0452/23/M/J/25 Mark Scheme – Accounting May/June 2025 Paper 23

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Cambridge IGCSE™
ACCOUNTING

0452/23

Paper 2 Structured

May/June 2025

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 May/June 2025 series f or most
Cambridge IGCSE, Cambridge International A and AS Level components, and some Cambridge O Level
components.

This document consists of 18 printed pages.
© Cambridge University Press & Assessment 2025

[Turn over

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles

May/June 2025

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.

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0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

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 thre sholds or
grade descriptors in mind.

Page 3 of 18

0452/23

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

May/June 2025

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 t he 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 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

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 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

Annotations guidance for centres
Examiners use a system of annotations as a shorthand for communicating their marking decisions to one another. Examiners are trained during the
standardisation process on how and when to use annotations. The purpose of annotations is to inform the standard isation and monitoring
processes and guide the supervising examiners when they are checking the work of examiners within their team. The meaning of annotations and
how they are used is specific to each component and is understood by all examiners who mark the component.
We publish annotations in our mark schemes to help centres understand the annotations they may see on copies of scripts. Note that there may
not be a direct correlation between the number of annotations on a script and the mark awarded. Similarly, the use of an annotation may not be an
indication of the quality of the response.
The annotations listed below were available to examiners marking this component in this series.
Annotations
Annotation

Meaning
Indicates a point which is relevant and rewardable
Indicates a point which is inaccurate/irrelevant and not rewardable
Used when the benefit of the doubt is given in order to reward a response
An extraneous figure or item in the statement
Own figure
Indicates that content has been recognised but not rewarded
Indicates where content has been repeated.

Page 6 of 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

Question

Answer

Marks

1(a)

Anika
Journal

Date

2025
March 1

Details

Debit
$

Premises
Motor vehicles
Inventory
Trade receivables – Kofi
Davia
Petty cash
Bank
Trade payables – Ado
Sam
Capital

90 000}
14 500}
3 625}
3 000} (1)
2 140}
86}

Assets, liabilities and capital at this date (1)

Credit
$

Page 7 of 18

113 351

1 080}
1 925} (1)
210}
110 136 (1)

113 351

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

1(b)

Anika
Petty Cash Book
Total
received
$
86
64

Date

Details

Mar 1
6
10
17
21
28

Marks
11

Total
paid
$

2025
Balance b/d
Bank
Petrol
Computer paper
Sam
Postage
Car cleaning

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

May/June 2025

Motor
expenses
$

30
12
48
6
8
104

Office
expenses
$

Ledger
accounts
$

30
12
48
8
38

6
18

46
150
46
104

Balance c/d

Apr 1

Balance b/d
Bank

150
(1)OF
(1)OF

(1) dates
(1) OF totalling analysis columns
1(c)

Anika
Sam account
Date
2025
Mar 17
25
31

Details
Petty cash
Purchases returns
Balance c/d

$
(1)
(1)OF

48
57
219
324

Date
Details
2025
Mar 1 Balance b/d
21 Purchases

$
(1)
(1)

210
114
324

Apr 1 Balance b/d
© Cambridge University Press & Assessment 2025

Page 8 of 18

(1)OF

219

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

May/June 2025

Answer

2(a)
Cost
Depreciation 2021 (10 000  20%)
Net book value 31 Dec 2021
Depreciation 2022 (8 000  20%)
Net book value 31 Dec 2022
Depreciation 2023 (6 400  20%)
Net book value 31 Dec 2023

Marks

$
10 000
2 000
8 000
1 600
6 400
1 280
5 120

Total depreciation on delivery vehicle = 2000 + 1600 (1) + 1280 (1) = 4880 (1)OF
2(b)

Mo
Disposal of motor vehicles account
Date
2024
Mar 31

Details
Motor vehicles

(1)

Date
2024
10 000
Mar 31
Dec 31
10 000

2(c)

Cost of vehicle
Number plates
Total

$
12 500
215 (1)
12 715 (1)OF

4
Details

Provision for depreciation of
motor vehicles
(1)OF
Bank
(1)
Income statement
(1)OF

$
4 880
2 900
2 220
10 000
2

Page 9 of 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
2(d)

May/June 2025

Answer
Advantages opening a shop
There would be no motor expenses/no delivery costs (1)
Can utilise his time on other aspects of the business (1)
Might increase sales/increase customers/increase profits (1)
He could sell his vehicle/vehicle is no longer required (1)
Accept other valid points
Max (3)
Disadvantages of opening a shop
Cost of converting the farm building into a shop (1)
Cost of running the shop (1)
Customers may not be willing to travel/may prefer their goods delivered/ no guarantee that customers will come/ may spoil
relationship with customers (1)
New van has just been purchased (1)
Accept other valid points
Max (3)
Overall Advantages and Disadvantages Max (4)
Recommendation (1)

Page 10 of 18

Marks
5

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

2(e)

Mo
Rental income account
Date
Details
2024
Jan 1 Balance b/d
Dec 31 Income statement
(12  $80)
2025
Jan 1 Balance b/d

2(f)(i)

$
(1)

160

(1)

960
1 120

(1)OF

Date
2024
Mar 1
Sep 1
Dec 31

May/June 2025
Marks
4
Details

Bank
Bank
Balance c/d

They may sell different types of produce (1)
Mo has a higher selling price that Barry (1)
Mo’s cost of producing/cost of sales is lower than that of Barry (1)
Accept other valid points

$
}
}(1)

320
720
80
1 120

Max (1)
2(f)(ii)

Barry has to pay rent whereas Mo does not (1)
Mo has lower expenses/controls his expenses better (1)
Using different accounting methods e.g. different depreciation methods (1)
Accept other valid points
Max (1)

Page 11 of 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

May/June 2025

Answer

3(a)

Marks
11

Entries required to correct the error
Error

Debit
Account

A payment for wages, $425, had
been debited to the purchases
Wages
account.

Credit
$

Account

425

Discount allowed, $19, had been
credited to the discount allowed Discount allowed
account.

38 (1)

Purchases

Suspense

$
425

38 (1)

The total of the sales journal for
April 2025 was undercast by
$100.

Suspense

100 (1)

Sales

100 (1)

A bank payment for purchases,
$170, had not been recorded in
the books of account.

Purchases

170 (1)

Bank

170 (1)

Bank charges, $15, had been
recorded as $105.

Bank

A bank payment for insurance,
$210, was debited to the bank
account. No other entries were
made.

Insurance
Suspense

90 (1)

210 (1)
210 (1)

Page 12 of 18

Bank charges

Bank

90 (1)

420 (1)

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question

Answer

3(b)

Nabil
Suspense account
Date
2025
Apr 30

Details

Sales
Bank (1)

(1)

Date
2025
100
Apr 30
210
310

3(c)

$
Original cash at bank balance
Add Bank charges
Less

Purchases
Insurance
Corrected cash at bank balance
3(d)

170 (1)
420 (1)

May/June 2025
Marks
4

Details
Difference on trial
balance
Discount allowed

$
(1)
(1)

272
38
310

$
935
90 (1)
1 025
590
435 (1)OF

To enable the customer to compare their records against those of the bank (1)
To check the bank balance in the cash book against that shown in the bank’s records (1)
To identify the reason for any differences between the balance of bank column in the cash book and the bank statement (1)
To discover errors/omissions in either the cash book or the bank records (1)
To reconcile the bank statement balance with that in the cash book/help prepare bank reconciliation statement (1)
Max (1)

Page 13 of 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

Question

Answer

4(a)

H Limited
Statement of Changes in Equity for the year ended 30 April 2025
Details

On 1 May 2024

Ordinary
Share capital
$

General
reserve
$

Marks

Retained
earnings
$

Total
$

120 000

20 000

33 635

173 635

Profit for the year

26 700

(1) row

Transfer to general reserve

5 000

(5 000)

–

(1) row

Dividends paid

(5 340)

120 000

25 000

On 30 April 2025

Page 14 of 18

49 995

(5 340) (1) row
194 995

(1)OF row

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

Question

Answer

4(b)

H Limited
Statement of Financial Position as at 30 April 2025
$
$
$

Assets
Non-current assets at book value
Fixtures and equipment
Motor vehicles
Current Assets
Inventory
Trade receivables
Less Provision for Doubtful Debts
Total assets

155 000
16 875
171 875 (1)
28 120
33 000
990

32 010 (1)

Equity and Liabilities
Equity and Reserves
Ordinary share capital
General reserves
Retained earnings

60 130 (1)OF
232 005

120 000 }
25 000 }(1)OF
49 995 }
194 995

Non-current Liabilities
5% Debentures
Current Liabilities
Trade payables
Bank overdraft
Total Equity and Liabilities

Marks

5 000 (1)
26 815 (1)
5 195 (1)

Page 15 of 18

32 010
232 005

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
4(c)

4(d)

May/June 2025

Answer
The total funds provided by the owners of a business (1)
The difference between the assets and liabilities of a business (1)
Max (1)
26 700 + 250 *
26 950 (1)
100
= 13.48% (1)OF
=

194 995 OF + 5 000 199 995 (1)OF 1

Marks
1
3

Alternative calculation
26 700 + 250 *
26 950 (1)
100
= 13.48% (1)OF
=

171875 + 60 130 OF − 32 010 199 995 (1)OF 1
*Profit adjusted for interest on debentures 250 (5%  5 000)]
4(e)

Points for issuing debentures
There will be no liability once the debentures have been repaid (1)
Issue of debentures will not reduce shareholders’ stake in the company/ debenture holders do not take an active part in
running the company/debenture holders do not have a vote (1)
Only have relatively low amount of loans at present (1)
Funds may be available quickly/relatively easy to obtain (1)
Accept other valid points
Max (2)
Points against issuing debentures
Interest on the debentures has to be paid/ debenture interest reduces profit/ fixed amount of debenture interest each year/
debenture interest needs to be paid even if the company makes a loss (1)
May be secured against the assets of the company/are repaid before shareholders if company liquidated (1)
Debentures have to be repaid/increase liabilities (1)
Funds must be available when repayment is due (1)
Already have commitment to repay existing debentures (1)
Accept other valid points
Max (2)
Overall For and Against: Max (4)
Recommendation (1)

Page 16 of 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

May/June 2025

Question

Answer

Marks

5(a)

Grace
Manufacturing Account for the year ended 31 March 2025
$
Cost of material consumed
Opening inventory of raw material
Purchases of raw material
Carriage inwards of raw material

26 000 (1)
15 435 (1)
7 800 (1)
23 040 (1)

Add opening work-in-progress
Less closing work-in-progress
Cost of production
5(b)

5(c)

$
5 345
72 870
1 220
79 435
7 100
72 335 (1)
29 175 (1)
101 510 (1)OF

Less Closing inventory of raw material
Direct wages
Prime cost
Factory overheads
Wages of factory supervisor (24 000 + 2 000)
Factory power (14 120 + 1 315)
Rent and insurance (12 000  65%)
Depreciation of factory equipment
(180 000 – 64 800)  20%

255 – 3 – 15 = 237  $14 value at cost price
3 x $13
value at NRV
15
cost = $14 NRV = 27-1.4 = 25.6 so value at cost
Total

72 275
173 785
13 820
187 605
14 390
173 215
$
3 318
39
210
3 567

(1)OF
*
* (1) for both inventories
(1)OF
4

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

All assets and expenses are recorded at their actual cost (1)
Factory equipment and other costs are recorded at the amount of their actual/original cost. (1)
Accept other valid points
Max (1)

Page 17 of 18

0452/23

Cambridge IGCSE – Mark Scheme
PUBLISHED

Question
5(d)

May/June 2025

Answer
Points for producing handbags
Not dependent on suppliers for price/may be able to produce them more cheaply (1)
Not dependent on suppliers for quality (1)
Not dependent on suppliers for reliability (1)
Possibility of higher sales/more customers/higher profit (1)
Accept other valid points
Max (3)
Points against producing handbags
New equipment may be required (1)
May be cheaper to purchase rather than make (1)
May produce inferior quality goods/customers may be dissatisfied (1)
May not be able to meet demand (1)
May need additional factory space/additional storage space (1)
Cost of production will increase/ cost of raw material will increase/ will need extra employees/may incur additional factory
expenses (1)
Accept other valid points
Max (3)
Overall For and Against: Max (4)
Recommendation (1)

Page 18 of 18

Marks
5

Accounting (0452) · May/June 2025 · Mark scheme 23

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