NATIONAL

SENIOR CERTIFICATE

GRADE 12

ACCOUNTING P2
SEPTEMBER 2025
MARKING GUIDELINES

MARKS: 150
MARKING PRINCIPLES:
1. Unless otherwise stated in the marking guideline, penalties for foreign items are applied only if the
candidate is not losing marks elsewhere in the question for that item (no penalty for misplaced item).
No double penalty applied.
2. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is earning
marks on the figures for that item.
3. Full marks for correct answer. If answer incorrect, mark the workings provided.
4. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for that figure
(not the method mark for the answer). Note: if figures are stipulated in memo for components of
workings, these do not carry the method mark for final answer as well.
5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award
the mark. If no + or – sign or bracket is provided, assume that the figure is positive.
6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers
from candidates.
7. This memorandum is not for public distribution, as certain items might imply incorrect treatment. The
adjustments made are due to nuances in certain questions.
8. Where penalties are applied, the marks for that section of the question cannot be a final negative.
9. Where method marks are awarded for operation, the marker must inspect the reasonableness of the
answer and at least one part must be correct before awarding the mark.
10. Operation means 'check operation'. 'One part correct' means operation and one part correct. Note:
check operation must be +, -, x, ÷, or per memo.
11. In calculations, do not award marks for workings if numerator & denominator are swapped – this also
applies to ratios.
12. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at
least in part. Indicate with a .
13. Be aware of candidates who provide valid alternatives beyond the marking guideline.
14. Codes: f = foreign item; p = placement/presentation.

These marking guidelines consist of 10 pages.

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Accounting/P2 2 MDE/September 2025
NSC – Marking Guidelines

QUESTION 1

1.1.1 False 
1.1.2 False  3
1.1.3 True 

1.2.1 Show the entries that must be recorded in the Cash Journals.

CASH RECEIPTS JOURNAL CASH PAYMENT JOURNAL

Amount Amount 6
R369 000 R286 500
1 400  29 500 
4 600  350 
16 500 

R375 000 R336 360

1.2.2 BANK RECONCILIATION STATEMENT ON 31 AUGUST 2025

ONE DEBIT CREDIT
COLUMN
METHOD
Balance per Bank R33 000
R33 000 
Statement
Credit outstanding deposit R12 000 R12 000 
Debit outstanding EFT:
No 189 (7 660) 7 660 
No 200 (3 510) 3 510 
Credit incorrect amount 1 300 R1 300 
Balance as per Bank 35 130 Balancing 7
R35 130  figure
Account
R46 300  R46 300
Both totals

1.2.3 State the GAAP principle that applies to this decision.

Principle of prudence 
1
Any two valid point  

• Consider using cash in transit services.

• Regular and timely supervision / monitor cash.
• Cash must be deposited daily
• Encourage EFT payment by customers
• Request the bank to send confirmation of all transactions 4

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Accounting/P2 3 MDE/September 2025
NSC – Marking Guidelines

1.3 CREDITORS RECONCILIATION

1.3.1 Use the table provided to indicate the changes that must be made in the
Creditors’ Control ledger and Creditors’ reconciliation statement

Creditors’
Creditors’ Ledger reconciliation
statement
Provisional balance/total R 147 820 R145 060
(i) + 1 800 ✓✓

(ii) - 40 950 ✓

(iii) + 30 000 ✓✓

(iv) - 5 400 ✓

(v) - 8 100 - 8 100

1 mark 1 mark
✓✓
-16 200

(vi) - 77 190 ✓
10
92 470  92 470
Both totals

1.3.2 The internal auditor insists that direct payments (EFT) must be used to
pay suppliers explain.

One reason to support her decision. ✓✓

It is quick and easy / easier to monitor / efficient / convenient / safer / less
bank charges. 2
One internal procedure to ensure control over this system. ✓✓

• Senior personnel authorised to make internet payment.

• Two people to authorise an FET transaction
• Security codes for users
2
• Notification from bank when payment is effected

TOTAL MARKS 35

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Accounting/P2 4 MDE/September 2025
NSC – Marking Guidelines

QUESTION 2

BEDROOM SETS

2.1 Calculate the value of closing stock using FIFO.

Workings Answer

If 280 – units in first part one part correct

(230 x 1 100 ) (50 x 990 ) R302 500 
253 000  + 49 500✓ 6

2.2.1 Calculate the % mark-up achieved in 2025.

Workings Answer

3 480 000 – 2 170 500 one part correct

1 309 500  x 100 60,3% 
2 170 500 4

2.2.2 Provide TWO points (with figures) to prove that this decision
achieved its aims.
TWO different& valid points✓ ✓Figures ✓ ✓

• Sales increased to R3 480 000 (from R3 375 000) / by R105 000 /by
3,1%
• Number of customers increased to 37 (from 26) / by 11 / by 42% 4

2.2.3 The CEO feels that this decision also negatively affected the
company. Provide TWO points (with figures) to support his opinion.
Do not accept Mark-up %

TWO different & valid points✓ ✓ Figures✓ ✓

• Gross profit decreased to R1 309 500 (from R1 425 000) / by R115
500 / by 8,1%
• Cost of sales increased to R2 170 500 (from 1 950 000) / by R220 500
/ by 11,3%
• Average units per customer dropped to 63 (from 96) (2 500/26)
(2 320/37) / by 33 / by 34%
• Units sold dropped by from 2 500 to 2 320 / by 180 / by 7,2% 4

Give the directors advice to solve this problem. Explain TWO points.

TWO different & valid points✓✓ ✓✓

• Restrict (be selective with) trade discounts to good customers only

• Find a cheaper supplier (to compensate for keeping selling prices low)
• Increase marketing / advertising in areas outside the current areas
targeted
• Provide other incentives such as after-sales services, maintenance or
free deliveries.
4

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Accounting/P2 5 MDE/September 2025
NSC – Marking Guidelines

KITCHEN SETS

2.3 Calculate the value of the closing stock of Kitchen sets on July 2025
using Specific Identification Method (SIM).
Working Answer
7 800 000 ✓ – 2 580 000 ✓✓ = R5 220 000
(4 800 000 + 3 000 000) (430 x 6 000) three marks
[(800 + 500) x 6 000]
Metallic
OR 870 two marks x R6 000 one mark
(1 300 – 430) one part correct

10 440 000 ✓ – 3 888 000 ✓✓ = R6 552 000 R11 772 000

(6 840 000 + 3 600 000) (540 x 7 200) three marks 
(1 450 x R7 200)
Wooden:
OR 910 two marks x R7 200 one mark 7
(1 450 – 540)

2.4 Explain THREE different concerns that Apple would have about this
problem.

THREE different & valid concerns ✓✓ ✓✓ ✓✓ part marks for partial or incomplete answers
• Directors engaging in fraud and corruption / bribes / conflict of
interests
• Unethical behaviour of CFO places the company placing at risk
• Image of the company negatively affected / will affect the share price
and further investments from potential investors
• High stock value is tied up in stock / Obsolete / Affects liquidity
• Shareholders may want to sell their shares
6
• It will negatively affect the audit report
• Business will lose goodwill as it is unethical

TOTAL MARKS 35

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 Accounting/P2 6 MDE/September 2025
NSC – Marking Guidelines

QUESTION 3: COST ACCOUNTING

3.1 PLAN-B MANUFACTURES

3.1.1 Calculate the direct material cost for the year ended 31 August 2025.
Workings Answer

84 800✓ + 1 492 500✓ + 77 000✓ – 1 500✓ – 75 200✓ R1 577 600*

*one part correct

3.1.2 Calculate the correct factory overhead cost for the year ended
31 August 2025.
Foreman’s salary 396 000 ✓

Depreciation on factory equipment 173 120 ✓

Rent expense (214 480 x 5/7) 153 200 ✓✓

Water and electricity (237 040 x 75%) 177 780 ✓✓

Insurance (69 690 x 2/3) 46 460 ✓✓

Indirect material (45 200 x 65%) 29 380 ✓✓

975 940 *
*one part correct 11

3.1.3 Production Cost Statement for the year ended 31 August 2025.

Direct material cost see 3.1.1 1 577 600 

Direct labour cost Balancing amount: PC – DMC 672 460 

Prime cost 2 250 060 

Factory overhead cost see 3.1.2 975 940 

Total manufacturing cost 3 226 000 

Work-in-progress (1 Sept 2024) 55 200 ✓

3 281 200

Work-in-progress (31 Aug 2025) (73 600) ✓

Cost of production of finished goods (396 x R8 100) 3 207 600 ✓✓

9
*Check operation; -1 foreign item, max. 2

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 Accounting/P2 7 MDE/September 2025
NSC – Marking Guidelines

EFEMINI LTD

Working in square brackets constitute one part, cannot be separated

3.2.1 Calculate the break-even point for the year ended 31 August 2025.
Workings Answer
1 014 units 
[307 200+ 240 000] *one part correct
547 200 ✓ .
1 720 ✓ – 1 180 ✓ Accept 1 013 /
540 two marks 1 013,3 4

3.2.2 Compare and comment on the break-even point and the level of production
for 2024 and 2025. Quote figures.
Compare BEP with level of production for 2025 (with figures) ✓✓
Compare figures for 2024 and 2025 (with figures) ✓✓

• Efemini Ltd did not break even in 2025. The break-even was 1 014 (See 3.2.1)
and only 960 units were produced and sold / loss made on 54 units.
• In 2024 the break-even was 1 016 and units produced and sold were 1 080/
profit made on 64 units / break-even decreased by only 2 units, but units
4
produced and sold decreased by 120 units in 2025

3.2.3 Provide TWO possible reasons for the increase in direct material cost per
unit for the current financial year and suggest ONE ways in which this can
be controlled.
TWO REASONS: ONE SUGGESTION:
Any TWO reason ✓✓ ✓✓ Any suggestion ✓✓

• Theft of material due to poor • Improve internal control to prevent

internal control theft / Monitor production
• Better quality raw material was used • Look for cheaper suppliers / buy
• Increase in transport cost/fuel prices local to save on transport cost / buy
• Increase in wastage / untrained in bulk to qualify for discounts
workers • Train workers to minimise wastage
• New suppliers charge higher prices • Control stock to identify shortages
• Use cutting patterns / cutting
machines
• Maintaining of machines
• Use material of better quality /
change supplier
• Pay bonuses for minimising
wastage
• Use offcuts for related products
6

TOTAL MARKS 40

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Accounting/P2 8 MDE/September 2025
NSC – Marking Guidelines

QUESTION 4

4.1 Explain the main purpose of a Cash Budget and a Projected Income
Statement.
Any valid explanation ✓ ✓ ✓ ✓
Cash Budget Projected Income Statement

To predict the cash balance at the end To predict the profit that will be earned
of a period. for a period

4.2 Identify TWO items that should be recorded in the Projected Income
Statement but not recorded in the Cash Budget.

Any two valid items  

Depreciation, bad debts, discount allowed , discount received 2

4.3 GAS STOVE SUPPLIERS

4.3.1 Calculate the credit purchases for October 2025.

WORKINGS ANSWER

171 000 two marks

102 600✓ x 100/60✓ x 100/125 ✓ 136 800 
one part correct
OR [102 600 x 100/125]
82 080 x 100/60
two marks one mark
4

CREDITORS' PAYMENT SCHEDULE FOR NOVEMBER 2025

MONTH CREDIT
OCTOBER NOVEMBER
PURCHASES
August 147 200 66 240 Superfluous entry; lose
method on total
September 132 800 69 388 59 760 ✓
October 136 800  71 478  
See 4.3.1 must be x [55% x 95%]
three marks if credit
purchase not shown.
135 576 131 238 
5

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Accounting/P2 9 MDE/September 2025
NSC – Marking Guidelines

4.3.2 (i) Rent expense for November 2025

WORKINGS ANSWER
1.07
28 400 x 107
100
OR 30 388 ✓✓
(28 400 x 7%) two marks or
nothing
28 400 + 1 988 2

(ii) Salaries for October 2025

WORKINGS ANSWER

143 800 ✓ x 9 ✓ 103 536

1 12,5 one part correct
3

(iii) Insurance for November 2025

WORKINGS ANSWER
[4 500 x 28/100]
16 900 ✓ + 1 260 ✓
18 160 
OR [4 500 x 128/100] [16 900 – 4 500] one part correct
5 760 + 12 400
one mark one mark
3

(iv) Interest on loan for November 2025

WORKINGS ANSWER
59 400 x [14/100 x 1/12]
2 800✓– 693 ✓ 
OR 2 107 
one part correct
2 800 x 100/14 x 12/1

[240 000 – 59 400]

180 600 x [14/100 x 1/12] 4

one mark one m. mark one mark

(v) Deposit to be paid on 31 October 2025 for the new computers

installed.
WORKINGS ANSWER

[9 200 x 36] [100/80 x 20/100]

331 200✓ x 20/80 ✓
82 800 
OR [331 200 x 100/80] [9 800 x 36] one part correct
414 000 – 331 200
one mark one mark

OR 414 000 x 20/100 3

one mark one mark

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Accounting/P2 10 MDE/September 2025
NSC – Marking Guideline

4.3.3 Explain the change in the sales policy that has been effected by Praise.
Provide ONE point with figures.
Change in cash sale / change in credit sales ✓✓

• Cash sales changed (from 40%) to 59% / (from R57 400) to R95 400 /
by R38 000 / by 65,5% / by 20 % points.

OR

• Credit sales changed (from 60%) to 40% / (from R86 400) to R63 400 /
by R23 000 / by 26,4% / by 20 % points. 2

The actual credit sales for September 2025 were higher than the budgeted
credit sales. Explain why Praise should not be concerned.
Provide TWO points with figures.
Any valid explanation ✓ ✓ Figures ✓ ✓

• The number of customers grew (from 480) to 669 / by 189 / by 39,3%.

• Gross profit has improved (from R59 400) to R82 275/ by R22 875 / by
38,5%.
• Total sales has improved (from R158 800) to R219 800 / by R61 000 /
by 38,4%.
Do not accept comparison to September figures. 4

Praise is satisfied with the control over delivery expenses, however,

concerned about the control over packing materials for September 2025.
Comment and provide figures or calculations to justify his concern.
Any valid comment (with figures) ✓ ✓ ✓ ✓
Must be compared to sales.
Do not accept comparison to September figures.

Delivery expenses • Effective control budgeted at 15% of sales; actual is

15% of sales. (100% utilised).

• Overspent by R9 150 / (from R23 400) to R32 550 /

by 39,1%, while total sales also increased by 38,4%
only / actual sales of R219 800 exceeds the budgeted
sales (R158 800).
• Not well controlled; actual exceeded budgeted by
33,3% / budgeted for 9% on sales and 12% has been
Packing material spent.
• Overspent by R12 120 (from R13 800) to R25 920 /
by 87,8%, while total sales increased by 38,4% only. 4

TOTAL MARKS 40
TOTAL 150

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