# Accounting Paper 1, November 2024 > Practise 30 questions (150 marks) from Grade 12 Accounting Paper 1 November 2024. Answer any one and see it marked mark by mark, like the exam. Canonical: https://sharpkop.co.za/accounting/2024-nov-p1/ Last updated: 2026-11-12 30 questions in this paper. Answer any one and see it marked mark by mark. ## Every question - [1.1.1 (2 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-1-1/): Calculate the depreciation on equipment for the year ended 28 February 2025, using the fixed asset information provided. - [1.1.2 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-1-2/): Calculate the cost price of vehicles on 31 August 2024. - [1.1.3 (5 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-1-3/): Calculate the total depreciation on vehicles for the year ended 28 February 2025. - [1.1.4 (5 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-1-4/): Calculate the profit or loss on the vehicle that Lotus Bay Ltd traded in on 1 October 2023. Use the information provided. - [1.2(a) (8 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-2-a/): Calculate the sales and the gross profit that Protea Ridge Ltd must show in its Statement of Comprehensive Income. - [1.2(b) (10 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-2-b/): Calculate the total other income that Protea Ridge Ltd must show in its Statement of Comprehensive Income. - [1.2(c) (13 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-2-c/): Calculate the total operating expenses that Protea Ridge Ltd must show in its Statement of Comprehensive Income. - [1.2(d) (8 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q1-2-d/): Show the last part of the Statement of Comprehensive Income of Protea Ridge Ltd, from operating profit down to net profit after tax. - [2.1 (8 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q2-1/): Draw up the note showing the movement in retained income of Kopano Traders Ltd for the year ended 31 March 2025. - [2.2(a) (8 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q2-2-a/): Calculate the taxation paid and the dividends paid that Mvubu Ltd must show in the operating activities section of its Cash Flow Statement. - [2.2(b) (9 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q2-2-b/): Calculate the amounts that Mvubu Ltd must show in the financing activities section of its Cash Flow Statement. - [2.3.1 (3 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q2-3-1/): Calculate the operating expenses as a percentage of sales for the year ended 31 August 2024. - [2.3.2 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q2-3-2/): Calculate the stock turnover rate of Lindani Traders for the year ended 28 February 2025. - [2.3.3 (3 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q2-3-3/): Calculate the interim dividend per share, in cents, for the year ended 31 August 2025. - [3.1 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-1/): Give TWO indicators from the profitability information that show Kopano Ltd is keeping its costs under control. - [3.2 (3 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-2/): Comment on the change in the company’s dividend pay-out policy between the two years. Explain why this change is a responsible decision. - [3.3 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-3/): Comment on whether the shareholders of Karoo Fresh Ltd should be satisfied with the earnings per share (EPS) and the return on average... - [3.4.1 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-4-1/): The directors of Lumka Traders Ltd bought additional fixed assets during the 2025 financial year. - [3.4.2 (6 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-4-2/): The directors of Mkhize Traders Ltd bought extra equipment during 2024 and paid for part of it with a new loan. - [3.5.1 (3 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-5-1/): Thandi Mokoena owned 840 000 of the 2 000 000 shares that Zulu Traders Ltd had in issue on 1 April 2024. - [3.5.2 (5 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-5-2/): Calculate Peter’s percentage shareholding in the company after the rights issue was completed. - [3.5.3 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-5-3/): Calculate the total amount that Grant Waters paid for the shares he received through the rights issue. - [3.5.4 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-5-4/): Refer to the information given. Mr Sipho Dlamini, the majority shareholder, plans to ask the board to buy back some of his shares in the... - [3.6.1 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-6-1/): Shareholders appoint a chief executive officer (CEO) to run the company on their behalf. - [3.6.2 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q3-6-2/): The shareholders are pleased with the work of the CEO. Apart from the points already made about profit and dividends, identify and... - [4.1 (2 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q4-1/): Explain the role of an independent external auditor of a company. Give ONE point. - [4.2 (2 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q4-2/): Rand Valley Ltd received a/an (qualified / unqualified / disclaimer of opinion) audit report. - [4.3 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q4-3/): Name TWO types of evidence that the auditor would look at to confirm that the property, plant and equipment of Thabo Traders Ltd are... - [4.4 (4 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q4-4/): Explain what this auditor’s report means for each of the following groups. Give ONE point for each group: the directors and the... - [4.5 (3 marks)](https://sharpkop.co.za/accounting/2024-nov-p1/q4-5/): The directors of Ridgeway Holdings Ltd pressured the company’s independent external auditor to knowingly issue an untrue audit report to... ## Related - [Grade 12 Accounting past papers](https://sharpkop.co.za/accounting/) Questions are based on National Senior Certificate papers set by the Department of Basic Education. 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