Accounting Grade 12 P2 NSC November 2023 Addendum (English)

Downloaded from hlayiso.com STICKER CENTRE NUMBER EXAMINATION NUMBER NATIONAL SENIOR CERTIFICATE ACCOUNTING P2 GRADE 12 NOVEMBER 2023 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 11 pages. Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 2 DBE/November 2023 NSC – Answer Book QUESTION 1 1.1 BANK RECONCILIATION 1.1.1 TOTAL RECEIPTS TOTAL PAYMENTS 81 300 80 620 12 Bank balance in the General Ledger on 30 June 2023 WORKINGS ANSWER 4 1.1.2 Choose only ONE template below to answer this question. TWO-COLUMN METHOD BANK RECONCILIATION STATEMENT ON 30 JUNE 2023 DEBIT CREDIT 8 OR ONE-COLUMN METHOD BANK RECONCILIATION STATEMENT ON 30 JUNE 2023 8 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 3 DBE/November 2023 NSC – Answer Book 1.1.3 Explain TWO strategies that the business can use to address the problem of missing cash. 4 1.2.1 CREDITORS' RECONCILIATION CREDITORS' CREDITORS' NO. CONTROL LIST Provisional 175 940 186 350 balances (i) (ii) (iii) (iv) (v) 9 1.2.2 SEB Traders intend settling the account of Phuto Wholesalers on 31 August 2023. Calculate the amount due to them. WORKINGS ANSWER 64 950 3 TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 DBE/November 2023 NSC – Answer Book QUESTION 2 2.1 T2FIT MANUFACTURERS 2.1.1 Calculate direct material cost. WORKINGS ANSWER 4 2.1.2 Calculate factory overhead costs for the year. Incorrect total 600 000 Correct total for factory overhead costs 7 2.1.3 PRODUCTION COST STATEMENT FOR YEAR ENDED 28 FEBRUARY 2023 Direct labour costs 408 600 Total cost of production Cost of production of finished goods 5 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 DBE/November 2023 NSC – Answer Book 2.1.4 Calculate the cost of the wastage of raw materials. WORKINGS ANSWER 4 2.1.5 Mark is concerned about the increase in the cost of raw materials over the financial year. Provide TWO strategies that Mark can use to address the problem of wastage. 2 2.2 LIGHTING KINGS (PTY) LTD 2.2.1 Do a calculation to confirm that the 2023 break-even point of 149 145 units for Orion bulbs is correct. 3 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 DBE/November 2023 NSC – Answer Book 2.2.2 Identify and explain TWO cost items (with figures) that may have contributed to the increase in the cost of production per unit. Provide a reason in each case. Note that the current inflation rate is 7%. COST (with figures) REASON FOR CHANGE Point 1 Point 2 6 2.2.3 Explain whether the new Starlet bulbs were a good idea or not. Provide TWO points. Quote figures. 4 TOTAL MARKS 35 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 DBE/November 2023 NSC – Answer Book QUESTION 3 3.1 Identify TWO items that were incorrectly recorded in the Cash Budget. 2 Identify TWO items in the Cash Budget that would NOT appear in a Projected Statement of Comprehensive Income. 2 3.2 DEBTORS' COLLECTION SCHEDULE MONTHS CREDIT SALES NOVEMBER DECEMBER SEPTEMBER 535 500 42 840 OCTOBER 640 500 320 250 NOVEMBER 651 000 247 380 DECEMBER 682 500 CASH FROM DEBTORS 610 470 8 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 DBE/November 2023 NSC – Answer Book 3.3 Calculate: (i) Discount allowed in November 2023 WORKINGS ANSWER 3 (ii) Interest on savings account in December 2023 WORKINGS ANSWER 4 (iii) Payments to creditors in December 2023 WORKINGS ANSWER 3 (iv) Rent expense for November 2023 WORKINGS ANSWER 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 DBE/November 2023 NSC – Answer Book 3.4.1 Explain the changes that Adam made. 2 Explain why some of the salespeople regretted their decision to agree to these changes. Quote figures or show calculations. 3 Adam feels that the decision has benefitted the company, while the sales manager, Milly, is concerned that it did not benefit the company. Provide ONE point (with figures or calculations) to support EACH of these opinions. ADAM MILLY 4 3.4.2 Calculate the net effect of the purchase of the property on the receipts and payments in the Cash Budget. WORKINGS ANSWER 5 Give ONE reason why Adam has decided to go ahead with this purchase. 2 TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 10 DBE/November 2023 NSC – Answer Book QUESTION 4 4.1 4.1.1 4.1.2 4.1.3 3 4.2.1 Calculate the value of the closing stock on 28 February 2023. Use the specific identification method. WORKINGS ANSWER 6 4.2.2 Calculate how long (in days) it will take to sell the closing stock of the Hawi printers. WORKINGS ANSWER 4 4.2.3 Explain whether Sipho should be concerned about the stockholding periods of the Hawi and Yama printers. Quote figures. Give possible reasons for the difference in the holding periods of the two models. 6 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 11 DBE/November 2023 NSC – Answer Book 4.3.1 Calculate the cost price of vehicles on 1 March 2022. WORKINGS ANSWER 3 Calculate the trade-in value received on the vehicle disposed of on 1 June 2022. WORKINGS ANSWER 5 4.3.2 Explain to the bookkeeper why his method is incorrect: Provide a calculation to support your explanation: 4 4.3.3 Explain TWO possible points that the CEO can use to support his decision. 4 TOTAL MARKS 35 TOTAL: 150 Copyright reserved