# Accounting Grade 12 P1 Eastern Cape Mock 2021 QP (Eng) > Grade 12 Accounting Paper 1 question paper from the Eastern Cape Mock Exam 2021 (English), 24 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/accounting-p1-gr12-ansbk-sept-2021-xhosa-eng-d/5f97f152-e8ff-4e6c-b3ac-3a2a6e883d3f - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Question paper - Year: 2021 - Exam period: Eastern Cape Mock Exam - Paper: 1 - Curriculum: CAPS - Pages: 24 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 2021 QP (Eng)](https://www.hlayiso.com/library/accounting-p1-gr12-ansbk-sept-2021-xhosa-eng-d/5f97f152-e8ff-4e6c-b3ac-3a2a6e883d3f) ## About this document Accounting · Grade 12 · Eastern Cape Mock Exam · 2021. Question paper, 24 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 Igama: NATIONAL SENIOR CERTIFICATE GRADE 12 SEPTEMBA 2021 ACCOUNTING P1 INCWADI YOKUPHENDULELA MARKS MODERATED UMBUZO MAX. MARKS OBTAINED MARKS 1 15 2 60 3 40 4 35 150 *AcABXH1* Le ncwadi yokuphendulela inamaphepha ali-9. ### Page 2 Downloaded from hlayiso.com 2 ACCOUNTING P1 (INCWADI YOKUPHENDULELA) (EC/SEPTEMBA 2021) UMBUZO 1 1.1 1.1.1 1.1.2 1.1.3 3 1.2 INGXELO YOPHICOTHO-ZINCWADI (AUDIT REPORT) 1.2.1 Chonga uhlobo lwengxelo kwaye uchaze ukuba kutheni le nto ingxelo ikhutshwe ngumphicothi zincwadi. 2 1.2.2 Chaza amanqaku amaBINI ukuba kutheni abanini zabelo beya kuxhalaba malunga nenkampani efumana ingxelo enjalo. 4 1.2.3 Umphathi omkhulu (CEO) ucele ukuba umphicothi zincwadi awucwangcise lo mnikelo ‘njengeendleko ezininzi’ kwaye ahlengahlengise uluvo lophicotho-zincwadi ngokufanelekileyo. Nika izizathu EZIMBINI zokuba kutheni umphicothi zincwadi engavumelani neli cebiso. 4 Ilungelo loshicilelo likhuselwe Tyhila ### Page 3 Downloaded from hlayiso.com (EC/SEPTEMBA 2021) ACCOUNTING P1 (INCWADI YOKUPHENDULELA) 3 1.2.4 Ngaphandle kwale micimbi ikhankanywe apha ngasentla, cacisa ukuba kutheni le nkampani iza kutyholwa ngolawulo olungeluhle lweshishini. 2 EWONKE 15 Ilungelo loshicilelo likhuselwe Tyhila ### Page 4 Downloaded from hlayiso.com 4 ACCOUNTING P1 (INCWADI YOKUPHENDULELA) (EC/SEPTEMBA 2021) UMBUZO 2 Ingxelo (statement) sengeniso epheleleyo (Comprehensive Income) 2.1 nge 28 February 2021 Intengiso Iindleko zentengiso Gross profit Enye ingeniso Isaphulelo esifunyenweyo 14 000 Gross income Iindleko zokusebenza Ukuhla kwexabiso 86 010 Sundry expenses Inzuzo yokusebenza Ingeniso yenzala 23 400 Profit before interest expense Net profit before income tax Income tax Net profit after tax 689 310 36 Ilungelo loshicilelo likhuselwe Tyhila ### Page 5 Downloaded from hlayiso.com (EC/SEPTEMBA 2021) ACCOUNTING P1 (INCWADI YOKUPHENDULELA) 5 2.2 RETAINED INCOME Ibalans yange 1 March 2020 Inzuzo emva kwe rhafu 689 310 Ordinary share dividends Izabelo zethutyana 126 000 Balans nge 28 February 2021 7 2.3 Icandelo le-EQUITY kunye NAMATYALA le *show significant items separately under Current liabilities SHAREHOLDERS EQUITY Ordinary share capital Retained income Non-current liabilities Current liabilities Urhwebo nezinye ezihlawulwayo TOTAL EQUITY AND LIABILITIES 17 EWONKE 60 Ilungelo loshicilelo likhuselwe Tyhila ### Page 6 Downloaded from hlayiso.com 6 ACCOUNTING P1 (INCWADI YOKUPHENDULELA) (EC/SEPTEMBA 2021) UMBUZO 3 3.1 Bala oku kulandelayo kwe Cash Flow Statement ngomhla we 31 August 2021: 3.1.1 Utshintsho kwizinto ezihlawulwayo (bonisa ukuba yi inflow okanye outflow yemali) BALA IMPENDULO 4 3.1.2 Irhafu (Income tax) ehlawulweyo BALA IMPENDULO 4 3.1.3 Dividends paid BALA IMPENDULO 4 3.1.4 Imali evela kwizabelo ezinikezelweyo BALA IMPENDULO 5 3.1.5 Imali esetyenziselwe ukuphinda kuthengwe izabelo WORKINGS ANSWER 3 3.1.6 Ukratya (Increase) kwimali-mboleko WORKINGS ANSWER 4 Ilungelo loshicilelo likhuselwe Tyhila ### Page 7 Downloaded from hlayiso.com (EC/SEPTEMBA 2021) ACCOUNTING P1 (INCWADI YOKUPHENDULELA) 7 3.2 NET CHANGE IN CASH AND CASH EQUIVALENTS Cash and cash equivalents (opening balance) Cash and cash equivalents (closing balance) 4 3.3 3.3.1 Bala: Acid-test ratio BALA IMPENDULO 3 3.3.2 Bala: % return on average shareholders’ equity BALA IMPENDULO 5 3.3.3 Bala: Dividend pay-out rate (%) BALA IMPENDULO 4 EWONKE 40 Ilungelo loshicilelo likhuselwe Tyhila ### Page 8 Downloaded from hlayiso.com 8 ACCOUNTING P1 (INCWADI YOKUPHENDULELA) (EC/SEPTEMBA 2021) UMBUZO 4 4.1 4.1.1 4.1.2 4.1.3 3 4.2.1 Chonga inkamapani eyeyona ine-efficient liquidity position. Caphula uchaze zibe NTATHU i financial indicators ukuxhasa oko ukukhethileyo. INKAMPANI: FINANCIAL INDICATORS KUNYE NENKCAZA: 6 4.2.2 Umlawuli wase-Green Ltd ucinga ukuba inkampani imele ukuhlawula imali-mboleko ngokukhawuleza. Chaza ukuba ungathini kuye. Caphula ifinancial indicators ZIBEMBINI (kunye namanani) ukuxhasa uluvo lwakho. 6 4.2.3 Comment on the dividend pay-out rates of Green Ltd and Plaza Ltd, and provide a reason for the directors of each company deciding on those pay-out rates. Quote figures. 6 Ilungelo loshicilelo likhuselwe Tyhila ### Page 9 Downloaded from hlayiso.com (EC/SEPTEMBA 2021) ACCOUNTING P1 (INCWADI YOKUPHENDULELA) 9 4.2.4 Shareholding of Sandi Charley: USandi Charley ngumnini-zabelo kwinkampani ezimbini kwezi. Unamali engange-R800 000 afuna ukuyityala kwizabelo ezitsha. Zontathu ezinkampanii zigqibe ekongezeni izabelo nge-1 March 2021, zisebenzisa imarket price emiyo yange-28 February 2021. Bala ipesenti(%) yezabelo zikaSandi kwa Green Ltd ze uphawule (comment) kwiziphumo ozifumeneyo. BALA: PHAWULA: 4 Bala elona nani lincinci lezabelo ekufuneka elithengile kwaGreen Ltd kunye nemali anokuyisebenzisa. 6 Ungamcebisa njani u Sandi malunga nembono yakhe yokuthenga izabelo kwaPlaza Ltd? Nika iingongoma zibe MBINI. Caphula amanani (izikhombisi zemali) ukuxhasa iingcebiso zakho. 4 EWONKE 35 AMANQAKU EWONKE: 150 Ilungelo loshicilelo likhuselwe Tyhila ### Page 10 Downloaded from hlayiso.com ### Page 11 Downloaded from hlayiso.com ### Page 12 Downloaded from hlayiso.com ### Page 13 Downloaded from hlayiso.com ### Page 14 Downloaded from hlayiso.com ### Page 15 Downloaded from hlayiso.com ### Page 16 (EC/SEPTEMBER 2021) ACCOUNTING P1 (ANSWER BOOK) 9 4.2.4 Shareholding of Sandi Charley: Sandi Charley is a shareholder in two of these companies. She has R800 000 and intends to invest in new shares. All three companies have decided to issue additional shares on 1 March 2021, at the existing market price on 28 February 2021. Calculate Sandi’s % shareholding in Green Ltd and comment on your findings. CALCULATION: COMMENT: 4 Calculate the minimum number of shares she should buy in Green Ltd and the amount she would have to spend. 6 What advice would you offer Sandi regarding her intentions to purchase shares in Plaza Ltd? Provide TWO points. Quote figures (financial indicators) to support your advice. 4 TOTAL 35 TOTAL: 150 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 17 8 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2021) QUESTION 4 4.1 4.1.1 4.1.2 4.1.3 3 4.2.1 Identify the company that has the most efficient liquidity position. Quote and explain THREE financial indicators to support your choice. COMPANY: FINANCIAL INDICATORS AND EXPLANATION: 6 4.2.2 A director of Green Ltd feels that the company should pay back the loan as soon as possible Explain what you would say to him. Quote TWO financial indicators (with figures) to motivate your opinion. 6 4.2.3 Comment on the dividend pay-out rates of Green Ltd and Plaza Ltd, and provide a reason for the directors of each company deciding on those pay-out rates. Quote figures. 6 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 18 (EC/SEPTEMBER 2021) ACCOUNTING P1 (ANSWER BOOK) 7 3.2 NET CHANGE IN CASH AND CASH EQUIVALENTS Cash and cash equivalents (opening balance) Cash and cash equivalents (closing balance) 4 3.3 3.3.1 Calculate: Acid-test ratio WORKINGS ANSWER 3 3.3.2 Calculate: % return on average shareholders’ equity WORKINGS ANSWER 5 3.3.3 Calculate: Dividend pay-out rate (%) WORKINGS ANSWER 4 TOTAL 40 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 19 6 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2021) QUESTION 3 3.1 Calculate the following for the Cash Flow Statement on 31 August 2021: 3.1.1 Change in payables (indicate inflow or outflow of cash) WORKINGS ANSWER 4 3.1.2 Income tax paid WORKINGS ANSWER 4 3.1.3 Dividends paid WORKINGS ANSWER 4 3.1.4 Proceeds from shares issued WORKINGS ANSWER 5 3.1.5 Funds used to repurchase shares WORKINGS ANSWER 3 3.1.6 Increase in loan WORKINGS ANSWER 4 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 20 (EC/SEPTEMBER 2021) ACCOUNTING P1 (ANSWER BOOK) 5 2.2 RETAINED INCOME Balance on 1 March 2020 Net profit after tax 689 310 Ordinary share dividends Interim dividends 126 000 Balance on 28 February 2021 7 2.3 EQUITIES AND LIABILITIES SECTION *show significant items separately under Current liabilities SHAREHOLDERS EQUITY Ordinary share capital Retained income Non-current liabilities Current liabilities Trade and other payables TOTAL EQUITY AND LIABILITIES 17 TOTAL 60 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 21 4 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2021) QUESTION 2 2.1 Statement of Comprehensive Income on 28 February 2021 Sales Cost of sales Gross profit Other income Discount received 14 000 Gross income Operating expenses Depreciation 86 010 Sundry expenses Operating profit Interest income 23 400 Profit before interest expense Net profit before income tax Income tax Net profit after tax 689 310 36 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 22 (EC/SEPTEMBER 2021) ACCOUNTING P1 (ANSWER BOOK) 3 1.2.4 Apart from the issues mentioned above, explain why the company would be accused of poor corporate governance. 2 TOTAL 15 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 23 2 ACCOUNTING P1 (ANSWER BOOK) (EC/SEPTEMBER 2021) QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 3 1.2 AUDIT REPORT 1.2.1 Identify the type of report and explain why this type of report was issued by the auditor. 2 1.2.2 Explain TWO points why shareholders will be concerned about the company receiving such a report. 4 1.2.3 The CEO requested that the auditor classifies this donation as a ‘sundry expense’ and adjust the audit opinion accordingly. Provide TWO reasons why the auditor would not agree with this suggestion. 4 Copyright reserved Please turn over Downloaded from hlayiso.com ### Page 24 Name: NATIONAL SENIOR CERTIFICATE GRADE 12 SEPTEMBER 2021 ACCOUNTING P1 ANSWER BOOK MARKS MODERATED QUESTION MAX. MARKS OBTAINED MARKS 1 15 2 60 3 40 4 35 150 *Acabe1* This answer book consists of 9 pages. 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