Accounting Grade 10 P1 November Mock 2026 Memo (English)

hlayiso mock exams Practice Series: Grade 10 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 10 ACCOUNTING P1 NOVEMBER EXAMINATION 2026 (MOCK) MARKING GUIDELINES MARKS: 150 These marking guidelines consist of 9 pages. Copyright reserved Please turn over

Accounting/P1 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 penalty for misplaced items). No double penalty for incorrect calculations. 2. Penalties for placement or poor presentation (e.g. details) 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. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the workings for that figure (not the method mark for the answer). 5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. If no sign or bracket is given, assume that the figure is positive. 6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers from candidates. 7. If candidates provide more than the required number of responses, mark only the required number in the order presented. 8. Where method marks are awarded for operation, the marker must inspect the reasonableness of the answer. 9. In calculations, do not award marks for workings if the numerator and denominator are swapped. This also applies to ratios. 10. ✓ = 1 mark. ⊡ = one part correct (operation and one part correct; method mark for an answer that is not a stand-alone figure). 11. Codes: f = foreign item; p = placement/presentation. Copyright reserved Please turn over

Accounting/P1 3 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 1 1.1.1 C✓ 1.1.2 B✓ 1.1 1.1.3 E✓ 5 1.1.4 A✓ 1.1.5 D✓ 1.2 No. Account debited Account credited Amount A OE L e.g. Telephone Bank 1 250 − − 0 1.2.1 Vehicles Capital ✓ 180 000 ✓ +✓ +✓ 0 1.2.2 Debtors’ control Sales ✓ 8 000 ✓ +✓ +✓ 0 Cost of sales Trading stock 5 000 ✓✓ −✓ −✓ 0 1.2.3 Creditors’ control ✓ Bank 3 400 ✓ −✓ 0 −✓ Creditors’ control Discount received ✓ 200 ✓ 0 +✓ −✓ 1.2.4 Rent income ✓ Income received in 9 000 ✓ 0 −✓ +✓ advance ✓ 25 Cost of sales: 8 000 × 100/160 = 5 000. Rent in advance: 2 × 4 500 = 9 000. Zero (0) effects are not marked, but if a candidate shows an effect where there should be none, do not award the mark for the related effect in that row. 1.2.3: accept the two entries combined as Creditors’ control debited R3 600, with Bank R3 400 and Discount received R200 credited, if the effects are correct (A −3 400; OE +200; L −3 600). TOTAL MARKS 30 Copyright reserved Please turn over

Accounting/P1 4 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 2 2.1 LETHABO TRADERS STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2026 Sales (2 016 000 + 4 500 ✓ – 18 900 ✓) 2 001 600 ⊡ Cost of sales (1 120 000 + 2 500 ✓✓) 4 500 × 100/180 (1 122 500) ⊡ Gross profit check operation 879 100 ✓ Other operating income check operation 90 690 ✓ Rent income (56 160 + 11 880 ✓✓) 5 940 × 2 months 68 040 ⊡ 5 940 = 5 400 × 110%; full year: (5 400 × 6) + (5 940 × 6) = 68 040 Commission income (21 300 – 1 800) 19 500 ✓✓ Discount received 3 150 ✓ Gross operating income check operation 969 790 ✓ Operating expenses check operation (580 065) ✓ Salaries and wages (312 000 + 14 500) 326 500 ✓ Employer’s contributions (28 080 + 1 450) 29 530 ✓ Insurance (22 800 – 5 600 ✓✓) 8 400 × 8/12 17 200 ⊡ Water and electricity (34 560 + 3 160) 37 720 ✓ Stationery (11 240 – 980) 10 260 ✓ Advertising 26 500 Bank charges (4 860 + 385) 5 245 ✓ Telephone 12 900 Bad debts (3 600 + 1 450) 5 050 ✓ Discount allowed 2 340 ✓ Donations 1 600 ✓ Sundry expenses 9 870 Trading stock deficit (141 850 ✓✓ – 139 700) 2 150 ⊡ Expected stock: 148 600 – 2 500 (sale to N Dube) – 1 600 (donation) – 2 650 (drawings) = 141 850 Depreciation (84 000 ✓✓ + 8 400 ✓✓ + 800 ✓✓) 93 200 ⊡ Vehicles: 420 000 × 20%; old equipment: (164 000 – 24 000 – 56 000) × 10%; new equipment: 24 000 × 10% × 4/12 Operating profit check operation 389 725 ✓ Interest income (7 200 + 2 400 ✓✓ + 180 ✓) 9 780 ⊡ 120 000 × 8% = 9 600 for the year; 9 600 – 7 200 = 2 400 outstanding Profit before interest expense check operation 399 505 ✓ Interest expense (309 400 – 360 000 + 90 000 [7 500 × 12]) (39 400) ✓✓ Net profit for the year check operation 360 105 ✓ 46 ⊡ one part correct. Where a total is marked “check operation”, award the mark if the operation is correct and at least one figure is correct. Do not penalise for brackets in the operating expenses section. –1 foreign items (max –2). Drawings (R2 650) is a foreign item in this statement. Copyright reserved Please turn over

Accounting/P1 5 Hlayiso/Mock 2026 NSC – Marking Guidelines 2.2 Business entity (principle) ✓ Explanation ✓: The business and the owner are separate entities; the owner’s private transactions must be kept separate from those of the 2 business (goods taken by the owner reduce her equity, not the profit). 2.3 Any ONE valid measure ✓✓: regular (surprise) stock counts compared with the records; restrict access to the storeroom; division of duties between ordering, receiving and recording stock; install 2 security cameras/alarms; record all goods taken by the owner on a stock-withdrawal form. TOTAL MARKS 50 Copyright reserved Please turn over

Accounting/P1 6 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 3 3.1.1 OWNER’S EQUITY Balance on 1 July 2025 780 000 ✓ Capital contribution 60 000 ✓ Net profit for the year (188 600 – 2 750) 185 850 ✓✓ Drawings (96 000 + 3 200) (99 200) ✓✓ Balance on 30 June 2026 926 650 ⊡ 7 Accept the capital contribution added to the opening balance (840 000) if clearly shown. Balance: one part correct. 3.1.2 TRADE AND OTHER PAYABLES Trade creditors (72 450 – 1 650 ✓) 70 800 ✓ Accrued expenses (1 380 + 2 750 ✓) 4 130 ✓ Income received in advance 6 500 ✓ Creditors for salaries / deductions (4 860 + 620 + 2 940) 8 420 ✓✓ 89 850 ⊡ 8 SARS (PAYE), UIF and pension fund may be shown as separate items (award ✓✓ if all three are included). Total: one part correct. Copyright reserved Please turn over

Accounting/P1 7 Hlayiso/Mock 2026 NSC – Marking Guidelines 3.2 ZINHLE’S DÉCOR: STATEMENT OF FINANCIAL POSITION ON 30 JUNE 2026 ASSETS Non-current assets check operation 934 800 ✓ Fixed assets at carrying value 834 800 Fixed deposit: Lwazi Bank (150 000 – 50 000 ✓) 100 000 ✓ Current assets check operation 320 900 ✓ Inventories (186 300 – 3 200 ✓ – 1 650 ✓ + 1 250 ✓) 182 700 ⊡ Trade and other receivables (64 800 + 2 100 ✓ + 1 125 ✓) 68 025 ⊡ Cash and cash equivalents (18 675 ✓ + 1 500 ✓ + 50 000 ✓) 70 175 ⊡ TOTAL ASSETS check operation 1 255 700 ✓ EQUITY AND LIABILITIES Owner’s equity see 3.1.1 926 650 ✓ Non-current liabilities 191 200 ⊡ Loan: Mzansi Bank (280 000 – 72 000 ✓ + 31 200 ✓ – 48 000 ✓) 191 200 Current liabilities check operation 137 850 ✓ Trade and other payables see 3.1.2 89 850 ✓ Current portion of loan 48 000 ✓ TOTAL EQUITY AND LIABILITIES check operation 1 255 700 ✓ 25 Accept the short-term fixed deposit (R50 000) shown as a separate current asset. Loan repayments: 6 000 × 12 = 72 000. –1 foreign items, –1 misplaced items (max –2). TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P1 8 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 4 4.1.1 Liquidity ✓ 4.1 4.1.2 Solvency ✓ 3 4.1.3 Profitability ✓ 4.2.1 % mark-up achieved WORKINGS ANSWER (1 450 000 – 1 000 000) = 450 000 ✓ / 1 000 000 ✓ × 45,0% ⊡ 3 100 4.2.2 % net profit on sales WORKINGS ANSWER 91 500 ✓ / 1 450 000 ✓ × 100 6,3% ⊡ 3 4.2.3 Acid-test ratio WORKINGS ANSWER (330 000 ✓ – 205 000 ✓) : 180 000 ✓ 0,7 : 1 ⊡ (OR: 98 000 + 27 000 : 180 000) 125 000 : 180 000 4 Accept 0,69 : 1. Answer must be expressed as x : 1. 4.2.4 Solvency ratio WORKINGS ANSWER 980 000 ✓ : 420 000 ✓ 2,3 : 1 ⊡ 3 (240 000 + 180 000 = 420 000) 4.2.5 % return on average owner’s equity WORKINGS ANSWER 91 500 ✓ / ½ (560 000 + 540 000) ✓✓ × 100 16,6% ⊡ 4 91 500 / 550 000 × 100 Copyright reserved Please turn over

Accounting/P1 9 Hlayiso/Mock 2026 NSC – Marking Guidelines 4.3.1 Financial indicator ✓: % operating expenses on sales Figures/trend ✓: increased from 21,0% to 25,0% Comment ✓: operating expenses grew faster than sales; expenses are not well controlled. 3 (OR: % net profit on sales decreased from 9,8% to 6,3% because of the higher expenses.) 4.3.2 Indicators and figures ✓✓ ✓✓: – Current ratio decreased from 2,1 : 1 to 1,8 : 1. – Acid-test ratio decreased from 1,0 : 1 to 0,7 : 1 (see 4.2.3). Comment: liquidity has deteriorated. The business has R0,70 of quick assets for every R1 of current liabilities and depends on selling stock to 4 pay its short-term debts. (Cash and cash equivalents also decreased from R66 000 to R27 000; inventories increased from R187 000 to R205 000.) (Max 2 marks per indicator: indicator with figures ✓, trend/comment ✓.) 4.3.3 Figures ✓✓: – ROE decreased from 21,4% to 16,6% (see 4.2.5). – The return is still almost double the interest rate on fixed deposits of 8,5% (alternative investment). 3 Opinion ✓: Yes, he should be satisfied, because the return is higher than the alternative investment, although it has decreased. (Accept “partly satisfied/not satisfied” if supported by the decrease in ROE.) TOTAL MARKS 30 Copyright reserved