CAMBRIDGE INTERNATIONAL EXAMINATIONSInternational General Certificate of Secondary EducationMARK SCHEME for the May/June 2013 series0452 ACCOUNTING0452/21Paper 2, maximum raw mark 120Mark schemes should be read in conjunction with the question paper and the Principal ExaminerReport for Teachers.Cambridge will not enter into discussions about these mark schemes.Cambridge is publishing the mark schemes for the May/June 2013 series for most IGCSE, GCEAdvanced Level and Advanced Subsidiary Level components and some Ordinary Level components.bestexamhelp.comThis mark scheme is published as an aid to teachers and candidates, to indicate the requirements ofthe examination. It shows the basis on which Examiners were instructed to award marks. It does notindicate the details of the discussions that took place at an Examiners’ meeting before marking began,which would have considered the acceptability of alternative answers.
Page 21Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(a) To record small cash paymentsRemoves small cash payments from the main cash bookReduces the number of entries in the main cash bookReduces the number of entries in the ledgerAllows the chief cashier to delegate some of the workProvides training for any junior staff membersAny 2 points (1) each(b) Chief cashier knows exactly how much is spent in each month/can control expenditure ofpetty cashThe cash remaining and the vouchers received should equal the imprestCan help reduce fraudAny 1 advantage (1)(c) See following page(d) At the month end (1) the totals debited to postage account (1)(e) Cheques not presentedAmounts not creditedCash book errorsAny 2 items (1) each(f) Standing ordersDirect debitsCredit transfersDishonoured chequesBank charges/interestBank errorsAny 2 items (1) each[Total: 21] Cambridge International Examinations 2013
Page 3Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21Question 1 (c)Annie Rongsen – Petty Cash BookTotalreceivedDate 201323Mar167 (1)DetailsBalanceTotal paidPostageTravelSundriesLedgeraccounts 19 (1)b/dBank/cash20 (1)4Postages198Taxi fares1613Loan repayment19Parcel post423R Singh2429Window Cleaner127531Balancec/d11035 (1) OF16 (1)4 (1)24 (1)12 (1)2316122435110Apr155 (1) OFBalanceb/dBank/cash(1) Dates(1) OF totals of analysis columns(1) OF totals and total columns Cambridge International Examinations 2013
Page 42Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(a)Ashraf ZayedIncome statement for the year ended 28 February 2013 RevenueCost of salesCost of productionPurchases of finished goods267 100 (1)4 300 (1)271 40019 600 (1)Less Closing inventory finished goodsGross profit 323 000 (1)251 80071 200 (1) OFHorizontal format acceptable(b) Production did not meet demandIt was cheaper to buy rather than makeCould not make those particular itemsNot economical to make such a small amountAny 2 reasons (1) each(c)Ashraf ZayedJournalDebit Income statementCredit 1130Carriage outwards(1)1130Transfer of carriage outwards to income statementIncome statement(1)600Provision for doubtful debtsCreation of provision for doubtful debts(1)(1)600(1)(1) Cambridge International Examinations 2013
Page 5Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(d)Ashraf ZayedMotor insurance account 2012Jun 1 Bank720 (1) 2013Feb 28 DrawingsIncomestatement360 (1)270 (1)OFBalance c/d7202013Mar 1 Balance b/d9072090 (1) OF (1) DatesAccept three column running balance presentation(e) The accruals (matching) principle requires the revenue of the accounting period to bematched against the costs of the same period. (1)The insurance relating to the financial year ended 28 February 2013 has been transferred tothe income statement. (1)(f)Overstated Profit of the year ended 28 February 2013270 (2) O/FUnderstated .(g) Applying the business (accounting entity principle the business is treated as beingcompletely separate from the owner. (1)Only the transactions of the business are recorded in the business’ books. (1)[Total: 24] Cambridge International Examinations 2013
Page 63Mark SchemeIGCSE – May/June 2013(a)Syllabus0452Paper21Sanath JafferTrial Balance at 31 January 2013Credit 53 000Debit Capital6 100Drawings66 000Revenue43 350Purchases1 150Purchases returns(2)3 700Inventory3 050Bank overdraft(2)5 320Trade receivables3 450Trade payablesGeneral expenses17 850Non-current assets50 40070Suspense (1)(1) OF(1) CF126 720126 720(b)DebitAccountCredit Account400(1)80(1)Purchases returns100(1)General expenses50(1)400(1)Non-current assets--(1)Suspense(iv) Suspense100(1)(v) Suspense50(1)(ii) General expenses(iii)  Cambridge International Examinations 2013
Page 7Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(c) EitherError number (i) (1)Reasons it is an error or omissionNeither a debit nor a credit entry has been made so the books balanceAny 1 reason (1)OrError number (ii) (1)Reason it is an error of principleA double entry has been made but in the wrong class of account.Any 1 advantage (1)(d) Money measurement(e) Realisation(f)(i) Work can be shared amongst several peopleEasier for reference as the same types of account are kept togetherEasier to introduce checking proceduresMake fraud more difficultAny 1 advantage (1)(ii) 1Any non-current asset, inventory, capital, drawings, loan, sales, purchases, returns,expenses, incomes, etc. (1)2Credit customers/debtors/trade receivables (1)3Credit suppliers/creditors/trade payables (1)[Total: 23] Cambridge International Examinations 2013
Page 84Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(a)Sildean LtdCalculation of retained profit for the year ended 30 April 2013 Profit for the year24 800Less Debenture interest1 600 (1)23 200Less Interim ordinary share dividend14 000 (1)Transfer to general reserve5 000 (1)19 000Profit retained in the year4 200 (1) CFAlternative forms of presentation acceptable(b)Sildean LtdBalance Sheet at 30 April 2013 CostNon-current assets206 000Current assetsInventoryPetty cashTrade receivablesProvision for doubtful debtsCurrent liabilitiesTrade payablesBank overdraftOther payables (deb. int.)Net current assets Depreciationto date12 500 Bookvalue193 50016 300}200}(1)15 40046214 156}7 982}(1)1 600 (1)14 938 (1)31 43823 7384% DebenturesCapital and reservesOrdinary shares of 0.50 eachGeneral reserve (10 000 (1) 5000(1))Retained profits (2000 (1) 4200 (1)OF)7 700201 20040 000 (1)161 200140 000 (1)15 0006 200161 200Horizontal format acceptable Cambridge International Examinations 2013
Page 9Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(c) (i) 31.438 (OF) : 23 738 (OF) (1)1.32 (1) OF(ii) (31 438 (OF) – 16 300) : 23 738 (OF) (1)0.64 (1) (OF)(iii) Shows whether the company can pay its immediate (current) liabilities from the liquidassets (current assets less inventory) (1)Indication of the liquidity of the company (1)Or suitable answer based on O/F answer to (ii)(iv) Issue additional sharesIssue additional debenturesObtain long term loanSell surplus non-current assetsReduced dividends paidReduce inventory levelAny 2 points (1) each(d) Ordinary shareholders are members of the companyOrdinary shares carry voting rightsOrdinary shareholders receive a dividendOrdinary share dividend is a share of the profitOrdinary share dividend is variableOrdinary share dividend is paid after any dividend on preference sharesOrdinary shareholders are repaid last in the event of a winding upAny 2 features (1) each(e) Debentures are loansDebenture holders are not members of the companyDebentures do not carry voting rightsDebentures carry a fixed rate of interestDebenture interest is not dependent on the company’s profitDebentures are often secured on the assets of the companyDebentures holders are repaid before the shareholders in the event of a winding upAny 2 features (1) each[Total: 26] Cambridge International Examinations 2013
Page 105(a)Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21Tom and Gill KayumbaStatement of corrected profit for the year ended 31 March 2013 Profit for the yearAdd Advertising prepaidGoods taken for own useMotor vehicle expenses accrued600 (2)1 000 (2)320 (2) 22 500Less Stationery purchased1 92024 420260 (2)Corrected profit for the year24 160 (1) O/FAlternative forms of presentation acceptable(b)Tom and Gill KayumbaStatement of corrected profit for the year ended 31 March 2013 Corrected profit for the year24 160 (1) O/FInterest on drawingsTom Kayumba1 040}Gill Kayumba1 300}(1)2 34026 500Interest on capitalTom Kayumba5% 60 000 6 mths1 500 (1)5% 80 000 6 mths2 000 (1)3 500Gill Kayumba5% 40 0002 000 (1)5 500Partnership salaryGill Kayumba(5000 (1) 7000 (1))12 00017 500Residual profit9 000Share of profitTom Kayumba2000 (1) (½ x 7000) (1) OF5 500Gill Kayumba½ x 7000 (1) OF3 5009 000Horizontal format acceptable Cambridge International Examinations 2013
Page 11Mark SchemeIGCSE – May/June 2013Syllabus0452Paper21(c) (i) To reward the partner investing more capitalTo encourage partners to invest in the businessAny 1 point (1)(ii) To discourage the partners from making drawingsTo discourage drawings early in the financial yearTo help the cash flow of the businessAny 1 point (1)(d) Selling goods at higher pricesPurchasing goods at lower pricesChange in proportions of different goodsAny 2 points (1) each(e) Year ended 31 March 2012 (1)The expenses/revenue were 11.90% in 2012 and 14.30% in 2013 (1)Although the profit for the year/revenue was higher in 2013 this was caused by an increasein gross profit/revenue (1)[Total: 26] Cambridge International Examinations 2013
0452 ACCOUNTING 0452/21 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 .
FINANCIAL ACCOUNTING : MEANING, NATURE AND ROLE OF ACCOUNTING STRUCTURE 1.0 Objective 1.1 Introduction 1.2 Origin and Growth of Accounting 1.3 Meaning of Accounting 1.4 Distinction between Book-Keeping and Accounting 1.5 Distinction between Accounting and Accountancy 1.6 Nature of Accounting 1.7 Objectives of Accounting 1.8 Users of Accounting Information 1.9 Branches of Accounting 1.10 Role .
Past exam papers from June 2019 GRADE 8 1. Afrikaans P2 Exam and Memo 2. Afrikaans P3 Exam 3. Creative Arts - Drama Exam 4. Creative Arts - Visual Arts Exam 5. English P1 Exam 6. English P3 Exam 7. EMS P1 Exam and Memo 8. EMS P2 Exam and Memo 9. Life Orientation Exam 10. Math P1 Exam 11. Social Science P1 Exam and Memo 12.
ACCOUNTING 0452/22 Paper 2 October/November 2018 1 hour 45 minutes Candidates answer on the Question Paper. No Additional Materials are required. READ THESE INSTRUCTIONS FIRST Write your Centre number, candidate number and name on all the work you hand in. Write in dark blue or black pen. You may use an HB pencil for any diagrams or graphs. Do not use staples, paper clips, glue or correction .
ACCOUNTING 0452/22 Paper 2 October/November 2017 1 hour 45 minutes Candidates answer on the Question Paper. No Additional Materials are required. READ THESE INSTRUCTIONS FIRST Write your Centre number, candidate number and name on all the work you hand in. Write in dark blue or black pen. You may use an HB pencil for any diagrams or graphs. Do not use staples, paper clips, glue or correction .
Cambridge IGCSE ACCOUNTING 0452/22 Paper 2 May/June 2020 MARK SCHEME Maximum Mark: 120 Published Students did not sit exam papers in the June 2020 series due to the Covid-19 global pandemic. This mark scheme is published to support teachers and students and should be read together with the question paper. It shows the requirements of the exam. The answer column of the mark scheme shows the .
IGCSE – Accounting 0452 9 reputation of the firm which equal the difference between the net assets and selling price of the firm. 16. Direct expense of manufacturing There are any expenses which a manufacturer can directly link with the product begin manufactured 17. Appropriation account That account which shows how the profit for the year has been used 18. Collection period for trade .
ACCOUNTING 0452/11 Paper 1 May/June 2018 1 hour 45 minutes Candidates answer on the Question Paper. No Additional Materials are required. READ THESE INSTRUCTIONS FIRST Write your Centre number, candidate number and name on all the work you hand in. Write in dark blue or black pen. You may use an HB pencil for any diagrams or graphs. Do not use staples, paper clips, glue or correction fluid. DO .
Artificial Intelligence: A Modern Approach Stuart Russell and Peter Norvig. 3rd Edition, 2010. 2 copies of are on 24hr reserve in the Engineering and Computer Science Library. Recommended but not required. Lecture notes cover much of the course material and will be available online before class.