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Accounting P1 Nov 2023 Answer Book Eng
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Accounting P1 Nov 2023 Answer Book Eng
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STICKERCENTRE NUMBER
EXAMINATION NUMBER
NATIONAL SENIOR
CERTIFICATE ACCOUNTING P1
GRADE 12
NOVEMBER 2023
SPECIAL ANSWER BOOK
QUESTION MARKS INITIAL MOD.
1
2
3
4
TOTAL
This answer book consists of 10 pages.
Copyright Please turn
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, Accounting/ 2 DBE/November
P1 NSC – Answer 2023
QUESTION 1
1.1 Calculate the value of closing stock of bicycles using the FIFO method.
WORKINGS ANSWER
1.2 Statement of Comprehensive Income for the year ended 6
28 February 2023
Sales 21 017 200
Cost of sales
Gross profit
Other income
Bad debts recovered
Sundry income
Gross operating income 12 254 100
Operating expenses
Salaries and wages
Depreciation
Sundry expenses
Operating profit 4 150 300
Interest income
Profit before interest expense
Interest expense
Net profit before tax 3 737 250
Income tax (1 152 000)
Net profit after tax 2 585 250
24
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