Accounting Grade 10 P2 November Mock Exam 2 2026 QP (Eng)

Mock hlayiso mock exams Practice Series: Grade 10 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 10 ACCOUNTING P2 NOVEMBER EXAMINATION 2026 (MOCK) MARKS: 150 TIME: 2 hours This question paper consists of 12 pages, a formula sheet and a special answer book. Copyright reserved Please turn over

Accounting/P2 2 Hlayiso/Mock 2026 NSC Mock INSTRUCTIONS AND INFORMATION Read the following instructions carefully and follow them precisely. 1. Answer ALL the questions. 2. A special ANSWER BOOK is provided in which to answer ALL the questions. 3. A Formula Sheet is attached at the end of this question paper. 4. Show ALL workings to earn part-marks. 5. You may use a non-programmable calculator. 6. You may use a dark pencil or blue/black ink to answer the questions. 7. Where applicable, show ALL calculations to ONE decimal place (percentages). 8. Write neatly and legibly. 9. Use the information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS MINUTES 1 Creditors’ Reconciliation and Internal Control 40 32 2 Fixed Assets 30 24 3 Cost Accounting 30 24 4 Budgeting 25 20 5 VAT, Inventory and Ethics 25 20 TOTAL 150 120 Copyright reserved Please turn over

Accounting/P2 3 Hlayiso/Mock 2026 NSC Mock QUESTION 1: CREDITORS’ RECONCILIATION AND INTERNAL CONTROL (40 marks; 32 minutes) 1.1 CONCEPTS Indicate whether the following statements are TRUE or FALSE. Write only ‘true’ or ‘false’ next to the question numbers (1.1.1 to 1.1.4) in the ANSWER BOOK. 1.1.1 Creditors’ Control is a liability account in the General Ledger. 1.1.2 Payments made to creditors are posted to the credit side of their accounts in the Creditors’ Ledger. 1.1.3 A credit note is received from a supplier when goods bought on credit are returned to the supplier. 1.1.4 Discount received from creditors decreases the amount that the business owes to them. (4) 1.2 MOKOENA HARDWARE The information relates to Mokoena Hardware, owned by Lerato Mokoena, for August 2026. The balance of the Creditors’ Control account did not agree with the total of the Creditors’ List on 31 August 2026. The journals for August have not yet been closed off. REQUIRED: 1.2.1 Prepare the Creditors’ Control account in the General Ledger for August 2026. Take the errors and omissions in Information D into account. Balance the account. (14) 1.2.2 Use the table in the ANSWER BOOK to prepare the correct Creditors’ List on 31 August 2026. Indicate + or − for EACH correction. (12) INFORMATION: A. Balance of the Creditors’ Control account on 1 August 2026: R38 640 (credit) B. Totals in the journals for August 2026 (before correcting the errors): Creditors’ Journal (creditors’ control column) R47 300 Creditors’ Allowances Journal (creditors’ control R2 860 column) Cash Payments Journal: creditors’ control column R41 750 Cash Payments Journal: discount received column R1 120 General Journal: creditors’ control (debit) – transfer to R900 the Debtors’ Ledger General Journal: creditors’ control (credit) – interest R450 charged by a creditor Copyright reserved Please turn over

Accounting/P2 4 Hlayiso/Mock 2026 NSC Mock C. Creditors’ List on 31 August 2026 (before correcting the errors): Atlas Tools R6 280 Bongi Suppliers R9 470 Delta Wholesalers R12 350 Excel Distributors R5 860 Fourie Paints R5 180 R39 140 D. Errors and omissions: (i) The creditors’ control column in the Creditors’ Journal was overcast by R1 000. (ii) An invoice of R3 150 received from Bongi Suppliers was correctly recorded in the Creditors’ Journal, but was posted to the account of Delta Wholesalers. (iii) Damaged goods of R620 were returned to Delta Wholesalers. The debit note issued for these goods was not recorded at all. (iv) An EFT of R4 280 to Excel Distributors was correctly recorded in the Cash Payments Journal, but was posted to the creditor’s account as R4 820. (v) Fourie Paints granted a discount of R160 for early payment. The discount was correctly recorded in the Cash Payments Journal, but was not posted to the account of Fourie Paints. (vi) A credit note of R380 received from Atlas Tools was correctly recorded in the Creditors’ Allowances Journal, but was posted to the wrong side of the account of Atlas Tools. (vii) An invoice of R5 400 received from Atlas Tools for a new tile-cutting machine (equipment) bought on credit was not recorded at all. Copyright reserved Please turn over

Accounting/P2 5 Hlayiso/Mock 2026 NSC Mock 1.3 INTERNAL CONTROL 1.3.1 Explain why the balance of the Creditors’ Control account must always agree with the total of the Creditors’ List. (2) 1.3.2 Read the information below and answer the questions. Sipho, the senior clerk at Mokoena Hardware, places all the orders with suppliers, signs for the goods when they are delivered and also makes the EFT payments to creditors. Lerato noticed that the business has paid R18 600 to a new supplier, Sipho’s cousin, during the past three months, but she cannot find these goods in the storeroom or in the sales records. (a) Explain why Sipho’s actions appear to be unethical. (2) (b) Give THREE internal control measures that Lerato can introduce to prevent this from happening again. (6) [40] Copyright reserved Please turn over

Accounting/P2 6 Hlayiso/Mock 2026 NSC Mock QUESTION 2: FIXED ASSETS (30 marks; 24 minutes) 2.1 Indicate whether the following statements are TRUE or FALSE. Write only ‘true’ or ‘false’ next to the question numbers (2.1.1 to 2.1.3) in the ANSWER BOOK. 2.1.1 Accumulated depreciation on vehicles is shown as an expense in the Income Statement. 2.1.2 For the same asset, the diminishing-balance method results in a lower depreciation amount every year. 2.1.3 The cost of installing a new machine before it is used forms part of the cost of the machine. (3) 2.2 SWIFTLINE COURIERS Ayanda Khoza owns Swiftline Couriers. The financial year ends on 30 June each year. REQUIRED: 2.2.1 Refer to Information A. Complete the Fixed Asset Register for the delivery van for the financial years ended 30 June 2025 and 30 June 2026. (7) 2.2.2 Refer to Information B and C. Calculate the missing amounts indicated by (a) to (i) in the Fixed (Tangible) Assets note on 30 June 2026. (16) 2.3 Swiftline Couriers has laptops and hand-held scanners in its dispatch office. Two scanners went missing last month. Give TWO internal control measures that Ayanda can use to protect this equipment. (4) INFORMATION: A. A delivery van (Toyota Hiace, registration ND 482-761) was bought from Coastal Motors on 1 November 2024 for R384 000. Vehicles are depreciated at 20% p.a. on the diminishing-balance method. Copyright reserved Please turn over

Accounting/P2 7 Hlayiso/Mock 2026 NSC Mock B. Extract from the Fixed (Tangible) Assets note on 30 June 2026: Land and buildings Vehicles Equipment Carrying value (1 July 2025) 1 850 000 658 400 (g) Cost 1 850 000 900 000 180 000 Accumulated depreciation – (c) (72 000) Movements Additions at cost (a) – 24 000 Depreciation – (d) (h) Carrying value (30 June 2026) (b) (e) (i) Cost ? 900 000 204 000 Accumulated depreciation – (f) ? C. Additional information: (i) An empty plot next to the business premises was bought on 1 February 2026 for R240 000. Transfer duty and legal fees of R18 600 were paid on the same day to register the plot in the name of the business. Both amounts were correctly recorded. (ii) No vehicles were bought or sold during the year. The delivery van in Information A is one of the vehicles. (iii) A new parcel-sorting machine was bought on 1 March 2026 for R21 500. Installation costs of R2 500 were paid on the same day. The machine was used from 1 March 2026. (iv) Equipment is depreciated at 15% p.a. on cost. [30] Copyright reserved Please turn over

Accounting/P2 8 Hlayiso/Mock 2026 NSC Mock QUESTION 3: COST ACCOUNTING (30 marks; 24 minutes) 3.1 CONCEPTS Choose the correct word(s) from those given in brackets. Write only the word(s) next to the question numbers (3.1.1 to 3.1.4) in the ANSWER BOOK. 3.1.1 Direct material cost plus direct labour cost is called the (prime cost/overhead cost). 3.1.2 The wages of the person who cleans the factory floor are a/an (direct/indirect) labour cost. 3.1.3 The cost of fuel for delivering finished goods to customers is a (factory overhead/selling and distribution) cost. 3.1.4 A business that changes raw materials into finished products is a (trading/manufacturing) business. (4) 3.2 THANDEKA’S POTTERY Thandeka Mahlangu manufactures ceramic coffee mugs in a small factory in Soweto. She produced 3 200 mugs during August 2026 and sells them at R45 each. REQUIRED: Calculate the following for August 2026: 3.2.1 Direct material cost per mug (3) 3.2.2 Total direct material cost (2) 3.2.3 Total direct labour cost (2) 3.2.4 Prime cost (2) 3.2.5 Factory overhead cost (6) 3.2.6 Total cost of production (2) 3.2.7 Cost of production per mug (2) 3.2.8 Percentage mark-up achieved on the cost of production per mug (3) 3.3 Explain the difference between a fixed cost and a variable cost. Give ONE example of EACH from Thandeka’s business. (4) INFORMATION: A. Costs per mug: Clay: 0,4 kg per mug at R18 per kg Glaze (colour coating) per mug R3,10 Printed design sticker (decal) per mug R1,70 Wages of potters: paid per mug completed R9,50 Copyright reserved Please turn over

Accounting/P2 9 Hlayiso/Mock 2026 NSC Mock B. Costs for August 2026: Rent of the building (the factory uses 80% of the R12 000 building) Electricity for the kiln (oven) in the factory R5 280 Salary of the factory supervisor R8 500 Depreciation on the kiln R1 250 Insurance on the factory R620 Sponges, brushes and cleaning materials used in the R350 factory Salary of the office administrator R6 000 Delivery costs to coffee shops R2 400 [30] QUESTION 4: BUDGETING (25 marks; 20 minutes) 4.1 Choose a term from the list below that matches each description. Write only the term next to the question numbers (4.1.1 to 4.1.3) in the ANSWER BOOK. project budget; cash budget; surplus; deficit; capital budget 4.1.1 A budget prepared for a once-off event or trip 4.1.2 When the expected payments are more than the expected receipts 4.1.3 A plan of the money a business expects to receive and pay out over the next few months (3) 4.2 SIYAKHULA SECONDARY SCHOOL CHOIR The choir of Siyakhula Secondary School in Polokwane has been invited to a choir festival in Durban during the December 2026 school holidays. The choir treasurer must prepare a budget for the tour (4 days, 3 nights). REQUIRED: Calculate the following: 4.2.1 Cost of hiring the bus (3) 4.2.2 Cost of accommodation for the learners (2) 4.2.3 Cost of meals for the whole group (2) 4.2.4 Cost of the visit to the aquarium (3) 4.2.5 Total cost of the tour (include the accommodation of the teachers) (3) 4.2.6 The amount that EACH learner must contribute (5) 4.3 The parents feel that the amount in 4.2.6 is too high. Suggest TWO ways in which the choir can reduce the amount that each learner must pay. Do NOT repeat the sources of money mentioned in Information F. (4) Copyright reserved Please turn over

Accounting/P2 10 Hlayiso/Mock 2026 NSC Mock INFORMATION: A. The group consists of 32 learners and 3 teachers. B. Bus hire: R14 500 plus R4,20 per km. The return distance from Polokwane to Durban is 1 760 km. C. Accommodation (3 nights): • Learners stay in a youth hostel at R285 per learner per night. • Each teacher has a single room at R450 per night. D. Meals: R95 per person per day for breakfast and supper for 4 days (learners and teachers). E. Other costs: • Visit to an aquarium: R200 per person. Groups of 30 people or more receive a discount of 15%. The whole group will go. • Festival entry fee for the choir: R1 800 • Choir T-shirts: R160 per learner F. Sources of money: • The school will pay for the teachers’ accommodation. • A local supermarket has promised a sponsorship of R9 000. • A cake sale and a car wash held by the choir raised R8 022. • The rest of the cost must be shared equally by the learners. [25] Copyright reserved Please turn over

Accounting/P2 11 Hlayiso/Mock 2026 NSC Mock QUESTION 5: VAT, INVENTORY AND ETHICS (25 marks; 20 minutes) 5.1 VAT CONCEPTS Choose the correct word(s) from those given in brackets. Write only the word(s) next to the question numbers (5.1.1 to 5.1.3) in the ANSWER BOOK. 5.1.1 VAT charged by a vendor on goods sold to customers is called (input/output) VAT. 5.1.2 Brown bread and fresh vegetables are (zero-rated/exempt) items. 5.1.3 VAT is a/an (direct/indirect) tax. (3) 5.2 VAT CALCULATIONS Complete the table in the ANSWER BOOK by calculating the missing amounts (5.2.1 to 5.2.3). Use the standard VAT rate of 15%. No. Amount excluding VAT VAT Amount including VAT 5.2.1 R1 240,00 ? ? (6) 5.2.2 ? ? R3 588,00 5.2.3 ? R81,60 ? 5.3 MASEGO’S SPORTS SHOP Masego Pule owns a sports shop. She uses the perpetual inventory system and marks up all goods by 60% on cost. The Trading Stock account for August 2026 is shown below. GENERAL LEDGER OF MASEGO’S SPORTS SHOP TRADING STOCK Dr Cr 2026 2026 Aug 1 Balance b/d 48 200 Aug 31 Creditors’ control CAJ 2 300 31 A CPJ 12 600 Cost of sales CRJ B Creditors’ control CJ 31 400 Cost of sales DJ C Cost of sales DAJ 1 500 Drawings GJ 950 Petty cash PCJ 180 Balance c/d D 93 880 93 880 REQUIRED: 5.3.1 Give the contra account (details) for entry A. (1) 5.3.2 Explain the entry of R1 500 on the debit side. (2) 5.3.3 Calculate the amount of entry B. Cash sales for August were R40 000. (2) 5.3.4 Calculate the amount of entry C. Credit sales for August were R28 800. (2) 5.3.5 Calculate the balance indicated by D. (2) Copyright reserved Please turn over

Accounting/P2 12 Hlayiso/Mock 2026 NSC Mock 5.3.6 A physical stock count on 31 August 2026 showed trading stock of R46 870. Calculate the stock difference and give ONE possible reason for it. (3) 5.4 ETHICS Masego is a registered VAT vendor. She has started offering customers who pay in cash a ‘special price’ that is 10% lower, on condition that they do not ask for a tax invoice. These sales are not recorded in the books, so that she does not have to pay VAT on them. Explain why Masego’s actions are unethical and illegal, and state ONE possible consequence for her if SARS finds out. (4) [25] TOTAL: 150 Copyright reserved Please turn over

Accounting/P2 13 Hlayiso/Mock 2026 NSC Mock GRADE 10 ACCOUNTING: FORMULA SHEET Gross profit 100 Gross profit 100 × × Sales 1 Cost of sales 1 Net profit 100 Operating expenses 100 × × Sales 1 Sales 1 Current assets : Current liabilities (Current assets – Inventories) : Current liabilities Total cost of production Actual amount − Budgeted amount 100 × Number of units produced Budgeted amount 1 Copyright reserved