Accounting Grade 12 Paper 2 MP Prelim 2022 Addendum

Downloaded from hlayiso.com NAME OF SCHOOL NAME OF CANDIDATE CLASS NO. NATIONAL SENIOR CERTIFICATE ACCOUNTING P2 GRADE 12 SEPTEMBER 2022 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 10 pages Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 2 MDE/September 2022 NSC Answer book QUESTION 1 1.1 VAT 1.1.1 Explain why the government in SA made certain goods to be zero-rated. 2 1.1.2 Taking into account the error and omission, calculate the VAT amount that is either payable or receivable from SARS. Answer 8 1.1.3 Explain what you would say to Peter. Provide TWO points. 4 1.2 BANK RECONCILIATION AND INTERNAL CONTROL 1.2.1 Show the entries that must be recorded in the Cash Journals. CASH RECEIPTS JOURNAL CASH PAYMENT JOURNAL Details Amount Details Amount Provisional total R510 600 Provisional total R486 300 8 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 3 MDE/September 2022 NSC Answer book 1.2.2 Calculate the Bank Account balance on 31 July 2022. Answer 4 1.2.3 BANK RECONCILIATION STATEMENT ON 31 JULY 2022 DEBIT CREDIT Balance per Bank Statement Debit outstanding cheques: Balance as per Bank Account 7 1.2.4 Explain whether or not the business made the right decision in alerting the bank about the deposit of R9 800, on 25 July 2022. 2 TOTAL 35 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 MDE/September 2022 NSC Answer book QUESTION 2. 2.1 KRUSH ELECTRONICS 2.1.1 Calculate the value of closing stock according to the FIFO method on 31 July 2022. 5 2.1.2 Calculate the average stock-holding period on 30 June 2022. 4 Provide a calculation to support her concern over the security of the stock. 5 2.1.3 Calculate the value of closing stock according to weighted-average method. 7 2.2 PROBLEMSOLVING 2.2.1 Mention ONE additional control measure that Mbali could consider to improve controls in the branches. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 MDE/September 2022 NSC Answer book 2.2.2 Identify TWO problems (with figures or calculations) relating to the Ermelo Plaza branch and provide a solution in each case. Problem with a figure Solution 4 2.2.3 List THREE decisions taken by Venessa, the manager of Tonga Plaza, which led to much better results than those of the other two branches. Quote figures. 3 TOTAL 30 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 MDE/September 2022 NSC Answer book QUESTION 3 3.1 BAKERS BEE MANUFACTURES 3.1.1 Calculate the direct labour cost on 28 February 2022 Answer 5 3.1.2 Factory overhead cost note on 28 February 2022 12 3.1.3 Production Cost Statement on 28 February 2022 Direct material cost R666 700 Prime cost Total manufacturing cost Work-in-progress on 1 March 2021 R195 000 10 3.2 ENERGIZER MANUFACTURES 3.2.1 Calculate the following for the year ended 30 June 2022: Direct material cost Answer 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 MDE/September 2022 NSC Answer book Break-even point 4 3.2.2 Explain why the owner should be concerned about the break-even point. Quote figures. 3 3.2.3 Explain why the owner would NOT be satisfied with the direct material cost per unit. Quote figures. 3 Apart from changing the supplier to get a cheaper price, provide an alternative solution to this problem. Mention ONE point. 2 3.2.4 Give TWO reasons why this option is not a good idea. 4 TOTAL 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 MDE/September 2022 NSC Answer book QUESTION 4 4.1 Thando is not concerned about the overspending in advertisement. Explain why this is so. Quote figures. 3 4.2 CREDITORS' PAYMENT SCHEDULE CREDIT MONTH OCTOBER NOVEMBER PURCHASES August R60 000 6 000 September R67 500 10 125 October 53 438 November R90 000 69 653 8 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 MDE/September 2022 NSC Answer book 4.3 CALCULATION AMOUNT (i) Cash sales (ii) Cash purchases of stock (iii) Delivery expenses (iv) Salaries and wages (v) Repayment of loan (vi) Cash at end of month (vii) Cash surplus or deficit for the month 21 4.4 State ONE consequence that the business might face should they not pay the amount due to creditors in September 2022. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 10 MDE/September 2022 NSC Answer book 4.5 Briefly explain ONE advantage and ONE disadvantage of each option. OPTION ADVANTAGE DISADVANTAGE Request a friend to become equal partner Lease the equipment from Rato Computers Acquire a new loan 6 TOTAL MARKS 40 TOTAL: 150 Copyright reserved Please turn over