0452/21/O/N/24 Mark Scheme – Accounting Oct/Nov 2024 Paper 21

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Cambridge Accounting (0452) mark scheme for paper 21, Oct/Nov 2024 — 0452/21/O/N/24, file 0452_w24_ms_21.pdf.

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Cambridge IGCSE™
ACCOUNTING

0452/21

Paper 2 Structured

October/November 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 October/November 2024 series for 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 2024

[Turn over

0452/21

Cambridge IGCSE – Mark Scheme
PUBLISHED
Generic Marking Principles

October/November 2024
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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 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.

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0452/21

Cambridge IGCSE – Mark Scheme
PUBLISHED

October/November 2024
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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)

0452/21

October/November 2024
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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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0452/21

Cambridge IGCSE – Mark Scheme
PUBLISHED

October/November 2024
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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.

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Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Annotation

Description

October/November 2024
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Use

Tick

Indicates a point which is relevant and rewardable.

Cross

Indicates a point which is inaccurate/irrelevant and not rewardable.

Benefit of doubt

Used when the benefit of the doubt is given in order to reward a response.

An extraneous figure or item in the statement
OF

Own figure

Noted but no credit
given

Indicates that content has been recognised but not rewarded.

Repetition

Indicates where content has been repeated.

Page 6 of 18

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question

Answer

1(a)

Jenny
Cash Book – bank columns
Date
2024
Mar 1

Details
M Stores
Interest received
Drawings/Correction of
error
Balance c/d

$
(1)
(1)
(1)

Date
2024
1 900 Mar 1
358
45
1 166
3 469
2024
Mar 1

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October/November 2024
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Marks
7

Details

Balance b/d
C Stores (dis. chq)
Bank charges
Electricity

Balance

b/d

(1)
(1)
}
} (1)

1 933
1 121
125
290
_ ___
3 469

(1)OF

1 166

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21

October/November 2024
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Question

Answer

1(b)

Jenny
Bank reconciliation statement at 29 February 2024
$

$
1 367 (1)

Balance on bank statement
Amounts not yet credited
Cheque – Y Traders
Amounts not presented
Cheque – B Properties
Credit transfer – Rent and insurance
Balance in cash book

Marks

792 (1)
2 159
1 025 (1)
2 300 (1)

3 325
(1 166) (1)OF

Alternative presentation
$
Balance in cash book
Amounts not presented
Cheque – B Properties
Credit transfer – Rent and insurance

$
(1 166) (1)OF

1 025 (1)
2 300 (1)

Amounts not yet credited
Cheque – Y Traders
Balance on bank statement
1(c)

3 325
2 159
(792) (1)
1 367 (1)

An accurate bank balance is available
Errors on bank statement can be identified
Errors in the bank account can be identified
Assists with discovering fraud and embezzlement
Cheques not presented can be identified
Amounts not credited by the bank can be identified
Any stale (out of date) cheques can be identified

Any 2 advantages (1) each
1(d)

It is an asset to the bank/it is money owed to the bank

1
Page 8 of 18

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question
1(e)

Answer
Advantages
Improves bank balance/ improve liquidity
Money available to run the business/pay trade payables/business expenses
Reduces interest/bank charges from bank
Improves relationship with bank
Any other valid points
Max 3
Disadvantages
Lack of funds for own personal use
May not have sufficient personal funds available
May have to obtain a personal loan
Will lose interest on investments if they have to be withdrawn
More personal funds at risk
Accept other valid points
Max 3
Recommendation (1)

Page 9 of 18

October/November 2024
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Marks
5

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question
2(a)

October/November 2024
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Answer

Marks

Ali & Sai
Profit and loss appropriation account for the year ended 30 June 2024
$
$
Profit for the year (42 700 (1) – 500 (1))
42 200
Add Interest on drawings Ali
Sai

550 (1)
800 (1)

Less Interest on capital

Ali
Sai

Salary
Residual profit

Sai

3 600 (1)
2 400 (1)
6 000
10 050 (1)

Profit share

Ali
Sai

16 500 }(1)OF
11 000

Page 10 of 18

1 350
43 550

16 050
27 500

27 500

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question

Answer

2(b)

Sai
Capital account
Date
2024
June 30

Details
Balance c/d

Date
2023
40 000 July 1
40 000
2024
July 1

October/November 2024
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Marks
8

Details

Balance b/d

40 000
40 000
(1)

40 000

Sai
Current account
Date
2024
June 30

Details
Drawings
(1)
Interest on drawings (1)OF
Balance c/d

Date
2023
16 000 July 1
800 2024
6 900 June 30
_
23 700
2024
July 1

2(c)

Details
Balance b/d

(1)

250

Interest on capital
Salary
Profit share

(1)OF
(1)
(1)OF

2 400
10 050
11 000
23 700

Balance b/d

(1)OF

6 900

Profits have to be shared among the partners
Decisions must be recognised by all partners
Decisions may take longer to put into effect
One partner’s actions on behalf of the business are binding on all partners
Disagreements can occur
All partners are responsible for the debts of the business
Accept other valid advantages
Any 2 disadvantages (1) each

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October/November 2024
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Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question

Answer

2(d)

Ali and Sai
Journal
Date

Marks
2

Details
Interest on loan
Bank

Debit
$
(1)
(1)

Credit
$

500
500

Question

Answer

Marks

3(a)

Natalie
Journal

Error
number
1
2

3
4
5

Details
Suspense
Sarah

Debit
$
(1)

Credit
$

420

(1)

420

Motor vehicles
Vehicle maintenance
Capital

{(1)
{
(1)

7 000
7 000

Purchases
Suspense

(1)
(1)

General expenses
Bank

(1)
(1)

126

Drawings
Cash

(1)
(1)

400

Page 12 of 18

14 000
63
126
400

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question

Answer

3(b)

Natalie
Suspense account
Date
2024
Mar 31

Details

Sarah

(1)

Date
2024
420 Mar 31
___
420

3(c)

3(d)

Error type

Error 4

Omission

(1)

Error 5

Complete reversal

(1)

increase

no effect
(1)

Error 1
Error 2

(1)

Error 3

(1)

Error 4

 (1)

Error 5

Details
Difference on trial
balance
Purchases

(1)
(1)

357
63
420

Effect on profit
decrease

Marks

Error
Number

October/November 2024
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(1)

Page 13 of 18

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question
4(a)

October/November 2024
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Answer
$
Cost of vehicles at start
440 000
Add Cost of new vehicles
70 000
Less Cost of vehicle sold
Cost of vehicles held at year end
Depreciation for the year = 482 000  20% = 96 400 (1)OF

Page 14 of 18

Marks
$
510 000
28 000
482 000 (1)

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question

Answer

4(b)

Delivery vehicles account
Date
2023
Jan 1
Apr 1
2024
Jan 1

Details

Balance b/d
L Autos

(1)

Balance b/d

***OF

Date
2023
440 000 Nov 30
70 000 Dec 31
510 000

October/November 2024
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Marks
10

Details

Disposal
Balance c/d

(1)

28 000
482 000
510 000

482 000

Provision for depreciation of delivery vehicles account
Date
2023
Nov 30
Dec 31

Details
Disposal
Balance c/d

(1)

Date
2023
16 800 Jan 1
349 600 Dec 31
366 400
2024
Jan 1

Details

Balance b/d
Income statement

Balance b/d

(1)OF

270 000
96 400
366 400

***(1)OF boths

349 600

Disposal of delivery vehicle account
Date
2023
Nov 30

Details
Delivery vehicles

(1)

Date
2023
28 000 Nov 30
Dec 31
28 000

(1) dates

Page 15 of 18

Details
Prov. for depreciation
Bank
Income statement

$
(1)
(1)
(1)OF

16 800
10 500
700
28 000

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21
Question
4(c)

October/November 2024
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Answer
Advantages
Application of the matching principle
Vehicles would be valued at a more realistic/accurate figure
May reflect the estimate of loss in value for vehicles more accurately/ depreciation may be more accurate
Appropriate for vehicles as they lose more value/greater benefits are gained in the early years
Total depreciation/annual depreciation charge will be lower
Accept other valid points
Max 2

Marks
5

Disadvantages
More difficult to calculate depreciation /need to recalculate depreciation each year
The depreciation charge is higher in the early years
Changing methods is against the consistency principle
Changing methods makes comparisons between years more difficult
Non-current asset may be overvalued
Accept other valid points
Max 2
Recommendation (1)
4(d)

Non-current asset

Straight line

Revaluation

 (1)

Land
Fixtures & fittings
Loose tools

No
depreciation

(1)
 (1)

Page 16 of 18

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21

October/November 2024
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Question

Answer

5(a)

G Limited
Manufacturing account for the year ended 31 March 2024
$
Cost of materials consumed
Opening inventory of raw materials
Purchases of raw materials

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

47 200 }(1)
20 250 }
4 632 (1)
29 325 (1)

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

$
18 200
68 000
86 200
19 280
66 920
183 700
3 240
253 860

Less Closing inventory of raw materials
Direct wages
Royalties
Prime cost
Factory overheads
Wages of factory supervisor
Factory general expenses
Factory rates and insurance
(7 100 + 620)  60%
Depreciation of factory machinery
(247 000 – 51 500)  15%

Marks

Page 17 of 18

101 407
355 267
23 400
378 667
22 650
356 017

(1)OF
*
* (1) both W in P
(1)OF

Cambridge IGCSE – Mark Scheme
PUBLISHED

0452/21

October/November 2024
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Question

Answer

5(b)

G Limited
Income Statement (Trading section) for the year ended 31 March 2024
$
$
Revenue
Less Cost of sales
Opening inventory finished goods
Cost of production
Purchases of finished goods
Carriage inwards on finished goods

5
$
523 908 (1)OF

6 820
356 017 (1)OF
32 413 } (1)
2 180 }

Less Closing inventory of finished goods
Gross Profit
5(c)

Marks

34 593
397 430
9 350

388 080 (1)OF
135 828 (1)OF

Advantages
Better trained staff
Improved debt collection period/reduce trade receivables turnover/money received from credit customers more
quickly/improved cash flow
Improved credit control
Risk of irrecoverable debts reduced
Only have to pay fee once but benefits should continue
Accept other valid points
Max 2
Disadvantages
Fee charged by consultant/cannot afford the fee
May damage relationship with customers
May be reduction in sales
New procedures are not guaranteed to generate improvements
No time to train staff
Additional costs may be incurred
Accept other valid points
Max 2
Recommendation (1)

Page 18 of 18

Accounting (0452) · Oct/Nov 2024 · Mark scheme 21

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