0452/22/M/J/23 Mark Scheme – Accounting May/June 2023 Paper 22

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Cambridge Accounting (0452) mark scheme for paper 22, May/June 2023 — 0452/22/M/J/23, file 0452_s23_ms_22.pdf.

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Cambridge IGCSE™
ACCOUNTING

0452/22

Paper 2

May/June 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 May/June 2023 series for most
Cambridge IGCSE, Cambridge International A and AS Level and Cambridge Pre-U components, and some
Cambridge O Level components.

This document consists of 19 printed pages.
© UCLES 2023

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0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles

May/June 2023
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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.

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Cambridge IGCSE – Mark Scheme
PUBLISHED

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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 19

0452/22

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

May/June 2023
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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).

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0452/22

Cambridge IGCSE – Mark Scheme
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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 19

0452/22
Question

Answer

1(a)
Date

Details

2023
Apr 1
3
10
23

Balance b/d
Capital
Sales
Esme

Disc.

Cash

May 1 Balance b/d

Omer
Cash Book
Bank Date
$

120
(1)
(1)
(1)

1 000
695
384

16*

120
52
(1)OF

Marks
11
Details

2023
Apr 1
7
15
16
27
30

2079
519
(1)OF

*both discount totals
+(1) dates

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Cambridge IGCSE – Mark Scheme
PUBLISHED

Page 6 of 19

Balance b/d
Alexander
Motor expenses
Rent payable
Alexander
Balance c/d

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

Disc.

Cash

Bank

$
477
360
68
52

400
323
519

120

2079

17
17 (1)*

0452/22

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Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

1(b)

Omer
Alexander account
$
Date

Date

Details

2023

Marks
4
Details

2023

Apr 7

Bank

}

Discount received

} (1)

(1)

Balance c/d

360

Apr 1

Balance b/d

360

323

Purchases

}

340

Purchases

} (1)

235

235
935

935
May 1

1(c)

(1)OF

235

Option 1 – buy from Alexander only
Advantages
A offers cash discount but T does not (1)
A offers 5% cash discount (1)
A’s cash discount is a higher % than T’s trade discount (1)
Maintain good relationship with A (1)
Familiar with A’s quality/reliability (1)
(Max 3)
Disadvantages
T offers trade discount but A does not (1)
May lose cash discount by not paying on time (1)
Depending on one supplier only (1)
A has no incentive to offer more competitive terms (1)
(Max 1)
Accept other valid points

Balance b/d

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0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer
Option 2 – buy from both Alexander and Tahir
Advantages
T offers trade discount but A does not (1)
Trade discount is deducted from invoice and does not depend on when payment is made (1)
Cost of buying goods from T is reduced (1)
Not dependent on one supplier (1)
A may offer more competitive terms to compete with other supplier (1)
(Max 3)
Disadvantages
A offers cash discount but T does not(1)
T’s trade discount is a lower % than A’s cash discount (1)
May damage relationship with A (1)
Not familiar with T’s quality/reliability (1)
(Max 1)
Accept other valid points
Recommendation (1)

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Marks

0452/22
Question

Answer

2(a)

Ramla
Journal
Item
number
1
2
3
4
5

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Cambridge IGCSE – Mark Scheme
PUBLISHED

Details

Marks
10
Debit
$

Irrecoverable debts
Mai

99 (1)

Fixtures and fittings
Padma

875 (1)

Loan
Loan interest

500 (1)

Bank / cash
Rent

180 (1)

Drawings
Wages

120 (1)

Credit
$
99 (1)
875 (1)
500 (1)
180 (1)
120 (1)

Page 9 of 19

0452/22
Question
2(b)

May/June 2023
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Cambridge IGCSE – Mark Scheme
PUBLISHED
Answer
Item

Increase
in profit
$

Decrease
in profit
$

Marks
No effect on
profit

Draft profit

11 650

99 (1)

0 (1)

500 (1)

180 (1)

120 (1)

Adjusted profit

Profit

800

12 351 (1)OF

2(c)(i)

The prudence principle states that profits and assets are not overstated / losses and liabilities are not understated (1)
Irrecoverable debts should be written off to ensure that profits / assets are not overstated / not understate loss (1)

2(c)(ii)

The business entity principle states that the business is regarded as being completely separate from the owner of the
business (1)
OR
The business entity principle states that transactions should be recorded from the point of view of the business (1)

Drawings should be recorded correctly to ensure that profits are not understated / capital overstated (1)

Page 10 of 19

0452/22

May/June 2023
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Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

3(a)

Favourite Book Club
Subscriptions account
$
Date

Date

Details

2022

Marks
7
Details

2022

Jan 1

Balance b/d

Dec 31

Income & Expenditure

*468

Jan 1
Dec 31

(1) OF
Balance c/d

Balance b/d

(1)

* 260

Bank

(1)

5356

(1)

208

6240

Income and expenditure

156

subscriptions written off
Balance c/d

2023
Jan 1

6864
Balance b/d

(1)

1040

2023
Jan 1

* both balances b/d
+(1) Correct dates including years

1040

Page 11 of 19

6864
Balance b/d

(1)

156

0452/22

May/June 2023
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Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

Marks

3(b)

Favourite Book Club
Income and Expenditure Account for the year ended 31 December 2022
$
Subscriptions
Less expenses
Rent
General expenses
Insurance (732 + 348(1) – 366(1))
Subscriptions written off
Surplus for the year

3(c)

2 080
2 498
714
208

$
6 240

(1)OF

5 500
740

(1)OF

}
} (1)
(1)

For – increasing subscriptions
Subscriptions have remained unchanged for many years so increase should be expected (1)
Only requires a small increase to raise $400 (1)
There would be no need to obtain outside funds / loan / loan interest (1)
May result in the club being run more efficiently (1)
Max (3)

Accept other valid points
Against – increasing subscriptions
Increase in subscriptions may not be popular (1)
May result in members leaving the club / join another club (1)
Membership is already falling (1)
May result in more subscriptions being written off (1)
Subscriptions in arrears have increased from 2021 to 2022 (1)
Could try to raise the money another way, e.g. reduce general expenses / obtain loan / fund-raising (1)
Max (3)
Accept other valid points
Recommendation (1)
3(d)(i)

A summary of the cash book of a club or society usually prepared annually (1)

Page 12 of 19

0452/22
Question
3(d)(ii)

May/June 2023
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Cambridge IGCSE – Mark Scheme
PUBLISHED
Answer

Marks

Assets less liabilities of a club/society (1)
OR accumulated surpluses less accumulated deficits of a club/society (1)

Question

Answer

4(a)

Akila and Darius
Appropriation Account for the year ended 30 April 2023
$
Profit for the year
Add interest on drawings Akila
Darius
Less
Interest on capital Akila
Darius
Salary - Akila

Marks

970
816

}
} (1)

2 700
1 950
4 650
9 500

}
} (1)

6
$
42 304
1 786
44 090

(1)
14 150
29 940

Profit share Akila
(60%  29 940)
Darius (40%  29 940)

17 964
11 976

Page 13 of 19

(1) OF
(1) OF

29 940

(1)

0452/22

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Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

4(b)(i)

Akila
Current account
$
Date

Date

Details

2022

Marks
5
Details

2023

May 1 Balance b/d

(1)

2 600

Apr 30 Interest on capital

2023
Apr 30 Drawings

}

Interest on drawings }(1)OF
Balance c/d

(1)OF

19 400

}OF

2 700

Salary

}(1)

9 500

Profit share

(1)OF

7 194

May 1 Balance b/d

4(c)

30 164
7 194

7194OF + 1000 (interest on loan) (1) – 600 (reduction in profit share) (1) = 7594OF

Amount of capital to be invested by each partner (1)
Any limit on drawings (1)
Interest on partners’ loans (1)

Accept other valid points
Max (2)

17 964

970

30 164 2023

4(b)(ii)

Page 14 of 19

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
4(d)

Answer

Marks
5

Advantages – forming a limited company
May be easier to raise funds (1)
Company is a separate legal identity (1)
Shareholders have limited liability (1)
Continuity of existence (1)
May improve reputation / standing of the business (1)
Accept other valid points
Max (2)
Disadvantages – forming a limited copy
Maybe increase administration costs (1)
Maybe costly to establish (1)
More legal requirements (1)
More complex accounting required / have to produce annual financial statements (1)
More information about the business may be made public (1)
Accept other valid points
Max (2)
Recommendation (1)

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Page 15 of 19

0452/22

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PUBLISHED

Question

Answer

Marks

5(a)

Amadi
Corrected Trial balance at 31 March 2023

$
Fittings and equipment at cost
Provision for depreciation of fittings and equipment
Trade receivables
Bank overdraft
Trade payables
Capital
Sales
Purchases
Discount received
Returns inwards
Carriage inwards
General expenses
Rent and rates
Drawings
Inventory
Suspense

30 000
7 500

Page 16 of 19

}
}(1)

6 100
3 106
3 485
20 000
73 250
41 785
1 990
3 390
1 223
6 430
7 380
9 500
3 752

(1)

}
}(1)

(1)
229

109 560

(1)OF
(1)both

0452/22
Question

Answer

5(b)

Amadi
Suspense account
$
Date

Date

Details

2023
Mar 31

Marks
5
Details

2023
Rent and rates

(1)

Drawings

(1)

165

Discount received

(1)

165

Mar 31

429

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Page 17 of 19

Trial balance difference

(1)OF

229

General expenses

(1)

200

429

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Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

Marks

5(c)

Amadi
Income statement (trading section) for the year ended 31 March 2023
$
Revenue
Less returns inwards

73 250

3 752
41 785
1 223
46 760 (1)
(3 965)

Less Closing inventory
Gross profit

69 860

(1)

42 795
27 065

(1)OF
(1)OF
2

Gross profit margin
workings

answer

27 065 OF
 100 (1) OF whole formula
69 860 OF

3 390

Less Cost of sales
Opening inventory
Purchases
Carriage inwards

5(d)

Page 18 of 19

38.74% (1)OF

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
5(e)

Answer
Businesses in the same trade would be expected to have similar gross profit margins (1)
Max (1)
The profit margins will vary because –
Hector owns his own premises - he will not pay rent / may have repair / maintenance costs (1)
Or Amadi has to pay rent (1)
Max (1)
Accept other valid points
Conclusion (1)

Page 19 of 19

Accounting (0452) · May/June 2023 · Mark scheme 22

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