Accounting Grade 12 Term 3 September Past Papers and Memos

1. Q1 Fixed Assets and Company Financial Statements(55 marks; 50 minutes)
2. Q2 Cash Flow Statement and Financial Indicators(40 marks; 30 minutes)
3. Q3 Interpretation of Financial Information(40 marks; 30 minutes) 40 marks
4. Q4 Corporate Governance4.1 Match the concepts in COLUMN A with the correct descriptions in COLUMN B. 15 marks

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL the questions.
3. A Financial Indicator Formula Sheet is attached at the end of this question paper.
4. Show ALL workings to earn part-marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer questions.
7. Where applicable, show ALL calculations to ONE decimal point.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. TIME QUESTION TOPIC MARKS (minutes) Fixed Assets and Company Financial 1 55 50 Statements Cash Flow Statement and Financial 2 40 30 Indicators 3 In

1. Q1 Vat and Stock ValuationVan is the owner of Contiki Coffee, a well-known supplier of high-quality roasted and 45 marks
2. Q2 ReconciliationsLizzy is the owner of Lizzy’s Flowers. She allows corporate clients accounts, payable 30 marks
3. Q3 Cost Accounting3.1 Choose the cost category from COLUMN B that matches the example in 40 marks
4. Q4 Budgeting4.1 Answer the following questions by writing the answer(s) next to the question 35 marks

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL the questions.
3. A Financial Indicator Formula Sheet is attached at the end of this question paper.
4. Show ALL workings to earn part-marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer the questions.
7. Where applicable, show ALL calculations to ONE decimal point.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 VAT and Stock Valuation 45 35 2 Reconciliations 30 25 3 Cost Accounting 40 30 4 Budgeting 35 30 TOTAL 150 120

1. Q1 Calculation of Net Profit and Statement of FinancialPOSITION (60 marks; 45 minutes) 60 marks
2. Q2 Cash Flow Statement and Financial Indicators(40 marks; 30 minutes) 40 marks
3. Q3 Interpretation of Financial Information(35 marks; 30 minutes) 35 marks
4. Q4 Corporate GovernanceChoose the audit opinion from COLUMN B that describes the audit report in 15 marks

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL the questions.
3. A Financial Indicator Formula Sheet is attached at the end of this question paper.
4. Show ALL workings to earn part-marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer the questions.
7. Where applicable, show ALL calculations to ONE decimal point.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 Calculation of correct net profit and 60 45 Statement of Financial Position 2 Notes to Financial Statements, Cash Fl

1. Q1 Internal Control and ReconciliationsThe owner of Dlamini Traders is very pleased that all payments are now made 40 marks
2. Q2 Cost AccountingFresh Sip is a South African manufacturing company that manufactures soft 35 marks
3. Q3 InventoryChoose the correct term from those given in brackets. Write only the term next to 35 marks
4. Q4 Budgeting and VatYou are provided with information relating to the cash budget of Fada’s Suit and 40 marks

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL the questions.
3. A Financial Indicator Formula Sheet is attached at the end of this question paper.
4. Show ALL workings to earn part-marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer the questions.
7. Where applicable, show all calculations to ONE decimal point.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 Internal Control and Reconciliations 40 30 2 Cost Accounting 35 30 3 Inventory 35 30 4 Budgeting and VAT 40 30 TOTAL

1. Q1 Calculation of Net Profit and Statement of FinancialPOSITION (60 marks; 45 minutes)
2. Q2 Cash Flow Statement and Financial Indicators(40 marks; 30 minutes)
3. Q3 Interpretation of Financial Information(35 marks; 30 minutes)
4. Q4 Corporate Governance4.1 The following are three types of reports which can be issued after the financial

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL questions.
3. A Financial Indicator Formula Sheet is attached at the end of this question paper.
4. Show ALL workings to earn part-marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer questions.
7. Where applicable, show ALL calculations to ONE decimal point.
8. Write neatly and legibly.
9. 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 (minutes) 1 Calculation of correct net profit and 60 45 Statement of Financial Position Notes to Financial Statements, Ca

1. Q1 ReconciliationsCandy Stores buys goods on credit from Awesome Suppliers. 35 marks
2. Q2 Cost AccountingThe information relates to the financial year ended 28 February 2023. The 40 marks
3. Q3 Inventory Valuation and Vat3.1 Choose a word/term from the list provided for each of the descriptions below. 40 marks
4. Q4 BudgetingThe partially completed Projected Statement of Comprehensive Income was prepared 35 marks

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL the questions.
3. A Financial Indicator Formula Sheet is attached at the end of this question paper.
4. Show ALL workings to earn part-marks.
5. You may use a non-programmable calculator.
6. You may use a dark pencil or blue/black ink to answer the questions.
7. Where applicable, show ALL calculations to ONE decimal point.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 Reconciliations 35 30 2 Cost Accounting 40 30 3 Inventory valuation and VAT 40 30 4 Budgeting 35 30 TOTAL 150 120

1. Q1 Concepts, Statement of Comprehensive Income and Statement of Financial Position(60 marks; 45 minutes)
2. Q2 Financial Indicators, Share Capital Note and CashFLOW CALCULATIONS (40 marks; 30 minutes)
3. Q3 Interpretation of Company Financial Information(35 marks; 30 minutes)
4. Q4 Corporate Governance4.1 The following is an extract from the independent auditor’s report of Xuba Ltd.

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL questions.
3. Show ALL workings to earn part-marks.
4. You may use a non-programmable calculator.
5. You may use a dark pencil or blue/black ink to answer questions.
6. Where applicable, show ALL calculations to ONE decimal point.
7. If you choose to do so, you may use the Financial Indicator Formula Sheet attached at the end of this question paper. The use of this formula sheet is NOT compulsory.
8. Write neatly and legibly.
9. 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 (minutes) Concepts, Statement of 1 Comprehensive Income and 60 45 Statement of Financial Position 2 Financial Indicators,

1. Q1 Inventory Valuation and VatDebra Traders sells electric fans. The business is owned by Deb Fisher. 35 marks
2. Q2 Reconciliations2.1 Indicate whether each of the following statements are TRUE or FALSE. Write only 35 marks
3. Q3 Cost Accounting3.1 Match the concepts in COLUMN A with an example provided in COLUMN B. 40 marks
4. Q4 Budgeting4.1.1 Bad debts will not appear in a cash budget. (1) 40 marks

Instructions to candidates

1. Answer ALL questions.
2. A special ANSWER BOOK is provided in which to answer ALL questions.
3. Show ALL workings to earn part-marks.
4. You may use a non-programmable calculator.
5. You may use a dark pencil or blue/black ink to answer questions.
6. Where applicable, show ALL calculations to ONE decimal point.
7. If you choose to do so, you may use the Financial Indicator Formula Sheet attached at the end of this question paper. The use of this formula sheet is NOT compulsory.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 Inventory Valuation and VAT 35 30 2 Reconciliations 35 30 3 Cost Accounting 40 30 4 Budgeting 40 30 TOTAL 150 120

1. Q1 20% and 15% do not constitute ‘one part correct’
2. Q2 2.1.1 D  Directors Report
3. Q3 3.1.1 Comment on the solvency of the company. Quote ONE financial indicator
4. Q4 4.1.2 External auditors 

1. Q1 Manufacturing1.1 Choose the cost item in the list provided that matches the example below. 45 marks
2. Q2 Debtors' Reconciliation and VatThe information relates to Mamela Traders for September 2020.
3. Q3 Inventory ValuationOn-Time Watches (Pty) Ltd has two shareholders, Lizzy and Patsy Ndou. The 30 marks
4. Q4 BudgetsYou are provided with information of Fantasy Laptops, a business owned by 35 marks

Instructions to candidates

1. Answer ALL questions.
2. A special ANSWER BOOK is provided in which to answer ALL questions.
3. Show ALL workings to earn part-marks.
4. You may use a non-programmable calculator.
5. You may use a dark pencil or blue/black ink to answer questions.
6. Where applicable, show ALL calculations to ONE decimal point.
7. If you choose to do so, you may use the Financial Indicator Formula Sheet attached at the end of this question paper. The use of this formula sheet is NOT compulsory.
8. Write neatly and legibly.
9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 Manufacturing 45 35 2 Debtors' Reconciliation and VAT 40 30 3 Stock Valuation 30 25 4 Budgeting 35 30 TOTAL 150 120

1. Q1 Corporate Governance and Audit Report(15 marks; 10 minutes) 15 marks
2. Q2 Statement of Comprehensive Income(30 marks; 25 minutes) 30 marks
3. Q3 Statement of Financial Position and Share Capital Note(30 marks; 25 minutes) 30 marks
4. Q4 Cash Flow Statement, Financial Indicators(40 marks, 35 minutes) 40 marks
5. Q5 Interpretation of Company Information(35 marks; 25 minutes) 35 marks

Instructions to candidates

1. Answer ALL the questions.
2. A special ANSWER BOOK is provided in which to answer ALL the questions.
3. Show ALL workings to earn part-marks.
4. You may use a non-programmable calculator.
5. You may use a dark pencil or blue/black ink to answer the questions.
6. Where applicable, show ALL calculations to ONE decimal point.
7. A FORMULA SHEET for Financial Indicators is attached to this question paper. You may use it if necessary.
8. Write neatly and legibly.
9. A breakdown of the questions is provided. You must attempt to comply with the suggested time allocation for each question. QUESTION TOPIC MARKS TIME (MINUTES) 1 Corporate governance and audit report 15 10 2 Statement of comprehensive income 30 25 3 Statement o