Accounting Grade 12 Paper 2 NSC June 2023 Addendum (English)

Downloaded from hlayiso.com STICKER CENTRE NUMBER EXAMINATION NUMBER SENIOR CERTIFICATE EXAMINATIONS/ NATIONAL SENIOR CERTIFICATE EXAMINATIONS ACCOUNTING P2 GRADE 12 2023 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/2023 SC/NSC – Answer Book QUESTION 1 1.1 1.1.1 1.1.2 1.1.3 3 1.2 VIOLET STORES 1.2.1 UPDATE THE CASH JOURNALS FOR 30 APRIL 2023 CASH RECEIPTS JOURNAL CASH PAYMENTS JOURNAL Amount Amount Total 115 600 Total 217 800 10 1.2.2 Calculate the correct Bank Account balance on 30 April 2023. WORKINGS ANSWER 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 3 DBE/2023 SC/NSC – Answer Book 1.2.3 BANK RECONCILIATION STATEMENT ON 30 APRIL 2023 9 1.2.4 Violet noticed problems with the depositing of cash. Explain TWO measures that she can use to address these problems. 4 TOTAL MARKS 30 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 DBE/2023 SC/NSC – Answer Book QUESTION 2 2.1.1 Calculate: Value of the closing stock of the Arctic TV sets using the FIFO method on 28 February 2023 WORKINGS ANSWER 5 2.1.2 Calculate: Stockholding period (in days) of the Arctic TV sets using the closing stock figure on 28 February 2023 WORKINGS ANSWER 3 2.2.1 Calculate: Value of the closing stock of the Pacific TV sets on 28 February 2023 using the specific identification method WORKINGS ANSWER 4 2.2.2 Calculate: Gross profit on the Caspian Smart TV sets on 28 February 2023 WORKINGS ANSWER 3 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 DBE/2023 SC/NSC – Answer Book 2.2.3 Comment on the quarterly sales of the Pacific TV sets and explain whether or not Mandie's adjustment of the selling price was a wise decision. Quote figures or calculations. 4 2.2.4 Comment on the stockholding periods of the Pacific and Caspian TV sets. Quote figures or calculations. 4 Explain how the different holding periods affect the business financially. Quote figures or calculations. 4 Explain what these periods indicate about the preferences of the customers. Quote figures or calculations. 4 2.2.5 Provide TWO points of advice to Mandie on how she can rectify the high stock levels of some of her products without reducing prices offered to customers any further. 4 TOTAL MARKS 35 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 DBE/2023 SC/NSC – Answer Book QUESTION 3 3.1 LADOO MANUFACTURERS 3.1.1 FACTORY OVERHEAD COST TOTAL before corrections 2 638 600 8 3.1.2 PRODUCTION COST STATEMENT ON 28 FEBRUARY 2023 PRIME COST 12 500 000 TOTAL MANUFACTURING COST Work-in-progress at beginning of year 542 000 Work-in-progress at end of year COST OF PRODUCTION OF FINISHED GOODS 10 3.2 STYLZ MAKER 3.2.1 Do a calculation to confirm that the break-even point for 2023 is correct. 3 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 DBE/2023 SC/NSC – Answer Book Comment on the level of production and the break-even point for the past two years. Explain whether Lez Styles would be happy about the trends in these results and the profit he is earning. Provide figures or calculations. 4 3.2.2 Explain why Lez is not concerned about the fixed costs increasing to R6,1 m in 2023. Quote figures. 4 3.2.3 Identify how the selling and distribution costs in total and per unit changed over the two years. Quote figures. 2 Explain TWO reasons why Lez deliberately wanted to adjust this cost. Reason 1 Reason 2 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 DBE/2023 SC/NSC – Answer Book 3.2.4 Lez made specific decisions to improve the business and its product. Explain how the decisions he took have benefited the business by providing: TWO separate points relating to the raw material. Quote figures or calculations. Point 1 Point 2 6 TWO separate points relating to the direct labour. Quote figures or calculations. Point 1 Point 2 6 TOTAL MARKS 45 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 DBE/2023 SC/NSC – Answer Book QUESTION 4 4.1 PROJECTED STATEMENT OF CASH BUDGET NO. COMPREHENSIVE INCOME RECEIPT PAYMENT INCOME EXPENSE 4.1.1 4.1.2 6 4.2 ALICE FURNISHERS (PTY) LTD 4.2.1 DEBTORS' COLLECTION SCHEDULE CREDIT MAY JUNE JULY SALES April 882 000 485 100 194 040 May 891 800 164 983 490 490 June 921 200 170 422 July 931 000 650 083 854 952 7 4.2.2 Calculate: WORKINGS ANSWER (i) Cash sales for July 2023 (ii) Loan amount in June 2023 (iii) Payment to creditors in July 2023 8 4.2.3 Calculate the % increase that workers will receive in July 2023. WORKINGS ANSWER 3 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 10 DBE/2023 SC/NSC – Answer Book Give TWO reasons why you think that workers would be satisfied with this increase. Reason 1 Reason 2 2 4.2.4 Comment on the effectiveness of the advertising. Provide figures or calculations. 4 Alice is satisfied with the control over delivery expenses. Provide figures or calculations to justify her feelings. WORKINGS ANSWER 2 Alice is, however, concerned about the control over each vehicle. Identify a different issue (problem) for EACH vehicle that confirms her concern. Provide figures or calculations to justify her feelings. Vehicle 1 Vehicle 2 4 Provide TWO suggestions on how Alice can improve the use or efficiency of the vehicles. Suggestion 1 Suggestion 2 4 TOTAL MARKS 40 TOTAL: 150 Copyright reserved