Accounting Grade 12 Class Test on Income Statement, Notes, Ratio Analysis, and Audit:

This is for Accounting Grade 12 subject. The Accounting Grade 12 Class Test on Income Statement, Notes, Ratio Analysis and Audit study content will help you with your Accounting Subject Revisions, Tests, Exams, and Assignments.

Accounting Grade 12 focuses on measuring performance, and processing and communicating financial information about economic sectors. This discipline ensures that principles such as ethical behaviour, transparency and accountability are adhered to. As a Grade 12 Accounting student, you will be dealing with the logical, systematic and accurate selection and recording of financial information and transactions, as well as the compilation, analysis, interpretation and communication of financial statements and managerial reports for use by interested parties.


You are provided with information from the books of Govender Ltd. The financial year ended on 30 June 2019.  

  1. Prepare the Income Statement for the year ended 30 June 2019.
  2. Prepare the Trade and Other Receivables note.
  3. Calculate the following financial indicators on 30 June 2019:
    • Percentage net profit on turnover
    • Debt-equity ratio

4. The board of directors wants to acquire an additional loan to fund expansions within the company. Comment on why you think this is a good idea or not. Quote TWO financial indicators (with figures) to support your opinion

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Below you can download the Accounting Grade 12 Test with Answer Book and Memo (Marking Guideline)

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