from hlayiso.com Accounting/HG 12 DBE/2012 SCE - Answer Book 5.8 CALCULATE THE NET ASSET VALUE PER SHARE FOR 2012. Shareholders’ equity Number of shares issued 5 5.9 CALCULATE THE RETURN ON AVERAGE SHAREHOLDERS' EQUITY FOR 2012. Net income after tax Average shareholders' equity | 4 5.10 DO YOU THINK THAT THE AVERAGE SHAREHOLDERS’ EQUITY CALCULATED IN QUESTION 5.9 IS ACCEPTABLE? GIVE A BRIEF EXPLANATION FOR YOUR ANSWER. TOTAL MARKS Conrihtesoned LNAI ANAM === 350 tmer

Downloaded from hlayiso.com Accounting/HG 13 DBE/2012 SCE — Answer Book QUESTION 6 6.1.1 GENERAL LEDGER OF RAMROOS CC Dr MEMBERS' CONTRIBUTIONS Cr 9 6.1.2 Dr RETAINED INCOME/ACCUMULATED PROFITS Cr 5 Copyright reserved GAUTENG Please turn over

Downloaded from hlayiso.com Accounting/HG 14 DBE/2012 SCE — Answer Book 6.1.3 GENERAL LEDGER OF RAMROOS CC Dr DISTRIBUTION PAYABLE TO MEMBERS Cr 8 6.1.4 Dr SARS — INCOME TAX Cr 9 6.1.5 Dr APPROPRIATION ACCOUNT Cr 10 Copyright reserved Please turn over GAUTENG

Downloaded from hlayiso.com Accounting/HG 15 DBE/2012 SCE — Answer Book 6.2 RAMROOS CLOSE CORPORATION BALANCE SHEET ON 29 FEBRUARY 2012 MEMBERS’ EQUITY NON-CURRENT LIABILITIES Loan from East Bank Loans from members TOTAL MARKS Copyrgnt reserved ETO AAO AE A A ieuiaiel

Downloaded from hlayiso.com Accounting/HG 16 DBE/2012 SCE — Answer Book QUESTION 7 7.1 7.1.1. DEBTORS' COLLECTION SCHEDULE FOR MAY AND JUNE 2012 MAY JUNE R R March 4320 0 April 25 200 May June Copyright reserved GAUTENG 10 Please turn over

Downloaded from hlayiso.com Accounting/HG 17 DBE/2012 SCE — Answer Book 7.1.2 CASH BUDGET FOR MAY AND JUNE 2012 MAY JUNE CASH RECEIPTS Cash sales Collections from debtors CASH PAYMENTS Payment to creditors Surplus/Shortfall Balance of bank at the beginning of the month Balance of bank at the end of the month 50 Ta ITLL 0000

Downloaded from hlayiso.com Accounting/HG 7.2 18 SCE — Answer Book DBE/2012 Study this extract and for each item give Thabo Mkhize an OBSERVATION (what you notice) and a RECOMMENDATION (advise what to do). Comment Advice Repairs and maintenance Telephone Rent income Advertising Sales TOTAL MARKS 15 Copynant reserved FOIA AUT TA