Accounting (0452) · Oct/Nov 2022 · Mark scheme 22
Cambridge Accounting (0452) mark scheme for paper 22, Oct/Nov 2022 — 0452/22/O/N/22, file 0452_w22_ms_22.pdf.
Text of this paper
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Cambridge IGCSE™
ACCOUNTING
0452/22
Paper 2
October/November 2022
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 2022 series for most
Cambridge IGCSE™, Cambridge International A and AS Level components and some Cambridge O Level
components.
This document consists of 16 printed pages.
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0452/22
Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles
October/November 2022
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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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0452/22
Cambridge IGCSE – Mark Scheme
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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
PUBLISHED
Social Science-Specific Marking Principles
(for point-based marking)
0452/22
1
October/November 2022
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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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0452/22
Cambridge IGCSE – Mark Scheme
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3
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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Cambridge IGCSE – Mark Scheme
PUBLISHED
0452/22
Question
Answer
1(a)
BC
Income Statement for the year ended 31 August 2022
$
Cost of sales
Opening inventory
Purchases
Carriage inwards
Closing inventory
Gross profit
Commission receivable (2 200 + 800)
Discount received
Discount allowed
Insurance (9 600 – 700)
Repairs (12 400 – 4 000)
Salaries (53 900 + 4 900)
Rates (6 000 – 300)
Depreciation machinery (27 600 x 20%)
Profit for the year
© UCLES 2022
Marks
$
231 500
3 600
227 900 (1)
Revenue
Sales returns
11 100
120 000
400 (1)
131 500
12 000
600 (1) ** both
8 900 (1)
8 400 (1)
58 800 (1)
5 700 (1)
5 520 (1)
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119 500 (1) OF
108 400 (1) OF
3 000 (1)
1 400 **
112 800
87 920
24 880 (1) OF
12
Cambridge IGCSE – Mark Scheme
PUBLISHED
0452/22
Question
Answer
1(b)
$
Current assets
Inventory
Trade receivables
Commission received
Rates prepaid
$
October/November 2022
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Marks
3
12 000
19 200
800
300
32 300 (1)
Current liabilities
Trade payables
Salaries owing
Bank
7 300
4 900
4 100
16 300 (1)
Working capital
1(c)
16 000 (1) OF
Option 1 Credit
Only payback the original amount of $6000/no interest (1)
Credit may not be granted as already has an overdraft (1)
Working capital/funds may be adequate provided trade receivables pay on time (1)
Consider whether adequate funds will be available in 60 days (1)
Working capital will be reduced (1)
Accept other valid points
Max (2)
Option 2 Loan
Interest each year will have to be paid (1)
Interest will reduce profit each year (1)
Consider whether funds will be available to repay the loan (1)
Loan may not be granted as already has an overdraft (1)
Accept other valid points
Max (2)
Recommendation (1)
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5
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Cambridge IGCSE – Mark Scheme
PUBLISHED
0452/22
Question
Answer
Marks
2(a)
4
Item
2(b)
Book of prime entry
Discount received from credit suppliers
Cash book (1)
Purchases returns
Purchase returns journal (1)
Contra entries
General journal (1)
Interest charged by credit suppliers
General journal (1)
A balance on a purchase ledger account is transferred to an account for the same business in the sales ledger (1)
Purchase ledger account is debited, and the sales ledger is credited (1)
2(c)
MC
Purchase ledger control account
Date
2022
Jul 1
31
Aug 1
© UCLES 2022
Details
Balance b/d
Purchase returns
Bank
Discount received
Cash
Contra
Balance c/d
Balance b/d
$
130 *
9 800 (1)
228 200 (1)
12 900 (1)
500 (1)
2 260 (1)
27 540
281 330
180 **
Date
2022
Jul 1
31
Aug 1
9
Details
Balance b/d
Purchases
Interest charges
Balance c/d
$
21 400 (1)* both
259 600 (1)
150 (1)
180
Balance b/d
281 330
27 540 (1) OF** both
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2
Question
2(d)
October/November 2022
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Cambridge IGCSE – Mark Scheme
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0452/22
Answer
Marks
Reduce cost of goods/increase gross profit/lower selling price (1)
Reliability of new supplier/guaranteed supplier (1)
Must consider whether low price will be maintained/currency fluctuations (1)
Must consider whether goods will be of an acceptable quality (1)
Possible language differences/difficulty of communications (1)
May be more difficult in case of problems/disputes (1)
May experience delivery problems (1)
Contract is binding for one year (1)
Accept other valid points
Max (4)
5
Recommendation (1)
3(a)
MG
Cash book (bank columns only)
Date
2022
Aug 31
Details
Balance b/d
Rates (SO)
Sep 1 Balance b/d
© UCLES 2022
$
25 600
50 (1)
25 650
25 045 (1) OF
Date
2022
Aug 31
Details
RJ (dis cheque)
Insurance (DD)
Bank charges
Balance c/d
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5
$
420 (1)
110 (1)
75 (1)
25 045
25 650
Cambridge IGCSE – Mark Scheme
PUBLISHED
0452/22
Question
3(b)
Answer
MG
Bank reconciliation statement at 31 August 2022
$
Balance shown in cash book
25 045 (1) OF
Add unpresented cheques JW
680 (1)
25 725
Less uncredited deposits TH
(910) (1)
Balance shown on bank statement
24 815 (1)
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Marks
4
Alternative presentation:
Balance shown on bank statement
Add uncredited deposits TH
Less unpresented cheques JW
Balance shown in cash book
3(c)
$
24 815 (1)
910 (1)
25 725
(680) (1)
25 045 (1) OF
Identify/correct either errors or omissions in the cash book (1)
Identify errors on the bank statement (1)
Update the cash book/obtain correct bank balance (1)
Assist in discovering fraud/deter or reduce risk of fraud (1)
Identify amounts not credited (1)
Identify cheques not presented (1)
Identify out-of-date (stale) and dishonoured cheques (1)
Accept other valid points
Max 2
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Cambridge IGCSE – Mark Scheme
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0452/22
Question
3(d)
October/November 2022
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Answer
Insufficient funds in the bank account (1)
No/incorrect signature (1)
No date (1)
No amount (1)
No payee (1)
Words and figures disagree (1)
Marks
2
Accept other valid points
Max 2
3(e)
A standing order is when a person instructs their bank to pay a fixed sum at fixed intervals to another person (1)
A direct debit is when permission is given for a named person to collect an amount from their bank. The dates and amounts
can vary (1)
2
Max 2
3(f)
Accept – Order
Sales/revenues will increase (1)
May lead to future orders (1)
Increase in profit for the year (1)
Could lose order if no discount given (1)
Accept other valid points
5
Max 2
Decline – Order
Existing customers may request a similar discount (1)
Reduction in profit if discount given to all existing customers (1)
May damage relationship of existing customers (1)
Reduction in gross margin (1)
Accept other valid points
Max 2
Recommendation (1)
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0452/22
Question
Answer
4(a)
PG
Sales account
Date
2022
Jul 31
Details
Income statement
$
377 000 (1) OF
___ ___
377 000
Date
2022
Jul 31
Details
Trade receivables
Cash
Marks
13
$
360 000 (1)
17 000 (1)
377 000
Sales returns account
Date
2022
Jul 31
Details
Trade receivables
$
Date
2022
Jul 31
13 300 (1)
13 300
Details
Income statement
$
13 300
13 300
Trade receivables account
Date
2021
Aug 1
2022
Jul 31
Details
Aug 1
Balance b/d
Balance b/d
Sales
Bank
$
28 500
Date
2022
Jul 31
360 000 (1)
4 000 (1)
___ ___
392 500
36 700 (1) OF
Details
Sales returns
Bank
Discount allowed
Irrecoverable debts
Balance c/d
*1 mark for 2 correct items and 2 marks for 4 correct items
© UCLES 2022
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$
13 300*
335 100*
6 500*
900*
36 700
392 500
October/November 2022
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Cambridge IGCSE – Mark Scheme
PUBLISHED
0452/22
Question
Answer
4(a)
Irrecoverable debts account
Date
2022
Jul 31
Details
$
Trade receivables
900
900
Date
2022
Jul 31
Marks
Details
$
Income statement
900 (1)
900
Provision for doubtful debts account
Date
2022
Jul 31
Details
Balance c/d
$
1 468
1 468
4(b)
© UCLES 2022
Date
2021
Aug 1
2022
Jul 31
Details
Aug 1
Balance b/d
$
Balance b/d
1 140 (1)
Income statement
328 (1)
1 468
1 468 (1) OF
PG
Extract from statement of financial position at 31 July 2022
Current assets**
$
Trade receivables
36 700 (1) OF
less provision for doubtful debts
1 468 OF
35 232 OF **(1)
**For heading + OF total
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Cambridge IGCSE – Mark Scheme
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0452/22
Question
4(c)
Answer
Obtain (credit) references (1)
Set credit limit (1)
Sell for cash only / reduce credit sales (1)
Issue invoices / statements of account promptly (1)
Follow up with phone calls / emails etc (1)
Improve or introduce credit control / hire a credit controller (1)
Charge interest on late payment (1)
Refuse further supplies until outstanding balance is paid (1)
Increase level of cash discount (1)
Last resort take legal action (1)
Accept other valid points
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Marks
3
Max 3
4(d)
Experience of late / non-payment (1)
Specific knowledge of customers credit record / credit rating (1)
Length of time debts outstanding / ageing schedule / trade receivables turnover (1)
State of the local economy (1)
Accept other valid points
Max 2
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2
Cambridge IGCSE – Mark Scheme
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0452/22
Question
Answer
5(a)
Sian and Tom
Profit and loss appropriation account for the year ended 31 March 2022
$
Profit for the year
add interest on drawings
Sian [240(1) + 90(1)]
Tom [300(1) + 180(1)]
$
59 190
330
480
810
60 000
less interest on capital
Sian (150 000 x 6%)
Tom (100 000 x 6%)
9 000 (1)
6 000 (1)
15 000
45 000
20 000 (1)
25 000
less partners salary Sian
Share of profits: Sian
Tom
15 000 }
10 000 } (1) OF
25 000
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Marks
8
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0452/22
Question
October/November 2022
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Answer
5(b)
Marks
8
Sian and Tom
Statement of financial position (extract) at 31 March 2022
$
$
$
150 000
100 000
250 000 (1)
Capital Sian
Tom
Current
Balance b/d
Interest on capital
Salary
Profit
Drawings
Interest on drawings
Sian
3 000
9 000
20 000 (1)
15 000
47 000
14 000
330
14 330
32 670
Tom
(7 000) (1) both
6 000 (1) OF both
10 000 (1) OF
9 000
22 000 (1)
480 (1) OF
22 480
(13 480)
19 190
269 190 (1) OF
5(c)
The amount the partner owes to the partnership (1)
Indicates that the partner’s drawings are too high (1)
Indicates that the partner’s drawings are greater than the total profit share (1)
2
Max 2
5(d)
Assumes the business will operate for an indefinite period of time (1)
Assumes there is no intention to close the business down / reduce the size of the business significantly (1)
Non-current assets are valued at net book value / not expected sales value (1)
Accept other valid points
Max 2
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