# Accounting Grade 10 P2 November Mock Exam 2 2026 Memo (Eng) > Grade 10 Accounting Paper 2 memorandum from the November Mock Exam 2 2026 (English), 8 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/grade-10-accounting-2026-november-mock-exam-2-memorandum-paper-2/3383a451-2987-495f-a231-c33f8e26ed72 - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 10 - Language: English - Document type: Memorandum - Year: 2026 - Exam period: November Mock Exam 2 - Paper: 2 - Publisher: Hlayiso - Curriculum: CAPS - Pages: 8 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 10](https://www.hlayiso.com/library/grade-10) › [Accounting](https://www.hlayiso.com/library/grade-10/accounting) › [Accounting Grade 10 P2 November Mock Exam 2 2026 Memo (Eng)](https://www.hlayiso.com/library/grade-10-accounting-2026-november-mock-exam-2-memorandum-paper-2/3383a451-2987-495f-a231-c33f8e26ed72) ## About this document Accounting · Grade 10 · November Mock Exam 2 · 2026 · English. Memorandum, 8 pages. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 Mock hlayiso mock exams Practice Series: Grade 10 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 10 ACCOUNTING P2 NOVEMBER EXAMINATION 2026 (MOCK) MARKING GUIDELINES MARKS: 150 These marking guidelines consist of 8 pages. Copyright reserved Please turn over ### Page 2 Accounting/P2 2 Hlayiso/Mock 2026 NSC – Marking Guidelines MARKING PRINCIPLES: 1. Penalties for foreign items are applied only if the candidate is not losing marks elsewhere in the question for that item. No double penalty for incorrect calculations. 2. Penalties for placement or poor presentation are applied only if the candidate is earning marks on the figures for that item. 3. Unless otherwise stated, give full marks for the correct answer. If the answer is incorrect, mark the workings provided. 4. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. 5. If candidates provide more than the required number of responses, mark only the required number in the order presented. 6. Where method marks are awarded for operation, the marker must inspect the reasonableness of the answer. 7. Be aware of candidates who provide valid alternatives beyond the marking guidelines. 8. ✓ = 1 mark. ⊡ = one part correct (operation and one part correct; method mark for an answer that is not a stand-alone figure). Copyright reserved Please turn over ### Page 3 Accounting/P2 3 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 1 1.1.1 True ✓ 1.1.2 False ✓ 1.1 1.1.3 True ✓ 4 1.1.4 True ✓ 1.2.1 GENERAL LEDGER OF MOKOENA HARDWARE CREDITORS’ CONTROL Dr Cr 2026 2026 Aug Bank CPJ 41 750 ✓ Aug 1 Balance b/d 38 640 ✓ 31 Discount CPJ 1 120 ✓ 31 Creditors’ CJ 46 300 ✓✓ received journal (purchases) Creditors’ CAJ 3 480 ✓✓ Equipment CJ 5 400 ✓✓ allowances Journal debits GJ 900 ✓ Journal credits GJ 450 ✓ Balance c/d 43 540 ⊡ 90 790 90 790 ✓ Sep 1 Balance b/d 43 540 ✓ 14 Creditors’ journal: 47 300 – 1 000 = 46 300. Creditors’ allowances: 2 860 + 620 = 3 480. Accept the invoice of R5 400 included in the Creditors’ Journal total: 51 700 (✓✓✓✓). Award marks for details and amounts; ignore folios and dates. Totals: both sides must agree. Accept “Bank and discount received” combined as 42 870 (✓✓). Accept Debtors’ control for 900 and Interest on overdue accounts / Interest expense / Sundry accounts for 450. For the 5 400 accept Equipment with folio CJ or GJ. 1.2.2 CREDITORS’ LIST ON 31 AUGUST 2026 Creditor Balance Corrections (+ or −) Correct balance Atlas Tools 6 280 − 760 ✓✓ (380 × 2) + 5 400 ✓ 10 920 Bongi Suppliers 9 470 + 3 150 ✓ 12 620 Delta 12 350 − 3 150 ✓ − 620 ✓ 8 580 Wholesalers Excel Distributors 5 860 + 540 ✓✓ (4 820 – 4 280) 6 400 Fourie Paints 5 180 − 160 ✓✓ 5 020 39 140 43 540 ✓⊡ 12 Award marks for the correct amount with the correct sign in the correct creditor’s row. Atlas Tools: award one mark if R380 is deducted only once. Error (i) affects only the control account (no entry on the list). Total: ⊡ one part correct; the other mark only if the total agrees with the control account balance in 1.2.1. Copyright reserved Please turn over ### Page 4 Accounting/P2 4 Hlayiso/Mock 2026 NSC – Marking Guidelines 1.3.1 Any ONE valid explanation ✓✓: the Creditors’ Control account is the summary (total) of all the individual creditors’ accounts in the Creditors’ Ledger; if they do not agree, there are errors or omissions that must be 2 found and corrected; it proves that the amounts owed to each supplier are correct. 1.3.2 (a) Any ONE valid explanation ✓✓: he is paying for goods that were not received, so he steals from the business/benefits his cousin (conflict of interest); he abuses the trust placed in him; it is fraud that causes a loss 2 of R18 600 to the business. 1.3.2 (b) Any THREE ✓✓ ✓✓ ✓✓: – Division of duties: different people must order goods, receive/check goods and make payments. – Payments to creditors must be authorised (approved) by Lerato, and only against an original invoice matched with an order and a signed goods-received note (delivery note). – New suppliers must be approved by the owner before orders are placed 6 (approved supplier list; obtain quotations). – Goods received must be checked and recorded by the storeroom; do regular stock counts and compare them with purchases. – Two signatories/approvals for EFTs; check bank statements and creditors’ statements monthly. – Rotate duties; do surprise internal audits. TOTAL MARKS 40 Copyright reserved Please turn over ### Page 5 Accounting/P2 5 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 2 2.1.1 False ✓ 2.1 2.1.2 True ✓ 3 2.1.3 True ✓ 2.2.1 FIXED ASSET REGISTER Delivery van, Coastal Motors, bought 1 November 2024, cost R384 000, 20% p.a. diminishing balance (given in the ANSWER BOOK) Year ended Depreciation Accumulated Carrying depreciation value 30 June 2025 51 200 ✓✓ 51 200 332 800 ⊡ 384 000 × 20% × 8/12 30 June 2026 66 560 ✓✓ 117 760 ⊡ 266 240 ⊡ 332 800 × 20% 7 2025: one mark for 384 000 × 20%, one for 8/12. 2026: one mark for using the carrying value (CA), one for the answer. 2.2.2 MISSING AMOUNTS IN THE FIXED (TANGIBLE) ASSETS NOTE WORKINGS ANSWER (a) 240 000 ✓ + 18 600 ✓ (transfer duty and legal fees 258 600 are part of the cost) (b) 1 850 000 + 258 600 2 108 600 ⊡ (c) 900 000 – 658 400 241 600 ✓ (d) 658 400 ✓✓ × 20% 131 680 ⊡ (e) 658 400 – 131 680 526 720 ⊡ (f) 241 600 ✓ + 131 680 373 280 ⊡ (g) 180 000 – 72 000 108 000 ✓ (h) Old: 180 000 × 15% = 27 000 ✓✓ 28 200 ⊡ New: 24 000 × 15% × 4/12 = 1 200 ✓ (i) 108 000 + 24 000 – 28 200 (OR 204 000 – 100 200) 103 800 ⊡ 16 (d): CA from (c); includes the van’s R66 560. (h): 4 months (March–June); if installation is left out (1 075), no mark for the new machine. Brackets are not required. 2.3 Any TWO ✓✓ ✓✓: asset register with serial numbers + regular physical checks; engrave/mark equipment; lock it away after hours; staff sign scanners/laptops out and in each shift; security cameras/access 4 control; insurance; one person responsible. TOTAL MARKS 30 Copyright reserved Please turn over ### Page 6 Accounting/P2 6 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 3 3.1.1 Prime cost ✓ 3.1.2 Indirect ✓ 3.1 3.1.3 Selling and distribution ✓ 4 3.1.4 Manufacturing ✓ 3.2.1 Direct material cost per mug WORKINGS ANSWER (0,4 × R18) = 7,20 ✓ + 3,10 ✓ + 1,70 ✓ R12,00 3 3.2.2 Total direct material cost WORKINGS ANSWER 12,00 ✓ × 3 200 38 400 ⊡ 2 3.2.3 Total direct labour cost WORKINGS ANSWER 9,50 ✓ × 3 200 30 400 ⊡ 2 3.2.4 Prime cost WORKINGS ANSWER 38 400 + 30 400 ✓ 68 800 ⊡ 2 3.2.5 Factory overhead cost WORKINGS ANSWER Rent: 12 000 × 80% = 9 600 ✓✓ 25 600 ⊡ Kiln electricity 5 280 ✓ + supervisor 8 500 ✓ + depreciation 1 250 + insurance 620 + cleaning 6 materials 350 ✓ Office salary and delivery costs are NOT factory overheads: if included, no method mark. 3.2.6 Total cost of production WORKINGS ANSWER 68 800 + 25 600 ✓ 94 400 ⊡ 2 3.2.7 Cost of production per mug WORKINGS ANSWER 94 400 / 3 200 ✓ R29,50 ⊡ 2 3.2.8 % mark-up achieved WORKINGS ANSWER (45,00 – 29,50) = 15,50 ✓ / 29,50 ✓ × 100 52,5% ⊡ 3 3.3 Explanation ✓✓: fixed costs stay the same in total no matter how many units are produced; variable costs change in total with the number of units produced (they are the same per unit). Fixed cost example ✓ (any ONE): rent; salary of the factory supervisor; insurance; depreciation on the kiln; salary of the office administrator. 4 Variable cost example ✓ (any ONE): clay; glaze; decals; wages of potters (paid per mug); (kiln electricity, delivery costs – accept with a reason that they change with production/sales). TOTAL MARKS 30 Copyright reserved Please turn over ### Page 7 Accounting/P2 7 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 4 4.1.1 Project budget ✓ 4.1 4.1.2 Deficit ✓ 3 4.1.3 Cash budget ✓ 4.2.1 Cost of hiring the bus WORKINGS ANSWER 14 500 ✓ + (1 760 × R4,20) = 7 392 ✓ 21 892 ⊡ 3 4.2.2 Accommodation for the learners WORKINGS ANSWER 32 × R285 × 3 nights ✓ 27 360 ⊡ 2 4.2.3 Meals for the whole group WORKINGS ANSWER 35 ✓ × R95 × 4 days 13 300 ⊡ 2 4.2.4 Visit to the aquarium WORKINGS ANSWER 35 × R200 = 7 000 ✓ × 85% ✓ (7 000 – 1 050) 5 950 ⊡ 3 4.2.5 Total cost of the tour WORKINGS ANSWER 21 892 + 27 360 + 13 300 + 5 950 79 472 + teachers’ accommodation 4 050 ✓ (3 × 450 × 3) + festival entry 1 800 ✓ + T-shirts 5 120 ✓ (32 × 160) No separate mark for the total; candidates’ answers from 4.2.1 to 4.2.4 carry over (CA) into the addition. If the teachers’ 3 accommodation (4 050) is left out of 4.2.5 and the candidate then does not deduct it in 4.2.6, award the 4 050 mark in 4.2.6 for the correct net amount of 58 400; the candidate cannot earn the 4 050 mark twice. 4.2.6 Contribution per learner WORKINGS ANSWER 79 472 – 4 050 ✓ – 9 000 ✓ – 8 022 ✓ = 58 400 R1 825 ⊡ 5 58 400 / 32 learners ✓ 4.3 Any TWO valid suggestions ✓✓ ✓✓: ask other businesses/parents for more sponsorships or donations; hold more fundraising events (e.g. a concert by the choir, raffle, civvies day, selling refreshments); get quotations from other bus companies/hostels and choose the cheapest; ask for group discounts on accommodation and meals; pack own 4 meals/padkos; reduce optional costs (e.g. skip the aquarium visit or use the existing choir uniform instead of new T-shirts); shorten the tour by one night. TOTAL MARKS 25 Copyright reserved Please turn over ### Page 8 Accounting/P2 8 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 5 5.1.1 Output ✓ 5.1 5.1.2 Zero-rated ✓ 3 5.1.3 Indirect ✓ 5.2 No. Excluding VAT VAT Including VAT 5.2.1 1 240,00 186,00 ✓ 1 426,00 ✓ 5.2.2 3 120,00 ✓ 468,00 ✓ 3 588,00 5.2.3 544,00 ✓ 81,60 625,60 ✓ 6 Workings: 1 240 × 15%; 3 588 × 100/115; 81,60 × 100/15. CA for the 2nd amount. 5.3.1 Bank ✓ 1 5.3.2 Any ONE ✓✓: goods returned by debtors (customers) were taken back into stock at cost price (R1 500); the cost of sales is reduced by the 2 cost of the goods returned. 5.3.3 Entry B WORKINGS ANSWER 40 000 ✓ × 100/160 25 000 ⊡ 2 5.3.4 Entry C WORKINGS ANSWER 28 800 ✓ × 100/160 18 000 ⊡ 2 5.3.5 Balance D WORKINGS ANSWER 93 880 – (2 300 + 25 000 + 18 000 + 950) ✓ (93 880 – 47 630 ⊡ 2 46 250) 5.3.6 Stock difference and reason WORKINGS ANSWER 47 630 – 46 870 760 ✓ (shortage) Any ONE reason ✓✓: theft of stock (shoplifting or by staff); 3 goods damaged/lost and not recorded; errors in recording (e.g. goods taken by the owner, donations or returns not recorded); errors in the stock count. (CA from 5.3.5.) 5.4 Unethical and illegal ✓✓ (any ONE well explained): not recording sales to avoid paying VAT is tax evasion, which is a crime; she does not record the sales or declare the output VAT on them, so the VAT due to SARS is not paid; it is dishonest and falsifies the business records; it is unfair to honest competitors. 4 Consequence ✓✓ (any ONE): penalties and interest on the unpaid VAT; prosecution (fine or prison); an audit and damage to her reputation; cancellation of her VAT registration/repayment of all VAT owed. 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