Accounting Grade 12 Paper 2 NSC June 2022 Addendum (English)

Downloaded from hlayiso.com STICKER CENTRE NUMBER EXAMINATION NUMBER SENIOR CERTIFICATE EXAMINATIONS/ NATIONAL SENIOR CERTIFICATE EXAMINATIONS ACCOUNTING P2 GRADE 12 2022 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 10 pages. Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 2 DBE/2022 SC/NSC – Answer Book QUESTION 1 1.1 VAT 1.1.1 Give ONE reason why Chuckles decided to register for VAT. 2 1.1.2 Calculate the amount of VAT that is payable to SARS for the two-month period ended 30 April 2022. WORKINGS ANSWER 9 1.1.3 Chuckles uses the money collected for VAT to pay business expenses. He does not have sufficient cash to make the VAT payments on the due dates. What would you say to Chuckles? State TWO different/separate points. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 3 DBE/2022 SC/NSC – Answer Book 1.2 CREDITORS' RECONCILIATION 1.2.1 STATEMENT CREDITORS' LEDGER RECEIVED FROM ACCOUNT OF LAWES LAWES WHOLESALERS WHOLESALERS Balance 67 870 46 590 (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) BALANCE 13 1.2.2 Mani feels that the creditors' clerk is not efficient in performing her duties. Provide evidence to support his opinion. 2 Explain how he can solve this problem. 2 TOTAL MARKS 30 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 DBE/2022 SC/NSC – Answer Book QUESTION 2 2.1.1 Calculate the following for the Production Cost Statement: WORKINGS ANSWER Direct material cost 6 Direct labour cost 6 Factory overhead cost 941 500 7 2.1.2 Abridged Statement of Comprehensive Income (Income Statement) for the year ended 31 March 2022 Sales 18 104 000 Cost of sales Gross profit Operating expenses Selling and distribution cost 866 400 Administration costs 532 200 Net profit for the year 11 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 DBE/2022 SC/NSC – Answer Book 2.2.1 Calculate the break-even point for shirts in 2022. WORKINGS ANSWER 4 2.2.2 Fiona has invested in new equipment to make the shoes. She knows that she has saved 10% of the fixed costs for shoes, but she cannot understand why the fixed costs per unit increased. Explain. Provide figures. 2 2.2.3 COST (with figures) SOLUTION SHIRT SHOE TIE 9 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 DBE/2022 SC/NSC – Answer Book QUESTION 3 3.1 3.1.1 3.1.2 3.1.3 3 3.2 RATO COOKWARE 3.2.1 Calculate the value of closing stock of pots on 28 February 2022. WORKINGS ANSWER 4 3.2.2 Lerato is unsure how long it will take to sell the closing stock of pots. Provide a calculation to address her concern. WORKINGS ANSWER Explain whether the period calculated is acceptable, or not. 5 3.2.3 Calculate the number of pots missing. WORKINGS ANSWER 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 DBE/2022 SC/NSC – Answer Book 3.2.4 Calculate the value of closing stock of microwave ovens. WORKING ANSWER SWIFT: DELTA: 7 3.2.5 TWO reasons in favour of the decision to discontinue selling the Delta model: ONE reason against the decision to discontinue selling the Delta model: 6 3.2.6 Identify the problem relating to the Swift microwave ovens on 6 January 2022. Quote figures. 2 State TWO internal control measures that the internal auditor should implement to ensure that such incidents do not occur in the future. 4 TOTAL MARKS 35 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 DBE/2022 SC/NSC – Answer Book QUESTION 4 4.1.1 DEBTORS' COLLECTION SCHEDULE MONTH CREDIT SALES JUNE 2022 JULY 2022 April 2022 567 000 68 040 May 2022 577 500 259 875 June 2022 598 500 227 430 July 2022 609 000 RECEIPTS FROM DEBTORS 555 345 7 4.1.2 Calculate: WORKINGS ANSWER (i) Commission income in July 2022 (ii) Bad debts written off in July 2022 (iii) Salaries and wages in June 2022 (iv) Discount allowed in June 2022 9 4.1.3 Calculate: WORKINGS ANSWER Payments to creditors in July 2022 4 Amount of the loan to be to be paid on 1 July 2022 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 DBE/2022 SC/NSC – Answer Book 4.2 FRAZILA (PTY) LTD 4.2.1 Explain whether Peter should be satisfied with the actual delivery cost in April 2022, or not. Quote figures. 3 Explain whether Peter made a good decision in changing the delivery service provider to Prime Deliveries, or not. Quote figures. 3 4.2.2 Apart from changing the delivery service, identify TWO other strategies that Peter implemented in May 2022 in response to the competitor. Quote figures. STRATEGY 1 STRATEGY 2 4 Explain how these other strategies have affected the sales and the profit. Quote figures. 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 10 DBE/2022 SC/NSC – Answer Book 4.2.3 Peter is confused about why the cash balances are not good despite the fact that sales increased in May 2022. Explain. Quote figures. 2 TOTAL MARKS 40 TOTAL: 150 Copyright reserved