# Accounting Grade 12 P1 Gauteng Prelim 2024 Addendum (Eng) > Grade 12 Accounting Paper 1 addendum from the Gauteng Prelim Exam 2024 (English), 12 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/gr-12-accounting-p1-english-2024-answer-book-x05/4025c86c-3071-4a60-919f-b41d28349e35 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Addendum - Year: 2024 - Exam period: Gauteng Prelim Exam - Paper: 1 - Curriculum: CAPS - Pages: 12 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 Gauteng Prelim 2024 Addendum (Eng)](https://www.hlayiso.com/library/gr-12-accounting-p1-english-2024-answer-book-x05/4025c86c-3071-4a60-919f-b41d28349e35) ## About this document Accounting · Grade 12 · Gauteng Prelim Exam · 2024 · English. Addendum, 12 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 PREPARATORY EXAMINATION 2024 10711 ACCOUNTING PAPER 1 ANSWER BOOK 10 pages NAME OF SCHOOL: NAME OF LEARNER: MARKS QUESTION TOPIC MARKS OBTAINED 1 Company Financial Statements 55 2 Cash Flow Statement and Financial Indicators 40 3 Interpretation of Financial Statements 40 4 Corporate Governance 15 TOTAL 150 P.T.O. ### Page 2 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 2 (PAPER 1) 10711/24 QUESTION 1 1.1 Statement of Comprehensive Income for the year ended 29 February 2024 Sales 20 035 000 Cost of sales (11 409 700) Gross profit 8 625 300 Other operating income 2 086 500 Bad debts recovered Sundry income Gross operating income 10 711 800 Operating expenses Insurance Depreciation Sundry expenses Operating profit 6 317 500 Interest income 94 500 Profit before interest expense 6 412 000 Interest expense (162 000) Profit before income tax 6 250 000 Income tax (1 750 000) Net profit after tax 4 500 000 22 P.T.O. ### Page 3 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 3 (PAPER 1) 10711/24 1.2 Statement of Financial Position for the year ended 29 February 2024 ASSETS NON-CURRENT ASSETS Fixed assets CURRENT ASSETS 3 429 700 Trade and other receivables TOTAL ASSETS EQUITY AND LIABILITIES ORDINARY SHAREHOLDERS' EQUITY NON-CURRENT LIABILITIES CURRENT LIABILITIES Trade and other payables 33 TOTAL EQUITY AND LIABILITIES TOTAL MARKS 55 P.T.O. ### Page 4 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 4 (PAPER 1) 10711/24 QUESTION 2 JELLICOE LIMITED 2.1 Ordinary share capital note on 29 February 2024 Ordinary shares at the beginning of the 1 900 000 5 320 000 year 8 2.2 Calculate: Income tax paid WORKINGS ANSWER 4 Calculate: Dividends paid WORKINGS ANSWER 2 2.3 CASH FLOW OF FINANCING ACTIVITIES 7 NET CHANGE IN CASH AND CASH EQUIVALENTS 4 P.T.O. ### Page 5 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 5 (PAPER 1) 10711/24 2.4 The CEO is concerned about an increased amount of change in working capital. Identify TWO areas that affected the change and provide ONE solution to address each of the concerns. Quote figures and trends. CONCERN SOLUTION 4 2.5 Calculate: Net Asset value per share WORKINGS ANSWER 4 Calculate: Dividends per share WORKINGS ANSWER 4 Calculate: % return on average shareholders’ equity WORKINGS ANSWER 3 TOTAL MARKS 40 P.T.O. ### Page 6 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 6 (PAPER 1) 10711/24 QUESTION 3 BUHLE LIMITED 3.1 3.1.1 3.1.2 3.1.3 3 3.2 Shareholders are complaining about the irresponsible price decrease during the 2024 financial year. The directors maintain that pricing is of significant importance when compared to competitors. Justify the directors' decision. Quote TWO financial indicators with figures. 4 3.3 Comment on the net working capital of the company. Quote TWO financial indicators with figures. 6 P.T.O. ### Page 7 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 7 (PAPER 1) 10711/24 3.4 Explain how the issue of new shares has affected the financial risk and gearing of Buhle Ltd. Quote TWO financial indicators and figures. 6 3.5 Explain why directors should be interested in the price of their company's shares on the JSE. 2 Comment on the price of the new shares issued in February 2024. Give a reason why shareholders should not be satisfied with this price. Quote TWO financial indicators and figures to support your opinion. 5 P.T.O. ### Page 8 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 8 (PAPER 1) 10711/24 Calculate the maximum number of shares that F. Nxumalo will be able to sell without losing his majority status (assume that all other shares stay unchanged). WORKINGS ANSWER 3 3.6 Explain how the company managed to fund the high dividends without using the borrowed money to make the shareholders happy. Provide ONE point with figures. 2 Explain the change in the dividend payout rate and give a reason for this change. Quote figures. 3 Explain whether the shareholders should be satisfied with the earnings and returns of the company. Quote TWO financial indicators. 6 TOTAL MARKS 40 P.T.O. ### Page 9 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 9 (PAPER 1) 10711/24 QUESTION 4 4.1 The shareholders of Ekurhuleni Ltd will not be happy with the audit reports of the past 5 years after the recent findings. Explain what an unqualified audit report is. Explain why the shareholders will not be happy. 3 4.2 Watchdog (Gatekeeper) An auditor serves as a watchdog regarding several important functions to ensure transparency, accountability and compliance within the company. Explain TWO key functions of an auditor in the company. 4 P.T.O. ### Page 10 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 10 (PAPER 1) 10711/24 4.3 Shareholders concern and company reputation: As a shareholder, explain TWO effects that will be of concern based on the findings in the article. 4 4.4 The CFO of Ekurhuleni Ltd has emphasised that maintaining financial data integrity is crucial for the company to ensure accurate reporting and compliance with regulations. State TWO practices that can help to maintain the integrity of accounting records within the company. 4 TOTAL MARKS 15 TOTAL: 150 END ### Page 11 Downloaded from hlayiso.com ### Page 12 PREPARATORY EXAMINATION 2024 10711 ACCOUNTING PAPER 1 ANSWER BOOK 10 pages Downloaded from hlayiso.com ## Related documents - [Gr 12 Accounting P2 (English) 2024 Possible Answers](https://www.hlayiso.com/library/gr-12-accounting-p2-english-2024-possible-answers/2ac769f4-a38a-4036-9426-9410caa51b2a) — Accounting · Memo · 2024 · Eng - [ACCOUNTING P1 MEMO GR12 JUNE 2024 English](https://www.hlayiso.com/library/accounting-p1-memo-gr12-june-2024-english/ef245808-e780-418c-ba92-6f41e021a333) — Accounting · Memo · 2024 · Eng - [ACCOUNTING P1 QP GR12 JUNE 2024 English](https://www.hlayiso.com/library/accounting-p1-qp-gr12-june-2024-english/11d1ced2-c8c5-4ce3-97cc-34b06c5cad08) — Accounting · QP · 2024 · Eng - [ACCOUNTING P1 GR12 QP SEPT2024 English](https://www.hlayiso.com/library/accounting-p1-gr12-qp-sept2024-english/815577e2-9528-4d64-854e-0d3f0cc0dd78) — Accounting · QP · 2024 · Eng - [Gr 12 Accounting P1 (English) June 2024 Possible Answers](https://www.hlayiso.com/library/gr-12-accounting-p1-english-june-2024-possible-answers/11d6484c-77b1-4a71-8799-a6e1177c4dbc) — Accounting · Memo · 2024 · Eng - [ACCOUNTING P1 GR12 ANSWERBOOK JUNE 2022 English](https://www.hlayiso.com/library/accounting-p1-gr12-answerbook-june-2022-english/3f567dee-27d7-45f0-b356-dc5d1a094a3a) — Accounting · Addendum · 2022 · 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 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 (English) June 2025 Possible Answers](https://www.hlayiso.com/library/accounting-p1-english-june-2025-possible-answers/86671777-58f6-4c82-932c-4924bae022c0) — Memo · 2025 · Eng - [Accounting Grade 12 NSC MEMO P1 May June 2025 Limpopo](https://www.hlayiso.com/library/accounting-grade-12-nsc-memo-p1-may-june-2025-limpopo/4bc5dfae-35c0-4acd-83c3-4b53266a3680) — Memo · 2025 ## 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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