Accounting Grade 12 NSC ANSWER BOOK P2 May June 2025 KZN

KWAZULU-NATAL PROVINCE EDUCATION REPUBLIC OF SOUTH AFRICA NATIONAL SENIOR CERTIFICATE GRADE 12 7 ACCOUNTING P2 % : ANSWER BOOK ‘ : JUNE EXAMINATION 1 * 2025 o Name: Grade: MOD BY THE | MODBYTHE | MOD BY THE QUESTION MARKS SCHOOL CLUSTER PROVINCE 1 2 3 4 TOTAL This answer book consists of 9 pages. Copyright Reserved Please Turn Over

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QUESTION 1 (35 MARKS; 25 MINUTES) 2025 June Examination 1.1.1. | Provide THREE points for good internal control over creditors. 6 1.1.2 No. Creditors’ Ledger of Statement of account received Makhedama Stores from Kranskop Ltd. 17 Balance R114 485 R182 150 A. -9 500 -9 500 B. Cc. D. E. E. G. H. I. TOTAL Copyright Reserved Please Turn Over

2025 June Examination 1.2 DEBTOR’S AGE ANALYSIS AND INTERNAL CONTROL 1.2.1 | Calculate the percentage of debtors’ balances amounts that are within the credit term of the business. 1.2.2 | The business is not controlling its debtors effectively. Give Three reasons why you would agree with this statement. Quote figures. Reason Debtor & figure 1.2.3 | Tatjana is of the opinion that her debtors’ clerk does not screen (check) potential customers properly before offering credit facilities. Give TWO strategies that the debtors’ clerk should follow before allowing customers to open accounts. Copyright Reserved TOTAL MARKS 35 Please Turn Over

2025 June Examination QUESTION 2 (50 MARKS; 40 MINUTES) 2.1.1 Direct labour cost CALCULATION ANSWER 2.1.2 2.1.3 2.2.1 7 Factory overheads cost TOTAL 764 780 5 Production Cost Statement for the year ended 28 February 2025. Prime cost Total manufacturing cost 70 Work in progress at the beginning 26 000 Work in progress at the end of the year Provide TWO reasons why the factory workers choose to work overtime without any concern. 4 Calculate the break-even point for the year ended 28 February 2025. 4 Copyright Reserved Please Turn Over

2025 June Examination 2.2.2 | Explain whether the level of production achieved is satisfactory or not. Quote figures to support your opinion. 2.2.3 | Pep is generally satisfied with the management of variable costs but is not pleased with the control over direct labour costs. Justify his concern by quoting figures. Provide THREE suggestions he can implement to address the problem. 2.2.4 | Pep is considering using computerised machinery as an alternative to manual labour. This may result in some workers losing their jobs. Explain TWO points that he should consider before taking this step. 2.2.5 | Pep wants to increase production by 800 units during the next financial year while maintaining costs. Calculate the additional profit that he will achieve. Calculation Answer TOTAL MARKS 50 Copyright Reserved Please Turn Over

2025 June Examination QUESTION 3 (40 MARKS; 35 MINUTES) 3.1.1 Explain TWO differences between the perpetual stock system and the periodic stock system. perpetual stock system periodic stock system 4 3.1.2 | Calculate the following: (i) Customs duty paid per watch 1 (ii) | The value of closing stock using weighted average method 11 (iii) | Cost of sales 3 Copyright Reserved Please Turn Over

2025 June Examination (iv) | Calculate the Stock holding period in days for 2025 3.1.3 | Comment on stock holding period for 2025 ( 2024 was 158 days) 3.2.1 | Comment on the price adjustment policy. Is it a good idea to allow the managers to adjust prices? Provide figures to support your answer. 3.2.2 | Identify ONE problem relating to each branch. Provide figures to support your answer. In each case provide a possible solution. Identify a problem with figures | Possible solution SHOP A SHOP B SHOP C TOTAL MARKS 40 Copyright Reserved Please Turn Over

QUESTION 4 (25 MARKS; 20 MINUTES) BANK RECONCILIATION 4.1.1 4.1.2 4.1.3 2025 June Examination Cash Receipts Journal Cash Payments Journal 132 890 73 200 u Calculate the correct balance of the Bank account in the ledger on 30 April 2025. 4 The Bank Reconciliation Statement on 30 April 2025. Debit Credit 10 Copyright Reserved Please Turn Over

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ALTERNATIVE FOR ONE COLUMN 2025 June Examination 4.1.3. | BANK RECONCILIATION STATEMENT ON 30 April 2025 10 4.1.4] Provide ONE reason why the internal auditor should be concerned about the control of cash. Provide a solution for his concern. Reason with a figure Solution 4 TOTAL MARKS 25 Copyright Reserved TOTAL MARKS: 150 Please Turn Over