Ib G Jun17 Accn2 Mark Scheme [repack] File

The scheme often includes “Allow” (credit for alternative but correct methods) and “Do not allow” (common wrong answers). This helps students avoid typical traps — e.g., mixing up accrued and prepaid expenses in a Reconciliation Statement .

: You can view the complete mark scheme at Studocu or Course Hero . Ib G Jun17 Accn2 Mark Scheme

| Mark | Explanation | |------|-------------| | M1 | Cost of sales = Sales × (1 – Gross profit margin) = 100,000 × 0.75 = $75,000 | | M2 | Purchases = Cost of sales – Opening inventory + Closing inventory = 75,000 – 10,000 + 15,000 = $80,000 | | M3 | Trade payables (closing) = Purchases – Payments to suppliers = 80,000 – 70,000 = $10,000 | | A1 | All three figures correct and clearly labeled. | | Mark | Explanation | |------|-------------| | M1

: It employs "Own Figure" (OF) marking, which allows students to gain marks for correct methodology even if they made a prior arithmetical error. Alternative Answer Paths 000 × 0.75 = $75