Accounting (0452) · Oct/Nov 2021 · Mark scheme 22
Cambridge Accounting (0452) mark scheme for paper 22, Oct/Nov 2021 — 0452/22/O/N/21, file 0452_w21_ms_22.pdf.
Text of this paper
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Cambridge IGCSE™
ACCOUNTING
0452/22
Paper 2
October/November 2021
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 October/November 2021 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.
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0452/22
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Generic Marking Principles
October/November 2021
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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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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.
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Cambridge IGCSE – Mark Scheme
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Social Science-Specific Marking Principles
(for point-based marking)
October/November 2021
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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
2
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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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.
4
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.
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PUBLISHED
Question
Answer
1(a)
Ayesha
Sales ledger control account
Date
Details
2021
Aug 1 Balance b/d
31 Sales
Interest
Balance c/d
$
(1)
(1)
Date
2021
9 800 Aug 1
88 850
31
90
350
Marks
14
Details
$
Balance b/d
Bank
Discount allowed
Irrecoverable debts
Sales returns
Contra
Balance c/d
(1)
(1)
(1)
(1)
(1)
Balance b/d
(1)
99 090
2021
Sep 1 Balance b/d
(1)OF
2021
10 050 Sep 1
420
82 100
900
300
2 400
2 920
10 050
99 090
350
Purchases ledger control account
Date
Details
2021
Aug 31 Bank
Discount received
Contra
Balance c/d
© UCLES 2021
$
(1)
(1)
(1)
Date
Details
2021
50 600 Aug 1 Balance b/d
600
31 Purchases
2 920
8 980
63 100
2021
Sep 1 Balance b/d
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$
(1)
7 700
55 400
63 100
(1)OF
8 980
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Question
Answer
1(b)
1(c)
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Item
Marks
4
Book of prime entry
Returns
Sales returns journal
(1)
Discount allowed
Cash book
(1)
Interest charged to customer on overdue account
General journal/Journal
(1)
Contra entry
General journal/Journal
(1)
Overpayment by credit customer (1)
Credit customer returned goods after settling the account (1)
Credit customer paid for goods in advance (1)
Payment by credit customer before cash discount was deducted (1)
2
Max (2)
Question
Answer
2(a)
$
Revenue
Cost of sales
Opening inventory
Purchases
Closing inventory
$
160 000
11 000
109 000
120 000
8 000
Gross profit
Operating expenses
Profit for the year
112 000
48 000 (1)
35 200
12 800 (1)OF
Accept other forms of presentation
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Marks
2
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Question
2(b)(i)
2(b)(ii)
October/November 2021
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Answer
Gross margin
48 000 100
×
(1) OF whole formula = 30% (1) OF
160 000
1
Increase selling price / reduce trade discount to customers (1)
Obtain cheaper supplies / obtain higher trade discount from suppliers (1)
Purchase lower quality goods (1)
Change proportion of different types of goods sold/sell more goods with higher profit margin(1)
Accept other valid points
Marks
2
2
Max 2
2(c)
2(d)
Trade receivables turnover
22 600 365
×
(1) whole formula = 52 days (1)
160 000
1
Advantages
Sales may increase (1)
May attract more customers (1)
Profit may increase (1)
May improve relationship with customers (1)
Disadvantages
Delays the receipt of money (1)
Additional working capital may be required (1)
May be an increase in irrecoverable debts (1)
May be an increase in administration costs (1)
2
5
Accept other valid points
Max (4)
Recommendation (1)
2(e)
© UCLES 2021
Trade payables turnover
11600 365
×
(1) whole formula = 39 days (1)
109 000
1
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Question
2(f)
Answer
Reduction in cost of sales (1)
If goods can be sold the gross profit will increase (1)
May reduce selling price to increase sales revenue (1)
Could increase range of products to sell (1)
Marks
5
Accept other valid points
Consider if the additional goods can be sold (1)
Increase in quantity / value of inventory (1)
Increased cost of storage (1)
Additional working capital may be required (1)
Increase in amount payable to suppliers each month (1)
Accept other valid points
Max (4)
Recommendation (1)
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Question
Answer
3(a)
KA Limited
Manufacturing Account for the year ended 31 July 2021
$
Cost of material consumed
Opening inventory raw material
Purchases raw material
Carriage inwards
(1)
(1)
(1)
(1) OF
24 000
16 630 (1)
3 600 (1)
7 200 (1)
51 430
153 030
1 750
154 780
2 780
152 000
Add opening work in progress
Less closing work in progress
Cost of production
© UCLES 2021
10
$
5 820
34 200
410
40 430
6 030
34 400
67 200
101 600
Closing inventory raw material
Direct wages
Prime cost
Factory overheads
Indirect factory wages
Factory general overheads (16 400 + 230)
Rates (5300 – 500) × 75%
Depreciation of factory machinery
(36 000 × 20%)
Marks
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(1) OF
*
(1)* for both WIP
(1) OF
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Question
Answer
Marks
3(b)
KA Limited
Income Statement (Trading section) for the year ended 31 July 2021
$
Revenue
Less Cost of sales
Opening inventory finished goods
Cost of production
Purchases of finished goods
Carriage inwards
Less Closing inventory finished goods
12 360
152 000
3 900
80
168 340
10 340
4
$
223 000
*
(1) OF
}
} (1)
(1) * both
158 000
65 000 (1) OF
Gross profit
3(c)
KA Limited
Journal
Details
2
Debit
$
Irrecoverable debts
350
DH Limited
Credit
$
(1)
350 (1)
3(d)(i)
The amount of sales for which the business is unlikely to be paid (1) is regarded as an expense of the year in which those
sales are made (1)
2
3(d)(ii)
The profit for the year is not overstated (1) and the amount of trade receivables is shown at a realistic level in the statement
of financial position (1)
2
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Question
Answer
4(a)
Nikita
Journal
Error
Details
Marks
10
Debit
$
Credit
$
1
Suspense
Insurance
2000
(1)
2000 (1)
2
Suspense
Discount received
Discount allowed
1000
(2)
500 (1)
500 (1)
3
Kajal
Suspense
400
(1)
400 (1)
4
Aisha
Anisah
700
(1)
700 (1)
4(b)
Nikita
Suspense account
Date
$
Details
Insurance
Discount received
Discounts allowed
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(1)
(1)
(1)
Date
2 000
500
500
3 000
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Details
Difference on trial
balance
Kajal
$
(1)
(1)
2 600
400
3 000
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Question
Answer
4(c)
Nikita
Statement of corrected profit for the year ended 30 June 2021
Marks
5
$
28 000
Profit for the year before corrections
Increase in
profit
$
Decrease
in profit
$
Error 1
2 000 (1)
–
Error 2
1 000 (1)
–
Error 3
no effect (1)
–
Error 4
no effect (1)
3 000
–
Corrected profit for the year
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3 000
31 000 (1) OF
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Question
Answer
5(a)
Simon
Delivery vehicles account
Details
Date
2019
Jan 1
Balance b/d
2021
Jan 1
Balance b/d
Date
2020
55 000 Mar 31
Dec 31
55 000
Marks
15
$
(1)
Details
Disposal
Balance c/d
$
(1)
25 000
30 000
55 000
30 000
Provision for depreciation of delivery vehicles account
Date
2019
Dec 31
Details
Balance c/d
$
Date
2019
22 000 Jan 1
Dec 31
$
Details
Balance b/d
Income statement
6000 (1)
5000 (1)
11 000
11 000
22 000
22 000
2020
Mar 31
Dec 31
Disposal
(5000 + 5000) (1)
+1250 (1)
Balance c/d
2020
Jan 1
Dec 31
11 250
18 000
29 250
2021
Jan 1
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Balance b/d
(1)OF
Income statement
6000 (1)
1250 (1)
Balance b/d
(1)OF
22 000
7 250
29 250
18 000
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Question
Answer
5(a)
Delivery vehicles disposal account
Date
2020
Mar 31
$
Details
Delivery vehicles
(1)
Date
2020
25 000 Mar 31
Dec 31
25 000
Marks
Details
Prov for Dep.
Bank
Income
statement
$
(1)OF
(1)
11 250
10 350
(1)OF
3 400
25 000
Dates (1)
5(b)
Reducing balance
Has to be recalculated each year
Suitable when lose more value in early years
Shows a more realistic book value
Matches cost more closely with revenue
Unable to compare with previous accounts
Straight line
Easier to calculate / only one calculation needed
Suitable when lose equal value each year
Suitable when annual usage is the same
Should not change method without good reason /
apply consistency
Accept other valid points
Max (4)
Recommendation (1)
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