0452 Accounting: MARK SCHEME For The May/June 2014 Series
0452 Accounting: MARK SCHEME For The May/June 2014 Series
0452 Accounting: MARK SCHEME For The May/June 2014 Series
0452 ACCOUNTING
0452/22 Paper 2, maximum raw mark 120
This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of
the examination. It shows the basis on which Examiners were instructed to award marks. It does not
indicate the details of the discussions that took place at an Examiners’ meeting before marking began,
which would have considered the acceptability of alternative answers.
Mark schemes should be read in conjunction with the question paper and the Principal Examiner
Report for Teachers.
Cambridge will not enter into discussions about these mark schemes.
Cambridge is publishing the mark schemes for the May/June 2014 series for most IGCSE, GCE
Advanced Level and Advanced Subsidiary Level components and some Ordinary Level components.
Page 2 Mark Scheme Syllabus Paper
IGCSE – May/June 2014 0452 22
Date Details Discount Cash Bank Date Details Discount Cash Bank
Allowed Received
2014 $ $ $ 2014 $ $ $
Apl 1 Balance b/d 75 Apl 1 Balance b/d 2 190
8 Moloi Stores (1) 84 5 Office equipment (1) 580
28 Sales (1) 2 500 Repairs (1) 40
30 Cash c (1) 2 215 21 Moloi Stores (dishonoured
Balance c/d 907 cheque) (1) 84
24 T Nekundi (1) 8 312
29 Drawings (1) 300
30 Bank c (1) 2 215
Balance c/d 60
Paul Katanga
T Nekundi account
$ $
2014 2014
Apl 17 Returns 64 (1) Apl 1 Balance b/d 320
Apl 24 Bank 312 } Apl 13 Purchases 208 (1)
Discount 8 } (1)
Apl 30 Balance c/d 144 ___
528 528
2014
May 1Balance b/d 144 (1) OF
[4]
Three column running balance presentation acceptable
[Total: 22]
2 (a)
(c)
credit purchases
cash purchases (1)
refund from credit supplier (1)
cheques paid to credit suppliers (1)
discount allowed (1)
discount received (1)
interest charged by credit supplier (1)
on overdue account
$5 300 365
(d) (1) × = 23.97 = 24 days (1) [2]
$80 700 1
[Total: 19]
3 (a) Profit/loss available for distribution (10 050 + 500) – (6600 + 5000) = (1050) (1)
Share of loss for each partner 1050 ÷ 2 = 525 (1) [2]
+ (1) Dates
Three column running balance presentation acceptable [7]
(e) The collection period for both years is within the period of credit allowed
The collection period is very satisfactory in each year
The collection period has increased in 2014
Or other suitable comments
Any two comments (1) each [2]
[Total: 17]
+ Dates (1)
Three column running balance presentation acceptable [7]
(d) The members have not invested any capital (1) so there can be no dividend which
represents a return on the amount invested (1) [2]
[Total: 21]
Debit Credit
$ $
Bad debts 150 (1)
Sabar Stores 150 (1)
Debt written off (1)
[6]
(d) Ensures that the profit for the year is not overstated (1)
Ensures that the trade receivables are not overstated (1) [2]
(e) The matching principle requires the costs for the year to be matched against the revenue of
the same period (1)
Comment relating this principle to provision for doubtful debts (1) [2]
[Total: 21]
6 (a)
Account $ Account $
2 Credit note, $210, received Pete 420 (1) Purchases 210 (1)
from a supplier, Pete, Purchases 210 (1)
entered as invoice returns
[6]
(b)
1 No effect (2)
(1) position
2 420 (1) figure
(1) position
(1) figure
3 88
[6]
(c)
Year ended
ratio
30 April 2014
Calculations
(e) Decreased
Or other suitable answer based on answer to (c) (1)
[Total: 20]