NW 12 ACCOUNTING P2 AB ENG JUNE 2025

NAME: NORTH WEST PROVINCIAL ASSESSMENT ACCOUNTING P2 GRADE 12 JUNE 2025 SPECIAL ANSWER BOOK Maximum Marks Question Topic Moderator Moderator Marks Awarded 1 Reconciliations 50 2 Cost Accounting 60 3 Inventory systems 40 Total 150 This answer book consists of 11 pages. Copyright reserved Please turn over

Accounting/P2 2 NW/June 2025 Grade 12 – Answer Book QUESTION 1: BANK AND CREDITOR RECONCILIATION, DEBTORS- AGE ANALYSIS AND INTERNAL CONTROL. 1.1 BANK RECONCILIATION THEORY True or false: 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 5 1.2 BANK RECONCILIATION 1.2.1 CRJ CPJ Provisional total 325 000 Provisional total 290 000 Balance per bank account at the end of June 2025. 15 Copyright reserved Please turn over

Accounting/P2 3 NW/June 2025 Grade 12 – Answer Book 1.2.2 Bank reconciliation statement on 30 June 2025 Debit Credit 6 1.2.3 Calculate the total credit card sales for the month. WORKINGS ANSWER 2 1.2.4 Refer to Information F. Suggest TWO internal controls to ensure this does not happen again in the future. 2 Copyright reserved Please turn over

Accounting/P2 4 NW/June 2025 Grade 12 – Answer Book 1.3 CREDITORS RECONCILIATION 1.3.1 Give TWO reasons why it is important for the company to prepare the Creditors Reconciliation Statement. 2 1.3.2 Calculate the correct Creditors Control Account balance after taking into account the relevant errors and omissions. Dr. Creditors Control Cr. 6 1.3.3 Calculate the correct balances of creditors taking into account errors and omissions. CREDITOR WORKINGS BALANCE Hunt 16 580 Wholesalers Tiger 24 620 Wholesalers Blackwood Manufacturers 10 Copyright reserved Please turn over

Accounting/P2 5 NW/June 2025 Grade 12 – Answer Book 1.4 DEBTORS-AGE ANALYSIS 1.4.1 Explain in detail the purpose of preparing a debtor’s age analysis. State TWO points. 2 50 Copyright reserved Please turn over

Accounting/P2 6 NW/June 2025 Grade 12 – Answer Book QUESTION 2: PRODUCTION COST STATEMENT, GROSS PROFIT AND UNIT COSTS. 2.1 Cost of shipment of imported raw materials Cost price: Carriage on purchases: Import duties: 3 2.2.1 Production cost statement for the year ending 30 June 2025 Direct labour (396 000 Primary costs Total manufacturing cost Work-in-process at the beginning of the year Production cost of finished goods 12 2.2.2 Direct material costs Total material cost 10 Factory overheads Consumables (15 000 Maintenance 48 000 Factory overhead cost 11 Copyright reserved Please turn over

Accounting/P2 7 NW/June 2025 Grade 12 – Answer Book Cost of finished goods sold Opening Balance of Finished Goods Closing Balance of Finished Goods 4 2.3 Calculate the gross profit for the year ending 30 June 2025. 3 2.4 Calculations: 2.4.1 Unit cost of producing each inverter. (Round off to the nearest rand). 3 2.4.2 Selling price of one inverter: (Round off to the nearest rand). 3 Copyright reserved Please turn over

Accounting/P2 8 NW/June 2025 Grade 12 – Answer Book 2.4.3 Calculate the break-even point and comment on it: Comment: 7 2.5 Give TWO reasons why the business should support local suppliers. Reasons: 2 2.6 The owner of Current Ltd is not satisfied with the profit he is making. The owner found an alternative supplier of raw materials. Discuss his decision and what the implications of this may be on the business. 2 60 Copyright reserved Please turn over

Accounting/P2 9 NW/June 2025 Grade 12 – Answer Book QUESTION 3 3.1 CONCEPTS Choose ONE term for each of the following descriptions by using the term in the list below. Write only the term next to the question number (3.1.1 to 3.1.3) in the ANSWER BOOK. 3.1.1 3.1.2 3.1.3 3 3.2 MY VELLIES 3.2.1 Calculate the value of the closing inventory using the weighted average method. 7 3.2.2 The missing units of inventory. 4 3.2.3 The average inventory holding period (in days). 5 Copyright reserved Please turn over

Accounting/P2 10 NW/June 2025 Grade 12 – Answer Book 3.2.4 The value of the closing inventory using the FIFO method. 5 3.2.5 The owner feels that it is better for the business to use the periodic inventory system rather than to use the perpetual inventory system. Briefly explain the difference between the two systems. 4 Copyright reserved Please turn over

Accounting/P2 11 NW/June 2025 Grade 12 – Answer Book 3.3 QUICK FRY Identify ONE problem in relation to each shop, quoting figures to explain the problem. In each case suggest to Julia how she could solve the problem. KLERKSDORP – Miyaz Moola Problem Explanation Solution to problem POTCHEFSTROOM - Daleen Coetzee Problem Explanation Solution to problem VRYBURG – Themba Ndaba Problem Explanation Solution to problem 12 40 Total: 150 Copyright reserved