# Accounting Grade 12 P1 Eastern Cape Mock 2022 QP (Eng) > Grade 12 Accounting Paper 1 question paper from the Eastern Cape Mock Exam 2022 (English), 11 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/accounting-p1-gr12-ab-sept-english/ea37d229-6066-4519-9492-1cd6034b09c0 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Question paper - Year: 2022 - Exam period: Eastern Cape Mock Exam - Paper: 1 - Curriculum: CAPS - Pages: 11 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 Mock 2022 QP (Eng)](https://www.hlayiso.com/library/accounting-p1-gr12-ab-sept-english/ea37d229-6066-4519-9492-1cd6034b09c0) ## About this document Accounting · Grade 12 · Eastern Cape Mock Exam · 2022 · English. Question paper, 11 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 Name: NATIONAL SENIOR CERTIFICATE GRADE 12 SEPTEMBER 2022 ACCOUNTING P1 ANSWER BOOK MARKS MODERATED QUESTION MAX. MARKS OBTAINED MARKS 1 60 2 40 3 35 4 15 150 This answer book consists of 11 pages. ### Page 2 2 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2022) QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 1.1.4 4 1.2.1 Calculate the following: WORKINGS ANSWER Closing stock: 4 Missing stock: 2 1.2.2 Calculate the correct net profit after tax for the year ended 30 June 2022. Indicate ‘+’ for increase and ‘–’ for decrease at each adjusted amount. NO. WORKINGS ANSWER Incorrect net profit before tax 3 199 890 (i) Stock loss (ii) Provision for bad debts-adjustment (iii) Directors fees Rent income Advertising (iv) Interest expense Income tax Net profit after tax 17 Copyright reserved Please turn over ### Page 3 (EC/SEPTEMBER 2022) ACCOUNTING P1 (ANSWER BOOK) 3 1.2.3 STATEMENT OF FINANCIAL POSITION FOR ON 30 JUNE 2022 ASSETS NON-CURRENT ASSETS Fixed assets Financial assets 200 000 CURRENT ASSETS Inventories Trade and other receivables Cash and cash equivalents TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY Ordinary share capital 3 948 000 NON-CURRENT LIABILITIES CURRENT LIABILITIES Trade and other payables Current portion of loan 185 000 TOTAL EQUITY AND LIABILITIES 33 TOTAL MARKS 60 Copyright reserved Please turn over ### Page 4 4 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2022) QUESTION 2 2.1 Calculate the following financial indicators on 28 February 2022: 2.1.1 Acid-test ratio WORKINGS ANSWER 4 2.1.2 % Return on average capital employed WORKINGS ANSWER 5 2.1.3 Dividend per share (DPS) WORKINGS ANSWER 4 2.2 Ordinary Share Capital Note 1 700 000 Shares in issue on 1 March 2021 5 100 000 (150 000) 1 950 000 Balance on 28 February 2022 6 240 000 3 Copyright reserved Please turn over ### Page 5 (EC/SEPTEMBER 2022) ACCOUNTING P1 (ANSWER BOOK) 5 2.3 Calculate the following: 2.3.1 Change in receivables (indicate if it is an inflow or outflow of cash) WORKINGS ANSWER 5 2.3.2 Income tax paid WORKINGS ANSWER 5 2.3.3 Fixed assets purchased WORKINGS ANSWER 4 Copyright reserved Please turn over ### Page 6 6 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2022) 2.4 Complete the following sections of the Cash Flow Statement. 2.4.1 CASH EFFECTS OF FINANCING ACTIVITIES 7 2.4.2 NET CHANGE IN CASH AND CASH EQUIVALENTS Cash (opening balance) 61 200 Cash (closing balance) 3 TOTAL MARKS 40 Copyright reserved Please turn over ### Page 7 (EC/SEPTEMBER 2022) ACCOUNTING P1 (ANSWER BOOK) 7 QUESTION 3 3.1 Profitability: Identify the company with the better profitability financial indicators. Quote TWO financial indicators. 3 3.2 Liquidity: 3.2.1 Explain which company’s liquidity position will make shareholders happy. Quote TWO financial indicators in your explanation. 6 3.2.2 Explain TWO points on how the other company can improve their liquidity position. Make reference to a specific financial indicator. 4 Copyright reserved Please turn over ### Page 8 8 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2022) 3.3 Comment on the change in the dividend pay-out-policy of EACH company. Quote figures. In each case, provide a possible reason why each company has decided on a change of policy. Comment Explanation Dally Ltd Nana Ltd 6 3.4 Risk and Gearing: Comment on how each company is managing their risk and gearing. Quote TWO financial indicators in your explanation. Dally Ltd: Nana Ltd: 8 Copyright reserved Please turn over ### Page 9 (EC/SEPTEMBER 2022) ACCOUNTING P1 (ANSWER BOOK) 9 3.5 Percentage shareholding and share price: 3.5.1 Comment on the price paid for the repurchase of shares by Dally Ltd. Provide TWO points. Quote figures. 4 3.5.2 Explain the effect of the share repurchase on the % shareholding of the Bravo family in EACH company. Provide a calculation to support your explanation. Dally Ltd: Nana Ltd: 4 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 10 10 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2022) QUESTION 4 4.1.1 Identify the type of report issued by the auditor. Provide ONE reason for your answer. TYPE: REASON: 3 4.1.2 Explain the impact of such a report on the image of the company. State ONE point. 2 4.2.1 Explain why it is unethical for the CEO to accept this offer. State TWO points. 4 4.2.2 Mention possible implications for the CEO should he accept this offer. Explain TWO points. 4 Copyright reserved Please turn over ### Page 11 (EC/SEPTEMBER 2022) ACCOUNTING P1 (ANSWER BOOK) 11 4.2.3 Suggest TWO ways in which corporate social responsibility can be achieved through good corporate governance. 2 TOTAL MARKS 15 TOTAL MARKS: 150 Copyright reserved Please turn over ## Related documents - [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 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 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 QP GR12 SEPT 2023 English](https://www.hlayiso.com/library/accounting-p2-qp-gr12-sept-2023-english/eb464289-6949-44e1-9c80-4e527d6a3926) — Accounting · QP · 2023 · Eng - [ACCOUNTING P2 GR12 QP SEPT2020 English](https://www.hlayiso.com/library/accounting-p2-gr12-qp-sept2020-english/f03e0db8-e54a-430c-a3c1-424aaa129fde) — Accounting · QP · 2020 · 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 ## More from Grade 12 Accounting - [Accounting](https://www.hlayiso.com/library/accounting/8f42a6a4-9593-4d36-86b1-d890dd1bb1bf) — Guide - [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) — Addendum · 2025 · Eng - [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 (English) June 2025 Answer Book](https://www.hlayiso.com/library/accounting-p1-english-june-2025-answer-book/7e96e433-56f8-43a1-9a38-c68c465746dd) — Addendum · 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 ## 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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