Accounting Grade 12 Paper 2 NSC June 2024 Addendum (English)

STICKER CENTRE NUMBER EXAMINATION NUMBER SENIOR CERTIFICATE EXAMINATIONS / NATIONAL SENIOR CERTIFICATE EXAMINATIONS ACCOUNTING P2 GRADE 12 MAY/JUNE 2024 SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 12 pages. Copyright reserved Please turn over

Accounting/P2 2 DBE/May/June 2024 SC/NSC – Answer Book Confidential QUESTION 1 1.1 BANK RECONCILIATION 1.1.1 Calculate the correct Bank Account balance on 31 May 2024. WORKINGS ANSWER 8 USE ONLY ONE OF THE FOLLOWING FORMATS FOR QUESTION 1.1.2: 1.1.2 Bank Reconciliation Statement on 31 May 2024 DEBITS CREDITS 6 OR 1.1.2 Bank Reconciliation Statement on 31 May 2024 6 Copyright reserved Please turn over

Accounting/P2 3 DBE/May/June 2024 SC/NSC – Answer Book Confidential 1.1.3 Explain TWO important instructions that Scot should give to Kiki to ensure that corruption does not occur with regard to the processing of EFTs. POINT 1 POINT 2 4 1.2 EXTRACT: LIST OF DEBTORS DEBTORS WORKINGS BALANCE A. Judy 27 750 B. Benior (400) C. Oliver 19 300 D. Fiery 2 900 12 TOTAL MARKS 30 Copyright reserved Please turn over

Accounting/P2 4 DBE/May/June 2024 SC/NSC – Answer Book Confidential QUESTION 2 2.1.1 Calculate the VAT amount on the goods sold by the business. WORKINGS ANSWER 4 2.1.2 Calculate the amount payable to or receivable from SARS on 30 April 2024. WORKINGS ANSWER 7 INVENTORY VALUATION 2.2 Calculate the expected cost price of one LITCHI phone in rands per unit. WORKINGS ANSWER 5 2.3 Calculate the total value of the closing stock of the CLEO and BRUMA phones on 29 February 2024, using the specific identification method. MODEL WORKINGS ANSWER CLEO BRUMA TOTAL 6 2024 Copyright reserved Please turn over

Accounting/P2 5 DBE/May/June 2024 SC/NSC – Answer Book Confidential 2.4 Calculate the average stock turnover rate for the CLEO phone for 2024. WORKINGS ANSWER 6 2.5 The directors took decisions to adjust the mark-up % on CLEO and BRUMA phones for the 2024 financial year. Explain how these decisions impacted on the gross profit and cash flow of the company as well as on the stock turnover rate of each model over the past two years. Quote figures and trends. CLEO BRUMA Explanation on gross profit & cash flow Explanation on stock- turnover rates 8 Copyright reserved Please turn over

Accounting/P2 6 DBE/May/June 2024 SC/NSC – Answer Book Confidential 2.6 If the directors go ahead with the LITCHI phones and order a lot more in the future and sell it at a mark-up of 40% on cost, how could this impact on the sales of the CLEO and BRUMA phones? Explain, quoting figures to support your opinion. 4 TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 7 DBE/May/June 2024 SC/NSC – Answer Book Confidential QUESTION 3 3.1 3.1.1 3.1.2 3.1.3 3 NARDO MANUFACTURERS 3.2 FACTORY OVERHEAD COST NOTE Incorrect amount calculated by bookkeeper 258 200 TOTAL 7 3.3 PRODUCTION COST STATEMENT ON 29 FEBRUARY 2024 Direct material cost Prime cost 1 405 800 Factory overhead cost Total manufacturing cost Work-in-progress (1 March 2023) 30 700 Cost of production of finished goods 10 Copyright reserved Please turn over

Accounting/P2 8 DBE/May/June 2024 SC/NSC – Answer Book Confidential HIKING BAGS 3.4 Comment on the control of hiking bags over direct material cost. Quote figures. Give TWO reasons that may have contributed to the change in the unit cost. REASON 1 REASON 2 4 3.5 Explain whether the decision to increase the selling and distribution cost of hiking bags was beneficial to the business or not. Quote figures. 3 3.6 Kyla plans to increase the production of hiking bags by an additional 2 500 units over the next financial year. Assuming no change to the current cost structure, calculate the additional net profit that she could expect to earn in 2025. WORKINGS ANSWER 5 Copyright reserved Please turn over

Accounting/P2 9 DBE/May/June 2024 SC/NSC – Answer Book Confidential HIKING JACKETS 3.7 Comment on the fixed cost per unit of hiking jackets and explain the major cause for the change in this unit cost. 4 3.8 Identify the production cost of hiking jackets that should be of serious concern to Kyla. Provide TWO valid solutions to this problem. SOLUTION 1 SOLUTION 2 4 TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 10 DBE/May/June 2024 SC/NSC – Answer Book Confidential QUESTION 4 4.1 DEBTORS' COLLECTION SCHEDULE MONTHS CREDIT SALES MAY JUNE MARCH 712 800 171 072 APRIL 792 000 356 400 MAY 871 200 206 910 JUNE 950 400 CASH FROM DEBTORS 734 382 8 4.2 Calculate: (i) Cash sales for June 2024 WORKINGS ANSWER 3 (ii) Payments to creditors in June 2024 WORKINGS ANSWER 4 (iii) Hire of delivery vehicle for May 2024 WORKINGS ANSWER 3 4.3 Calculate: % increase in salaries of office workers from 1 June 2024 WORKINGS ANSWER 4 Copyright reserved Please turn over

Accounting/P2 11 DBE/May/June 2024 SC/NSC – Answer Book Confidential 4.4 Explain how the competitor affected the sales and cash flow of the business in April 2024. Provide TWO different points, with figures. POINT 1 POINT 2 4 4.5 Explain whether Dan would be satisfied with the number of units sold in May 2024 as a result of his decision to adjust the selling price of the product. Provide TWO points, with figures. POINT 1 POINT 2 4 Copyright reserved Please turn over

Accounting/P2 12 DBE/May/June 2024 SC/NSC – Answer Book Confidential 4.6 Dan is aware that not all salespersons would be satisfied with the decisions he has taken regarding their earnings. Salesperson John was satisfied, whereas Sally was not. Give ONE reason to support John's opinion and ONE reason to support Sally's opinion. Quote figures. REASON TO SUPPORT JOHN REASON TO SUPPORT SALLY 4 4.7 Calculate the total loan amount, including interest. WORKINGS ANSWER 2 4.8 The owner is unsure about purchasing or renting the property. Explain ONE point in favour of purchasing the property and ONE point against this proposal. IN FAVOUR OF PURCHASING THE PROPERTY AGAINST PURCHASING THE PROPERTY 4 TOTAL MARKS 40 TOTAL: 150 Copyright reserved