Accounting Memo 1 (English)

May-June 2024 โ€” Grade 12 / Matric โ€” Accounting

Memo 2024 Grade 12 English Accounting Hub โ†’
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๐Ÿ“‹ Document Analysis

๐ŸŽฏ 150 marks ๐Ÿ“„ 10 pages ๐Ÿ“ 24 items found ๐Ÿ“š 5 topics
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Questions โ€” A Preview of What to Expect in the Document

24
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Q1โ€” Section header โ€”
1.1FIXED ASSETS (i\ Calculate: Cost price of buildings at the beginning of the year WORKINGS ANSWER 9 421 300
1.2
1.3STATEMENT OF FINANCIAL POSITION ON 29 FEBRUARY 2024 ASSETS NON CURRENT ASSETS 10 377 480 Fixed assets 9 952 480 Investment: Fixed deposit
Q2โ€” Section header โ€”
2.1.1Liquidity
2.1.2Outflow
2.1.3Inflow
2.2RETAINED INCOME NOT *one part correct Balance at the beginning of the year 2 819 000 Net profit after tax (1 950 000 x 70/30\ OR 6
2.4Calculate the following financial indicators for the financial year ended 29 February 2024: Acid test ratio WORKINGS ANSWER [9 623
2.4All calculations deemed as Numerators and denominators must be marked as such. Do not award marks for any operations done to stand alone figures e.g. no tick if anything else added to R3 408 000 or R4
Q3โ€” Section header โ€”
3.2Comment on the operating efficiency of the company over the past two years. Quote TWO financial indicators. TWO financial indicators figures and trends % operating expenses on sales improved dec
3.3.1One of the shareholders cannot understand why the debt equity ratio increased in 2024 despite the increase in the loan. Provide an explanation for him. Reason The company increased the share capital
3.3.2The chief financial officer (CFO\s of the opinion that the increase in loan was a good decision. Apart from the debt equity ratio, provide TWO points to support his opinion including ONE relevant financial
3.4.1Comment on whether the shareholders should be satisfied with the return on their investment. Provide TWO points, including ONE relevant financial indicator. Financial indicator figures and trend Explanation (compare alternative investment\
3.4.2Comment on the earnings per share (EPS\and explain its impact on the dividend pay out policy adopted by directors. EPS: figures and trend Explanation on EPS DPR: figures and trend
3.5Comment on the performance of the share price on the stock exchange (JSE\rovide TWO points, with figures and trends. POINT 1 The market price of th e share improved from 1 342c to 610c
3.6.2The company plans to issue additional new shares equal to 20% of the issued share capital, in the next financial year to existing shareholders. Allan has indicated that he will not take up this offer. Explain how this decision will affect his
3.7Apart from the points provided above, state TWO different factors that will influence shareholders to vote in favour of approving such bonuses. Any TWO valid points Pa rt marks for incomplete or unclear response
Q4โ€” Section header โ€”
4.1The three Board members implicated in this case each own 150 000 shares. Calculate the loss that Loma and the two directors were able to each avoid by selling their shares on 13 April 2023. WORKINGS ANSWER
4.2Explain why the text message is so important to the investigators. Any valid point
4.3Explain how the rapid decline in the share price and the fraudulent financial statements are likely to affect the existing shareholders and its workers. art marks for incomplete or unclear response Existing

Topics Identified

5
VATDepreciationBudgetingFinancial StatementsCompanies

Mark Allocation

Total150 marks

Paper information

SubjectAccounting
Year2024
SessionMay-June
TypeMemo
PaperPaper 1
LanguageEnglish
Pages10
Downloads6

Examination context

Decade2020s
Years ago2y
Seasonโ€”
Start dayโ€”
Exam periodโ€”
Days since examโ€”

About Accounting examination preparation

Grade 12 Accounting tests bookkeeping, financial statements, and interpretation of corporate data. Paper 1 covers VAT and manufacturing accounts, while Paper 2 tests partnerships and corporations.

Every available Grade 12 Accounting past paper and memorandum is collected in the Accounting hub at accounting.freemode.co.za โ€” browse all years, sessions and languages in one place.

How to use this resource for revision

A past examination paper is most useful when it is treated as an active revision exercise. Try the questions yourself before checking the corresponding memorandum. Where you make an error, identify the reason โ€” was it a knowledge gap, a calculation mistake, an interpretation issue, or an examination technique problem?

For stronger examination practice, complete the paper without unnecessary interruptions and keep track of the questions that take the most time. Afterwards, review the memorandum and separate knowledge gaps from mistakes caused by interpretation, calculation, structure, or examination technique.

accurate accounting calculations
interpreting financial information
applying accounting principles
presenting structured answers
checking numerical accuracy

A practical revision approach

Accounting rewards presentation discipline โ€” the memorandum allocates method marks on a per-line basis. Keep working papers neat, label every calculation, and never skip a step.

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Corresponding examination paper

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Accounting Paper 1 (English) โ†’

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