# Accounting Grade 12 Paper 2 KZN June 2025 Question Paper

> Grade 12 Accounting Paper 2 question paper from the KZN June Exam 2025, 14 pages. Read online or get the free PDF download, memo linked when available.

- Page: https://www.hlayiso.com/library/accounting-grade-12-nsc-qp-p2-may-june-2025-kzn/3d363753-f1c6-44cd-a5f9-d3b941d5638b
- Updated: 2026-09-27
- Subject: Accounting
- Grade: Grade 12
- Document type: Question paper
- Year: 2025
- Exam period: KZN June Exam
- Paper: 2
- Curriculum: CAPS
- Pages: 14

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 KZN June 2025 Question Paper](https://www.hlayiso.com/library/accounting-grade-12-nsc-qp-p2-may-june-2025-kzn/3d363753-f1c6-44cd-a5f9-d3b941d5638b)

## About this document

Accounting · Grade 12 · KZN June Exam · 2025. Question paper, 14 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

KWAZULU-NATAL PROVINCE

EDUCATION
REPUBLIC OF SOUTH AFRICA

NATIONAL
SENIOR CERTIFICATE
GRADE 12 |

" ACCOUNTINGP2 ‘
f JUNE EXAMINATION :
" 2025 I

MARKS: 150

TIME: 2 Hours

This question paper consists of 12 pages including a formula sheet
and an Answer Book of 9 pages.

Copyright Reserved

Please Turn Over

### Page 2

2025 June Examination

INSTRUCTIONS AND INFORMATION

Read the following instructions carefully and follow them precisely.

1. Answer ALL the questions.

2. | Aspecial ANSWER BOOK is provided in which to answer ALL the questions.
3. | Show workings in order to achieve part-marks.

4. You may use a non-programmable calculator.

5. You may use a dark pencil or blue/black ink to answer the questions.

6. Where applicable, show all calculations to ONE decimal point.

7. If you choose to do so, you may use the Financial Indicator Formula Sheet attached at
the end of this question paper. The use of this formula sheet is NOT compulsory.

8. Write neatly and legibly.

9. Use the information and table below as a guide when answering the question paper.
Try NOT to deviate from it.

QUESTION TOPIC MARKS MINUTES
1 Creditors Reconciliation and Debtors age analysis 35 25
2 Cost Accounting 50 40
3 Stock Valuation, Problem solving. 40 35
4 Bank Reconciliation 25 20
TOTAL 150 120

Copyright Reserved

Please Turn Over

### Page 3

2025 June Examination

QUESTION 1: RECONCILIATION (35 Marks: 25 Minutes)
1.1 CREDITORS’ RECONCILIATION:
Makhedama Stores purchase goods on credit from Kranskop Ltd.
REQUIRED:
1.1.1. Provide THREE points for good internal control over creditors (6)
1.1.2 Use the table in the ANSWER BOOK to indicate how the relevant balances
will change when preparing the creditors’ reconciliation. Indicate the figure
as well as (+) for increase and (~) for decrease. The first transaction has
been done as an EXAMPLE. (17)
INFORMATION:

The following balances are provided

In the account of Kranskop Ltd in the Creditors' Ledger
of Makhedama Stores on 31 May 2025:

On the statement received from Kranskop Ltd on

25 May 2025:

R114 485] Credit

R182 150 Debit

The following errors and omissions were discovered during an investigation:

A. _Apayment by Makhedama Stores of R9 500 was omitted from the
Creditors' Ledger and the statement of accounts.

B. An invoice for goods bought for R87 000 was reflected on the statement from
Kranskop Ltd but was not recorded by Makhedama Stores.

C. An invoice for R28 000 received from Kranskop Ltd was recorded correctly by
Makhedama Stores. The statement of account reflects itas R21 100.

D. Makhedama Stores had correctly recorded discount of R1 350 for early
payment of their account. This has not been reflected on the statement from
Kranskop Ltd.

E. The statement of accounts reflects interest of R730 on the overdue account.
Kranskop Ltd acknowledged that an error had been made and promised to
reverse the entry in the June 2025 statement.

F. | Adebit note for R2 000 issued to Nongoma traders was incorrectly recorded
in the account of Kranskop Ltd by Makhedama Stores.

G.  Acredit note for R5 350 received from Kranskop Ltd for goods returned was
incorrectly recorded as an invoice by Makhedama Stores.

H. Kranskop Ltd included returns of R1 215 on the statement. These were
returns by another client, Road Stores.

Copyright Reserved

Please Turn Over

### Page 4

2025 June Examination

ii Goods purchased from Kranskop Ltd on 31 May 2025 for R4 600 were
recorded by Makhedama Stores. The statement of accounts from Kranskop
Ltd is dated 25 May 2025.

Copyright Reserved

Please Turn Over

### Page 5

2025 June Examination

1.2 DEBTORS’ AGE ANALYSIS AND INTERNAL CONTROL

Charlestown Fashion Boutique sells 80% of their ladies' fashion wear on credit.
The business pays cash for its stock. The business is owned by Tatjana Smith.

STUDY THE DEBTORS’ AGE ANALYSIS PROVIDED BELOW TO ANSWER THE
FOLLOWING QUESTIONS.

4.2.1 Calculate the percentage of debtors’ balances that are within the credit term (2)
of the business.

1.2.2 The business is not controlling its debtors effectively. Give THREE reasons (6)
why you would agree with this statement. Quote names of debtors and
figures to support your reasons.

1.2.3 Tatjana is of the opinion that her debtors’ clerk does not screen (check) (4)
potential customers properly before offering credit facilities.
Give TWO strategies that the debtors’ clerk should follow before allowing
customers to open accounts.

INFORMATION:
The age analysis of debtors extracted at the end of May 2025 showed the following:

Credit Policy: Debtors are allowed 30 days credit terms.

NAME OF CREDIT| TOTAL |CURRENT| 30 60 90
DEBTOR LIMIT | OWING | MONTH | DAYS | DAYS | DAYS+
P. Nel 8 000 7 700 2800] 4900
P. Ras 5 000 6 120 3820] 2300
S.M Mazibuko 4 000 1 380 1 380
M.K Ngubane 6 000 6 000 1500 4 500
P. Luthuli 10000] 10600 3420] 4280] 2900

31 800 10120] 9380] 7800] 4500

100% ? ? ? ?

Copyright Reserved

Please Turn Over

### Page 6

2025 June Examination

Copyright Reserved

Please Turn Over

### Page 7

QUESTION 2: COST ACCOUNTING

2.1. NDABA MANUFACTURERS

2025 June Examination

(50 Marks: 40 Minutes)

The information relates to the financial year ended 28 February 2025. The

business manufactures one type of hat

REQUIRED :

2.1.1 Calculate the following:

e Direct labour cosi (refer to information C)

e Factory overheads cost for the year (refer to information D)

2.1.2 Prepare the Production Cost Statement for the year ended 28 February 2025.

2.1.3. The owner is impressed that factory workers never complained about
working overtime to meet targets.

Provide TWO reasons why the factory workers choose to work overtime

without any concern.

INFORMATION:
A. Stock balances:
28 February 2025 | 29 February 2024
Raw material stock 745 000 2 663 000
Work — in — progress 7 26 000
Finished goods 552 000 276 000
B. Raw material issued for production amounted to R1 500 000.

Copyright Reserved

Please Turn Over

(7)
(5)

(10)

(4)

### Page 8

2025 June Examination

Cc. Direct labour costs for the year:
No of P
workers wages Earnings per worker
40 Basic (Normal wages) R50 2.000 hours
Overtime Basic rate + 80% 100 hours
Note:

e Deduction: 9% of basic wages
e Employer's contribution: 12% of basic wages

D. Factory overheads costs:

The bookkeeper calculated factory overheads as R764 780. However, she
made the following errors which must be corrected:

e The factory rent expense of R66 000 was included in the factory
overheads. The amount was undercast by 20%

e Annual insurance for the period 1July 2024 to 30 June 2025 was paid
and allocated to factory, office and sales in the ratio 3: 1:1
respectively.

The office insurance amounted to R1 440 per month.

E. The following were calculated after taking into account the above
information:
Sales R5 760 000

Actual mark — up achieved

80%

Copyright Reserved

Please Turn Over

### Page 9

2.2

CEBEKHULU PENS

2025 June Examination

The business manufactures one type of pen and is owned by Pep Guardiola.
The financial year ended on 28 February 2025.

REQUIRED:
2.2.1

2.2.2

Quote figures to support your opinion.

2.2.3

e Justify his concern by quoting figures
e Provide THREE suggestions he can implement to address this

problem.

2.2.4

Calculate the break — even point for the year ended 28 February 2025.

Explain whether the level of production achieved is satisfactory or not.

Pep is generally satisfied with management of variable costs, but is not
pleased with the control over direct labour costs.

Pep is considering using computerised machinery as an alternative to

manual labour. It 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.

INFORMATION:

Extracted from the records of Cebekhulu pens:

(4)

(4)

(2)
(6)

(4)

(4)

28 February 2025 29 February 2024
Total Unit cost Total Unit cost
(R) (R) (R) (R)
Fixed costs 2 442 375 58.50 2 346 000 55.20
Variable costs: 1 507 175 36.10 1 155 750 27.19
Direct material cost 705 575 16.90 539 750 12.70
Direct labour cost 613 725 14.70 416 500 9.80
Selling and distribution 187 875 4.50 199 500 4.69
Selling price per unit R104.10 R95.70
Number of units 41 750 units 42 500 units
produced and sold
Break — even point i? 34 244 units

Copyright Reserved

Please Turn Over

### Page 10

QUESTION 3: INVENTORY SYSTEMS AND VALUATION
INVENTORY VALUATION

3.1

2025 June Examination

(40 Marks; 35 Minutes)

You are provided with information related to Ladysmith Traders for the year
ended 28 February 2025. The business is owned by Kevin De Bruyne. The
business sells one type of Rolex watches. The periodic inventory system and
weighted average stock valuation method is in operation.

REQUIRED:

3.1.1

31.2

3.1.3. Comment on the stock holding period for 2025. ( 2024 was 158 days)

Explain TWO differences between the perpetual stock system and the
periodic stock system.

Calculate the following:

(

(ii)
(iii)
(iv)

Cost of sales

i) Customs duty paid per watch

Stock holding period in days for 2025.

The value of closing stock using weighted average method.

(4)

(1)
(11)
(3)
(5)
(3)

INFORMATION:
A. The Rolex watches are imported from USA.
B. The watches are valued using the weighted average method
c. Balances: NUMBER OF TOTAL
UNITS
Opening stock 100 3 803 500
Closing stock 78 ?
D. Purchases during the financial year:
DATES NUMBER UNIT TOTAL Customs
OF UNITS | COST (EXCLUDING duty
CUSTOMS
AND
CARRIAGE)
01 March 2024 120 R33 000 | R3 960 000 R18 000
15 August 2024 81 R35 000 | R2 835 000 R12 150
11 January 2025 69 R37 000 | R2 553 000 R10 350
270 R9 348 000 R40 500
E. Carriage on purchases for the financial year:
Watches were transported at R50 per watch from King Shaka
International Airport to the business.
F. 5 watches bought on 15 August 2024 were returned to the supplier. The

Copyright Reserved

supplier agreed to refund R35 000 per watch and no other costs.

Please Turn Over

### Page 11

3.2 PROBLEM SOLVING

2025 June Examination

Vusi Mhlungu owns three bicycle shops, Shop A, Shop B and Shop C.
He appointed a manager for each of these shops. You are supplied with
information regarding each of the shops. He wants to improve the financial

results of these shops and is asking your advice on them.

Each store calculates their selling price at cost plus 60%. Managers may
decide to adjust these prices by 10% if necessary.

REQUIRED:

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 (4)

3.2.2 Identify ONE problem relating to each shop. Provide figures to support

your answer. In each case provide a possible solution. (9)
SHOP A SHOP B SHOP C

Name of Managers M. Nxumalo S. Mthembu N. Shabalala
Targeted profit mark-up 60% 60% 60%
Mark-up achieved 60% 50% 65%
Sales 400 000 510 000 247 500

Cash sales 180 000 510 000 24 750

Credit sales 220 000 Nil 222 750
Number of employees 5 10 3
Gross profit 150 000 170 000 97 500
Period stock on hand 120 days’ 60 days’ 60 days’
Creditors’ payment period 21 days’ 60 days’ 110 days’
Debtors’ collection period 30 days’ None 90 days’
Bad debts 2 200 None 22 275
Salaries 105 000 210 000 63 000

Copyright Reserved

Please Turn Over

40

### Page 12

QUESTION 4: BANK RECONCILIATION

4.1 DAIRY TRADERS

The information relates to April 2025. The official Bank Statement is used for

reconciliation purposes.

REQUIRED:

(25 Marks; 20 Minutes)

2025 June Examination

4.1.1. Show the entries that must be recorded in the Cash Journals by
completing the table provided in the ANSWER BOOK.

4.1.2 Calculate the correct bank balance in the General Ledger on 30

April 2025.

4.1.3 Prepare the Bank Reconciliation Statement on 30 April 2025.

4.1.4 Provide ONE reason why the internal auditor should be concerned about

the control of cash. Provide a solution for his concern.

INFORMATION:

A. Bank Reconciliation as on 31 March 2025:

Debit Credit

Balance as per bank statement 2070
Outstanding deposit 12 490
Outstanding EFT : 161 (21 January 2025) 3 400

175 (28 March 2025) 960

176 (30 March 2025) 4 130
Debit balance as per the bank account 1930

B. The journals had the following totals for April 2025, before the information

below was taken into account:
Cash Receipts Journal (CRJ) R132 890
Cash Payment Journal (CPJ) R73 200

Copyright Reserved

Please Turn Over

(7)

(4)

(10)

(4)

### Page 13

2025 June Examination

Cc. The following items appear on the Bank statement but not in the
Journals:

e Interest on unfavourable bank balance, R420

e Monthly debit order for Easy Insurance, R3 000. Dairy Traders,
however, instructed the bank last month to stop all debit orders for
Easy Insurance.

e Adeposit of R12 490 on 1 April 2025.

e Adeposit of R8 500 was deposited by the tenant into the business
account.

e An EFT for R2 600 from a debtor was received in settlement of his
debt of R2 850.

e EFT 175 appeared on the bank statement incorrectly as R690.
e EFT 161 appeared on the bank statement with the correct amount
e Bank charges are shown as R3 450, after enquiring about the

amount, the bank admitted that they had made a mistake. The
amount should have been R1 550.

D. The following items appear in the journals but not on the bank statement:
e Adeposit of R23 100 deposited on 02 April 2025.
e EFT 191 for R950 was for donation to local school, it was discovered
that the school was closed permanently in January 2025, due to poor
results.

e EFT 201 for R5 100 and EFT 202 for R3 150

E; Bank statement balance is a balancing figure.

[25]

TOTAL: 150

Copyright Reserved

Please Turn Over

### Page 14

2025 June Examination

GRADE 12 ACCOUNTING FINANCIAL INDICATOR FORMULA SHEET

Gross profit X 100
Sales 1

Gross profit X 100
Cost of sales 1

Net profit before tax X 100
Sales 1

Net profit aftertax X 100
Sales 1

Operating expenses X 100
Sales 1

Operating profit X 100
Sales 1

Total assets : Total liabilities

Current assets : Current liabilities

(Current assets — Inventories) : Current liabilities

Non-current liabilities : Shareholders’ equity

(Trade and other receivables + Cash and cash equivalents) : Current liabilities

Average trading stock X 365

Cost of sales 1

Cost of sales
Average trading stock

Average debtors X 365
1

Credit sales

Average creditors X 365
1

Cost of sales

Net income after tax X 100
Average shareholders’ equity 1

Net profit after tax X 100

Number of issued shares

(*See note below)

1

Net income before tax + Interest on loans x

Average Shareholders’ equity + Average non-current liabilities

100
1

Shareholders’ equity X 100

Dividends forthe year_ X 100

1

Number of issued shares 1 Number of issued shares
Interim dividends X 100 Final dividends X 100
Number of issued shares 1 Number of issued shares 1

Dividends pershare X 100

Earnings per share 1

Dividends forthe year_ X 100

Net income after tax

1

Total fixed costs

Selling price per unit — Variable costs per unit

NOTE

In this case, if there is a change in the number of issued shares during a financial year, the
weighted-average number of shares is used in practice.

Copyright Reserved

Please Turn Over

## Related documents

- [Accounting Grade 12 NSC ANSWER BOOK P2 May June 2025 KZN](https://www.hlayiso.com/library/accounting-grade-12-nsc-answer-book-p2-may-june-2025-kzn/b9529d65-7fc3-420f-8a91-05ec30b0d61b) — Accounting · Addendum · 2025
- [Accounting Grade 12 NSC MEMO P1 May June 2025 Limpopo](https://www.hlayiso.com/library/accounting-grade-12-nsc-memo-p1-may-june-2025-limpopo/4bc5dfae-35c0-4acd-83c3-4b53266a3680) — Accounting · Memo · 2025
- [Acc P2 Memo ENg watermark](https://www.hlayiso.com/library/acc-p2-memo-eng-watermark/5c899e95-f3c2-4bf6-b539-ed8b1bcec50d) — Accounting · Memo · 2025 · Eng
- [Accounting P2 (English ) June 2025 Answer Book](https://www.hlayiso.com/library/accounting-p2-english-june-2025-answer-book-1/73bffe7c-1c96-49bd-af78-abb8db8c6618) — Accounting · Addendum · 2025 · Eng
- [Accounting P2 May-June 2025 MG Afr](https://www.hlayiso.com/library/accounting-p2-may-june-2025-mg-afr/62bf3c7c-f1bc-4bd9-878f-67ec5a7a2c38) — Accounting · Memo · 2025 · Afr
- [Accounting P2 Nov 2025 MG Afr](https://www.hlayiso.com/library/grade-12-accounting-2025-nsc-november-exam-memorandum-paper-2/4c11fbd4-960d-4f11-8cb5-c00f8f2cb8b5) — Accounting · Memo · 2025 · 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 (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
- [Accounting P1 (Afrikaans) June 2025 Possible Answers](https://www.hlayiso.com/library/accounting-p1-afrikaans-june-2025-possible-answers/2f10559b-54d6-47f4-9fc2-b2efc62644c4) — Memo · 2025 · Afr
- [Accounting P1 (English) June 2025 Possible Answers](https://www.hlayiso.com/library/accounting-p1-english-june-2025-possible-answers/86671777-58f6-4c82-932c-4924bae022c0) — Memo · 2025 · Eng
- [Accounting P1 May-June 2025 Answer Book Afr](https://www.hlayiso.com/library/accounting-p1-may-june-2025-answer-book-afr/7207c401-3dce-40c5-bd09-39c9787e0729) — Addendum · 2025 · Afr

## 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. When citing, link the page URL above, not a PDF or /api/ URL.