Accounting Paper 2 (English)

November 2022 โ€” Grade 12 / Matric โ€” Accounting

Past Paper 2022 Grade 12 English Accounting Hub โ†’
โ†“ Download PDF Facebook X ๐Ÿ“„ 257.3 KB View Memorandum
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๐Ÿ“‹ Document Analysis

๐ŸŽฏ 35 marks ๐Ÿ“„ 10 pages ๐Ÿ“ 27 items found ๐Ÿ“š 7 topics
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Questions โ€” A Preview of What to Expect in the Document

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This section provides a quick preview of questions from the document. It may not display every question or the complete wording of each one. For the full content, including diagrams, tables and other information, view the original PDF above.
1.2WEZA STITCHES
1.2.1Calculate: Direct labour cost WORKINGS ANSWER Calculate: Factory overhead cost Total before corrections 541 600 Insurance Water and electricity
1.2.2Annie is concerned that fixed costs increased to 806 400. Explain why she should not be concerned. Provide TWO points. Quote figures. POINT 1 POINT 2 Accounting/P2
1.2.3Comment on whether the production staff deserve the production bonus that they received. Provide THREE points, with figures. POINT 1 POINT 2 POINT 3
1.2.4Annie wants to improve her profit by R50 000 during the next financial year while maintaining costs. Calculate the additional units that must be produced to achieve this target. WORKINGS ANSWER Accounting/P2
Q2โ€” Section header โ€”
2.1VAT Calculate the VAT amount that must be paid t o SARS for the VAT period ended 31 May 2022. WORKINGS ANSWER
2.2STOCK VALUATION MOUNTAIN BIKES
2.2.1Calculate the value of the closing stock on 28 February 2022, using the specific identification stock method. MODEL CALCULATIONS AMOUNT KING R666 000 PALO
2.2.2Explain TWO different examples of how the division of duties could prevent an incident such as this from occurring again in the future. EXAMPLE EXAMPLE
2.2.3Provide TWO points that show that Milo and his customers are happy with the quality of the Gama Bikes. Quote figures. POINT 1 POINT 2 POWDERED ENERGY DRINK (1 kg TUBS\
2.2.4Calculate the value of the closing stock on 28 February 2022, using the FIFO stock valuation method. WORKINGS ANSWER Accounting/P2 DBE/November
2.2.5Calculate the stockholding period (in days\on 28 February 2022. Use the closing stock figure. WORKINGS ANSWER
2.2.6Comment on your findings above. Provide TWO points, with figures. Note that the stockholding period for 2021 was 58 days. POINT 1 POINT 2
2.2.7Milo has noticed that some of the stock of energy drinks has exceeded the shelf life (sell by date\Identify the value of stock that Milo is referring to. WORKINGS ANSWERS
2.2.8Milo wants to sell the outdated stock at half the cost price. What advice would yo u offer him about this proposal? Provide TWO points. POINT 1 POINT 2 TOTAL MARKS
Q3โ€” Section header โ€”
3.1Complete the Creditors Payment Schedule for December 2022 CREDIT PURCHASES NOVEMBER DECEMBER
3.2Calculat e the missing figures (i\ (iii \he Cash Budget. NO WORKINGS ANSWER (i\ Collection from debtors: December 2022
3.3.1 Calculate the deposit that will be paid for the purchase of the company vehicle during December 2022. WORKINGS ANSWER Accounting/P2 DBE/November
3.2Juanita is concerned about the cash position for December 2022. She proposes moving the purchase of the vehicle to January 2023. Use the table below to show the effect of this proposal to the December
3.4Juanita is concerned about her decisions in October 2022 to adjust the mark up % and the amount actually spent on advertising. Provide TWO points to indicate whether these were wise decisions or not. Quote figures
Q4โ€” Section header โ€”
4.2BANK RECONCILIATION
4.2.1CASH RECEIPTS JOURNAL CASH PAYMENT JOURNAL 10 Amount Amount Total 101 200 Total
4.2.2Calculate the correct bank balance in the ledger on 31 July 2022. WORKINGS ANSWER
4.2.3BANK RECONCILIATION STATEMENT ON 31 JULY 2022 TOTAL MARKS 25 TOTAL: 150

Topics Identified

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Bank ReconciliationVATInventoriesManufacturingBudgetingDebtors ControlCreditors Control

Mark Allocation

Total150 marks

Paper information

SubjectAccounting
Year2022
SessionNovember
TypePast Paper
PaperPaper 2
LanguageEnglish
Pages10
Downloads9

Examination context

Decade2020s
Years ago4y
SeasonSpring (SH)
Start daySaturday
Exam periodNovember 2022
Days since exam1,449

About Accounting examination preparation

Grade 12 Accounting tests bookkeeping, financial statements, and interpretation of corporate data. Paper 1 covers VAT and manufacturing accounts, while Paper 2 tests partnerships and corporations.

Every available Grade 12 Accounting past paper and memorandum is collected in the Accounting hub at accounting.freemode.co.za โ€” browse all years, sessions and languages in one place.

How to use this resource for revision

A past examination paper is most useful when it is treated as an active revision exercise. Try the questions yourself before checking the corresponding memorandum. Where you make an error, identify the reason โ€” was it a knowledge gap, a calculation mistake, an interpretation issue, or an examination technique problem?

For stronger examination practice, complete the paper without unnecessary interruptions and keep track of the questions that take the most time. Afterwards, review the memorandum and separate knowledge gaps from mistakes caused by interpretation, calculation, structure, or examination technique.

accurate accounting calculations
interpreting financial information
applying accounting principles
presenting structured answers
checking numerical accuracy

A practical revision approach

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Corresponding marking memorandum

Marking memorandum available

Use the corresponding memorandum after completing the paper to review your answers and identify areas that require further revision. The memorandum shows the marking approach used by DBE examiners, including method-mark allocations.

Accounting Memo 2 (English) โ†’

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