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    Exam Equiv 2024 June - Ab

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    olwethulethukuthula70

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    Exam Equiv 2024 June - Ab

    Uploaded by

    olwethulethukuthula70
    26 views11 pages

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    Copyright:

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    Download as pdf or txt
    26 views11 pages

    Exam Equiv 2024 June - Ab

    Uploaded by

    olwethulethukuthula70

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 11

    Accounting P1 1 FS/June 2024

    Answer book

    JUNE TEST, MAY 2024


    GRADE 12
    ACCOUNTING P1 & 2

    SURNAME:

    NAME: _

    SCHOOL:

    QUESTION MARKS MARKER MODERATOR

    1 45

    2 40

    3 35

    4 30

    TOTAL 150

    This answer book consists of 10 pages.


    QUESTION 1

    1.1
    1.1.1
    1.1.2
    1.1.3
    1.1.4
    4

    MAZIBUKO MANUFACTURERS

    Calculate: Value of the closing stock of raw materials


    Workings Answer
    4

    Calculate: Value of direct/raw materials issued for production


    Workings Answer

    Calculate: Correct factory overhead costs


    Workings Answer

    746 670
    6

    1.2.2 Production Cost Statement for the year ended 31 March 2024.

    Direct labour cost

    Prime cost

    Total manufacturing costs


    Work-in-process at beginning of year 147 500

    Cost of production of finished goods 12


    Accounting: Grade 12 3 June 2024
    Answer book

    1.2.3 Give TWO reasons why the business should support local suppliers.

    Reason 1:

    Reason 2:
    2

    1.3.BREAK-TIME MANUFACTURERS

    1.3.1 Calculate the direct labour cost for the year ended 30 April 2024
    Workings Answer

    Calculate the break-even point for the year ended 30 April 2024
    Workings Answer

    1.3.2 Explain why the owner should be concerned about the break-even point.
    Quote figures.

    1.3.3 Explain why the owner would NOT be satisfied with the direct labour cost
    per unit. Quote figures.

    3
    Give ONE solution to this problem.

    TOTAL MARKS

    45

    Copyright reserved Please turn over


    Accounting: Grade 12 4 June 2024
    Answer book
    QUESTION 2

    2.1 Note for Ordinary Share Capital on 29 February 2024

    600 000 Ordinary shares at the beginning

    200 000 New shares issued

    Shares at the end of the year 7 875 000

    2.2 Cash generated from Operations

    Net profit before tax


    Depreciation
    Interest expense
    Profit before changes in working capital
    Net change in working capital
    Increase in inventories (83 300)

    Cash generated from operations

    2.3.1 CASH FLOW FROM OPERATING ACTIVITIES


    Cash generated from operations
    Interest paid
    Income tax paid

    Dividends paid

    Copyright reserved Please turn over


    Accounting: Grade 12 5 June 2024
    Answer book

    2.3.2 CASH FLOW FROM FINANCING ACTIVITIES

    2.3.3 NET CHANGE IN CASH AND CASH EQUIVALENT

    Calculate the following financial indicators on 29 February 2024:


    2.4.1 Debt: Equity ratio
    WORKINGS ANSWER

    2.4.2 % Return on average Shareholders' Equity


    WORKINGS ANSWER

    TOTAL MARKS

    40

    Copyright reserved Please turn over


    Accounting: Grade 12 6 June 2024
    Answer book

    QUESTION 3

    3.1 The company’s total sales increased from 2023 to 2024 and the
    operating activities have been better controlled in 2024.
    Quote TWO financial indicators, which indicate better control over
    operating activities.

    4
    Quote and explain ONE relevant indicator with a figure, which directly
    contributed to the increase in sales.

    3.2 Identify TWO financial indicators , which indicate a decline in the


    liquidity of the company.

    3.3 The directors decided to increase the loan at the beginning of 2023.
    Explain why you agree with their decision. Quote TWO financial
    indicators with trends.

    Copyright reserved Please turn over


    Accounting: Grade 12 7 June 2024
    Answer book

    3.4 Some shareholders buy shares in companies as a short-term


    investment while others do it as a long-term investment.
    Explain how the change in the dividend pay-out policy affected the
    investment choices of each type of shareholder. Provide comparative
    figures.

    Short-term
    shareholders

    Long-term
    shareholders

    Copyright reserved Please turn over


    Accounting: Grade 12 8 June 2024
    Answer book

    3.5 Shareholders are divided on the price paid for the re-purchase of shares.

    Provide ONE point in support of and ONE point against the price paid
    for shares. Quote ONE financial indicator with figures for each point.

    In support of the
    price paid

    Against the price


    paid

    3.6 The directors of the company decided to issue an additional 50 000


    shares in the new financial year.

    Calculate the minimum number of shares K. Jardim must buy to become


    a majority shareholder.

    5
    Mention ONE point why K. Jardim wants to become a majority
    shareholder.

    TOTAL MARKS

    35

    Copyright reserved Please turn over


    Accounting: Grade 12 9 June 2024
    Answer book
    QUESTION 4

    4.1.1 Calculate the value of the closing stock of bicycles on 31 May 2024.
    Workings Answer
    Tempo
    Cruze
    Ryder

    10
    Calculate the cost of sales for the year ended 31 May 2024.
    Workings Answer

    5
    Calculate the gross profit for the year ended 31 May 2024.
    Workings Answer

    4.1.2 Calculate the selling price of a Ryder bicycle.


    Workings Answer

    Calculate the average number of Ryder bicycles sold per month.


    Workings Answer

    Indicate how long it will take Fred to sell the closing stock of the Ryder
    bicycles. Show calculations.
    Workings Answer

    Copyright reserved Please turn over


    Accounting: Grade 12 10 June 2024
    Answer book

    Give ONE possible reason for the slow sales of Ryder bicycles.

    Give advice (ONE point) to Fred in this regard.

    TOTAL MARKS

    30

    Copyright reserved
    Accounting: Grade 12 11 June 2024
    Answer book

    Copyright reserved Please turn over

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