Accounting Grade 12 Paper 2 FS Prelim 2022 Addendum

Downloaded from hlayiso.com SCHOOL: __________________________________________________________ LEARNER: _________________________________________________________ PREPARATORY EXAMINATION GRADE 12 ACCOUNTING P2 SEPTEMBER 2022 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MODERATOR 1 2 3 4 TOTAL This answer book consists of 12 pages. Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 2 FS/September 2022 Grade 12 Prep. Exam. Answer book QUESTION 1: 1.1.1 Calculate the VAT amount payable to/receivable from SARS on 30 June 2022. 11 1.2.1 COMPLETE THE CRJ AND CPJ: Cash Receipts Journal Cash Payments Journal (figures only) (figures only) 11 Bank balance on 30 June 2022: 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 3 FS/September 2022 Grade 12 Prep. Exam. Answer book 1.2.2 Prepare the Bank Reconciliation Statement on 30 June 2022 Debit Credit 9 1.2.3 Refer to Information H. Explain why the internal auditor would be concerned and what actions should be taken. Provide TWO points. Problem Action 4 TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 4 FS/September 2022 Grade 12 Prep. Exam. Answer book QUESTION 2 2.1.1 FACTORY OVERHEAD COST NOTE Factory foreman salary 102 400 Sundry expenses 47 040 9 2.1.2 Production Cost Statement for the year ended 28 February 2022. Prime cost 1 380 000 Total manufacturing cost Work in progress in the beginning 35 100 Work in progress at the end of the year 12 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 5 FS/September 2022 Grade 12 Prep. Exam. Answer book STYLE MANUFACTURERS 2.2.1 Calculate the break-even point for laptop bags WORKINGS ANSWER 4 Comment on whether Helen should be satisfied with the break- even points and levels of production for the past two years. Quote figures to support your opinions. 4 2.2.2 Identify ONE variable cost for each item, that would be of concern to Helen. Quote figures. Provide ONE possible reason for the problem, in each case. ONE VARIABLE COST WITH REASONS FIGURES LAPTOP BAGS LUGGAGE BAGS 6 2.2.3 Helen was concerned about the increase in the fixed cost per unit of luggage bags. What would you say to her? Provide ONE point and quote figures to support your answer. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 6 FS/September 2022 Grade 12 Prep. Exam. Answer book 2.2.4 Helen feels that she can improve the sales of luggage bags. Provide TWO suggestions on how this can be achieved. Quote figures.: 4 2.2.5 Assume that costs and workers’ efficiency will remain unchanged in 2022. If production and sales of luggage bags increased by 500 units, calculate how much additional profit she can expect. 4 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 7 FS/September 2022 Grade 12 Prep. Exam. Answer book QUESTION 3 GOLF BALLS 3.1.1 Calculate the value of closing stock on 30 April 2022. WORKINGS ANSWER 6 The stock holding period in days using the closing stock. WORKINGS ANSWER 4 GOLF CLUBS 3.1.2 Calculate the value of closing stock on 30 April 2022. WORKINGS ANSWER 7 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 8 FS/September 2022 Grade 12 Prep. Exam. Answer book LEO APPLIANCES 3.2.1 Leo Appliances changed his supplier. Do you agree with the decision? Explain and provide figures. 3 3.2.2 Explain the decision with figures that Leo took regarding the selling price of the microwave ovens and explain the effect of this decision? State TWO points. Decision with figure Effect on the business 6 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 9 FS/September 2022 Grade 12 Prep. Exam. Answer book 3.2.3 Leo significantly reduced the selling price of frying pans in the 2022 financial year. Explain why Leo found it necessary to do this. Provide TWO separate suggestions to Leo on how to improve the profit on frying pans in 2022. Suggestion 1 (with figures): Suggestion 2 (with figures): 4 TOTAL MARKS 30 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 10 FS/September 2022 Grade 12 Prep. Exam. Answer book QUESTION 4 FERNANDES TRADERS 4.1.1 Debtors' Collection Schedule MONTH CREDIT SALES SEPTEMBER OCTOBER JULY 126 000 6 300 AUGUST 131 400 72 270 6 570 SEPTEMBER 133 200 53 280 OCTOBER 136 800 CASH FROM DEBTORS 131 850 4 4.1.2 Calculate the missing amounts indicated by (a)–(e) on the Cash Budget. WORKINGS ANSWER (a) (b) (c) (d) (e) 15 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 11 FS/September 2022 Grade 12 Prep. Exam. Answer book 4.1.3 Refer to information G: Comment on how the online sales have affected the actual cash and credit sales in August. Quote figures or calculations. 4 Refer to information H: Identify TWO other costs already in the budget that were affected by the decision to go online and explain whether they were well controlled or not. Quote figures or calculations. 4 Provide ONE point that he should consider to manage online sales as a permanent feature. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 12 FS/September 2022 Grade 12 Prep. Exam. Answer book 4.1.4 Calculate the cost price of the new delivery vehicle. WORKINGS ANSWER 4 List TWO other cost related to the vehicle that Claudio will have to include in the budget. Figures are not required 2 TOTAL MARKS 35 TOTAL: 150 Copyright reserved Please turn over