# Accounting Grade 12 Paper 1 NSC June 2021 Addendum (English) > Grade 12 Accounting Paper 1 addendum from the NSC June Exam 2021 (English), 9 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accounting-p1-may-june-2021-answer-book-eng/ad2c865e-1b0e-4b40-9060-ba693ef9ed8b - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2021 - Exam period: NSC June Exam - Paper: 1 - Curriculum: CAPS - Pages: 9 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 Paper 1 NSC June 2021 Addendum (English)](https://www.hlayiso.com/library/accounting-p1-may-june-2021-answer-book-eng/ad2c865e-1b0e-4b40-9060-ba693ef9ed8b) ## About this document Accounting · Grade 12 · NSC June Exam · 2021. Addendum, 9 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 SENIOR CERTIFICATE EXAMINATIONS/ NATIONAL SENIOR CERTIFICATE EXAMINATIONS ACCOUNTING P1 GRADE 12 2021 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 9 pages. Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting/P1 2 DBE/2021 SC/NSC – Answer Book QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 3 1.2 NO. ACCOUNT ACCOUNT AMOUNT A O L DEBITED CREDITED 1.2.1 136 000 1.2.2 450 000 1.2.3 338 200 9 1.3.1 Identify the type of audit report that the company received. Give a reason for your answer. TYPE OF REPORT REASON 2 1.3.2 Explain why the auditor referred to pages 8 to 23. 2 Explain why the auditor referred to International Financial Reporting Standards and the Companies Act of South Africa 2 1.3.3 Name any TWO items of audit evidence that the auditors may have used. Item 1 Item 2 2 TOTAL MARKS 20 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting/P1 3 DBE/2021 SC/NSC – Answer Book QUESTION 2 2.1 Calculate the value of the closing stock on 28 February 2021 using the weighted-average method. WORKINGS ANSWER 5 2.2 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2021 Sales Cost of sales Gross profit 14 881 600 Other income Bad debts recovered 5 800 Rent income (208 250 Gross operating income Operating expenses Directors' fees 4 836 000 Audit fees 497 200 Advertising 342 400 Sundry expenses 88 000 Trading stock deficit Salaries and wages (6 425 000 Depreciation (41 250 Operating profit Interest income Profit before interest expense Interest expense Net profit before tax Income tax Net profit after tax 1 342 080 37 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting/P1 4 DBE/2021 SC/NSC – Answer Book 2.3 RETAINED INCOME NOTE Balance at beginning of financial year 2 978 000 Dividends   Balance at end of financial year 8 TOTAL MARKS 50 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting/P1 5 DBE/2021 SC/NSC – Answer Book QUESTION 3 3.1.1 Calculate: Debt-equity ratio WORKINGS ANSWER 3 3.1.2 Calculate: Net asset value per share WORKINGS ANSWER 3 3.1.3 Calculate: Dividend pay-out rate WORKINGS ANSWER 4 3.1.4 Calculate: Return on average shareholders' equity (ROSHE) WORKINGS ANSWER 4 3.2.1 For the Cash Flow Statement calculate: Change in receivables WORKINGS ANSWER Inflow/Outflow 3 3.2.2 For the Cash Flow Statement calculate: Change in payables WORKINGS ANSWER Inflow/Outflow 3 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting/P1 6 DBE/2021 SC/NSC – Answer Book 3.3.1 Calculate: Taxation paid WORKINGS ANSWER 4 3.3.2 Calculate: Dividends paid WORKINGS ANSWER 4 3.3.3 Calculate: Proceeds from sale of fixed assets WORKINGS ANSWER 5 3.3.4 Calculate: Funds used for the repurchase of shares WORKINGS ANSWER 2 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting/P1 7 DBE/2021 SC/NSC – Answer Book QUESTION 4 4.1 4.1.1 4.1.2 4.1.3 3 4.2 LIBRA LIMITED 4.2.1 Identify TWO other liquidity indicators which also show that the company is likely to have serious liquidity concerns in future. Explain ONE point in EACH case (with figures). POINT 1 POINT 2 4 4.2.2 Comment on how the increase in the loan affected the risk and gearing in 2021. Quote TWO financial indicators. State ONE point in EACH case (with figures). POINT 1 POINT 2 6 Explain whether the decision to purchase additional property had the desired effect on demand for this product (with figures). 3 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting/P1 8 DBE/2021 SC/NSC – Answer Book 4.2.3 Explain why the public was not interested in buying the new shares issued at R6,00 per share. Quote THREE financial indicators (excluding indicators stated in QUESTION 4.2.2). State ONE point in EACH case (with figures). POINT 1 POINT 2 POINT 3 9 4.2.4 State TWO different points to justify their opinion. Quote figures or financial indicators. POINT 1 POINT 2 4 4.2.5 Explain why the other directors were unhappy with the price paid for the shares repurchased from Anton Buys. State TWO points. Quote financial indicators or figures to support EACH point. POINT 1 POINT 2 4 Give a calculation to show whether the repurchase of these shares affected Anton Buys' status as majority shareholder, or not. WORKINGS ANSWER 3 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting/P1 9 DBE/2021 SC/NSC – Answer Book 4.2.6 Explain what is meant by good corporate governance and explain why it is important to the shareholders. 3 Explain a possible reason why Anton Buys says he will vote against the proposal by Excellence Ltd. 2 Explain why you agree with the directors. 2 Give the directors advice on how they should handle this. 2 TOTAL MARKS 45 TOTAL: 150 Copyright reserved ## Related documents - [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 - [Accounting P1 May June 2022 Answer Book Eng](https://www.hlayiso.com/library/accounting-p1-may-june-2022-answer-book-eng/c02aee4a-9feb-4a3f-93b7-18c217a78d57) — Accounting · Addendum · 2022 · Eng - [ACCOUNTING P1 GR12 MEMO SEPT 2021 Afrikaans](https://www.hlayiso.com/library/accounting-p1-gr12-memo-sept-2021-afrikaans/ba3a1ff7-09fc-402c-b9a3-c6afdd6d6bd6) — Accounting · Memo · 2021 · Afr - [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 ANSBK SEPT 2021 Sesotho D](https://www.hlayiso.com/library/accounting-p1-gr12-ansbk-sept-2021-sesotho-d/50ad1901-7a2b-4a4d-8341-73ad853187ca) — Accounting · QP · 2021 · Sesotho - [Accounting P1 May-June 2025 MG Afr](https://www.hlayiso.com/library/accounting-p1-may-june-2025-mg-afr/e1d7c729-bd17-40c4-8d22-40a10fe19150) — Accounting · Memo · 2025 · 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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