This is the Accounting Grade 12 Paper 1 June examination from Gauteng, to be completed in 2 hours. Question 1 uses the company Sekwati Limited, worth 50 marks over 40 minutes, to test the preparation of the Statement of Comprehensive Income and the Equity and Liabilities section of the Statement of Financial Position for the financial year ended 28 February 2026.
The following document, Accounting Grade 12 Paper 1 Term 2 Exam.pdf, is the full document.
Term 2 Content Brief
Accounting Grade 12 Paper 1 Term 2 Exam PDF EUI-038
Key terms covered include the Statement of Comprehensive Income, the Statement of Financial Position, equity and liabilities, and the Financial Indicator Formula Sheet.
The paper consists of 10 pages plus a formula sheet and a 9 page answer book. Question 1, worth 50 marks over 40 minutes, covers company financial statements, including the Statement of Comprehensive Income and the Equity and Liabilities section of the Statement of Financial Position.
By the end of this paper, learners should be able to prepare a Statement of Comprehensive Income for a company and complete the Equity and Liabilities section of the Statement of Financial Position using given balances and adjustments.