# Accounting Grade 12 P1 EC June 2021 Question Paper (English) > Grade 12 Accounting Paper 1 question paper from the EC June 2021 (English), 10 pages. Read online or get the free PDF download, memo linked when available. - Page: https://www.hlayiso.com/library/accounting-p1-ab-june-2021-english/70a47841-25cc-49e2-95cf-b3ae2a2c47bb - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Question paper - Year: 2021 - Exam period: EC June - 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 P1 EC June 2021 Question Paper (English)](https://www.hlayiso.com/library/accounting-p1-ab-june-2021-english/70a47841-25cc-49e2-95cf-b3ae2a2c47bb) ## About this document Accounting · Grade 12 · EC June · 2021 · English. Question paper, 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: NATIONAL SENIOR CERTIFICATE GRADE 12 JUNE 2021 ACCOUNTING P1 ANSWER BOOK (EXEMPLAR) TOTAL MARK MODERATED MODERATOR QUESTION MARKS OBTAINED MARK INITIAL 1 25 2 55 3 50 4 20 TOTAL 150 This answer book consists of 10 pages. *JACABE1* ### Page 2 Downloaded from hlayiso.com 2 ACCOUNTING P1 (EC/JUNE 2021) QUESTION 1: CONCEPTS, ANALYSIS OF TRANSACTIONS AND AUDIT REPORT 1.1 CONCEPTS 1.1 1.1.1 1.1.2 1.1.3 3 1.2 ANALYSIS OF TRANSACTIONS ACCOUNT TO ACCOUNT TO AMOUNT A O L BE DEBITED BE CREDITED 1.2.1 330 000 1.2.2 15 000 11 1.3 AUDIT REPORT 1.3.1 Explain why the auditors found it necessary to stipulate the page numbers in the report. 2 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com (EC/JUNE 2021) ACCOUNTING P1 3 1.3.2 What type of report did Zenko Ltd receive from the independent auditors? Explain your answer. Type of report: Explanation: 3 1.3.3 State TWO possible consequences for the independent auditor if he had NOT mentioned the donation in his report. 2 1.3.4 Explain why the company would make contributions towards outreach programmes in the local community. Mention TWO points. 4 TOTAL MARKS 25 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com 4 ACCOUNTING P1 (EC/JUNE 2021) QUESTION 2: BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AND NOTES MAKIZOLE LIMITED 2.1 Complete the following notes for the financial year ended 29 February 2020. (a) ORDINARY SHARE CAPITAL AUTHORISED: 1 400 000 shares ISSUED 650 000 Shares in issue on 1 March 2019 250 000 Shares issued during the year 1 300 000 Shares in issue at 29 February 2020 8 (b) RETAINED INCOME Balance at the beginning of the year 745 000 Dividends on ordinary shares Balance at the end of the year 12 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com (EC/JUNE 2021) ACCOUNTING P1 5 2.2 BALANCE SHEET ON 29 FEBRUARY 2020 ASSETS NON-CURRENT ASSETS Fixed assets  CURRENT ASSETS TOTAL ASSETS  EQUITY AND LIABILITIES  ORDINARY SHAREHOLDERS’ EQUITY Ordinary share capital Retained income  NON-CURRENT LIABILITIES  Loan: Capital Bank   CURRENT LIABILITIES Trade and other payables Current portion of loan 100 680 TOTAL EQUITY AND LIABILITIES 35 TOTAL MARKS 55 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com 6 ACCOUNTING P1 (EC/JUNE 2021) QUESTION 3: CASH FLOW STATEMENT, FINANCIAL INDICATORS AND INTERPRETATION 3.1 3.1.1 3.1.2 3.1.3 3 3.2 CACADU LTD 3.2.1 Calculate the following amounts for the Cash Flow Statement: Operating profit before changes in working capital Workings Answer 6 Income tax paid Workings Answer 5 Dividends paid Workings Answer 4 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com (EC/JUNE 2021) ACCOUNTING P1 7 3.2.2 Complete the following sections of the Cash Flow Statement: CASH EFFECTS FROM INVESTING ACTIVITIES 7 CASH EFFECTS FROM FINANCING ACTIVITIES Proceeds from the issue of shares 2 984 800 4 NET CHANGE IN CASH AND CASH EQUIVALENTS (88 200) Cash and cash equivalents (end of year) 241 250 2 3.2.3 Calculate the following financial indicators on 30 June 2019: % Operating expenses on sales Workings Answer 4 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com 8 ACCOUNTING P1 (EC/JUNE 2021) % Return on average shareholders’ equity (ROSHE) Workings Answer 5 3.2.4 Quote TWO financial indicators with figures and trends which should be a concern to the company’s liquidity. 4 3.2.5 Comment on the degree of financial risk and gearing of the company. Quote TWO financial indicators with figures and trends to support your answer. 6 TOTAL MARKS 55 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com (EC/JUNE 2021) ACCOUNTING P1 9 QUESTION 4: ANALYSIS AND INTERPRETATION OF TWO COMPANIES 4.1 Calculate the number of shares that Alton can buy in Lion Ltd. Workings Answer 2 4.2 Alton is more interested in purchasing the additional shares in Lion Ltd. Provide TWO reasons why he feels this way. Make reference to a comparison between both companies in your answer. REASON FIGURES (with comparison) 6 4.3 Alton is happy with the DPS at Lion Ltd. Provide ONE reason why. REASON FIGURE 3 Provide ONE reason for the dividend policy at Bull Ltd. REASON FIGURE 3 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com 10 ACCOUNTING P1 (EC/JUNE 2021) 4.4 Comment on the return on investment of both companies. Provide ONE separate point for each company. COMMENT for each company FIGURES (with comparisons) Lion Ltd . Bull Ltd 6 TOTAL MARKS 20 TOTAL: 150 Copyright reserved Please turn over ## Related documents - [ACCOUNTING P1 GR12 QP SEPT 2021 English D REV](https://www.hlayiso.com/library/accounting-p1-gr12-qp-sept-2021-english-d-rev/bd359bc3-aaa6-4466-a680-12cf6f56610f) — Accounting · QP · 2021 · Eng - [Accounting QP June 2019 English Final](https://www.hlayiso.com/library/accounting-qp-june-2019-english-final/4cb2cfcc-1cab-4f96-a727-4ecb0622e193) — Accounting · QP · 2019 · 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 GR12 AB JCT ENG D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-ab-jct-eng-d-watermark/77ae8297-53f7-47b3-8e29-57bd38f30483) — Accounting · Addendum · 2025 · Eng - [Accounting P1 (English) June 2025 Answer Book](https://www.hlayiso.com/library/accounting-p1-english-june-2025-answer-book/7e96e433-56f8-43a1-9a38-c68c465746dd) — Accounting · Addendum · 2025 · 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 P2 (English ) June 2025 Answer Book](https://www.hlayiso.com/library/accounting-p2-english-june-2025-answer-book-1/73bffe7c-1c96-49bd-af78-abb8db8c6618) — Addendum · 2025 · Eng - [Accounting P1 (English) June 2025 Possible Answers](https://www.hlayiso.com/library/accounting-p1-english-june-2025-possible-answers/86671777-58f6-4c82-932c-4924bae022c0) — Memo · 2025 · Eng - [Accounting Grade 12 NSC ANSWER BOOK P2 May June 2025 KZN](https://www.hlayiso.com/library/accounting-grade-12-nsc-answer-book-p2-may-june-2025-kzn/b9529d65-7fc3-420f-8a91-05ec30b0d61b) — Addendum · 2025 - [Accounting Grade 12 NSC MEMO P1 May June 2025 Limpopo](https://www.hlayiso.com/library/accounting-grade-12-nsc-memo-p1-may-june-2025-limpopo/4bc5dfae-35c0-4acd-83c3-4b53266a3680) — Memo · 2025 ## 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. When citing, link the page URL above, not a PDF or /api/ URL.