# Accounting Grade 12 Paper 2 KZN Prelim 2023 Addendum

> Grade 12 Accounting Paper 2 addendum from the KZN Prelim 2023, 16 pages. Read online or get the free PDF download.

- Page: https://www.hlayiso.com/library/2023-kzn-prelim-p2-answer-book/c03842d9-1cb5-4154-9ad8-0ba95a0171c9
- Updated: 2026-09-27
- Subject: Accounting
- Grade: Grade 12
- Document type: Addendum
- Year: 2023
- Exam period: KZN Prelim
- Paper: 2
- Curriculum: CAPS
- Pages: 16

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## About this document

Accounting · Grade 12 · KZN Prelim · 2023. Addendum, 16 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

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Name: Grade:
QUESTION | srarKs | MARKS | SCHOOL | “cLUSTER’ | "PROVINCE
1 40
2 30
3 45
4 35
TOTAL 150

This answer book consists of 9 pages.

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QUESTION 1

1.1

1.2.1

Choose an example from COLUMN B that matches a cost category in COLUMN A.

Write only thejletter (A-D) next to the question numbers (1.1.1 to 1.1.3) in the
ANSWER BOOK, e.g 1.1.4 E.

1.1.1

1.1.2

1.1.3

PRODUCTION COST STATEMENT FOR THE YEAR ENDED 30 JUNE 2023

Prime cost

Total cost of production

Work in process — beginning of the year 250 000

Total cost of production of finished products

10

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1.2.2

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ABRIDGED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED
30 JUNE 2023

Sales

Cost of sales:

Gross Profit

Net profit for the year

11

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1.3.1

1.3.2

1.3.3

1.3.4

1.3.5

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Explain why it is important to calculate the expected break-even point for a business
at the beginning of a financial year.

Mandy feels-that she can improve the sales of calculators. Provide TWO suggestions
on how this-can be achieved.

Mandy was concerned about the increase in the fixed cost per unit of calculators. What
would you say to her? Provide ONE point and quote figures to support your answer.

Except for a general increase in wages due to inflation, give TWO other reasons for the
increase in direct labour costs per unit. In each case, provide a practical solution to
address this.

Possible reason Solution

Mandy wants to increase production by 700 units during the next-fihancial year while
maintaining costs. Calculate the additional profit that she will achieve.

WORKINGS ANSWER

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TOTAL MARKS

40

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QUESTION 2

2.1.1 | Calculate the selling price per unit for running shoes.

WORKINGS ANSWER

2.1.2 | Calculate the value of closing stock on 30 April 2023 using weighted average method.

WORKINGS ANSWER

2.1.3. | It was discovered that a number of running shoes were shoplifted. Calculate the
number of the missing shoes.

WORKINGS ANSWER

2.1.4 | Provide TWO strategies that Ganesha should implement to prevent-the loss of stock
in future.

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A

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2.2.3

2.2.1

2.2.2

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by quoting figures and trends. Provide a solution to each problem.

SeHREH PE Hert antnee with te HERD ntataG UF Socce? Boots. Identity TWO problems

PROBLEM SOLUTION / ADVICE

Problem 1

Problem 2

Calculate the stock turnover rate of soccer boots for 2023.

(Use the average stock).

WORKINGS

ANSWER

NOTE: It was 5 times in 2022.

Explain whether Ganesha should be concerned about the stock turnover rate.

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TOTAL MARKS

30

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QUESTION 3

DEBTORS' COLLECTION SCHEDULE FOR THE TWO MONTHS

ENDING 31 OCTOBER 2023

Month Credit Sales | September October Bad
debts

July 10 200

August 222 000 88 800 11 100

September 56 430

October 210 000

10

Calculate the figures indicated by (i)-(v) on the Cash Budget.

WORKINGS

ANSWER

(i)

(ii)

(iii)

(iv)

(v)

13

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Calculate the average Debtors' Collection period in days.

WORKINGS

ANSWER

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3.1.4 | The owner wants to purchase the business premises rather than

option.

renting--Provide ONE advantage and ONE disadvantage of this

ONE advantage

ONE disadvantage

3.1.5 | Comment and provide one point of advice on each expense item.

Quote figures and trends.

Comment

Advice

Water and
Electricity

Advertising

3.2 | Identify ONE problem at each branch. Quote figures to support the

problem identified and give Msizi advice on how to solve the
problem in each case.

PROBLEM AND
FIGURE

SOLUTION

Branch 1
Phumzile

Branch 2
Peggy

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Branch 3
Parvati
TOTAL MARKS
45
QUESTION 4

41

4.1.1

4.1.2

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BANK RECONCILIATION

CASH RECEIPTS JOURNAL
R

CASH PAYMENT JOURNAL
R

510 600

487 300

BANK RECONCILIATION STATEMENT ON 31 JULY 2023

DEBIT

CREDIT

Balance per Bank Statement

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Balance as per Bank Account

ALTERNATIVE FOR ONE COLUMN

4.1.2

4.2

BANK RECONCILIATION STATEMENT ON 31 JULY 2023

Balance per Bank Statement

Balance as per Bank Account

Explain whether or not the business made the right decision in alerting the bank about
the deposit of R9 800 on 25 July 2023.

CREDITORS RECONCILIATION

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4.2.1

4.2.2

4.2.3

Briefly explain how the preparation of a creditors’ reconciliation as an internal control
measure can assist the business in managing their creditors effectively. Provide TWO
points.

Use the table provided to indicate the changes that must be made in the Creditors’ Control
account and Creditors’ List in the books of Titanic Traders to take into account the errors
and omissions noted. Indicate the increase or decrease with a (+) or (-) with each amount.
Show brackets as alternative method.

Creditors’ Control Creditors’ List
R R
Provisional balance/total 74720 32 600
A
B
c
D
E

State THREE Internal control measures that the business can use to prevent similar
incidents from happening in future.

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TOTAL MARKS

35

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