# Accounting Grade 12 P1 Gauteng Mock 2020 Addendum (English) > Grade 12 Accounting Paper 1 addendum from the Gauteng Mock Exam 2020 (English), 10 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/grade-12-nsc-accounting-p1-english-2020-preparatory-answer-book/376573fc-2774-4157-a811-def8926fce62 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Addendum - Year: 2020 - Exam period: Gauteng Mock 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 Gauteng Mock 2020 Addendum (English)](https://www.hlayiso.com/library/grade-12-nsc-accounting-p1-english-2020-preparatory-answer-book/376573fc-2774-4157-a811-def8926fce62) ## About this document Accounting · Grade 12 · Gauteng Mock Exam · 2020 · English. 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 GAUTENG DEPARTMENT OF EDUCATION PREPARATORY EXAMINATION 2020 10711 ACCOUNTING PAPER 1 ANSWER BOOK 10 pages Name: MARKER / QUESTION MARKS MODERATOR 1 2 3 TOTAL P.T.O. ### Page 2 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 2 (Paper 1) 10711/20 QUESTION 1: CONCEPTS AND FINANCIAL STATEMENTS (50 marks; 40 minutes) 1.1 CONCEPTS 1.1.1 1.1.2 1.1.3 1.1.4 4 1.2.1 Calculate the correct net profit. Net profit as per profit and loss 1 810 404 12 1.2.2 TRADE AND OTHER RECEIVABLES Debtors’ Control 64 800 9 P.T.O. ### Page 3 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 3 (Paper 1) 10711/20 1.2.3 TWO-WAY LTD BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) ON 29 FEBRUARY 2020 ASSETS NON-CURRENT ASSETS Financial Assets CURRENT ASSETS TOTAL ASSETS EQUITY AND LIABILITIES SHAREHOLDERS’ EQUITY NON-CURRENT LIABILITIES CURRENT LIABILITIES Trade and other payables 112 352 TOTAL EQUITY AND LIABILITIES 25 Marks 50 P.T.O. ### Page 4 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 4 (Paper 1) 10711/20 QUESTION 2: CASH FLOW STATEMENT (50 marks; 40 minutes) 2.1 2.1.1 2.1.2 2.1.3 3 2.2.1 Ordinary Share Capital Note Authorised 1 200 000 ordinary shares Issued Shares in issue on 1 May 2019 Shares in issue on 30 April 2020 11 Retained Income Note Balance at beginning of financial year Dividends • • Balance at end of financial year 13 P.T.O. ### Page 5 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 5 (Paper 1) 10711/20 2.2.2 Calculate the income tax paid. 4 Calculate the dividends paid. 3 Calculate the loan repayment amount. 2 Calculate the net change in cash and cash equivalents. Net change in cash and cash equivalents Opening bank balance Closing bank balance 5 2.2.3 Cash effects on investing activities Proceeds from asset sold 22 000 9 Marks 50 P.T.O. ### Page 6 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 6 (Paper 1) 10711/20 QUESTION 3: INTERPRETATION OF FINANCIAL STATEMENTS AND AUDIT REPORT (50 marks; 40 minutes) 3.1 AVIEE LTD 3.1.1 Calculate the acid-test ratio. 4 Calculate the debt-equity ratio. 3 Calculate the return on average shareholders’ equity. 5 3.1.2 Comment on the dividend policy for 2020. Provide a calculation to support your answer. 5 P.T.O. ### Page 7 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 7 (Paper 1) 10711/20 3.1.3 The directors decided to change the dividend policy in 2020. Give TWO reasons for this change. 4 3.1.4 Comment on the gearing and degree of risk for 2020. Quote TWO relevant indicators in your comment. 6 3.1.5 The shareholders are dissatisfied with the repurchase price of shares. Using the relevant indicators and figures, explain why they are dissatisfied. 3 P.T.O. ### Page 8 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 8 (Paper 1) 10711/20 3.2 AUDIT REPORT 3.2.1 Briefly explain the role of the independent auditor. 2 3.2.2 What type of report did Ivory Limited receive? Explain your answer. 3 3.2.3 To whom is this audit report addressed? 1 3.2.4 State TWO possible consequences for the independent auditor if he had NOT mentioned the donation in his report. 2 P.T.O. ### Page 9 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 9 (Paper 1) 10711/20 3.2.5 State ONE consequence that this report could have on the company. 2 3.2.6 How will this report affect the price of shares? 2 3.2.7 Explain why the independent auditors mentioned IFRS in the audit report. 2 P.T.O. ### Page 10 Downloaded from hlayiso.com ACCOUNTING ANSWER BOOK 10 (Paper 1) 10711/20 3.2.8 (a) Explain the need for corporate social investment. 2 (b) What do you understand by the triple bottom line? 2 (c) Which component of the annually published financial statements should contain details of the donation to the Covid-19 Food Parcel Relief? 2 Marks 50 TOTAL: 150 END ## Related documents - [ACCOUNTING P2 GR12 ANSWERBOOK SEPT2020 English](https://www.hlayiso.com/library/accounting-p2-gr12-answerbook-sept2020-english/7c7795c6-891d-43ba-bdd7-60bcccc8c166) — Accounting · Addendum · 2020 · Eng - [Grade 12 NSC Accounting (English) Answer Book 2015 Prepartory Examination Answer Book](https://www.hlayiso.com/library/grade-12-nsc-accounting-english-answer-book-2015-prepartory-examination-answer-book/1504bb7f-526b-44e4-991e-b308973bbfca) — Accounting · Addendum · 2015 · 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 - [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 GR12 MEMO SEPT 2020 English](https://www.hlayiso.com/library/accounting-p2-gr12-memo-sept-2020-english/b6d54b19-200a-4cbf-aaad-8df18fd74e19) — Accounting · Memo · 2020 · Eng - [ACCOUNTING P2 GR12 QP SEPT2020 English](https://www.hlayiso.com/library/accounting-p2-gr12-qp-sept2020-english/f03e0db8-e54a-430c-a3c1-424aaa129fde) — Accounting · QP · 2020 · 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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