0452/22/M/J/24 Mark Scheme – Accounting May/June 2024 Paper 22

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Cambridge Accounting (0452) mark scheme for paper 22, May/June 2024 — 0452/22/M/J/24, file 0452_s24_ms_22.pdf.

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Cambridge IGCSE™
ACCOUNTING

0452/22

Paper 2

May/June 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 for
Teachers.
Cambridge International will not enter into discussions about these mark schemes.
Cambridge International is publishing the mark schemes for the May/June 2024 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 14 printed pages.
© Cambridge University Press & Assessment 2024

[Turn over

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles

May/June 2024

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 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 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 14

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 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 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.

Social Science-Specific Marking Principles
(for point-based marking)
1

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).

Page 3 of 14

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2024

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).

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 4 of 14

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
1(a)

May/June 2024

Answer

Marks

($21 +$47 + $44) (1) – $15(1) = $97 (1)OF

1(b)(i)

cash book
sales journal
sales returns journal
purchases journal
purchases returns journal
journal / general journal
Max (1)

1(b)(ii)

Useful for preparing control accounts
Assist in collating and summarising accounting information
Remove detail from the ledgers
Bookkeeping can be divided among several people

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

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

Accept other valid points
Max (2)
1(c)(i)

Depreciation for the year ended 30 April 2022 12 000  25%
Depreciation for the year ended 30 April 2023 (12 000 – 3 000) 9 000  25%
Accumulated depreciation at 30 April 2024

1(c)(ii)

3 000 }
2 250 }(1)
5 250 (1)OF

Lottie
Disposal of motor vehicle account
Date
2024
Apr 30

Details
Motor vehicles (1)

Date
2024
12 000 Apr 30
$

12 000
Ignore dates

Page 5 of 14

Details
Provision for depreciation (1)OF
Y Limited
(1)
Income statement
(1)OF

$
5 250
6 000
750
12 000

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

May/June 2024

Answer

1(d)

Marks

Item

Valuation per unit
$

Number of items

Total valuation
$

(14 + 1 = ) 15

900 (1)

1 445 (1)

660 (1)

3 005 (1)OF
1(e)

Lottie
Insurance account
Details

Date
2023
May 1
Aug 1

Balance b/d }
Bank
} (1)

2024
May 1

Balance b/d (1)OF

Date
2024
60 Apr 30
360
420
60

(1) dates

Page 6 of 14

4
$

Details
Income statement
Balance c/d

(1)

360
60
420

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2024

Question

Answer

Marks

2(a)

Toyah
Manufacturing Account for the year ended 31 January 2024
$
Cost of material consumed
Opening inventory of raw material
Purchases of raw material

$
12 400
143 000
155 400
11 205
144 195 (1)
51 000 (1)
195 195 (1)OF

Less Closing inventory of raw material
Direct wages
Prime cost
Factory overheads
Wages of factory supervisor
Factory electricity
Rates and insurance (16 200  2/3)
General factory expenses (6 155 + 235)
Depreciation of factory machinery
(120 000 – 52 500)  25%

19 000
16 000
10 800 (1)
6 390 (1)
16 875 (1)

Add Opening work-in-progress
Less Closing work-in-progress
Cost of production

Page 7 of 14

69 065
264 260
16 970
281 230
17 682
263 548

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

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2024

Question

Answer

2(b)

Toyah
Income statement (trading section) for the year ended 31 January 2024
$
Revenue
Cost of sales
Opening inventory
Cost of production
Closing inventory
Gross profit

14 825 *
263 548 (1)OF
278 373
13 480 *(1) for both

Marks
5

$
390 100 (1)

264 893 (1)OF
125 207 (1)OF

2(c)

$263 548 OF
= $38 (1)OF per dolls’ house (rounded up to nearest dollar)
6 936

2(d)

For:
Sales of discounted inventory should be profitable / make a profit / increase profit margin (1)
Selling extra inventory may increase total sales / more customers / more revenue (1)
Completed inventory may be turned into cash quickly (1)
Her own inventory of finished goods has decreased so there may be scope for her to sell additional inventory (1)
Accept other valid points
Max (2)

Against:
Does not have enough money to buy the inventory (1)
If have to borrow money will incur interest charges (1)
It may incur extra storage costs (1)
May not be able to sell the inventory if unpopular / inferior quality (1)
May increase selling costs (1)
Accept other valid points
Max (2)
Recommendation (1)

Page 8 of 14

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

May/June 2024

Answer

Marks

3(a)(i)

Bank statement (1)

3(a)(ii)

Error 4 (1)

3(b)

Akil
Journal
Error
number
1

Debit
$

Sales returns
Sales

2
3

3(c)(i)

Details

7
Credit
$

3 416 (1)
3 416 (1)

Insurance (115  2)
Suspense

230 (1)

Discount received
Discount allowed
Suspense

47 (1)
47 (1)

230 (1)

94 (1)

Shows that all the errors have not yet been found/corrected (1)

3(c)(ii)

Akil
Suspense account
Date
2024
Feb 29

Details
Difference on Trial balance (1)
Purchases
(1)

March 1 Balance b/d

(1)OF

Date
2024
385 Feb 29
90
___
475
151

Ignore dates

Page 9 of 14

5
Details
Insurance
Discount received
Discount allowed
Balance c/d

$
(1)
} (1)
}

230
47
47
151
475

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

May/June 2024

Answer

3(d)

$
Plus
Original draft profit
Error 4
Error 5
Error 2
Error 3

Marks

$
Minus

$
17 420

52 (1)
90 (1)
142

230 (1)
94 (1)
324

Draft profit after corrections

(182)
17 238 (1)OF

Question

Answer

4(a)

Tadeen and Yadid
Income Statement for the year ended 30 April 2024
$
Revenue
Expenses
Salaries (79 800 + 1 800)
Rates and insurance (17 320 – (10/12  1 920)=1 600)
Advertising
Office expenses
Depreciation of fittings and equipment (15%  70 000)
Irrecoverable receivables
Profit from operations
Loan interest
Profit for the year

Page 10 of 14

Marks

81 600
15 720
16 730
6 150
10 500
670

(1)
(2) / (1)OF
}
}(1)
(1)
(1)

8
$
236 350

131 370
104 980
1 200 (1)
103 780 (1)OF

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

4(b)

Tadeen and Yadid
Appropriation account for the year ended 30 April 2024
$
Profit for the year
Add interest on drawings
Less
Interest on capital

Profit share
4(c)(i)

Marks

Tadeen
Yadid

1 715 }
2 325 } (1)

Tadeen
Yadid

3 750 }
2 550 } (1)
6 300
10 000 (1)

Salary Yadid
Tadeen
Yadid

May/June 2024

54 912 (1) OF
36 608 (1) OF

To avoid a debit balance on their current account (1)
To keep cash in the business / to benefit the business / less profits / making loss (1)
To reduce interest charged on drawings (1)

5
$
103 780 OF
4 040
107 820

16 300
91 520
91 520
1

Accept other valid points
Max (1)
4(c)(ii)

Going concern (1)

Page 11 of 14

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
4(d)

Answer
For
The business will benefit from the skills and experience of Raim (1)
Raim may contribute towards increased revenue and profit / attract more customers (1)
Raim would share workload (1)
Raim would share the risks/responsibilities/losses (1)
They could require Raim to introduce capital (1)
They may need to spend less on advertising as Raim is well known in the area (1)
Accept other valid points
Max (3)
Against
The profits would need to be shared with Raim (1)
Raim’s profit share would be greater than an employee’s salary (1)
Raim’s profit share will significantly reduce the profit available for the existing partners (1)
They would need to take account of Raim’s views / there may be disagreements (1)
They would be liable for the actions of Raim (1)
Accept other valid points
Max (3)
Max (4)
Recommendation (1)

Page 12 of 14

May/June 2024
Marks
5

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
5(a)

Answer
Gross margin:

May/June 2024
Marks
11

Cost of sales 5 200 + 51 300 – 6 500 = 50 000
Gross profit 97 000 – 50 000 = 47 000
47 000 (1) 100

= 48.45% (1)
Gross margin =
97 000
1
Profit margin:
Profit 47 000 OF – 23 750 = 23 250
23 250 (1) OF 100
Profit margin =

= 23.97% (1)OF
97 000 CF
1
Inventory turnover:
50 000 (1) OF
= 8.55 times (1)OF
(5 200  6 500) / 2  5850 (1)
Trade receivables turnover
9 550
365 (1)

whole formula = 41 days (1)OF
86 400
1
Liquid (acid test) ratio
(9 550 + 1 200) : 6 000 (1) whole formula = 1.79:1 (1)OF
5(b)(i)

His purchase price has fallen / he has been allowed trade discount (1)
His sales mix has changed (1)
Max (1)

5(b)(ii)

Whether Ajay will be able to continue in business / continue being able to supply them (1)

Page 13 of 14

0452/22

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
5(c)

Answer
Advantages
Should increase sales / attract new customers (1)
May increase profit for the year (1)
Should increase rate of inventory turnover (1)
Reduces risk of inventory deteriorating / becoming damaged / obsolete (1)
Reduces cost of holding inventory (storage, insurance) (1)
May improve his reputation (1)
Accept other valid points
Max (3)

May/June 2024
Marks
5

Disadvantages
Would reduce gross margin / gross profit / profit for the year / profit margins / may make a loss (1)
Less money coming in from each unit sold / liquidity reduced (1)
Customers may question the quality of the goods / it may damage his reputation (1)
Customers may be unwilling to pay the full price in future (1)
It may be better to offer cash discount to reduce trade receivables (1)
Accept other valid points
Max (3)
Max (4)
Recommendation (1)
5(d)

May result in loss if expenses continue to increase (1)
He may not be able to pay expenses/ suppliers/wages if they continue to increase. (1)
The business cannot continue indefinitely if this trend continues. (1)
Accept other valid points
Max (2)

Page 14 of 14

Accounting (0452) · May/June 2024 · Mark scheme 22

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