Accounting Grade 12 Paper 2 MP Prelim 2023 Addendum

Downloaded from hlayiso.com NAME OF SCHOOL NAME OF CANDIDATE CLASS NO. NATIONAL SENIOR CERTIFICATE ACCOUNTING P2 GRADE 12 SEPTEMBER 2023 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 9 pages Copyright reserved

Downloaded from hlayiso.com Accounting/P2 2 Mpumalanga/September 2023 NSC - Answer book QUESTION 1 1.1.1 Calculate the Direct labour cost on 30 June 2023 5 1.1.2 Prepare the Production Cost Statement for the year ended 30 June 2023. Prime cost Total manufacturing cost Work-in-process (1 July 2022) Total cost of production of finished goods 13 1.1.3 Identify ONE problem relating to the supervision of workers. Quote figures. Suggest ONE strategy the business can use to improve the supervision of workers. Problem Solution Problem 4 Copyright reserved

Downloaded from hlayiso.com Accounting/P2 3 Mpumalanga/September 2023 NSC - Answer book 1.2.1 Provide a calculation to confirm that the break-even point of 2 520 units for 2023 is correct. 4 1.2.2 Comment on the level of production achieved and the break-even point on 31 July 2023. Quote figures. 3 1.2.3 Provide TWO possible reasons for the change in Direct Material Cost per unit. 4 1.2.4 The owner, Ronny, does not understand why the fixed costs per unit decreased although production has increased. Prove ONE explanation. 2 TOTAL MARKS 35 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 Mpumalanga/September 2023 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 stock on hand on 30 June 2023 using the First in first out method (FIFO). 5 2.2.2 Calculate the stockholding period (in days) on 30 June 2023. Use the closing stock figure. 6 2.2.3 Comment on the stockholding period. Provide ONE point with figures. Note that the stockholding period for 2022 was 120 days. 2 2.2.4 Calculate the number of bicycles missing 5 Provide ONE internal control measure he can use to solve this problem. 2 2.3.1 Provide TWO points that shows that Buhle and her customers are happy with the quality of tekkies. Quote figures. 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 Mpumalanga/September 2023 NSC - Answer book 2.3.2 Explain why it was a good idea to change to a cheaper supplier of sandals. State TWO points. Quote figures 4 2.3.3 Identify TWO different problems that Buhle continued to experience in 2023 even though she reduced to selling price of shoes as strategy in response to a new competitor. Quote figure. 4 TOTAL MARKS 35 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 Mpumalanga/September 2023 NSC - Answer book QUESTION 3 3.1 BANK RECONCILIATION 3.1.1 CASH RECEIPTS JOURNAL CASH PAYMENT JOURNAL Details Amount Details Amount Total R 510 600 Total R 484 450 3.1.2 Calculate the correct bank balance in the ledger on 31 July 2023. WORKINGS ANSWER 4 3.1.3 Bank Reconciliation Statement on 31 July 2023 Debit Credit Balance per Bank Statement Debit outstanding EFT’s: Balance as per Bank Account 8 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 Mpumalanga/September 2023 NSC - Answer book 3.1.4 Explain TWO concerns the owner should mention to the bookkeeper relating to the internal control over cash resources. Quote figures. In each case, explain a strategy to prevent such problems in future. Concern with evidence Strategy 6 3.2 CREDITORS RECONCILIATION 3.2.1 Creditors’ Control Creditors’ List Provisional balance/total R70 650 R32 600 (i) (ii) (iii) (iv) (v) 9 3.2.2 The owner of Titus Stores is not satisfied with the service and quality of goods ordered from creditor Spring Ltd. Explain TWO factors that he must consider before changing to another supplier. 4 TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 Mpumalanga/September 2023 NSC - Answer book QUESTION 4 4.1 Complete the Debtors Collection Schedule for November 2023. Month Credit Sale October November August 2023 74 000 16 280 September 2023 68 000 27 200 October 2023 70 000 24 010 November 2023 64 000 Cash from debtors 67 490 7 · 4.2 WORKINGS ANSWER (i) Payment to creditors   5 (ii) Salaries of sales assistants 4 (iii) Cash surplus/ deficit 2 4.3 Comment on the cash balances. Provide figures. 2 Explain how Jane, the owner, can improve the cash balances in future. Provide TWO points. 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 Mpumalanga/September 2023 NSC - Answer book 4.4.1 Calculate the percentage increase in rent on 1 November 2023. 3 4.4.2 The amount of the interest on fixed deposit expected to be received in November 2023. 3 4.5 Identify TWO payments that you consider to be poorly managed in October 2023. In EACH case, give a suggestion to improve the internal control of the items identified. PAYMENT ADVICE  6 4.6 Refer to Information J: Provide TWO reasons why Jane should be concerned about the control over debtors. Quote figures. 4 TOTAL MARKS 40 TOTAL:150 Copyright reserved