# Accounting Grade 12 P1 Eastern Cape June 2024 Addendum (Eng) > Grade 12 Accounting Paper 1 addendum from the Eastern Cape June Exam 2024 (English), 10 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accounting-p1-answer-book-gr12-june-2024-english/1c469f73-f630-4a5b-b586-c3d7502b80d7 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Addendum - Year: 2024 - Exam period: Eastern Cape June Exam - 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 Eastern Cape June 2024 Addendum (Eng)](https://www.hlayiso.com/library/accounting-p1-answer-book-gr12-june-2024-english/1c469f73-f630-4a5b-b586-c3d7502b80d7) ## About this document Accounting · Grade 12 · Eastern Cape June Exam · 2024 · English. Addendum, 10 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Matching paper and memo - [ACCOUNTING P1 QP GR12 JUNE 2024 English](https://www.hlayiso.com/library/accounting-p1-qp-gr12-june-2024-english/11d1ced2-c8c5-4ce3-97cc-34b06c5cad08) — QP · 2024 · Eng ## 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 2024 ACCOUNTING P1 ANSWER BOOK MAX. MARKS MODERATED MARKS QUESTION MARKS OBTAINED School District Province 1 50 2 45 3 40 4 15 150 This answer book consists of 10 pages. Hosted by www.ecexams.co.za ### Page 2 Downloaded from hlayiso.com 2 ACCOUNTING P1 (ANSWER BOOK) (EC/JUNE 2024) QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 1.1.4 4 1.2.1 Calculate: The value of closing stock WORKINGS ANSWER 3 1.2.2 Calculate the correct net profit after tax for the year ended 29 February 2024. Indicate ‘+’ for increase and ‘–’ for decrease at each adjusted amount. No. WORKINGS ANSWER Incorrect Net Profit before tax 3 609 320 Income tax Correct Net Profit after tax 14 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com (EC/JUNE 2024) ACCOUNTING P1 (ANSWER BOOK) 3 1.2.3 LIYABONA LTD STATEMENT OF FINANCIAL POSITION ON 29 FEBRUARY 2024 ASSETS NON-CURRENT ASSETS Fixed assets Financial assets CURRENT ASSETS Inventories (1 350 000 Trade and other receivables (889 500 Cash and cash equivalents (704 249 TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY Ordinary share capital Retained income NON-CURRENT LIABILITIES Loan: Naties Bank CURRENT LIABILITIES Trade and other payables (843 750 TOTAL EQUITY AND LIABILITIES 29 TOTAL MARKS 50 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com 4 ACCOUNTING P1 (ANSWER BOOK) (EC/JUNE 2024) QUESTION 2 2.1 2.1.1 2.1.2 2.1.3 3 2.2 MIMOSOA LTD 2.2.1 Cash Flow Statement for the year ended 30 September 2023 CASH EFFECTS OF OPERATING ACTIVITIES Cash generated from operations 2 229 940 Interest paid (195 750) Taxation paid Dividends paid CASH EFFECTS OF INVESTING ACTIVITIES CASH FLOWS OF FINANCING ACTIVITIES NET CHANGE IN CASH AND CASH EQUIVALENTS Cash (balance at the beginning of the year) Cash (balance at the end of the year) 25 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com (EC/JUNE 2024) ACCOUNTING P1 (ANSWER BOOK) 5 2.2.2 RETAINED INCOME NOTE Balance on 1 October 2022 914 020 Ordinary share dividends Balance on 30 September 2023 8 2.2.3 The directors issued more shares to improve the cash flow. Thandi Manning, a shareholder, was against the decision and has raised her concerns at the AGM. Provide a reason for Thandi’s opinion. 2 2.2.4 Calculate: Debt-equity ratio WORKINGS ANSWER 3 Calculate: Acid test ratio WORKINGS ANSWER 4 TOTAL MARKS 45 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com 6 ACCOUNTING P1 (ANSWER BOOK) (EC/JUNE 2024) QUESTION 3 3.1 Purchase of shares: Explain why directors should be interested in the price of their companies’ shares on the JSE. 2 Calculate the number of additional shares in Mabhabs Ltd that Tiger was able to buy on the JSE in 2023. 3 Comment on the price that Tiger paid for the shares in each company and give TWO reasons why he might have been satisfied to pay the price. 6 3.2 Dividends, earnings and returns: Explain your opinion on which company has the better dividend pay-out policy. Give comparative figures. 6 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com (EC/JUNE 2024) ACCOUNTING P1 (ANSWER BOOK) 7 Compare and comment on the % return on equity earned by each company. 4 Tiger feels that the earnings per share (EPS) of Landa Ltd is much better than that of Mabhabs Ltd. Explain why he feels this way. 5 3.3 Mabhabs Ltd was negatively affected more than Landa Ltd by the poor economy. (a) Explain TWO decisions taken by the directors of Mabhabs Ltd in response to the state of the economy, and how these decisions will affect the company in future. Decision Effect on the company 6 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com 8 ACCOUNTING P1 (ANSWER BOOK) (EC/JUNE 2024) (b) Explain TWO decisions taken by the directors of Landa Ltd that affect risk and gearing. Quote and comment on TWO financial indicators. 8 TOTAL MARKS 40 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com (EC/JUNE 2024) ACCOUNTING P1 (ANSWER BOOK) 9 QUESTION 4 4.1 Provide TWO consequences of neglecting the expectations of the stakeholders by the company. 4 4.2 Choose the audit opinion from COLUMN B that describes the audit report in COLUMN A. Write only the letter (A–C) next to the question numbers (4.2.1–4.2.3) in the ANSWER BOOK. 4.2.1 4.2.2 4.2.3 3 4.3 (a) Which type of audit report will encourage shareholders to buy shares in a company? 1 (b) Explain why it is important for an independent auditor to be a member of a professional body. 1 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com 10 ACCOUNTING P1 (ANSWER BOOK) (EC/JUNE 2024) 4.4 Explain the role of the remunerations committee. Give THREE points. 6 TOTAL MARKS 15 TOTAL: 150 Copyright reserved Please turn over ## Related documents - [ACCOUNTING P1 MEMO GR12 JUNE 2024 English](https://www.hlayiso.com/library/accounting-p1-memo-gr12-june-2024-english/ef245808-e780-418c-ba92-6f41e021a333) — Accounting · Memo · 2024 · Eng - [ACCOUNTING P1 GR12 QP SEPT2024 English](https://www.hlayiso.com/library/accounting-p1-gr12-qp-sept2024-english/815577e2-9528-4d64-854e-0d3f0cc0dd78) — Accounting · QP · 2024 · Eng - [Gr 12 Accounting P1 (English) June 2024 Possible Answers](https://www.hlayiso.com/library/gr-12-accounting-p1-english-june-2024-possible-answers/11d6484c-77b1-4a71-8799-a6e1177c4dbc) — Accounting · Memo · 2024 · Eng - [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) — Accounting · QP · 2025 · 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 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 ## 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 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 (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 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 - [Accounting P1 May-June 2025 MG Eng](https://www.hlayiso.com/library/accounting-p1-may-june-2025-mg-eng/b3a00324-c447-494b-9131-3046982cc2bb) — Memo · 2025 · Eng ## 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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