Accounting Grade 12 Paper 2 NW Prelim 2023 Addendum

Downloaded from hlayiso.com Downloaded from Stanmorephysics.com NAME: NAME OF SCHOOL: NATIONAL SENIOR CERTIFICATE ACCOUNTING P2 GRADE 12 SEPTEMBER 2023 SPECIAL ANSWER BOOK QUESTION MARKS MARKS INITIAL MODERATOR AWARDED 1. 40 2. 45 3. 35 4. 30 TOTAL 150 This answer book consists of 11 pages: Copyright reserved Please turn over

Downloaded from hlayiso.com aBownjeaded from Stanmorephysics.com NW/September 2023 NSC — Answer Book QUESTION 1 1.1 | DEBTORS' AND CREDITORS' RECONCILIATION Debtors Creditors Item Debtor Debtors Creditors Creditors Control List Control List Balancesf Total 36 100 36 730 47 550 46 020 1 2 3 4 5 6 7 15 1.2 BANK RECONCILIATION 1.2.1 | CASH RECEIPTS JOURNAL CASH PAYMENTS JOURNAL Total 389 504 Total 287 000 11 1.2.2 | Calculate the correct Bank balance in the ledger on-the 31 August 2023. WORKINGS ANSWER 4 Copyright reserved Please turn over

Downloaded from hlayiso.com a®ownjeaded from Stanmorephysics.com NSC — Answer Book NW/September 2023 YOU MUST CHOOSE ONE OF THESE TEMPLATES — DO NOT USE BOTH 1.2.3 | Bank Reconciliation Statement on 31 August 2023. Bim Debit Credit OR one column method: Bank Reconciliation Statement on 31 August 2023. Copyright reserved Please turn over

Downloaded from hlayiso.com aBownteaded from Stanmorephysics.com NW/September 2023 NSC — Answer Book 1.2.4 | An investigation revealed that the deposit of R31 210, dated 9 July 2023, did not appear in the July and August Bank Statements. This was in respect of cash received, that Joubert never deposited. You advised the owner to write off this amount. State the GAAP principle that applies to this decision: Explain TWO procedures, besides division of duties, to be implemented to prevent such a loss in future. TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com A®ownJoaded from Stanmorephysics.com NW/September 2023 NSC — Answer Book BLANK PAGE | Copyright reserved Please turn over

a®owneaded from Stanmorephysics.com Downloaded from hlayiso.com NSC — Answer Book QUESTION 2 2.1. | COST CONCEPTS 2.1.1 2.1.2 2.1.3 2.2 © MAQLAWN MOWER MANUFACTURERS NW/September 2023 2.2.1 | FACTORY OVERHEAD COST 15 2.2.2 | PRODUCTION COST STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2023 Prime cost Total manufacturing cost Work-in-process (beginning of year) 160 000 Cost of production of finished goods Copyright reserved Please turn over 12

a®owneaded from Stanmorephysics.com Downloaded from hlayiso.com NSC — Answer Book 2.3. VITAMIN CHEWABLES 2.3.1 2.3.2 2.3.3 2.3.4 Copyright reserved Provide a calculation to confirm that the break-even point for the 2023 financial year is correct. WORKINGS ANSWER Mimi is not happy with the number of units produced and sold. Provide TWO points of evidence with figures to support her opinion. No theft has occurred in the business; however, Mimi is concerned that most of her workers are not loyal and committed and do have due regard for the products they produce. Provide TWO different points of evidence, with figures, to support her opinion. Mimi wants to improve her profit by R75 000 during the next financial year while maintaining costs. Calculate the additional units that must be produced to achieve this target. TOTAL MARKS 45 NW/September 2023 Please turn over

Downloaded from hlayiso.com aBownteaded from Stanmorephysics.com NW/September 2023 NSC — Answer Book QUESTION 3 SKIRTS 3.1.1 Provide=a calculation to show how much stock of fabric (in metres) has been stolen from the storeroom. WORKINGS ANSWER Provide a calculation to show how much stock of fabric (in metres) has been wasted in, or stolen from the factory. WORKINGS ANSWER 3.1.2 Calculate the value (excluding VAT) of all the stock of fabric on hand at the year-end using the weighted average method. WORKINGS ANSWER 3.1.3. | Apart from obvious measures such as installing cameras and locking up the storage areas, what instructions should be given to the following staff managers to prevent theft of fabric? Provide TWO different points for each employee: STAFF MEMBERS INSTRUCTIONS Store room manager Factory manager Copyright reserved Please turn over

Downloaded from hlayiso.com ABownjoaded from Stanmorephysics.com NSC — Answer Book NW/September 2023 DRESSES: 3.2.1 Calculate the value of the closing stock (VAT excluded) of the dresses according to the Specific Identification method. WORKINGS ANSWER 4 3.2.2 Calculate the stock holding period of dresses. 4 3.3. VALUE ADDED TAX A B Cc D DETAILS OF EXCLUDING INCLUDING | VAT AMOUNTS TRANSACTIONS VAT VAT CALCULATED Purchase of skirt fabric R172 460 R198 329 R25 869 Purchase of dresses R234 000 R269 100 Sales of skirts hz R469 200 Sales of dresses R364 800 R419 520 Administration salaries & wages R70 000 Other administration & operating expenses R103 200 Fixed assets purchased R142 600 Bad debts R2 300 R2 645 AMOUNT PAYABLE TO SARS 10 OR RECEIVABLE FROM SARS Copyright reserved TOTAL MARKS 35 Please turn over

Downloaded from hlayiso.com aownleaded from Stanmorephysics.com NW/September 2023 NSC — Answer Book QUESTION 4 4.1 | Explain how Anel changed the mark-up % from October to November, and provide TWO reasons why she might have chosen to do this. Explanation of how: Reasons? 4 4.2 | Calculate the amount of the loan on 1 October 2023. 4 4.3 | Calculate the proposed percentage increase that will be granted during November 2023. 2 Do you think that the shop assistants will be satisfied with this increase? Give a reason to support your opinion. 2 4.4 Refer to Information B 4.4.1 | Comment on the budgeted and actual figures for advertising. What consequences do this have for the business? Quote figures or calculations to support your opinion. 3 4.4.2 | The owner is concerned about the differencejbetween the budgeted and actual figures of repair material//Why is she concerned and what could be the reason for this-difference? Quote figures or calculations to support your opinion. 3 Copyright reserved Please turn over

Downloaded from hlayiso.com aownleaded from Stanmorephysics.com NW/September 2023 NSC — Answer Book 4.5. PROBLEM SOLVING 4.5.1 | Calculate the impact that the cost saving initiatives would have on the electricity expense SAVINGS WORKINGS ANSWER From LED lights | 780 000 x 20/100 x 70/100 R109 200 From air- conditioner motion sensors From electrical to gas stoves From solar geysers Total: R 7 ee | 4.5.2 | Calculate how long it will take for the savings to cover the total cost of the initiatives proposed. How long: 2 4.5.3 | Explain why you would advise James and Brenda to go ahead with the proposed measures or not. 2 Provide TWO other advantages that these changes would have for the future prospects of the hotel. 2 TOTAL MARKS 30 TOTAL: 150 Copyright reserved