# Accounting Grade 12 P1 NSC November 2020 Addendum (English) > Grade 12 Accounting Paper 1 addendum from the NSC November Exam 2020 (English), 9 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/accounting-p1-nsc-nov-2020-answer-book-eng-2/df859adb-64ad-482e-9f50-3eb6348d0f07 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Addendum - Year: 2020 - Exam period: NSC November 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 P1 NSC November 2020 Addendum (English)](https://www.hlayiso.com/library/accounting-p1-nsc-nov-2020-answer-book-eng-2/df859adb-64ad-482e-9f50-3eb6348d0f07) ## About this document Accounting · Grade 12 · NSC November Exam · 2020. 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 NATIONAL SENIOR CERTIFICATE ACCOUNTING P1 GRADE 12 NOVEMBER 2020(2) 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/November 2020(2) NSC – Answer Book QUESTION 1 1.1.1 (i) Calculate: Carrying value of the vehicle on hand on 1 March 2020 Workings Answer 2 (ii) Calculate: Depreciation on vehicles for the year Workings Answer 5 (iii) Calculate: Carrying value of equipment sold Workings Answer 4 1.1.2 Calculate: Profit/Loss on the sale of equipment Workings Answer 2 1.2 Calculate: Trading stock deficit Workings Answer 4 NOTE: The relevant figures calculated above must be transferred to the Statement of Comprehensive Income. Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting/P1 3 DBE/November 2020(2) NSC – Answer Book 1.3 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2021 Sales Cost of sales (6 966 000) Other income Gross operating profit Operating expenses Salaries and wages 1 468 120 Depreciation Sundry expenses 452 310 Operating profit Profit before interest expense Interest expense Net profit before tax Net profit after tax 1 054 000 43 TOTAL MARKS 60 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting/P1 4 DBE/November 2020(2) NSC – Answer Book QUESTION 2 2.1 2.1.1 2.1.2 2.1.3 3 2.2 USANDA LIMITED 2.2.1 Calculate: Income tax paid Workings Answer 4 Calculate: Dividends paid Workings Answer 4 2.2.2 CASH EFFECTS OF FINANCING ACTIVITIES 11 NET CHANGE IN CASH AND CASH EQUIVALENTS Cash (opening balance) Cash (closing balance) 4 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting/P1 5 DBE/November 2020(2) NSC – Answer Book 2.2.3 Calculate financial indicators for the year ended 28 February 2021: % operating profit on sales Workings Answer 2 Acid-test ratio Workings Answer 4 % return on average shareholders' equity (ROSHE) Workings Answer 4 Dividend payout rate (%) Workings Answer 4 TOTAL MARKS 40 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting/P1 6 DBE/November 2020(2) NSC – Answer Book QUESTION 3 3.1 3.1.1 3.1.2 3.1.3 3.1.4 4 3.2 SCI-FI GEEKS LTD 3.2.1 The directors are satisfied with the improvement in the current ratio and the acid-test ratio. Explain why you would disagree with them. Quote TWO financial indicators in your response. 6 3.2.2 Comment on the dividend per share over the two years. Quote figures. 2 Explain the change in the dividend payout rate. Quote figures. Give a reason for this change. 4 A shareholder felt that they should be satisfied with the dividends they received as it is better than last year. Explain why you agree with him. Quote figures. 3 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting/P1 7 DBE/November 2020(2) NSC – Answer Book 3.2.3 Comment on the risk and gearing for both years. Quote TWO financial indicators (with figures). 6 3.2.4 Existing shareholders are dissatisfied that the new shares issued on 1 April 2020 were sold to the CEO, Ida Shark. Give TWO reasons why you consider their feelings to be justified. Quote figures. 6 3.2.5 The Cash Flow Statement reflected a positive change in R980 000. Provide TWO points why this should still be a concern to directors. Quote figures. 4 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting/P1 8 DBE/November 2020(2) NSC – Answer Book QUESTION 4 4.1 Explain why a qualified audit report is not a good reflection of a company. Provide TWO points. 4 4.2 Explain why it is important for a company to include non-executive as well as executive directors on the Board of Directors. 4 4.3 According to the Companies Act, 2008 (Act 11 of 2008), a company must have a Remunerations Committee. Explain the role/responsibility of this committee and give a reason why this committee is necessary. EXPLANATION: REASON: 3 c Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting/P1 9 DBE/November 2020(2) NSC – Answer Book 4.4 Directors engage with clients on a regular basis in an effort to negotiate contracts and to increase sales and services. Explain why there should be a company policy that directors must declare to the Board all gifts, donations or favours received by them from clients. Provide TWO points. 4 TOTAL MARKS 15 TOTAL: 150 Copyright reserved ## Related documents - [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 NSC Nov 2020 Answer Book Afr](https://www.hlayiso.com/library/accounting-p2-nsc-nov-2020-answer-book-afr-2/4cac0f65-ae9d-4da2-b413-d8c18d44450a) — Accounting · Addendum · 2020 · 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 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 - [2020 KZN Prelim P1 QP](https://www.hlayiso.com/library/2020-kzn-prelim-p1-qp/7d905a97-970a-4c23-8a93-54f8f6650432) — Accounting · QP · 2020 - [Accounting P1 Nov 2023 Eng](https://www.hlayiso.com/library/accounting-p1-nov-2023-eng/4c9e315d-40c3-4d80-9775-322ef8d07061) — Accounting · QP · 2023 · 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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