Accounting Grade 12 P2 Gauteng Mock 2025 Addendum (English)

PREPARATORY EXAMINATION 2025 10712 ACCOUNTING (PAPER 2) ANSWER BOOK 14 pages NAME OF SCHOOL: NAME OF LEARNER: MARKS QUESTION TOPIC MARKS OBTAINED 1 Reconciliations 40 2 Cost Accounting 40 3 Stock Valuation 35 4 Budgets 35 TOTAL 150 P.T.O.

ACCOUNTING ANSWER BOOK 2 (PAPER 2) 10712/25 QUESTION 1 1.1.1 BANK RECONCILIATION CASH RECEIPTS JOURNAL CASH PAYMENTS JOURNAL Amount Amount R102 675 R86 150 10 1.1.2 Bank Account balance in the General Ledger on 31 May 2025 WORKINGS ANSWER 4 P.T.O.

ACCOUNTING ANSWER BOOK 3 (PAPER 2) 10712/25 1.1.3 Choose only ONE template below to answer this question. TWO-COLUMN METHOD BANK RECONCILIATION STATEMENT ON 31 MAY 2025 DEBIT CREDIT 7 OR ONE-COLUMN METHOD BANK RECONCILIATION STATEMENT ON 31 MAY 2025 7 P.T.O.

ACCOUNTING ANSWER BOOK 4 (PAPER 2) 10712/25 1.1.4 Khaya has noticed that a long serving cashier has recently been experiencing cash shortages. Suggest TWO possible reasons for these shortages and provide a solution for each reason given. Reason Solution 4 1.1.5 Provide TWO reasons why Khaya authorises all EFT payments of his business. 2 P.T.O.

ACCOUNTING ANSWER BOOK 5 (PAPER 2) 10712/25 1.2 CREDITORS' RECONCILIATION 1.2.1 Use the table provided to indicate corrections that must be made to the Creditors’ Control Account and the Creditors’ List. Indicate changes with a (+) for an increase, a (–) for a decrease or a (0) for no change. CREDITORS’ CONTROL CREDITORS’ LIST ACCOUNT BALANCE 64 800 79 300 B C D E F Corrected Balance 9 1.2.2 PP Distributors is happy with the way Soweto Traders manages its account and is willing to increase its credit limit. Explain TWO actions taken by Soweto Traders that helped them to maintain a good relationship with the creditor. 4 TOTAL MARKS 40 P.T.O.

ACCOUNTING ANSWER BOOK 6 (PAPER 2) 10712/25 QUESTION 2 2.1 MAGIC WOOD MANUFACTURERS 2.1.1 Calculate direct/raw material costs. WORKINGS ANSWER 6 2.1.2 Calculate factory overhead costs for the year. Incorrect total 3 670 860 Correct total for factory overhead costs 9 2.1.3 PRODUCTION COST STATEMENT FOR YEAR ENDED 30 APRIL 2025 Prime costs PRODUCTION COST OF FINISHED GOODS 6 P.T.O.

ACCOUNTING ANSWER BOOK 7 (PAPER 2) 10712/25 2.1.4 Calculate the selling and distribution costs. WORKINGS ANSWER 3 2.1.5 Magic Wood donated window frames to a community school. The window frames were produced using offcuts that would otherwise have been wasted. Calculate the amount lost in terms of sales as a result of the wastage of the wood. WORKINGS ANSWER 4 2.2 KICK-IT-UP MANUFACTURERS 2.2.1 Explain why it is important to calculate the expected break-even point for a business before the start of a financial year. 2 P.T.O.

ACCOUNTING ANSWER BOOK 8 (PAPER 2) 10712/25 2.2.2 Nono was not anticipating an increase in profits. Explain to her how this happened. Provide TWO points. Quote figures. 4 2.2.3 Explain why total fixed cost increased but fixed cost per unit decreased. Quote figures. 2 2.2.4 Identify TWO costs (with figures) that have been well-controlled. For each cost, provide a possible action that Kick-it-up Manufacturers may have taken to keep these costs under control. COST (WITH FIGURES) ACTION/SOLUTION 4 TOTAL MARKS 40 P.T.O.

ACCOUNTING ANSWER BOOK 9 (PAPER 2) 10712/25 QUESTION 3 3.1.1 Calculate the value of the closing stock on 28 February 2025. Use the weighted-average method. WORKINGS ANSWER 3 Calculate the gross profit on 28 February 2025. WORKINGS ANSWER 5 3.1.2 Magesh has decided to evaluate his pricing policy. Advise him on ONE point he should consider when reviewing his pricing strategy. 2 3.1.3 Magesh is concerned about a decrease in profits. Give TWO potential factors that may lead to a reduction in profits. 2 P.T.O.

ACCOUNTING ANSWER BOOK 10 (PAPER 2) 10712/25 3.2.1 Calculate the value of the closing stock on 28 February 2025. Use the specific identification method. WORKINGS ANSWER 5 3.2.2 Saika watches Provide a calculation to confirm that the closing stock of Saika watches is expected to be sold in 8,9 days. WORKINGS ANSWER 3 3.2.3 Dempo watches Aya is confident that the Dempo model should NOT be out of stock. Provide a calculation to support his assumption. WORKINGS ANSWER 2 3.2.4 Aya has expressed his concern about customers trying on watches without staff supervision. Identify TWO potential problems that could arise from this practice and suggest a solution for each. PROBLEMS SOLUTIONS 4 P.T.O.

ACCOUNTING ANSWER BOOK 11 (PAPER 2) 10712/25 3.3.1 Comment on the stock holding period of winter jackets. Quote figures 2 What effect does this stock holding period have on Staysmart Fashions? 2 3.3.2 Nandi is concerned that the current pricing policy may lead to a future decline in customers. Calculate the percentage change and explain why Nandi should not be concerned. 3 3.3.3 Nandi is pleased with zero stock loss. Explain TWO security measures she may have implemented to help achieve this result. 2 TOTAL MARKS 35 P.T.O.

ACCOUNTING ANSWER BOOK 12 (PAPER 2) 10712/25 QUESTION 4 4.1 Calculate the total sales for June 2025. WORKINGS ANSWER 2 4.2 DEBTORS' COLLECTION SCHEDULE CREDIT MONTHS JULY AUGUST SALES MAY 320 000 48 000 JUNE 345 000 207 000 51 750 JULY 298 000 57 812 AUGUST 7 P.T.O.

ACCOUNTING ANSWER BOOK 13 (PAPER 2) 10712/25 4.3 Calculate the missing figures (i) – (iv) in the Cash Budget for the period ending 31 August 2025. (i) Loan amount acquired in August 2025 WORKINGS ANSWER (ii) Cash purchases of stock for August 2025 WORKINGS ANSWER (iii) Payments to creditors for July 2025 WORKINGS ANSWER (iv) Salaries and wages for August 2025 WORKINGS ANSWER 14 P.T.O.

ACCOUNTING ANSWER BOOK 14 (PAPER 2) 10712/25 4.4 Explain why these items may cause a challenge for the business. Provide ONE reason for each case. REASON Payments to creditors Insurance 4 There is a concern about the high advertising costs associated with printing pamphlets by the business, especially given the low sales return. Suggest and explain TWO modern and more cost-effective advertising methods that Edward could consider. PROPOSED METHOD EXPLANATION 4 4.5 Comment on the cash flow situation during May 2025. Make ONE suggestion to improve Ekasi Traders' cash problems. PROBLEM SOLUTION 2 Edward is considering opening a new branch in another province. Identify TWO challenges that may impact the business’s cash budget. 2 TOTAL MARKS 35 TOTAL: 150 END

PREPARATORY EXAMINATION 2025 10712 ACCOUNTING (PAPER 2) ANSWER BOOK