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CENTRE NUMBER

EXAMINATION NUMBER

NATIONAL SENIOR CERTIFICATE

ACCOUNTING P2
GRADE 12
NOVEMBER 2021

SPECIAL ANSWER BOOK

QUESTION MARKS INITIAL MOD.

1
2
3
4
TOTAL

This answer book consists of 12 pages.

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Accounting/P2 2 DBE/November 2021
NSC – Answer Book

QUESTION 1

1.1 Provide TWO documents that Zig Zag Traders will need from potential
debtors before they will be allowed to open accounts.

1.2 Refer to Information A and B.

Calculate: Correct closing balance of the Debtors' Control Account on
30 September 2021. Indicate changes with '+' for an increase, '–' for a
decrease or '0' for no change.

PROVISIONAL BALANCE 228 000

(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)

Calculate: Correct amounts owed by the following debtors only.

DEBTOR WORKINGS ANSWER

A Barnes (13 500

C Davis (25 000
E Foley (18 300
9

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Accounting/P2 3 DBE/November 2021
NSC – Answer Book

1.3 Refer to Information C.

Explain THREE different problems highlighted by the debtors' age
analysis. Provide the name of a debtor and/or the figure(s) in EACH
case.
NAME OF DEBTOR WITH
PROBLEM
FIGURES

1.4 Refer to Information D.

Provide TWO points to support the internal auditor's concern that
Susan's job description could lead to potential fraud.

TOTAL MARKS

30

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Accounting/P2 4 DBE/November 2021
NSC – Answer Book

QUESTION 2

2.1 PRUDY MANUFACTURERS

2.1.1 PRODUCTION COST STATEMENT FOR THE YEAR ENDED

28 FEBRUARY 2021

Direct material cost 1 494 000

Prime cost
Factory overhead cost
520 280

Cost of production of finished goods

10

2.1.2 ABRIDGED STATEMENT OF COMPREHENSIVE INCOME (INCOME

STATEMENT) FOR THE YEAR ENDED 28 FEBRUARY 2021

Sales 4 433 600

Cost of sales

Gross profit

Other expenses

Selling and distribution costs

224 960
Administration cost
187 760

Net profit for the year

11

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 Accounting/P2 5 DBE/November 2021
NSC – Answer Book

2.2 CONTROL OF RAW MATERIAL

2.2.1 Calculate the metres of fabric: Internal control strategy

Missing from the storeroom

Wasted in the factory

2.2.2 Calculate the total cost of fabric lost and wasted.

WORKINGS ANSWER

Explain how this loss should be shown in the statements mentioned in

QUESTION 2.1.

2.3 ROSEMARY'S TOY FACTORY

2.3.1 Provide a calculation to confirm that the break-even point for the 2021
financial year is correct.

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 Accounting/P2 6 DBE/November 2021
NSC – Answer Book

2.3.2 Explain why Rosemary is pleased with the production level, sales and
break-even point. Quote figures.

2.3.3 Explain to Rosemary why the fixed cost per unit decreased from R56,00
to R45,71.

2.3.4 Rosemary made deliberate decisions regarding variable costs to

improve the business.
Explain the decisions that she might have taken on these costs and how
these could have had positive effects on the business. Quote figures.
Cost Comment and positive effect (with figures)

Direct material
cost

Direct labour cost

Selling and
distribution cost
6

TOTAL MARKS

45

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Accounting/P2 7 DBE/November 2021
NSC – Answer Book

QUESTION 3

3.1 DEBTORS' COLLECTION SCHEDULE

Calculate the amounts indicated by (a)–(c)
Credit December January
Sales 2021 2022 Bad debts
R R R
Oct. 2021 308 000 67 760 (a)
Nov. 2021 319 200 143 640 70 224
Dec. 2021 364 000 103 740 (b)
Jan. 2022 352 800 (c)
315 140 6

3.2 Calculate the amounts indicated by (a)–(c) on the Cash Budget in

Information F
(a) Rent income for December 2021:
WORKINGS ANSWER

(b) Payment to creditors in January 2022

WORKINGS ANSWER

(c) Payment for cleaning services in January 2022

WORKINGS ANSWER

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Accounting/P2 8 DBE/November 2021
NSC – Answer Book

3.3 Workload of employees: Refer to Information G.

Provide TWO points that Brian can explain to his sales staff to justify
his plan. Quote figures.

4
Explain why the repair staff members are not satisfied with their
workload. Quote figures.

3
What suggestions can you offer to solve the problem of the workload
of employees? Provide TWO points.

3.4 Sales trends:

Comment on the cash and credit sales figures for November 2021.
Explain why Brian is concerned. Quote figures.

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Accounting/P2 9 DBE/November 2021
NSC – Answer Book

3.5 Comment on the control over fuel for the delivery vehicle and the
consumable stores used for repairs. Quote figures.

EXPENSE COMMENT (with figures)

Fuel for delivery
vehicle

Consumable
stores for repairs

TOTAL MARKS

35

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 Accounting/P2 10 DBE/November 2021
NSC – Answer Book

QUESTION 4

4.1.1 Calculate: Value of the closing stock on 28 February 2021

WORKINGS ANSWER

4.1.2 Calculate: Stock turnover rate

WORKINGS ANSWER

4.1.3 Comment on the stock turnover rates for boots and sandals and identify
the major problem relating to EACH product.
Comment on stock turnover
Identify major problem
rate (with figures)

Boots

Sandals

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 Accounting/P2 11 DBE/November 2021
NSC – Answer Book

4.2 FIXED ASSETS

4.2.1 List THREE points for good internal control over movable fixed assets.

4.2.2 Calculate: Cost of land and buildings purchased on 31 August 2020

WORKINGS ANSWER

4.2.3 Calculate: Depreciation on the vehicle for year ended 28 February 2021
WORKINGS ANSWER

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 Accounting/P2 12 DBE/November 2021
NSC – Answer Book

4.2.4 Calculate: Loss on photocopy machine traded in on 30 November 2020

WORKINGS ANSWER

6
Calculate: Depreciation on the new photocopy machine and on the
remaining old equipment for the year ended 28 February 2021

WORKINGS ANSWER
Depreciation on the new photocopy machine:

2
Depreciation on the remaining old equipment:

4.2.5 The CEO feels that the land and buildings are worth at least R10 000 000
and wants to adjust the figure in the Statement of Financial Position
(Balance Sheet) accordingly. Explain why the auditor does NOT agree.

TOTAL MARKS

40

TOTAL: 150

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