Accounting Grade 10 P1 November Mock Exam 2 2026 Addendum

STICKER CENTRE NUMBER EXAMINATION NUMBER NATIONAL SENIOR CERTIFICATE ACCOUNTING P1 GRADE 10 NOVEMBER EXAMINATION 2026 (MOCK) SPECIAL ANSWER BOOK WWW.HLAYISO.COM QUESTION MARKS INITIAL MOD. 1 30 2 50 3 40 4 30 TOTAL This answer book consists of 8 pages. Copyright reserved Please turn over

Accounting/P1 2 Hlayiso/Mock 2026 NSC – Answer Book Mock QUESTION 1 1.1.1 1.1.2 1.1 1.1.3 5 1.1.4 1.1.5 1.2 No. Account debited Account credited Amount A OE L e.g. Insurance Bank 1 600 − − 0 1.2.1 Bank Cost of sales Trading stock 1.2.2 Debtors’ allowances Trading stock Cost of sales 1.2.3 1.2.4 Interest on fixed deposit 25 TOTAL MARKS 30 Copyright reserved Please turn over

Accounting/P1 3 Hlayiso/Mock 2026 NSC – Answer Book Mock QUESTION 2 2.1 MASINGITA HARDWARE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2026 Sales Cost of sales Gross profit Other operating income Discount received 4 260 Gross operating income Operating expenses Salaries and wages 386 000 Employer’s contributions 34 740 Insurance 26 400 Water and electricity 41 300 Repairs and maintenance 12 600 Sundry expenses 8 930 Operating profit Interest income Profit before interest expense Interest expense Net profit for the year 46 Copyright reserved Please turn over

Accounting/P1 4 Hlayiso/Mock 2026 NSC – Answer Book Mock 2.2 GAAP principle and explanation 2 2.3 ONE credit-control measure to reduce bad debts 2 TOTAL MARKS 50 Copyright reserved Please turn over

Accounting/P1 5 Hlayiso/Mock 2026 NSC – Answer Book Mock QUESTION 3 3.1.1 TRADE AND OTHER RECEIVABLES Trade debtors 5 3.1.2 TRADE AND OTHER PAYABLES Trade creditors 10 Copyright reserved Please turn over

Accounting/P1 6 Hlayiso/Mock 2026 NSC – Answer Book Mock 3.2 LERATO’S BAKING SUPPLIES STATEMENT OF FINANCIAL POSITION ON 28 FEBRUARY 2026 ASSETS Non-current assets Fixed assets at carrying value Current assets Inventories Trade and other receivables Cash and cash equivalents TOTAL ASSETS EQUITY AND LIABILITIES Owner’s equity Non-current liabilities Current liabilities TOTAL EQUITY AND LIABILITIES 25 TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P1 7 Hlayiso/Mock 2026 NSC – Answer Book Mock QUESTION 4 4.1.1 4.1 4.1.2 3 4.1.3 4.2 4.2.1 % operating expenses on sales WORKINGS ANSWER 3 4.2.2 % mark-up achieved WORKINGS ANSWER 3 4.2.3 Current ratio WORKINGS ANSWER 3 4.2.4 Acid-test ratio WORKINGS ANSWER 4 4.2.5 % return on average owner’s equity WORKINGS ANSWER 4 Copyright reserved Please turn over

Accounting/P1 8 Hlayiso/Mock 2026 NSC – Answer Book Mock 4.3 4.3.1 Comment on the liquidity of the business. Quote TWO financial indicators. 4 4.3.2 TWO possible reasons why the mark-up achieved was lower than planned 2 4.3.3 Should Khanyisa be satisfied with the return on her investment? Quote TWO figures. 4 TOTAL MARKS 30 Copyright reserved