0452/22/F/M/23 Mark Scheme – Accounting Feb/March 2023 Paper 22

All subjects

Download Open PDF

Cambridge Accounting (0452) mark scheme for paper 22, Feb/March 2023 — 0452/22/F/M/23, file 0452_m23_ms_22.pdf.

Loading the paper…

Text of this paper

www.dynamicpapers.com

Cambridge IGCSE™
ACCOUNTING

0452/22

Paper 2

February/March 2023

MARK SCHEME
Maximum Mark: 100

Published

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 International will not enter into discussions about these mark schemes.
Cambridge International is publishing the mark schemes for the February/March 2023 series for most
Cambridge IGCSE™, Cambridge International A and AS Level components and some Cambridge O Level
components.

This document consists of 15 printed pages.
© UCLES 2023

[Turn over

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles

February/March 2023
www.dynamicpapers.com

These general marking principles must be applied by all examiners when marking candidate answers. They should be applied alongside the
specific content of the mark scheme or generic level descriptors for a question. Each question paper and mark scheme will also comply with these
marking principles.
GENERIC MARKING PRINCIPLE 1:
Marks must be awarded in line with:
•
•
•

the specific content of the mark scheme or the generic level descriptors for the question
the specific skills defined in the mark scheme or in the generic level descriptors for the question
the standard of response required by a candidate as exemplified by the standardisation scripts.

GENERIC MARKING PRINCIPLE 2:
Marks awarded are always whole marks (not half marks, or other fractions).
GENERIC MARKING PRINCIPLE 3:
Marks must be awarded positively:
•
•
•
•
•

marks are awarded for correct/valid answers, as defined in the mark scheme. However, credit is given for valid answers which go beyond the
scope of the syllabus and mark scheme, referring to your Team Leader as appropriate
marks are awarded when candidates clearly demonstrate what they know and can do
marks are not deducted for errors
marks are not deducted for omissions
answers should only be judged on the quality of spelling, punctuation and grammar when these features are specifically assessed by the
question as indicated by the mark scheme. The meaning, however, should be unambiguous.

GENERIC MARKING PRINCIPLE 4:
Rules must be applied consistently, e.g. in situations where candidates have not followed instructions or in the application of generic level
descriptors.

Page 2 of 15

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

February/March 2023
www.dynamicpapers.com

GENERIC MARKING PRINCIPLE 5:
Marks should be awarded using the full range of marks defined in the mark scheme for the question (however; the use of the full mark range may
be limited according to the quality of the candidate responses seen).
GENERIC MARKING PRINCIPLE 6:
Marks awarded are based solely on the requirements as defined in the mark scheme. Marks should not be awarded with grade thresholds or
grade descriptors in mind.

Page 3 of 15

Cambridge IGCSE – Mark Scheme
PUBLISHED
Social Science-Specific Marking Principles
(for point-based marking)

0452/22

February/March 2023
www.dynamicpapers.com

Components using point-based marking:
• Point marking is often used to reward knowledge, understanding and application of skills. We give credit where the candidate’s answer
shows relevant knowledge, understanding and application of skills in answering the question. We do not give credit where the answer
shows confusion.
From this it follows that we:
a
b
c
d
e
f
g

DO credit answers which are worded differently from the mark scheme if they clearly convey the same meaning (unless the mark
scheme requires a specific term)
DO credit alternative answers/examples which are not written in the mark scheme if they are correct
DO credit answers where candidates give more than one correct answer in one prompt/numbered/scaffolded space where extended
writing is required rather than list-type answers. For example, questions that require n reasons (e.g. State two reasons …).
DO NOT credit answers simply for using a ‘key term’ unless that is all that is required. (Check for evidence it is understood and not used
wrongly.)
DO NOT credit answers which are obviously self-contradicting or trying to cover all possibilities
DO NOT give further credit for what is effectively repetition of a correct point already credited unless the language itself is being tested.
This applies equally to ‘mirror statements’ (i.e. polluted/not polluted).
DO NOT require spellings to be correct, unless this is part of the test. However spellings of syllabus terms must allow for clear and
unambiguous separation from other syllabus terms with which they may be confused (e.g. Corrasion/Corrosion)

Presentation of mark scheme:
• Slashes (/) or the word ‘or’ separate alternative ways of making the same point.
• Semi colons (;) bullet points (•) or figures in brackets (1) separate different points.
• Content in the answer column in brackets is for examiner information/context to clarify the marking but is not required to earn the mark
(except Accounting syllabuses where they indicate negative numbers).

Page 4 of 15

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

February/March 2023
www.dynamicpapers.com

Calculation questions:
• The mark scheme will show the steps in the most likely correct method(s), the mark for each step, the correct answer(s) and the mark
for each answer
• If working/explanation is considered essential for full credit, this will be indicated in the question paper and in the mark scheme. In all
other instances, the correct answer to a calculation should be given full credit, even if no supporting working is shown.
• Where the candidate uses a valid method which is not covered by the mark scheme, award equivalent marks for reaching equivalent
stages.
• Where an answer makes use of a candidate’s own incorrect figure from previous working, the ‘own figure rule’ applies: full marks will be
given if a correct and complete method is used. Further guidance will be included in the mark scheme where necessary and any
exceptions to this general principle will be noted.

Annotation:
• For point marking, ticks can be used to indicate correct answers and crosses can be used to indicate wrong answers. There is no direct
relationship between ticks and marks. Ticks have no defined meaning for levels of response marking.
• For levels of response marking, the level awarded should be annotated on the script.
• Other annotations will be used by examiners as agreed during standardisation, and the meaning will be understood by all examiners
who marked that paper.

Page 5 of 15

February/March 2023
www.dynamicpapers.com

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

1(a)

Saira
Cash Book
Date

Details

2023
Jan 1
2
13
20
27

Balance b/d
Rent receivable
Sales
Ivan
Bank

(1)
(1)
(1)
(1)

Disc
Alld

Cash

Bank

Date

2023

110

713
360
395
388

12
150

12
Feb 1 Balances b/d

260
103
(1)OF

Jan 4
7
17
27
29
31

Marks
13
Details

Jai
Motor expenses
David
Cash
Wages
Balances c/d

(1)
(1)
(1)
(1)
(1)

1856
1169
(1)OF

Disc
Rec

Cash

Bank

343
33

194
150
124
103

1 169

260

1 856

+ (1) OF both discount totals
+ (1) dates
1(b)

Effect on capital

decrease

Credit transfer from Saira’s personal bank account

increase (1)

The cheque from Ivan was dishonoured

decrease (1)

no effect (1)

Bank charges

Effect on bank balance
in cash book

Items to be adjusted

Page 6 of 15

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
1(c)

February/March 2023
www.dynamicpapers.com

Answer
User

Marks
3

Reason

Bank manager

to see if she will be able to repay loan/overdraft/interest (1)

Government

to see if she will be able to pay any tax which becomes due (1)

Trade payables

to see if she will be able to pay what she owes/consider whether to allow credit terms (1)

Accept other valid points
2(a)

Rai
Journal
Error
number
1
2
3
4
5

Details

Debit
$

Wages
Suspense

200 (1)

Purchases
Stella

494 (1)

Sales
Rent

100 (1)

Credit
$
200 (1)
494 (1)
100 (1)

Suspense
Motor expenses

75 (1)

Jasper
Suspense

27 (1)

75 (1)
27 (1)

Page 7 of 15

Question

Answer

2(b)

Rai
Suspense account
Date
2023
Jan 31

Details
Difference on trial balance
Motor expenses

2(c)
Draft profit
Error 1
Error 2

2(d)(i)

February/March 2023
www.dynamicpapers.com

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22

$
9 800
(200) (1)
(494) (1)

$
(1)
(1)

152
75
227

Date
2023
Jan 31

Marks
4

Details
Wages
Jasper

$
(1)
(1)

200
27
227

Error 4

(694)
9 106
75 (1)

Corrected profit

9 181 (1)OF

Assist in the preparation of financial statements (1)

Page 8 of 15

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
2(d)(ii)

Answer
Opening entries (1)
Purchase of non-current assets on credit (1)
Sale of non-current assets on credit (1)
Non-regular transactions (1)
Year-end transfers to income statement (1)
Recording depreciation (1)
Writing off irrecoverable debts (1)
Creation of/adjustment to provision for doubtful debts (1)
Contra entries between sales and purchases ledgers (1)
Drawings of goods/non-current assets (1)
Max (1)

Page 9 of 15

February/March 2023
www.dynamicpapers.com
Marks
1

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

3(a)

Lucas
Sales ledger control account
Date
Details
2023
Jan 1 Balance b/d
31 Sales

Feb 1 Balance b/d
3(b)

(1)

14 940
12 736

(1)OF

27 676
15 131

Marks

Date
Details
2023
Jan 31 Returns inwards
Cash
Bank
Irrecoverable debts
Contra
Balance c/d

$
(1)
(1)
(1)
(1)

463
6 675
210
180
8 413
15 941

Date
Details
2023
Jan 1 Balance b/d
31 Purchases
Interest

Feb 1 Balance b/d

6
$
(1)
}
}(1)
(1)
(1)

920
685
10 620
140
180
15 131
27 676

Lucas
Purchases ledger control account
Date
Details
2023
Jan 31 Returns outwards
Bank
Discount received
Contra
Balance c/d

3(c)

February/March 2023
www.dynamicpapers.com

Assist in locating errors (1)
Are proof of the arithmetical accuracy of the ledgers they control (1)
Provide the total of trade receivables and trade payables immediately (1)
Allow draft financial statements to be prepared quickly (1)
Provide a summary of transactions affecting trade receivables and trade payables (1)
May help to reduce fraud (1)
Max (2)

Page 10 of 15

(1)
(1)

8 450
7 325
166

(1)OF

15 941
8 413
2

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
3(d)

February/March 2023
www.dynamicpapers.com

Answer
For selling the equipment to pay supplier
Release funds to pay most of amount outstanding/increase liquidity (1)
Would reduce any interest supplier may charge (1)
Would maintain good relationship with supplier (1)
Would earn a profit on disposal (1)
May not affect the ability of the business to earn a profit (1)
New equipment could be purchased when funds are available (1)
Max (2)
Against selling the equipment to pay supplier
May have to pay interest to the supplier (1)
Will damage relationship with supplier if do not pay when requested (1)
Would not provide enough to pay the supplier in full/will have to pay rest from cash/bank(1)
May not be possible to operate efficiently without the equipment (1)
Would cost more to replace the equipment than the amount owing to the supplier (1)
Could consider obtaining money from elsewhere – trade receivables, bank overdraft, introducing capital etc.
Max (2)
Accept other valid points
Recommendation (1)

Page 11 of 15

Marks
5

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
4(a)

Answer
Gross margin
[Cost of sales = 3750 + 62 305 – 7500 = 58 555]
Gross profit = 98 000 – 58 555 = 39 445 (1)

February/March 2023
www.dynamicpapers.com
Marks
9

39 445 100

(1)OF whole formula = 40.25% (1)OF
98 000
1

Profit margin
Profit for year = 39 445OF – 31 188 + 4630 = 12 887OF
12 887
100
(1)OF 
= 13.15% (1)OF
98 000
1

Rate of inventory turnover
58 555
58 555 }
=
(1)OF = 10.41 times (1)OF
(3750 + 7500) / 2
5625 }
Liquid (acid test) ratio
9240 : (5365 + 5135) = 9240 : 10 500 (1) whole formula = 0.88:1 (1)OF
4(b)(i)

Answers based on answer to 4 (a)
Gross margin has improved (1)

The selling price has increased/trade discount allowed has decreased (1)
Cost of sales has decreased/increase in inventory (1)
Max (1)

Page 12 of 15

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
4(b)(ii)

February/March 2023
www.dynamicpapers.com

Answer
Answers based on answer to 4 (a)
The liquid (acid test) ratio has worsened (1)

Marks
2

More funds are tied up in inventory (1)
Increase in current liabilities (1)
Decrease in liquid current assets (1)
Max (1)
4(c)

For reducing selling price
Should increase total quantity sold (1)
Reduce inventory (1)
Should improve rate of inventory turnover (1)
Should reduce the risk of un-saleable inventory (damage/deterioration) (1)
May reduce storage costs if have less inventory (1)
May increase total cash received from sales/reduce bank overdraft /improve liquid (acid test) ratio (1)
Max (2)

Against reducing selling price
Would reduce gross margin (1)
Less cash received from each unit sold (1)
Customer may be unwilling to pay the full price in future (1)
Max (2)
Accept other valid points
Recommendation (1)
4(d)

Need to consider the amount of profit made since the end of the last financial year (1)
Need to consider the amount of inventory held at the present date (1)

Page 13 of 15

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

5(a)

Samir and Punita
Appropriation Account for the year ended 31 December 2022

Marks

$
Profit for the year
Add Interest on drawings
Samir
Punita

800 }
620 } (1)

Less Interest on capital
Samir
Punita

2 400 }
2 250 } (1)
4 650
11 000 (1)

Less Salary – Punita
Share of profit
Samir
Punita

6 222 (1)OF
4 148 (1)OF

5(b)

$
24 600

1 420
26 020

15 650
10 370 (1)OF

10 370

Punita
Current account
Date
Details
2022
Dec 31 Drawings
Interest on drawings
Balance c/d

$
(1)
(1) OF

12 400
620
12 713
25 733

February/March 2023
www.dynamicpapers.com

Date
Details
2022
Jan 1 Balance
Dec 31 b/d
Interest on capital
Salary
Profit share
2023
Jan 1 Balance b/d

Page 14 of 15

6
$

(1) OF
(1)
(1) OF

8 335
2 250
11 000
4 148
25 733

(1)OF

12 713

February/March 2023
www.dynamicpapers.com

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

5(c)

Increase

Marks
Decrease

Samir’s drawings

✓ (1)

Samir’s interest on drawings

✓ (1)

Advantages
Shareholders have limited liability (1)
Company is a separate legal entity (1)
May improve reputation/standing of the business (1)
Continuity of existence (1)
Max (2)

Disadvantages
More complex accounting required/have to produce annual financial statements (1)
More legal requirements (1)
May be costly to establish (1)
May be increased administration costs (1)
Max (2)
Accept other valid points
Recommendation (1)

✓ (1)

Partnership profit for the year

5(d)

No effect

Page 15 of 15

Accounting (0452) · Feb/March 2023 · Mark scheme 22

Popular subjects

Exam info

Help