# Accounting Grade 12 NSC November 2017 Addendum (English) > Grade 12 Accounting addendum from the NSC November Exam 2017 (English), 17 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accounting-nov-2017-answer-book-eng/37bf126f-cc3b-44eb-97ac-8d84a0be3ea0 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2017 - Exam period: NSC November Exam - Curriculum: CAPS - Pages: 17 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 NSC November 2017 Addendum (English)](https://www.hlayiso.com/library/accounting-nov-2017-answer-book-eng/37bf126f-cc3b-44eb-97ac-8d84a0be3ea0) ## About this document Accounting · Grade 12 · NSC November Exam · 2017. Addendum, 17 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 STICKER CENTRE NUMBER EXAMINATION NUMBER NATIONAL SENIOR CERTIFICATE ACCOUNTING GRADE 12 NOVEMBER 2017 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 5 6 TOTAL This answer book consists of 17 pages. Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting 2 DBE/November 2017 NSC – Answer Book QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 3 1.2.1 Calculation of CRJ total Calculation of CPJ total 90 500 85 920 Bank account balance: 14 1.2.2 Bank Reconciliation Statement on 30 June 2017 9 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting 3 DBE/November 2017 NSC – Answer Book 1.2.3 Explain the problem relating to deposits. Quote evidence. Explain TWO strategies to prevent this in future. Strategy 1: Strategy 2: 4 TOTAL MARKS 30 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting 4 DBE/November 2017 NSC – Answer Book QUESTION 2 2.1 GEVEN MANUFACTURERS 2.1.1 PRODUCTION COST STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2017 Direct material cost Direct labour cost Prime cost Factory overhead cost Total cost of production 14 2.1.2 ABRIDGED INCOME STATEMENT FOR YEAR ENDED 28 FEBRUARY 2017 Sales Cost of sales Gross profit Administration cost Selling and distribution cost Net profit 14 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting 5 DBE/November 2017 NSC – Answer Book 2.2 GYMWEAR MANUFACTURERS 2.2.1 Shirts: Calculate the break-even point for shirts. 4 Identify ONE variable cost (with figures) that has not been well controlled. Give TWO possible reasons for this problem. ONE VARIABLE REASONS COST WITH FIGURES Reason 1: Reason 2: 4 Explain why Jan might be concerned about the large decreases in the other TWO variable costs. 4 Jan does not understand why the unit cost of production has increased when neither his fixed costs nor the variable costs have increased. Explain why this is so. State ONE point (with figures). 4 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting 6 DBE/November 2017 NSC – Answer Book 2.2.2 Shoes: Calculate the % increase in the selling price of shoes. 3 Jan decided to improve the quality of the shoes and to export them. Explain how the direct material costs and the selling and distribution costs were affected by this decision. Provide figures. 4 Jan was concerned that the increase in price would have a negative impact on the business. Explain whether his concern was justified. State TWO points. Point 1: Point 2: 4 TOTAL MARKS 55 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting 7 DBE/November 2017 NSC – Answer Book QUESTION 3 3.1 (a) Calculate the carrying value of Land and Buildings on 1 March 2016. 2 (b) Calculate the total depreciation on Vehicles on 28 February 2017. 6 (c) Calculate the carrying value of Vehicles on 28 February 2017. 4 (d) Calculate the carrying value of Equipment sold on 31 December 2016. 6 (e) Calculate the total carrying value of Fixed Assets on 28 February 2017. 4 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting 8 DBE/November 2017 NSC – Answer Book 3.2 BALANCE SHEET OF ODETTE LTD ON 28 FEBRUARY 2017 ASSETS NON-CURRENT ASSETS CURRENT ASSETS Inventory 408 880 Trade and other receivables Cash and cash equivalents TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY Ordinary share capital Retained income 520 000 NON-CURRENT LIABILITIES CURRENT LIABILITIES TOTAL EQUITY AND LIABILITIES 37 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting 9 DBE/November 2017 NSC – Answer Book 3.3 AUDIT REPORT As a shareholder, what concerns would you have regarding this audit report? Explain THREE points. Point 1: Point 2: Point 3: 6 TOTAL MARKS 65 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com Accounting 10 DBE/November 2017 NSC – Answer Book QUESTION 4 4.1 4.1.1 4.1.2 4.1.3 4.1.4 4 4.2 SO-FINE LTD 4.2.1 ORDINARY SHARE CAPITAL AUTHORISED SHARE CAPITAL 1 200 000 ordinary shares ISSUED SHARE CAPITAL 900 000 Ordinary shares on 1 September 2016 Ordinary shares on 31 August 2017 5 292 000 7 RETAINED INCOME Balance on 1 September 2016 147 370 Net profit after income tax 438 130 Ordinary share dividends ` Balance on 31 August 2017 9 Copyright reserved Please turn over ### Page 11 Downloaded from hlayiso.com Accounting 11 DBE/November 2017 NSC – Answer Book 4.2.2 SO-FINE LTD CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2017 CASH FLOWS FROM OPERATING ACTIVITIES Cash generated from operations Interest paid Dividends paid Income tax paid ? CASH FLOWS FROM INVESTING ACTIVITIES Purchases of fixed assets ? ? ? Change in investments CASH FLOWS FROM FINANCING ACTIVITIES ? ? ? ? Change in non-current liabilities Net change in cash and cash equivalents ? Cash and cash equivalents – opening balance ? Cash and cash equivalents – closing balance ? 19 4.2.3 Calculate the percentage operating profit on sales. 3 Calculate the debt-equity ratio. 4 4.2.4 Calculate the dividends per share (DPS) of a shareholder who owned the same number of shares for the entire financial period. 4 Copyright reserved Please turn over ### Page 12 Downloaded from hlayiso.com Accounting 12 DBE/November 2017 NSC – Answer Book 4.3 CASTRO LTD 4.3.1 Comment on the price of R9,10 charged by Castro Ltd for the new shares issued. 3 4.3.2 Explain how the issue of new shares has affected the financial gearing and risk of Castro Ltd. Quote TWO financial indicators. 6 4.3.3 If Henry wanted to retain his 60% shareholding in the company, how many shares would he have had to buy? 3 How much would he have had to pay? 2 Henry decided NOT to buy these shares. Apart from the % shareholding, explain TWO reasons why he has made a mistake by not taking up this option. Reason 1: Reason 2: 6 Copyright reserved Please turn over ### Page 13 Downloaded from hlayiso.com Accounting 13 DBE/November 2017 NSC – Answer Book RONKI LTD 4.3.4 Comment on the liquidity of Ronki Ltd. Quote TWO financial indicators. 6 4.3.5 Comment on the price paid by Ronki Ltd for the repurchase (buy-back) of shares. 3 4.3.6 Explain THREE ways in which Henry has benefited from the repurchase of the shares by Ronki Ltd. Point 1: Point 2: Point 3: 6 TOTAL MARKS 85 Copyright reserved Please turn over ### Page 14 Downloaded from hlayiso.com Accounting 14 DBE/November 2017 NSC – Answer Book QUESTION 5 5.1 CONCEPTS 5.1.1 5.1.2 5.1.3 5.1.4 4 5.2 HOT-WHEELS (PTY) LTD Motorbikes: 5.2.1 Calculate the value of the closing stock on 30 September 2017 using the specific identification method. 7 5.2.2 Mike requires your advice on the three different models of motorbikes in which he is trading. Explain TWO points of advice. Point 1: Point 2: 4 Copyright reserved Please turn over ### Page 15 Downloaded from hlayiso.com Accounting 15 DBE/November 2017 NSC – Answer Book Helmets: 5.2.3 Calculate the value of the closing stock on 30 September 2017 using the weighted-average method. 9 5.2.4 Is the weighted-average method appropriate to value the helmets? Explain ONE point. 3 5.2.5 Mike suspects that helmets are being stolen from the shop despite security cameras being installed. Provide a calculation to verify his suspicion. 5 What can Mike do to improve the internal control of stock? State THREE points. Point 1: Point 2: Point 3: 3 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 16 Downloaded from hlayiso.com Accounting 16 DBE/November 2017 NSC – Answer Book QUESTION 6 6.1 Explain the main purpose of a Cash Budget. Explain the main purpose of a Projected Income Statement. 2 6.2.1 Larry expects debtors to settle accounts by the end of the month following the sales transaction month. Use the November figures to calculate the % of debtors that are expected to comply with the credit terms. Use the November figures to calculate the % of bad debts expected. 9 6.2.2 Larry does not believe that his debtors' control clerk, Shirley, deserves a bonus on 31 October 2017. Provide evidence to support his opinion. Offer Larry advice to improve debtors' collections (TWO points). Point 1: Point 2: 4 Copyright reserved Please turn over ### Page 17 Downloaded from hlayiso.com Accounting 17 DBE/November 2017 NSC – Answer Book 6.3.1 Calculate the fixed % of sales used by Larry to budget for delivery expenses. Calculate the amount of the loan to be repaid on 31 December 2017. 6 6.3.2 Refer to variances in Information D. Explain why Larry would feel that all these variances are problems for his business. COMMENT ON VARIANCES Sales Advertising Packing materials Delivery expenses 9 TOTAL MARKS 30 TOTAL: 300 Copyright reserved ## Related documents - [Accounting Nov 2017 Answer Book Afr](https://www.hlayiso.com/library/accounting-nov-2017-answer-book-afr/577edd99-2c35-47d2-a46e-d92c45148ccb) — Accounting · Addendum · 2017 · Afr - [Accounting Nov 2017 Eng](https://www.hlayiso.com/library/accounting-nov-2017-eng/8b621382-03b3-4de1-b85b-4b5cfd60b6f2) — Accounting · QP · 2017 · Eng - [Accounting May June 2017 Answer Book Eng](https://www.hlayiso.com/library/accounting-may-june-2017-answer-book-eng/80214f65-7758-4efc-a0bf-bfb782a0fb3d) — Accounting · Addendum · 2017 · Eng - [Accounting Feb March 2017 Answer Book Afr](https://www.hlayiso.com/library/accounting-feb-march-2017-answer-book-afr/50fb6ae0-8ade-4ce1-a2d1-9e6826c6adbf) — Accounting · Addendum · 2017 · Afr - [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 Nov 2021 Answer Book Afr](https://www.hlayiso.com/library/accounting-p1-nov-2021-answer-book-afr/4f3e9f53-936c-4ad6-b22c-aebca5401cfe) — Accounting · Addendum · 2021 · Afr ## 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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