# Accounting Grade 12 Paper 2 MP Prelim 2022 Memo > Grade 12 Accounting Paper 2 memorandum from the MP Prelim 2022, 10 pages. Read online or get the free PDF download, question paper linked when available. - Page: https://www.hlayiso.com/library/2022-mp-prelim-p2-memo/987b53dc-8cea-45c3-80ba-d213eedc69b7 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 12 - Document type: Memorandum - Year: 2022 - Exam period: MP Prelim - Paper: 2 - Curriculum: CAPS - Pages: 10 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 12](https://www.hlayiso.com/library/grade-12) › [Accounting](https://www.hlayiso.com/library/grade-12/accounting) › [Accounting Grade 12 Paper 2 MP Prelim 2022 Memo](https://www.hlayiso.com/library/2022-mp-prelim-p2-memo/987b53dc-8cea-45c3-80ba-d213eedc69b7) ## About this document Accounting · Grade 12 · MP Prelim · 2022. Memorandum, 10 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 Downloaded from hlayiso.com Downloaded f rom St anmorephysics. com NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING P2 SEPTEMBER 2022 MARKING GUIDELINES MARKS: 150 MARKING PRINCIPLES: 1. Unless otherwise stated in the marking guideline, penalties for foreign items are applied only if the candidate is not losing marks elsewhere in the question for that item (no penalty for misplaced item). No double penalty applied. 2. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is earning marks on the figures for that item. 3. Full marks for correct answer. If answer incorrect, mark the workings provided. 4. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for that figure (not the method mark for the answer). Note: if figures are stipulated in memo for components of workings, these do not carry the method mark for final answer as well. 5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. If no + or – sign or bracket is provided, assume that the figure is positive. 6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers from candidates. 7. This memorandum is not for public distribution, as certain items might imply incorrect treatment. The adjustments made are due to nuances in certain questions. 8. Where penalties are applied, the marks for that section of the question cannot be a final negative. 9. Where method marks are awarded for operation, the marker must inspect the reasonableness of the answer and at least one part must be correct before awarding the mark. 10. Operation means 'check operation'. 'One part correct' means operation and one part correct. Note: check operation must be +, -, x, ÷, or per memo. 11. In calculations, do not award marks for workings if numerator & denominator are swapped – this also applies to ratios. 12. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at least in part. Indicate with a . 13. Be aware of candidates who provide valid alternatives beyond the marking guideline. 14. Codes: f = foreign item; p = placement/presentation. This marking guideline consists of 10 pages Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting/P2 2 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com QUESTION 1 1.1 VAT 1.1.1 Explain why the government in SA made certain goods to be zero-rated. Any ONE valid point  To make basic goods to be affordable to needy people. 2 1.1.2 Taking into account the error and omission, calculate the VAT amount that is either payable or receivable from SARS. Answer R89 600 + 84 000 – 29 100 + 450 – 8 250 R136 700 Signs can be reversed one part correct Accept alternative calculations, e.g., Ledger account 8 1.1.3 Explain what you would say to Peter. Provide TWO points. Any valid explanation   (must mention legal issue) Peter must keep accurate records of VAT and make correct submissions to SARS for the following reasons:  It is illegal business practice (fraud)/not prudent practice.  The business is an agent of SARS – correct money collected on behalf of SARS must be paid.  The business will be liable for penalties and fines. 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 totals R510 600 Provisional totals R486 300 P. Papane- Rent 6 250  EFT-633 3 600  Interest 290  Petty Insurers 1 850  Debit card  1 000 Repairs Transaction fees 1 425  R517 140  Both totals R494 175 8 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting/P2 3 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com 1.2.2 Calculate the Bank Account balance on 31 July 2022. Answer R15 300 + 517 140 – 494 175 R38 265 one part correct 4 1.2.3 BANK RECONCILIATION STATEMENT ON 31 JULY 2022 ONE COLUMN DEBIT CREDIT METHOD Balance per Bank Statement R43 310 Balancing figure R43 310  Credit outstanding deposit R10 000 R10 000  Debit outstanding EFT: EFT No.655 (R5 650) R5 650  EFT No.656 (R1 445) R1 445  Debit incorrect amount (R9 800) R9 800  Credit incorrect amount R1 850 R1 850  Balance as per Bank Account (R38 265) R38 265  R55 160 R55 160 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. Any ONE valid explanation   Yes, he did make a good decision to alert the bank because he would not have been able to prove that the money was his/No documents  Eventually the intended recipient would have complained about not receiving the money, which would have led to a disagreement or the possibility of a police investigation.  The business must maintain its reputation as an ethical organisation. 2 TOTAL MARKS 35 Copyright reserved Please turn over ### Page 4 Downloaded from hlayiso.com Accounting/P2 4 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com QUESTION 2. 2.1 KRUSH ELECTRONICS 2.1.1 Calculate the value of closing stock according to the FIFO method on 31 July 2022. 20 x R3 900 = R78 000  one part correct 177 x R 4 200 =R743 400  one part correct 197 =R821 400  operation 5 2.1.2 Calculate the average stock-holding period on 30 June 2022. 650 883 Two marks ½ (R821 400+480 365) x 365 days = 114 days if ½ and one part correct R2 078 865 accept 130 days OR 197/515 units x 365 days = 139,6 days 4 Provide a calculation to support her concern over the security of the stock. (85+ 640)- 8- 515-197 = 5 missing  one part correct 5 2.1.3 Calculate the value of closing stock according to weighted-average method. 2 900 265 Three marks 480 365+2 453 500 – 33 600 x 197 = 796 865 one part correct 85+640- 8 717 Three marks 7 2.2.1 Mention ONE additional control measure that Mbali could consider to improve controls in the branches. Any ONE valid point  Encourage customers to use EFT/ credit cards Introduce online shopping facilities Create a policy of regular banking to avoid rolling of cash 2 Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting/P2 5 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com 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   80% are credit sales/ cash sales Discount on cash sales are 20% of total sales Charge interest on credit sales They only work 5 days per week The competitor work 6/7 days There are only 2 shop assistants. The business should consider to 4 increase the number of shop assistants. 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. Any ONE valid explanation   The business is operating for 7 days per week Advertising, R16 200 increased sales The business is offering online facility, 750 units sold Employed 6 shop assistants 3 TOTAL MARKS 30 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting/P2 6 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com QUESTION 3 3.1.1 Calculate the direct labour cost on 28 February 2022 Answer Normal time 3 x 1 920 x R50 = R288 000 R310 800 Overtime 3 x 95 x R80 = R 22 800 5 one part correct 3.1.2 Prepare the Factory Overhead Cost Note on 28 February 2022 Indirect material (18 600 + 149 500 – 21 400) *146 700 Rent expense (169 000 x 10 800 m2 /13500m2) *135 200 Water and electricity (172 000 + 18 000) x 75% *142 500 Insurance 105 900  Depreciation on factory equipment 61 200 591 500 12 *one part correct 3.1.3 Complete the Production Cost Statement on 28 February 2022 Direct material cost R666 700 Direct labour cost see.3.1.1 R310 800 Prime cost DMC + DLC R977 500 Factory overhead cost see 3.1.2 R591 500 Total manufacturing cost PC + FOHC R1 569 000 Work-in-progress on 1 March 2021 R195 000 R1 764 000 Work-in-progress at end Balancing figure (accept +ve difference) (R224 500) Cost of production of finished goods R1 539 500 10 (210 000 + 1 562 500 – 233 000 ) One part correct 3.2.1 Calculate the following for the year ended 30 June 2022: Direct material cost Answer 331 500 x R7,56 R2 506 140 2 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting/P2 7 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com Break-even point R3 102 500  = 365 000 units one part correct R28 – 19,50 4 3.2.2 Explain why the owner should be concerned about the break-even point. Quote figures. Explanation  Figure  BEP increased from 273 000 units to 365 000 units (by 92 000, which make it more difficult to achieve a profit) OR Business will make a loss on 33 500 units 3 3.2.3 Explain why the owner would NOT be satisfied with the direct material cost per unit. Quote figures. Explanation with figure  DMC increased from R5,60 to R7,56 (by R1,96 or 35%) 3 Apart from changing the supplier to get a cheaper price, provide an alternative solution to this problem. Mention ONE point. Any ONE valid answer  Train work to minimise wastage/ to improve skills 2 Use quality material. 3.2.4 Give TWO reasons why this option is not a good idea. Any TWO valid answers   part marks for incomplete / unclear answer  He should not give false information to customer (unethical business practice)  Will incur additional costs in producing new packaging / advertising  The customers will not be happy and sales would drop even more / lose customers to competitors  Negative impact on image of the business, when discovered 4 TOTAL MARKS 45 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting/P2 8 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com QUESTION 4 4.1 Thando is not concerned about the overspending in advertisement. Explain why this is so. Quote figures. Candidate must indicate the positive effect of advertising on sales  Provide appropriate figures  one mark. Expected response for 3 marks: Advertising increased by R4 500 but Sales increased by R24 500. OR Advertising increased by 37,5% while Sales increased by 20% on bigger base. 3 4.2 CREDITORS' PAYMENT SCHEDULE CREDIT MONTH OCTOBER NOVEMBER PURCHASES August R60 000 6 000 September R67 500 10 125 R6 750  R11 250 October 75 000 53 438 15% of credit  purchases November R90 000 R64 125  69 563 R82 125 * *one part correct; ignore foreign entries 8 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting/P2 9 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com 4.3 CALCULATION AMOUNT (i) Cash sales R150 000 x 40% 2 R60 000  If correct workings are shown without answer, award 1 mark only (ii) Cash purchases of stock R120 000 two marks R30 000  R180 000 x 100/150 x 25% 4 one part correct (iii) Delivery expenses 6% two marks 10 800  9 000 / 150 000  x 180 000  4 one part correct (iv) Salaries and wages 38 700  x 100 /107,5  4 36 000  one part correct (v) Repayment of loan two marks one mark 168 000 – 120 000 OR 48 000  600  x 100/15  x 12  4 one part correct OR two marks one mark 7 200 x 100/15 53 250  (vi) Cash at end of month 1 (vii) Cash surplus or deficit for the month (64 200)  10 950 + 53 250 2 ignore brackets If correct workings are shown without answer, award 1 mark only 21 4.4 State ONE consequence that the business might face should they not pay the amount due to creditors in September 2022. Any ONE possible response  One mark for incomplete / unclear answer  Legal action can be taken by the creditors.  Business will be charged interest for slow payment.  The credit ratings of the business will decrease/ could be blacklisted  Credit to the business will be stopped by the creditors. 2 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com Accounting/P2 10 MDE/September 2022 Downloaded f rom St anmorephysics. NSC Marking Guideline com 4.5 Briefly explain ONE advantage and ONE disadvantage of each option. Note that figures are not required; Alternative valid answers possible OPTION ADVANTAGE    DISADVANTAGE    She will have the She will have to share half necessary funds to his profits with her new Request a friend purchase the assets partner. to become equal (which will then belong to partner the business) / share workload and skills / partner will share losses. She does not have to raise The lease charges are Lease the a loan / does not have to expensive / lease is over equipment from pay interest on the loan / five years / never owns the Rato Computers will not have to pay repair assets but continues to costs. pay. She will own the assets / She has to pay interest / they could last longer than pay a monthly instalment Acquire a new five years if she takes (which must include loan good care of them. interest). 6 TOTAL MARKS 40 TOTAL: 150 Copyright reserved Please turn over ## Related documents - [ACCOUNTING P2 MEMO GR12 P2 JUNE 2022 Afrikaans Final](https://www.hlayiso.com/library/accounting-p2-memo-gr12-p2-june-2022-afrikaans-final/8607a9eb-4290-4d74-af8b-7bb6e58e91eb) — Accounting · Memo · 2022 · Afr - [ACCOUNTING P2 MEMO GR12 P2 JUNE 2022 English Final](https://www.hlayiso.com/library/accounting-p2-memo-gr12-p2-june-2022-english-final/edb5d545-b8d8-4365-b883-b3b3de78130f) — Accounting · Memo · 2022 · Eng - [ACCOUNTING P2 GR12 MEMO SEPT 2022 Afrikaans](https://www.hlayiso.com/library/accounting-p2-gr12-memo-sept-2022-afrikaans/b8060326-1d99-4ab4-b3d0-670339bf9763) — Accounting · Memo · 2022 · Afr - [2023 MP Prelim P2 Memo](https://www.hlayiso.com/library/2023-mp-prelim-p2-memo/8339757f-4c69-4fe5-a4b9-9b18e18257ca) — Accounting · Memo · 2023 - [2022 MP Prelim P1 QP](https://www.hlayiso.com/library/2022-mp-prelim-p1-qp/1ec48209-db47-42c9-83c6-d680b1651391) — Accounting · QP · 2022 - [ACCOUNTING P2 GR12 ANSWERBOOK JUNE 2022 Afrikaans Finaal](https://www.hlayiso.com/library/accounting-p2-gr12-answerbook-june-2022-afrikaans-finaal/67317f0a-c6c2-47b6-bae2-7d594500c14b) — Accounting · Addendum · 2022 · Afr ## More from Grade 12 Accounting - [Accounting](https://www.hlayiso.com/library/accounting/8f42a6a4-9593-4d36-86b1-d890dd1bb1bf) — Guide - [ACCOUNTING P1 GR12 AB JCT ENG D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-ab-jct-eng-d-watermark/77ae8297-53f7-47b3-8e29-57bd38f30483) — Addendum · 2025 · Eng - [ACCOUNTING P1 GR12 QP JCT 2025 AFR D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-qp-jct-2025-afr-d-watermark/c6a5692b-3cb0-464b-bb82-67d6ce83bfdd) — QP · 2025 · Afr - [ACCOUNTING P1 GR12 QP JCT 2025 ENG D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-qp-jct-2025-eng-d-watermark/84d92eb0-f5bd-4442-bb6d-c55cdc52e25d) — QP · 2025 · Eng - [ACCOUNTING P2 QP GR12 JCT 2025 ENG D watermark](https://www.hlayiso.com/library/accounting-p2-qp-gr12-jct-2025-eng-d-watermark/13425f71-aba6-4328-b084-d9b108884315) — QP · 2025 · Eng - [Accounting P1 (English) June 2025 Answer Book](https://www.hlayiso.com/library/accounting-p1-english-june-2025-answer-book/7e96e433-56f8-43a1-9a38-c68c465746dd) — Addendum · 2025 · Eng ## Collection - [Grade 12 past papers](https://www.hlayiso.com/grade-12/past-papers) --- Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. 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