Accounting Grade 12 Paper 1 NSC June 2022 Addendum (English)

Downloaded from hlayiso.com STICKER CENTRE NUMBER EXAMINATION NUMBER SENIOR CERTIFICATE EXAMINATIONS/ NATIONAL SENIOR CERTIFICATE EXAMINATIONS ACCOUNTING P1 GRADE 12 2022 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 10 pages. Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 2 DBE/2022 SC/NSC – Answer Book QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 3 1.2 PRUDENCE LTD 1.2.1 ORDINARY SHARE CAPITAL 7 954 000 7 RETAINED INCOME Balance on 1 March 2021 Shares repurchased Ordinary share dividends Final dividends 213 400 Balance on 28 February 2022 1 196 000 7 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 3 DBE/2022 SC/NSC – Answer Book STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) 1.2.2 ON 28 FEBRUARY 2022 ASSETS NON-CURRENT ASSETS Fixed assets CURRENT ASSETS 2 080 000 Inventory Trade and other receivables TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY 9 150 000 Ordinary share capital 7 954 000 Retained income 1 196 000 NON-CURRENT LIABILITIES CURRENT LIABILITIES Trade and other payables Bank overdraft TOTAL EQUITY AND LIABILITIES 28 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 4 DBE/2022 SC/NSC – Answer Book QUESTION 2 2.1 2.1.1 2.1.2 2.1.3 3 2.2 JANTJES LIMITED 2.2.1 WORKINGS ANSWER (i) Carrying value of vehicles on 1 March 2021 (ii) Total depreciation on equipment (iii) Carrying value of the vehicle sold 11 2.2.2 Calculate the following amounts for the 2022 Cash Flow Statement: WORKINGS ANSWER Fixed assets purchased 6 Dividends paid 4 Decrease in loan 3 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 5 DBE/2022 SC/NSC – Answer Book 2.2.3 NET CHANGE IN CASH AND CASH EQUIVALENTS 4 2.2.4 Calculate the following financial indicators on 28 February 2022: WORKINGS ANSWER % mark-up achieved 3 Acid-test ratio 4 Net asset value per share (NAV) 3 % return on average shareholders' equity (ROSHE) 4 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 6 DBE/2022 SC/NSC – Answer Book QUESTION 3 3.1 Profitability/Operating efficiency: Identify and explain which company has been more efficient in controlling its operating activities. Quote TWO financial indicators. 5 3.2 Liquidity: Identify and explain which company has better liquidity financial indicators. Quote TWO financial indicators. 3 Explain ONE concern you have about the liquidity of the other company. Quote ONE financial indicator. 2 3.3 Dividends: Comment on the difference between the dividend pay-out policies implemented by the directors of the two companies and explain ONE possible reason for EACH of their decisions in their respective companies. Quote figures or indicators. COMMENT ON POLICIES POSSIBLE REASON (with figures) FOR DECISION VREDE LTD NIGEL LTD 6 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 7 DBE/2022 SC/NSC – Answer Book 3.4 Gearing, risk, financing and investing activities: Explain the specific decisions taken by the directors of EACH company that have affected gearing and risk. Quote rand amounts. VREDE LTD NIGEL LTD 4 Comment on the gearing and risk of Nigel Ltd. Quote TWO financial indicators. 4 At the Nigel Ltd AGM, an angry shareholder said that the directors' aggressive strategies would probably lead to the failure of the company in future. Explain TWO points why the shareholder might feel this way. 5 3.5 Shareholders' assessment of market prices of shares: Explain by quoting figures or indicators and, for each company, identify a factor that would have affected the market price of the shares. VREDE LTD NIGEL LTD 6 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 8 DBE/2022 SC/NSC – Answer Book 3.6 Shareholding of Jay Sonto in Vrede Ltd and Nigel Ltd: Provide calculations to show the change in Jay's % shareholding in Nigel Ltd over the financial year. Comment on his % shareholding in EACH company. VREDE LTD NIGEL LTD 4 Calculate the total profit or loss he is currently making on his shares in EACH company. VREDE LTD NIGEL LTD Advise if it is wise to sell 19 000 shares in Nigel Ltd, or not. 6 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 9 DBE/2022 SC/NSC – Answer Book QUESTION 4 4.1 Explain how you would respond to the CEO's statement. State TWO points. 4 4.2 State whether Franco Ltd is a public or private company. 1 Explain why employees and investors (shareholders) were distressed by this incident. Comment on employees: Comment on investors (shareholders): 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P1 10 DBE/2022 SC/NSC – Answer Book Explain what went wrong in the company to allow for this fraud to occur. State THREE different/separate points. 6 TOTAL MARKS 15 TOTAL: 150 Copyright reserved