Accounting Memo 1 (English)

November 2017 — Grade 12 / Matric — Accounting

Memo 2017 Grade 12 English Accounting Hub →

↓ Download PDF 📄 468.9 KB View Exam Paper

Preparing document

📋 Document Analysis

🎯 300 marks 📄 17 pages 📝 49 items found 📚 8 topics

See full analysis

Questions — A Preview of What to Expect in the Document

This section provides a quick preview of questions from the document. It may not display every question or the complete wording of each one. For the full content, including diagrams, tables and other information, view the original PDF above.

1.1.1False

1.1.2False .1.3 True .2.1 Calculation of CRJ total Calculation of CPJ total 90 500 85 920 9 750

1.2.3Explain the problem relating to deposits . Quote evidence. Valid explanation Evidence Expected responses Deposi ts are not being done promptly / Late deposits (leads to cash flow

Q2— Section header —

2.1GEVEN MANUFACTURERS

2.1.1PRODUCTION COST STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2017 Direct material cost (1 050 000 + 102 000 1 152 000 Direct labour cost

2.1.2ABRIDGED INCOME STATEMENT FOR YEAR ENDED 28 FEBRUARY 2017 Sales 4 080 000 See TCP 2.1. 400 x R330 Cost of sales

2.2GYMWEAR MANUFACTURERS

2.2.1

2.2Shoes Calculate the % increase in the selling price of shoes. OR 130,2% 100%= 30,2% 1 260 = 30,2% one part correct

Q3— Section header —

3.1Calculate the carrying value of Land and Buildings on 1 March 2016. 550 000 325 000 = 2 225 000 no part marks Calculate the t otal depreciation on vehicles on 28 February 2017

3.2BALANCE SHEET OF ODETTE LTD ON 28 FEBRUARY 2017 Placement pr esentation 1 if marks earned in each case ASSETS NON CURRENT ASSETS (TA

3.3AUDIT REPORT As a shareholder what concerns would you have regarding this audit report? Explain THREE points. Any t hree different valid points Part

Q4— Section header —

4.1.1Directors

4.1.2Internal auditor

4.1.3Shareholder

4.1.4External auditors

4.2FINE

4.2.1ORDINARY SHARE CAPITAL AUTHORISED SHARE CAPITAL 1 200 000 ordinary shares ISSUED SHARE CAPITAL Ordinary shares on 1 September 2016 Balancing figure check that repurchase added back and issue deducted back

4.2.2FINE LTD: CASH FLOW STATEMENT FOR YEAR ENDED 31 AUGUST 2017 If a working is shown as a final answer, award working mark only if brackets correctly applied for that item If item is incorrectly placed, award no marks for details or figures

4.2.3Calculate the ercentage operating profit on sales 697 000 x 100 = 8,1% one part correct % sign not necessary 8 652 000 Calculate the

4.2.4Calculate the dividends per share (DPS\ of a shareholder who owned the same number of shares for the entire financial period. 000 + 150 000 (168 000 050 000

4.3CASTRO LTD

4.3.1Comment on the price of R9,10 charged by Castro Ltd for the new shares issued Compare issue price to market price or NAV Part marks for partial or incomplete explanation Figures R12,00 or R10,73 Could quote differences e.g. R2,90 or R1

4.3.2Explain how the issue of new shares has affected the financial gearing and risk of Castro Ltd. Quote TWO financial indicators. Explanation Financial indicators Figures Superfluous indicators (i.e. more than two indicators\

4.3.3If Henry wanted to retain his 60% shareholding in the company, how many shares would he have to buy? one part correct (700 000 x 60%\ (500 000 x 60%\ = 120 420 000 300

4.3Comment on the liquidity of Ronki Ltd. Quote TWO financial indicators. Explanation: Superfluous indicators (i.e. more than two indicators The liquidity

4.3.5Comment on the price paid by Ronki Ltd for the repurchase (buy back\ of shares. Expected response Part marks for partial or incomplete explanation

4.3.6Explain THREE ways in which Henry has benefited from the repurchase of the shares by Ronki Ltd. Explanation Figures Expected responses: Three different responses He has now become a majority shareholder. His 300

Q5— Section header —

5.1CONCEPTS

5.1.1Weighted average / WA

5.1.2Perpetual

5.1.3First first FIFO

5.1.4Expense

5.2HOT WHEELS (PTY\ LTD Motorbikes:

5.2.1Calculate the value of the closing stock September 2017 using the specific identification method. 000 600 252 800 = 605

5.2.2Mike requires your advice on the three different models of motorbikes in which he is trading. Explain TWO points of advice. Any TWO valid points of advice Part marks for unclear/ incomplete explanation

5.2Calculate the value of the closing stock September 2017 using the weighted average method Mark one line only choose line to benefit candidate 675 four marks two marks

5.2Is the weighted average method appropriate to value the helmets? Explain ONE point. Yes/No Explanation Part

2.5Mike suspects that helmets are being stolen from the shop despite using security camera Provide a calculation to verify his suspicion. (30 + 75 100 = 3 helmets missing

Q6— Section header —

6.1Explain the m ain purpose of a Cash Budget Explanation To predict the cash balance cash flow for a period To project / plan / forecast receipts and payments.

6.2Larry expects debtors to settle accounts by the end of the month following the sales transaction month. Use the November figures calculate the % of debtors that are expected to comply with the credit term

6.2.2Larry does not believe that his debtors control c lerk, Shirley, deserves a bonus on 31 October 2017. Provide evidence to support his opinion. Explanation (calculation / figures\ from the Age Analysis

6.3.1Calculate the fixed % of sales used by Larry to budget for delivery expenses 4% % sign not needed Calculate the amount of the loan to be repaid on 31 December 2017 Mark one line only choose line to benefit candidate

6.3.2Refer to variances in Information D. Explain why Larry would feel that all these variances are problems for his business. Figures not required Part marks for unclear/ incomplete explanation COMMENT ON VARIANCES

Topics Identified

VATDepreciationInventoriesManufacturingBudgetingFinancial StatementsCompaniesDebtors Control

Mark Allocation

Total90 marks

Paper information

SubjectAccounting

Year2017

SessionNovember

TypeMemo

PaperPaper 1

LanguageEnglish

Pages17

Downloads3

Examination context

Decade2010s

Years ago9y

SeasonSpring (SH)

Start daySunday

Exam periodNovember 2017

Days since exam3,276

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 — 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 — 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 — the memorandum allocates method marks on a per-line basis. Keep working papers neat, label every calculation, and never skip a step.

Grade 12 subject hubs

Each matric subject has its own dedicated hub on Freemode with every past paper and marking memorandum we have archived for that subject.

➗ Mathematics View papers → 📊 Mathematical Literacy View papers → ⚗️ Physical Sciences View papers → 🧬 Life Sciences View papers → 📒 Accounting 📍 You are here 💼 Business Studies View papers → 📈 Economics View papers → 🌍 Geography View papers → 🏛️ History View papers → 📖 English View papers → 🇿🇦 Afrikaans View papers → 🗣️ IsiNdebele View papers → 🗣️ IsiXhosa View papers → 🗣️ IsiZulu View papers → 🗣️ Sepedi View papers → 🗣️ Sesotho View papers → 🗣️ Setswana View papers → 🌾 Agricultural Sciences View papers →

Corresponding examination paper

Examination paper available

Open the corresponding examination paper to practise the questions before reviewing the marking memorandum on this page. Attempt every question under timed conditions for the most realistic preparation.

Accounting Paper 1 (English) →

File details

File size468.9 KB

Pages17

Archived on7 September 2026

File age47d

ContributorFreeMode

Fingerprint6A9E3BBA407C

Questions and learner discussion

No questions or discussions have been posted yet.