# Accounting Grade 12 NW March 2023 Paper & Memo

> Grade 12 Accounting question paper and memo from the NW March 2023, 11 pages. Read online or get the free PDF download.

- Page: https://www.hlayiso.com/library/nw-accounting-test-1-grade-12-march-2023-qp-and-memo/96b0589f-d027-4e1f-a60c-defcb2f3e625
- Updated: 2026-09-27
- Subject: Accounting
- Grade: Grade 12
- Document type: Question paper and memo
- Year: 2023
- Exam period: NW March
- Curriculum: CAPS
- Pages: 11

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## About this document

Accounting · Grade 12 · NW March · 2023. Question paper and memorandum, 11 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

education                                                       corner
                                                          Thelesho Tawana and
          Lefapha la Thuto la Bokone Boph irima            Modlrf Molema Road
          Noord-Wes Onderwys Departement                              Montshloa
                                                            Tel.: (018) 384-6007
          North West Education Department         e-mail: mmojafi@nwpg.gov.za
          NORTH WEST PROVINCE                     e-mail: ndulker@nwpg.gov.za

OFFICE OF THE SUB-DISTRICT MANAGER: MAHIKENG SUB-DISTRICT OFFICE
                NGAKA MODIRI MOLEMA DISTRICT

                                   GRADE 12

### Page 2

NMM/March/2023
                          NSC GRADE: 12 (Question paper)
INSTRUCTIONS AND INFORMATION

Read the following instructions carefully and follow them precisely.

2. A specia 1, WER BOOK is provided in which to answer ALL questions.
3. Show A     -, rkings to earn part-marks.
3. You ma�se a non-programmable calculator.
4. You may use a blue/black ink to answer questions.
5. Where applicable, show ALL calculations to ONE decimal point.
6. Write neatly and legibly.
7. Use the information in the table below as a guide when answering the
   question paper. Try NOT to deviate from it.

 QUESTION                       TOPIC                     MARKS          TIME IN
                                                                        MINUTES
      1.        Concepts and Accounting Equation             20         25 minutes

      2.        Statement of Financial position & Note       30         35 minutes

                                                TOTAL        50         60 minutes

Copyright reserved                                                      Please turn over

### Page 3

Rewnlogded from Stanmorepkysics.com NMM/March/2023
NSC GRADE: 12 (Question paper)

QUESTION: 1 CONCEPTS AND TRANSACTION ANALYSIS
(20 marks; 25 minutes)

1.1 Choose an explanation in COLUMN B that matches the term in COLUMN A.
Write only-the letters (A-E) next to the question numbers (1.1.1 to 1.1.5) in
the ANSWER BOOK.

NO COLUMN A COLUMN B
1.1.1] Internal auditor A. | Appointed by shareholders to manage
a company
1.1.2] Memorandum of B. | The body responsible for registration
incorporation (MOI) of all companies
1.1.3] Limited liability C. | Employed by a company to ensure
good internal control procedures
1.1.4] Director D. | Indicates that a company has a legal
personality of its own
1.1.5] Companies and E. | The document that establishes the
Intellectual Property rules and procedures of a company
Commission (CIPC)

(5 x 1) (5)
1.2. CLAY-BRICK LTD
REQUIRED:

Analyse the transactions below according to the headings on the table provided in
the ANSWER BOOK

= Indicate account debited and account credited in the General Ledger and the
effect on the accounting equation. Indicate an increase as +, a decrease as —
and no effect as 0. Refer to the example provided.

Example: Bought packing material on credit, R2 700.

ACCOUNT | ACCOUNT
NO. | pepreo | crepirep | AMOUNT | AO | Lt
e.g. Packing Creditors’ 8 200 0 - +
material Control
TRANSACTIONS:

1.2.1 The company issued additional 250 000 shares at R3 per share.

1.2.2 The company bought back 50000 shares at R4.00 pémjshare; the
average issue price of shares was R3.20.

1.2.3 The income tax assessment for the year was received./Thetincome tax
amount, R720 000, exceeded the provisional tax payments made. (15)

Copyright reserved Please turn over

### Page 4

Rewntogded from Stanmorephysics.com NMM/March/2023
NSC GRADE: 12 (Question paper)

QUESTION 2: COMPANY FINANCIAL STATEMENTS: STATEMENT OF
STATEMENT OF FINANCIAL POSITION (30 marks; 35 minutes)

The information relates to Laysano Ltd for the financial year ended on
28 February 2022.

REQUIRED;
2.1. Prepare-the following note of the financial statement

2.1.1. Retained income note (10)
2.2 Complete the following for the year ended 28 February 2022:

2.2.1 Equities and Liabilities section of the Statement of Financial Position (20)
NOTE: Some amounts are provided in the ANSWER BOOK.

INFORMATION:
A. Extract: Balances and totals from the records on 28 February:
2022 2021
(R) (R)
Ordinary share capital 6 670 000
Retained income 2
Loan: Saturn Bank 1 159 000 1 280 750
SARS: Income tax (provisional tax payments) 130 000
Creditors’ control ?
Sales 9 355 250
Rent income 183 600
Interest on loan 142 250
Dividends on ordinary shares (interim) 207 000

B. Additional information:

(i) A tenant has been leasing office space on the premises since March 2020.
She has paid the rent until 30 April 2022. Note that the monthly amount
was reduced by R1 350 with effect from 1 January 2022.

(ii) Income tax for the year is calculated at 30% of the net profit. The met profit
after tax is R356 300 after adjustments.

Copyright reserved Please turn over

### Page 5

Rewnlagded from Stanmorepkysics.com NMM/March/2023
NSC GRADE: 12 (Question paper)

(iii) Loan: Saturn Bank

All transactions with respect to the loan were recorded.

Interest of R142 250 on the loan is capitalised.

A fixed.monthly instalment (including interest) was paid in full.
Thercapital portion of the repayments will increase by 10% over the
next/financial year.

(iv) Shares-and dividends:

® On February 2022, the company bought back 40 000 shares at RO.50
above average issue price.

® A final dividend was declared on 28 February 2022.

= Total dividends for the year amounted to R345 000.

(v) Total Current assets amounted to R1 792 620

(vi). Financial indicator
[ Current ratio | 24:1 ]

Copyright reserved Please turn over

### Page 6

Downloaded from Stanmorephysics.com
education comer

Thelesho Tawana and
Lefapha la Thuto la Bokone Bophirima Modiri Molema Road
Noord-Wes Onderwys Departement rai (oissaoreuor
North West Education Department e-mail: mmojafi@nwpg.gov.za

NORTH WEST PROVINCE e-mail: nduiker@nwpg.gov.za

OFFICE OF THE,SUB-DISTRICT MANAGER: MAHIKENG SUB-DISTRICT OFFICE
INGAKA MODIRI MOLEMA DISTRICT

NAME OF SCHOOL

NAME OF CANDIDATE

CLASS NO.

[ GRADE 12 |

Question Topic Marks | Teacher Internal External
Moderator | Moderator
1 Concepts & 20
Accounting Equation
2 Notes & Statement of 30
Financial position
50
Total: 50 50 50

This answer book consists of 3 pages only

### Page 7

1.1

1.2

Rawintogded from Stanmorephysics.com NMM/March/2023
Grade: 12 (Answer Book)
QUESTION: 1
ACCOUNTING CONCEPTS:
1.1.1
1.1.2
1.1.3
1.1.4
1.1.5
ACCOUNTING EQUATION:
ACCOUNT ACCOUNT
NO. DEBITED CREDITED AMOUNT ° L
1.2.1
1.2.2
1.2.3 15
TOTAL
MARKS
20

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### Page 8

Rawintogded from Stanmorepbysics.com
Grade: 12 (Answer Book)

QUESTION: 2
LAYSANO LTD

2.1.1. RETAINED INCOME

NMM/March/2023

Balance onji-March 2021

Ordinary share dividends

Balance on 28 February 2022

10

2.2. LAYSANO LTD

2.2.1 COMPLETE LIABILITIES SECTION OF THE BALANCE SHEET

SHAREHOLDERS' EQUITY

Ordinary share capital

6 670 000

Retained income

NON-CURRENT LIABILITIES

CURRENT LIABILITIES

Trade and other payables

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES

9 534 500

20

TOTAL
MARKS

30

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### Page 9

Qownloaded from Stanmorephysics.com
<4 education

Lefapha la Thuto la Bokone Bophirima
Noord-Wes Onderwys Departement
North West Education Department
NORTH WEST PROVINCE

corner

Thelesho Tawana and

Modiri Molema Road
Montshioa

Tel.: (018) 384-6007

e-mail: mmojafi@nwpg.gov.za
e-mail: nduiker@nwpg.gov.za

OFFICE OF THE-SUB-DISTRICT MANAGER: MAHIKENG SUB-DISTRICT OFFICE

NGAKA MODIRI MOLEMA DISTRICT

ACCOUNTING P 1
ACADEMIC YEAR 2023

GRADE 12 |

This marking guideline consists of 3 pages only

### Page 10

Rawintogded from Stanmorephysics.com NMM/March/2023
Grade: 12 (Marking guideline)
QUESTION: 1
ACCOUNTING CONCEPTS:
1.1 Y
1.1.1 S
a2 | ip
113 [2~
1.1.4 Av
v
1.1.5 B 5
ACCOUNTING EQUATION:
1.2 ACCOUNT ACCOUNT
NO. DEBITED CREDITED AMOUNT ° L
Ordinary share
v
1.2.1 | Bank ¥ capital 750 000 v + |0*
Ordinary share
v v - v
1.2.2 capital “ Bank 160 000 O*
Retained income Y | Bank v 40 000 vv - |0
1.2.3 | Income tax v SARS Income | 799 goo ~ jaev Was
tax v
“one mark per line, accept blank as 0"
TOTAL
MARKS
20

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### Page 11

Rawintogded from Stanmorephysics.com NMM/March/2023
Grade: 12 (Marking guideline)

QUESTION: 2

LAYSANO LTD

2.1.1. RETAINED INCOME

Balance onj=March 2021 balancing figure 1101 200 M1

Net profit aftétitax 356 300 v

Repurchases of shares (40 000 vx 0.50 “) (20 000) M1

Ordinary share dividends (345 000) v

Interim 207 000 v

Final balancing figure 138 000 MI

Balance on 28 February 2022 — check 2.2.1 1092 500 M1 10

2.2. LAYSANO LTD

2.2.1 COMPLETE LIABILITIES SECTION OF THE BALANCE SHEET

SHAREHOLDERS' EQUITY balancing figure 7 762 500 MI
Ordinary share capital 6 670 000
Retained income SE-OSC balancing figure 2 1092 500 MI
NON-CURRENT LIABILITIES 1025 075
Loan/ Mortgage bond
(1 159 000 VY — (121 750 VM x 1,1 ¥ OR + 12 175)
1 280 750 — 1 159 000 two marks 1025 075 41
264 000 — 142 250 two marks 5
CURRENT LIABILITIES (1 792 620 = 2.4) 746 925 vv
Trade and other payables balancing figure
(428 000 ¥ + 24 300%) 452 300 M1
Shareholders for dividends# (345 000 — 207 000) 138 000 vv
SARS Income tax 4152 700 Vv — 130 000 v) 22 700 M
or 356 300 x 30/70 ** If -130 000
SARS:IT can be calculated independent of the SOCI; must be CL
Check if Income Tax in SOCI is greater or less than 130 000
Current portion of loan# see loan above 13 133 925
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 9 534 500

20

-1F foreign items (max -2)

For misplaced items mark workings
only TOTAL
-1 P max (if no, or inappropriate MARKS
details)

30

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