Accounting Grade 12 Paper 2 KZN June 2022 Addendum

Downloaded from hlayiso.com CE EDUCATION REPUBLIC OF SOUTH AFRICA ( GRADE12 ] NATIONAL SENIOR CERTIFICATE ,..�-------- -------- - --- - ---------- --- - ------- -�•' II 11 ACCOUNTING P2 11 II II II II II II II II II II II II II II II II .., II COMMON TE ,. 11 �9• •----- --------- ---- !!!!!!!!�� II Name: ---------------------- Grade: --- MOD BY THE MOD BY THE MOD BY THE QUESTION MARKS SCHOOL CLUSTER PROVINCE 1 2 3 TOTAL This answer book consists of 10 pages. Co ri ht Reserved Please turn over

Downloaded from hlayiso.com NSC — Answer book QUESTION 1 1.1 DEBTORS RECONCILIATION 1.1.1 1.1.2 Calculate the correct balance of the Debtors Control Account and the Copyright Reserved Mention TWO actions that the bookkeeper must follow when he/she discovers differences between the Debtors Control Account and the Debtors List. Debtors List by completing the table provided. DEBTORS CONTROL ACCOUNT 11 020 () (ii) (iii) (iv) DEBTORS LIST: Show the adjustment amount next to each debtor. M. Malinga (4 510 D. Zondi (3 270 P. Mshibe ( 940 M. Tuko (2 230 11 Please turn over

Downloaded from hlayiso.com Accounting P2 3 Common Test June 2022 NSC — Answer book 1.2 | DEBTORS’ AGE ANALYSIS 1.2.1 | Explain why you would be concerned about the management of debtors in this business. Quote relevant figures in your answer. 2 1.2.2 | Provide TWO internal control measures that the business can use to improve the collection of money from debtors. 4 Copyright reserved Please turn over

Downloaded from hlayiso.com ACCOUNTING 2 4 NSC — Answer book vuln Poot vuriG 2uee 1.3 CREDITORS' RECONCILIATION 1.3.1 Reconcile the Creditors Ledger account of ZZ Suppliers in the books of Masiya Traders with the statement received. Commence with the opening balances as provided in the ANSWER BOOK. CREDITORS' LEDGER STATEMENT OF ACCOUNT 47 064 40 271 (i) (ii) (iii) (iv) (v) (vi) 12 1.3.2 | Name TWO benefits of using electronic funds transfer (EFT) system. 2 1.3.3. | State TWO consequences for the business if they do not pay the amount due to creditors on time. 2 TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 5 Common Test June 2022 NSC — Answer book QUESTION 2 2.1 2.1.1 2.1.2 2.1.3 3 2.2.1 Calculate the value of the closing stock for the two stock items: e Cricket Pads (using the FIFO-method): 4 ° Cricket Balls (using the weighted average method). 8 2.2.2 Calculations the following for Cricket Pads: e] Cost of sale 4 e| Gross profit 3 e| Mark up percentage 3 e| Stock holding period in days 4 Copyright reserved Please turn over

Downloaded from hlayiso.com NSC ~ Answer book 2.2.3. The owner suspects that there is no sufficient control over the stock. Provide figures from the information to confirm his suspicious. Show calculations to support your answers. He suspects that the Cricket Pads being sold are not very popular amongst clients. 2 He suspects that Cricket Balls are being stolen. 2.2.4 | Explain TWO changes you would make to the business should you decide to become a partner. Refer to specific information taken from the question for each of the suggested changes. TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 a Common Test June 2022 NSC — Answer book QUESTION 3 3.1 THE SHOE FACTORY 3.1.1 ] Direct Materials Cost 3.1.2 | Factory Overhead Cost 14 Copyright reserved Please turn over

Pweg + Downloaded from hlayiso.com NSC — Answer book 3.1.3 Production Cost Statement on 28 February 2022 12 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting P2 9 Common Test June 2022 NSC — Answer book 3.2 ZONDI’S MANUFACTURERS 3.2.1 | Calculate the break-even point for the year ended 31 May 2022. 3.2.2 | Compare and comment on the break-even point and the production level achieved over the last two years. Quote figures. 3.2.3 Give TWO reasons for the increase in direct material cost. Suggest ONE way to control this cost. TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com NSC — Answer book QUESTION 4 4.1.1 | The management is not satisfied with control and management of fixed assets. Explain THREE internal control measures to be applied to correct the situation. 6 4.1.2 Asset Disposal 10 4,2 | Identify ONE problem in relation to each branch, quoting figures/amounts to support the problem. In each case, offer the owner advice on how to solve the roblem. Branch Comment and figures Advice HLATHI (SIFISO) THOLENI (NOLWAZI) MAQANDA (XOLANI) 9 ae TOTAL MARKS 25 Copyright reserved