# Accounting Grade 12 P1 NSC November 2021 Addendum (English) > Grade 12 Accounting Paper 1 addendum from the NSC November Exam 2021 (English), 10 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accounting-p1-nov-2021-answer-book-eng/16d2775a-8458-4ac4-bf5d-fcf37fd9f6b5 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2021 - Exam period: NSC November 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 NSC November 2021 Addendum (English)](https://www.hlayiso.com/library/accounting-p1-nov-2021-answer-book-eng/16d2775a-8458-4ac4-bf5d-fcf37fd9f6b5) ## About this document Accounting · Grade 12 · NSC November Exam · 2021. Addendum, 10 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 NATIONAL SENIOR CERTIFICATE ACCOUNTING P1 GRADE 12 NOVEMBER 2021 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 10 pages. Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting/P1 2 DBE/November 2021 NSC – Answer Book QUESTION 1 1.1 Calculate the value of the closing stock of formal suits that was omitted from the stock sheets on 30 June 2021. WORKINGS ANSWER 5 1.2 Calculate the correct net profit after tax for the year ended 30 June 2021. Indicate '+' for increase and '–' for decrease. NO. WORKINGS AMOUNT Incorrect net profit before tax 4 918 950 (i) Audit fees (ii) Interest on loan (iii) Rent income (vi) Income tax Net profit after tax 12 1.3 Retained Income Note on 30 June 2021 Balance at beginning Balance at end 3 240 000 5 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting/P1 3 DBE/November 2021 NSC – Answer Book JIMO LTD STATEMENT OF FINANCIAL POSITION ON 30 JUNE 2021 Figures are NOT required in shaded areas. ASSETS NON-CURRENT ASSETS Fixed assets Financial assets CURRENT ASSETS 8 700 000 TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY Retained income 3 240 000 NON-CURRENT LIABILITIES CURRENT LIABILITIES Bank overdraft TOTAL EQUITY AND LIABILITIES 33 TOTAL MARKS 55 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting/P1 4 DBE/November 2021 NSC – Answer Book QUESTION 2 2.1 Ordinary Share Capital Note on 28 February 2021 800 000 Ordinary shares at the beginning 100 000 New shares issued Shares at the end of the year 7 395 000 6 2.2 Calculate the following financial indicators on 28 February 2021: % operating expenses on sales WORKINGS ANSWER 2 Dividend per share WORKINGS ANSWER 4 % return on average shareholders' equity WORKINGS ANSWER 5 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting/P1 5 DBE/November 2021 NSC – Answer Book 2.3 CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2021 Figures are NOT required in shaded areas. CASH FLOW FROM OPERATING ACTIVITIES 1 180 000 Cash generated from operations Interest paid CASH FLOW FROM INVESTING ACTIVITIES (1 320 000) CASH FLOW FROM FINANCING ACTIVITIES NET CHANGE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING CASH AND CASH EQUIVALENTS AT END 18 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting/P1 6 DBE/November 2021 NSC – Answer Book QUESTION 3 3.1 3.1.1 3.1.2 3.1.3 3.1.4 4 3.2 FLEXI LTD AND BROOM LTD 3.2.1 Profitability: Quote and explain TWO financial indicators to show which company is managing its expenses more efficiently, and is thereby more profitable. Quote figures and trends. 4 3.2.2 Dividends, earnings and returns: Comment on the dividend pay-out policy of Flexi Ltd. Explain why this is an irresponsible change in policy. Provide TWO points. Quote figures and trends. 4 Comment on the % return on shareholders' equity of EACH company. Quote figures and trends. 4 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting/P1 7 DBE/November 2021 NSC – Answer Book A shareholder feels that earnings per share (EPS) in Broom Ltd are better than that in Flexi Ltd. Explain why you agree with him. Quote figures or calculations. 4 3.2.3 Shareholding of Bob Yates in both companies: Comment on the price paid for the shares repurchased by Flexi Ltd. Provide TWO points. Quote figures. 4 Calculate the number of shares that Bob purchased in Broom Ltd with the money he received from the share buyback at Flexi Ltd. WORKINGS ANSWER 2 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting/P1 8 DBE/November 2021 NSC – Answer Book Explain the effect of the share repurchase on the % shareholding of Bob Yates in EACH company. Quote figures and trends. 4 3.2.4 Financing strategies and gearing: Explain the decisions taken by the directors of Broom Ltd and how these will benefit the company. Quote figures. 4 Explain how the decisions taken by Flexi Ltd affected the risk and gearing of the business. Quote TWO financial indicators. 6 TOTAL MARKS 40 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting/P1 9 DBE/November 2021 NSC – Answer Book QUESTION 4 4.1 Explain why a disclaimer audit report would be bad for a company's reputation. Provide TWO points. POINT 1 POINT 2 4 4.2 One of the most important decisions that shareholders have to make at the annual general meeting (AGM) is to appoint directors to serve on the board. Explain why the shareholders have been given this responsibility. 2 If you were a shareholder, what factors or characteristics would you want to find out about the directors who would get your vote? Explain TWO points and give a reason for EACH. EXPLANATION REASON POINT 1 POINT 2 6 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com Accounting/P1 10 DBE/November 2021 NSC – Answer Book 4.3 A recent news report stated that a major company, Baxco Ltd, had been awarded a tender to supply equipment worth R20 m to a chain of private hospitals. The report accuses the CFO (chief financial officer) of that company of paying R2 m in cash to the CEO of the hospital group. As a shareholder, explain what you would say at the AGM. Provide TWO points. 4 4.4 Refer to the question paper for an extract from the website and Directors' Report of a major South African company. In your opinion, explain why this major company found it necessary to implement this policy. Provide TWO points. 4 TOTAL MARKS 20 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 Nov 2023 Answer Book Eng](https://www.hlayiso.com/library/accounting-p1-nov-2023-answer-book-eng/aaeb9a41-12fe-49c2-9ba7-37693926cbd5) — Accounting · Addendum · 2023 · Eng - [Accounting P1 NSC Nov 2020 Answer Book Afr](https://www.hlayiso.com/library/accounting-p1-nsc-nov-2020-answer-book-afr-2/f42d3e7f-93f7-42d0-9ab9-a62420582442) — Accounting · Addendum · 2020 · Afr - [Accounting P2 Nov 2021 Afr](https://www.hlayiso.com/library/accounting-p2-nov-2021-afr/6fec8993-f2b5-4aac-9ce1-277abdc5ca20) — Accounting · QP · 2021 · Afr - [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 ## 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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