0452/22/F/M/24 Mark Scheme – Accounting Feb/March 2024 Paper 22

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Cambridge IGCSE™
ACCOUNTING

0452/22

Paper 2

February/March 2024

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 f or
Teachers.
Cambridge International will not enter into discussions about these mark schemes.
Cambridge International is publishing the mark schemes f or the February/March 2024 series f or most
Cambridge IGCSE, Cambridge International A and AS Level components, and some Cambridge O Level
components.

This document consists of 17 printed pages.
© Cambridge University Press & Assessment 2024

[Turn over

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles

February/March 2024

These general marking principles must be applied by all examiners when marking candidate answers. They should be applied alon gside the
specific content of the mark scheme or generic level descriptions 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 assess ed 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 17

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

February/March 2024

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 fu ll 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 17

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

0452/22

February/March 2024

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 c lear 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 17

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

February/March 2024

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 t he 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 s hown.
• Where the candidate uses a valid method which is not covered by the mark scheme, award equivalent marks for reaching equivale nt
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 an d 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 exami ners
who marked that paper.

Page 5 of 17

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Annotation

Description

February/March 2024

Use

Tick

Indicates a point which is relevant and rewardable.

Cross

Indicates a point which is inaccurate/irrelevant and not rewardable.

Benefit of doubt

Used when the benefit of the doubt is given in order to reward a response.

An extraneous figure or item in the statement
OF

Own figure

Noted but no credit
given

Indicates that content has been recognised but not rewarded.

Repetition

Indicates where content has been repeated.

Page 6 of 17

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

1(a)

Gurjit
Cash Book
Date

Details

Disc
Alld
$

2024
Jan 1
4
19
25

Balance b/d
Sales
Uma
Bank

Bank

Date

2024

Balance b/d

1 490
640
415

100
–

Feb 1

Jan 7
13
21
25
31

Details

Sandy
Wages
Viraj
Cash
Balance c/d

275 2 545
155 1 700
(1)OF (1)OF

1(b)
Updating cash
book

Cheque from Uma dishonoured

✓ (1)

Bank charges

✓ (1)

Page 7 of 17

Disc
Rec
$
(1)
(1)
(1)
(1)

Bank
reconciliation
statement

Cash

Bank

551
120

35
(1)OF

✓ (1)

Bank error

Marks

Cash

175
(1)
(1)
(1)

February/March 2024

155

194
100
1 700

275

2 545

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
1(c)

February/March 2024

Answer
For:
Most payments are already being made from the bank (1)
Less risk of cash being stolen/less risk of fraud/greater security using bank transfers (1)
Cheques may be dishonoured/unpaid and reduced risk of stale/unpresented cheques (1)
Bank transfers are quicker than cheques (1)
Bank charges may reduce if there are fewer cheques (1)
May be time saving – do not have to visit bank to pay cheques in (1)
Max (3)

Marks
5

Against:
Customers/suppliers may prefer not to use bank transfers and deal in cash/cheques/may lose customers/sales (1)
Not all customers may have a bank account (1)
A charge may be incurred for electronic payments (1)
There may be technical issues with internet/card terminals (1)
Possible danger of internet banking fraud (1)
A petty cash book/petty cashier would be required (1)
Max (3)
Accept other valid points
Max (4)
Recommendation (1)
1(d)(i)

Bank overdraft – when more has been paid out of the business bank account than paid in resulting in an amount that is
owed to the bank (1)

1(d)(iI)

Bank charges – amount debited to/deducted from the business bank account to cover the bank’s costs of running the
account (1)

Page 8 of 17

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22

February/March 2024

Question

Answer

Marks

2(a)(i)

Samir
Journal

Date

Details

2023
Dec 31

2(a)(ii)

Debit
$

Irrecoverable debts
Ria
Amount due from Ria written off due to bankruptcy.

(1)
(1)
(1)

Credit
$

178
178

To comply with the prudence principle/avoid overstating the profit for the year/avoid overstating the trade receivables (1)
To comply with the matching principle/to ensure that a possible irrecoverable debt is recognised in the year in which the
sale was made (1)
It is unlikely that all the amounts due from trade receivable will be received (1)

Max 2
2(b)

Samir
Sales ledger control account
Date
2023
Jan 1
Dec 31

Details
Balance b/d
Sales
Interest charged

(1)
(1)

10 115
124 670
139

Date
2023
Dec 31

134 924
2024
Jan 1

Balance b/d

(1)OF

14 464

Page 9 of 17

9
Details

Sales returns
Bank
Cash
Contra
Discount allowed
Irrecoverable debts
Balance c/d

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

5 234
98 620
11 470
1 833
3 125
178
14 464
134 924

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
2(c)(i)

Answer
Advantages:
Customers would pay the full amount of each invoice (1)
Profit for the year may increase as expenses would be reduced (1)
Book-keeping would be less complicated (1)
May improve relationship with trade payables/may reduce trade payables turnover (1)
May be able to obtain cash discount from trade payables (1)
Trade payables may charge interest if payment made late (1)
Max (3)

February/March 2024
Marks
5

Disadvantages:
No incentive for customers to pay quickly/customers may take longer to pay (1)
Increased risk of irrecoverable debts (1)
Customers may buy less/go elsewhere/sales decrease/relationship with customers may deteriorate (1)
Over half of sales are made for cash so the removal of cash discount would have limited effect (1)
Max (3)
Accept other valid points
Max (4)
Recommendation (1)
2(c)(ii)

Increase selling price (1)
Reduce other expenses (1)
Reduce drawings/introduce additional capital (1)
Apply for a short-term loan/overdraft (1)
Charge interest on overdue accounts (1)
Improve credit control (1)

Accept other valid points
Max (1)

Page 10 of 17

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

3(a)

The Sporting Excellence Club
Subscriptions account
Date
2023
Jan 1
Dec 31
2024
Jan 1

Details

Balance b/d
(1)
Income and expenditure (1)OF
Balance c/d

Balance b/d

*(1)both

480
11 975
570
13 025
465

Marks

Date
2023
Jan 1
Dec 31
2024
Jan 1

February/March 2024

6
Details

Balance b/d
Bank/cash/cash book
Balance c/d

Balance b/d

(1)
(1)

610
11 950
465
13 025

570

+(1) dates
3(b)

The Sporting Excellence Club
Rent and insurance account
Date
2023
Jan 1
Dec 31

Details
Balance b/d
Bank/cash/cash book

(1)
(1)

2024
Jan 1

Balance b/d

(1)

Date
2023
240 Dec 31
7 390
7 630
250

Page 11 of 17

4
Details

Income and expenditure (1)OF
Balance c/d

$
7 380
250
7 630

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

February/March 2024

Answer

3(c)
Payments to trade payables
Add Closing trade payables
Less Opening trade payables
Purchases

$
23 290
2 470
25 760
2 140
23 620

Marks
3

(1)
*
*(1) both
(1) OF

OR
Bank
Balance c/d

23 290
2 470
25 760

Balance b/d
Purchases *

2 140
23 620
25 760

Bank (1)
2 Balances (1)
Purchases (1)OF
3(d)

The Sporting Excellence Club
Shop income statement for the year ended 31 December 2023
$
Revenue
Cost of sales
Opening inventory
Purchases
Closing inventory
Gross profit
Shop wages
Profit on shop (1)

2 500 *
23 620 (1)OF
(2 750) (1) *

$
31 890

23 370
8 520
3 268 (1)
5 252 (1)OF

* for both
3(e)(i)

The accumulated fund of a club consists of the total surpluses less total deficits which have arisen over the life of the clu b.
(1)

Page 12 of 17

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22

February/March 2024

Question

Answer

3(e)(ii)

The income and expenditure account of a club shows the surplus or deficit it has made, by deducting the expenses from its
gains/income. (1)

Question

Answer

4(a)

Sara
Inventory account
Date

Details

Marks

Marks
4

Date

Details

2023
5 811 Dec 31
5 811

Income statement

2023
Jan 1

Balance b/d

Dec 31

Income statement

(1)

6 275
6 275

2024
Jan 1

Balance b/d

(1)

6 275

$
(1)

Balance c/d

5 811
5 811
6 275
6 275

+ (1) dates
4(b)

Sara
Capital account
Date
2023
Dec 31

Details
Drawings
Balance c/d

$
(1)

Date

2023
19 260 Jan 1
116 713 Dec 31
135 973
2024
Jan 1

Page 13 of 17

3
Details

Balance b/d
Income statement

Balance b/d

(1)

115 793
20 180
135 973

(1)OF

116 713

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22

February/March 2024

Question

Answer

4(c)

Sara
Statement of financial position at 31 December 2023
$
Non-current assets
Premises
Fixtures and fittings
Current assets
Inventory
Trade receivables
Less Provision for doubtful debts
Cash

Cost
100 000
40 000
140 000

Marks

$
Accumulated
depreciation
–

15 000
15 000

$
Net Book
value
100 000
25 000
125 000 (1)

6 275
8 540
427

8 113 (1)
350

Capital and liabilities
Capital
Opening balance
Profit for the year
Less drawings
Non-current liability
Loan
Current liabilities
Trade payables
Other payables
Bank overdraft

5 125
1 000 (1)
4 900

Page 14 of 17

14 738
139 738

(1)OF

115 793
20 180
135 973
19 260
116 713

(1)

12 000

(1)

11 025
139 738

(1)OF

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question
4(d)

February/March 2024

Answer
Advantages
May be able to sell to customers in a wider area/to customers without own transport/customer convenience (1)
May increase gross profit/gross profit margin (1)
The delivery vehicle may be used to advertise the business (1)
Improved ability to compete with other traders (1)
The business currently has no vehicles/new vehicle may have other uses (e.g. collecting purchases) (1)
Max (2)

Marks
5

Disadvantages
Has a bank overdraft and a loan already so it may be difficult to obtain finance to buy the vehicle (1)
Must consider extra costs (fuel, insurance/depreciation/driver’s wages (1)
Any increase in sales/gross profit needs to be at least sufficient to cover the vehicle running costs (1)
The vehicle would have a limited useful life and would then need to be replaced (1)
Some customers/potential customers may be unwilling to pay the delivery charge/may switch to other suppliers (1)
Max (2)
Accept other valid points
Recommendation (1)
4(e)

Revenue receipts are amounts received by a business from its usual trading activities (1)

Page 15 of 17

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22

February/March 2024

Question

Answer

Marks

5(a)

Sunita
Journal

Error
number

Details

Debit
$

Purchases
(1)
Sales returns
(1)
Suspense
(1)
Correction of error of posting sales returns journal for
November 2023 (1)

3 524
3 524

5(b)

Credit
$

7 048

Sunita
Suspense account
Date
2023
Dec 31

Details
Sales
M. Patel
P. Mattel
Capital

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

19 415
129
129
5 000

Date
2023
Dec 31

Details
Trial balance difference (1)OF
Purchases
}(1)
Sales returns
}
Purchases
(1)
Rent expense
(1)

24 673
5(c)(i)
Original gross profit per draft financial statements
Error 1 ($3524  2)
Error 2
Error 3
Gross profit for the year after correcting errors

7
$
17 085
3 524
3 524
90
450
24 673

$
66 223
(7 048)
(90)
19 415
78 500

Page 16 of 17

4
(1)
(1)
(1)
(1)OF

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/22
Question

Answer

5(c)(ii)
Original profit for the year per draft financial statements
Adjustment from 5(c)(i) (78 500 – 66 223)
Error 6
Profit for the year after correcting errors
5(d)

Gross profit =

$
28 750
12 277 (1)OF
(450) (1)
40 577 (1)OF

78 500
100
OF 
(1) whole formula = $196 250 (1)OF
1
40

Page 17 of 17

February/March 2024
Marks
3

Accounting (0452) · Feb/March 2024 · Mark scheme 22

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