Accounting Grade 10 P2 November Mock 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 11 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 point. 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 Debtors’ Reconciliation and Internal Control 40 32 2 Fixed Assets 30 24 3 Cost Accounting 30 24 4 Budgeting 25 20 5 Inventory Systems and Ethics 25 20 TOTAL 150 120 Copyright reserved Please turn over

Accounting/P2 3 Hlayiso/Mock 2026 NSC Mock QUESTION 1: DEBTORS’ 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 The Debtors’ Control account is kept in the Debtors’ Ledger. 1.1.2 A credit note is issued to a debtor who returns goods that were bought on credit. 1.1.3 Interest charged on an overdue account increases the balance of the debtor’s account. 1.1.4 Discount allowed to debtors is recorded in the Debtors’ Allowances Journal. (4) 1.2 UBUNTU ELECTRICAL The information relates to Ubuntu Electrical, owned by Themba Ngcobo, for March 2026. The balance of the Debtors’ Control account did not agree with the total of the Debtors’ List on 31 March 2026. REQUIRED: 1.2.1 Prepare the Debtors’ Control account in the General Ledger for March 2026. Take the errors and omissions in Information D into account. Balance the account. (12) 1.2.2 Use the table in the ANSWER BOOK to prepare the correct Debtors’ List on 31 March 2026. Indicate + or − for EACH correction. (12) INFORMATION: A. Balance of the Debtors’ Control account on 1 March 2026: R46 820 B. Totals in the journals for March 2026 (before correcting the errors): Debtors’ Journal (debtors’ control column) R58 600 Debtors’ Allowances Journal (debtors’ control column) R3 950 Cash Receipts Journal: debtors’ control column R52 400 Cash Receipts Journal: discount allowed column R1 280 General Journal: debtors’ control (debit) – interest on R640 overdue accounts General Journal: debtors’ control (credit) – bad debts R1 350 written off Copyright reserved Please turn over

Accounting/P2 4 Hlayiso/Mock 2026 NSC Mock C. Debtors’ List on 31 March 2026 (before correcting the errors): M Naidoo R7 450 L Nkosi R8 700 P Botha R4 930 T Khumalo R16 740 S Dlamini R13 900 R51 720 D. Errors and omissions: (i) The debtors’ control column in the Debtors’ Journal was undercast by R900. (ii) An invoice of R2 400 issued to M Naidoo was correctly recorded in the Debtors’ Journal but was posted to the account of L Nkosi. (iii) A credit note of R560 issued to P Botha for goods returned was not recorded at all. (iv) A receipt of R1 900 from T Khumalo was correctly recorded in the Cash Receipts Journal, but was posted to the debit side of his account. (v) S Dlamini paid his account before the due date and received a discount of R120. The discount was correctly recorded in the Cash Receipts Journal, but was not posted to his account in the Debtors’ Ledger. (vi) Interest of R180 charged on the overdue account of L Nkosi was included in the General Journal total, but was not posted to his account. Copyright reserved Please turn over

Accounting/P2 5 Hlayiso/Mock 2026 NSC Mock 1.3 INTERNAL CONTROL AND ETHICS 1.3.1 Explain why it is important for Themba to prepare a debtors’ reconciliation every month. (2) 1.3.2 T Khumalo’s account has been overdue for more than 60 days. Give TWO measures that Themba can use to make sure that debtors pay on time. (4) 1.3.3 Read the information below and answer the questions. Nomsa, the debtors’ clerk, receives cash from debtors, records the receipts in the Cash Receipts Journal and posts them to the Debtors’ Ledger. During an audit it was found that she had issued a credit note of R2 000 to her friend, L Nkosi, for goods that were never returned. (a) Explain why Nomsa’s action is unethical. (2) (b) Give TWO internal control measures that Themba can introduce to prevent this from happening again. (4) [40] Copyright reserved Please turn over

Accounting/P2 6 Hlayiso/Mock 2026 NSC Mock QUESTION 2: FIXED ASSETS (30 marks; 24 minutes) MPUMI’S BAKERY Mpumi Shabalala owns Mpumi’s Bakery. The financial year ended on 28 February 2026. REQUIRED: 2.1 Name the GAAP principle that is applied when fixed assets are recorded at the price paid for them. Briefly explain this principle. (2) 2.2 Calculate the depreciation for the year ended 28 February 2026 on: 2.2.1 Vehicles (4) 2.2.2 Equipment (4) 2.3 Complete the Fixed (Tangible) Assets note to the Statement of Financial Position on 28 February 2026. Certain figures are provided in the ANSWER BOOK. (16) 2.4 Mpumi is concerned that her delivery vehicles are being used by the drivers for private trips after hours. Give TWO internal control measures that she can use to protect her vehicles. (4) INFORMATION: A. Balances on 1 March 2025: Cost Accumulated depreciation Land and buildings R1 200 000 – Vehicles R480 000 R192 000 Equipment R150 000 R54 000 B. Transactions during the year (all were correctly recorded, except where stated otherwise): (i) An invoice for R295 000 was received from BuildRight Contractors on 1 July 2025. It consisted of the following: • Building a new storeroom, R280 000 • Repairs to the roof of the existing building, R15 000 The full amount of R295 000 was debited to the Land and buildings account. (ii) A new delivery vehicle was bought on 1 September 2025 for R360 000. (iii) New baking equipment was bought on 1 December 2025 for R20 000. C. Depreciation rates: • Vehicles: 20% p.a. on cost • Equipment: 15% p.a. on the diminishing-balance method D. No fixed assets were sold during the year. [30] Copyright reserved Please turn over

Accounting/P2 7 Hlayiso/Mock 2026 NSC Mock QUESTION 3: COST ACCOUNTING (30 marks; 24 minutes) 3.1 CONCEPTS Choose an example from COLUMN B that matches the cost category in COLUMN A. Write only the letter (A–F) next to the question numbers (3.1.1 to 3.1.5) in the ANSWER BOOK. COLUMN A COLUMN B 3.1.1 Direct material cost A Salary of the office receptionist 3.1.2 Direct labour cost B Wages of workers who pour wax into the moulds 3.1.3 Factory overhead cost C Fuel for the van that delivers candles to shops 3.1.4 Selling and distribution cost D Wax and wicks used to make candles 3.1.5 Administration cost E Salary of the factory foreman F Drawings by the owner (5) 3.2 KHANYA CANDLES Khanya Zulu manufactures scented candles. The information relates to September 2026, during which 4 000 candles were produced. REQUIRED: Calculate the following for September 2026: 3.2.1 Direct material cost (5) 3.2.2 Direct labour cost (6) 3.2.3 Factory overhead cost (6) 3.2.4 Total cost of production (2) 3.2.5 Cost of production per candle (2) 3.2.6 Selling price per candle (2) 3.3 Refer to Information A to C. Identify ONE fixed cost and ONE variable cost. (2) INFORMATION: A. Raw materials: Raw materials on hand on 1 September 2026 R6 200 Wax purchased R38 400 Wicks, fragrances and dyes purchased R5 600 Carriage on raw materials purchased R1 800 Damaged wax returned to the supplier R1 200 Raw materials on hand on 30 September 2026 R7 600 Copyright reserved Please turn over

Accounting/P2 8 Hlayiso/Mock 2026 NSC Mock B. Factory workers: • Three factory workers each worked 176 normal hours at R35 per hour. • They worked a total of 24 overtime hours. Overtime is paid at one-and-a-half times the normal rate. • The business contributes 5% of the normal wages to the UIF and pension fund. C. Other costs for September 2026: Rent (the factory occupies 75% of the building) R12 000 Water and electricity (80% is used by the factory) R4 800 Insurance on the factory machines R650 Cleaning materials used in the factory R420 Salary of the factory foreman R9 500 Depreciation on factory machinery R1 526 D. Khanya sells the candles at a mark-up of 50% on the cost of production. [30] Copyright reserved Please turn over

Accounting/P2 9 Hlayiso/Mock 2026 NSC Mock QUESTION 4: BUDGETING (25 marks; 20 minutes) 4.1 Indicate whether EACH of the following items will appear in a Cash Budget. Write only ‘yes’ or ‘no’ next to the question numbers (4.1.1 to 4.1.3) in the ANSWER BOOK. 4.1.1 Depreciation on equipment 4.1.2 Drawings by the owner in cash 4.1.3 Bad debts written off (3) 4.2 SIYA’S CAR WASH Siyabonga Mthembu owns Siya’s Car Wash. He has prepared a Cash Budget for April and May 2026. REQUIRED: 4.2.1 Calculate the missing amounts indicated by (i) to (v) in the Cash Budget. (12) 4.2.2 Refer to Information H. Calculate the percentage by which the actual water and electricity exceeded the budgeted amount for April 2026. (3) 4.2.3 Refer to Information H. Comment on the actual income from car-wash services in April 2026. Quote figures and give ONE suggestion to improve it. (3) 4.3 Explain why it is important for Siyabonga to prepare a Cash Budget. State TWO points. (4) INFORMATION: A. Siyabonga expects to wash 1 200 cars in April 2026 and 1 350 cars in May 2026. He charges R90 per wash in April. The price will increase by 10% from 1 May 2026. All car-wash services are for cash. B. A taxi company pays R12 000 per month for washing its fleet. C. Four workers each earn R5 500 per month. An additional worker will be employed from 1 May 2026 at the same wage. D. Cleaning materials cost 10% of the income from car-wash services. They are paid for in the same month. E. The business has a loan of R120 000 at 12% interest p.a. Interest is paid at the end of each month. R20 000 of the loan will be repaid on 30 April 2026. F. The bank balance on 1 April 2026 is expected to be R14 600 (favourable). Copyright reserved Please turn over

Accounting/P2 10 Hlayiso/Mock 2026 NSC Mock G. Extract from the Cash Budget: APRIL 2026 MAY 2026 RECEIPTS Car-wash services (cash) 108 000 (i) Fleet contract 12 000 12 000 PAYMENTS Wages 22 000 (ii) Cleaning materials (iii) 13 365 Rent 8 000 8 000 Water and electricity 6 400 6 900 Interest on loan 1 200 (iv) Repayment of loan 20 000 – New pressure washer – 18 500 Drawings 10 000 10 000 Bank balance at the end of the month (v) ? H. Actual figures for April 2026: BUDGETED ACTUAL Car-wash services R108 000 R96 300 Water and electricity R6 400 R9 850 [25] Copyright reserved Please turn over

Accounting/P2 11 Hlayiso/Mock 2026 NSC Mock QUESTION 5: INVENTORY SYSTEMS AND ETHICS (25 marks; 20 minutes) 5.1 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 In the (periodic/perpetual) inventory system, the cost of sales is recorded every time goods are sold. 5.1.2 In the (periodic/perpetual) inventory system, purchases of trading stock are debited to the Purchases account. 5.1.3 Carriage on purchases is (added to/subtracted from) the cost of the goods bought. (3) 5.2 BHEKI’S SNEAKERS Bheki Ndlovu owns a shop that sells sneakers. He uses the periodic inventory system. The financial year ended on 30 June 2026. Bheki marks up his goods by 70% on cost. REQUIRED: 5.2.1 Calculate the cost of sales for the year. (6) 5.2.2 Calculate the gross profit for the year. (3) 5.2.3 Calculate the % mark-up achieved. (3) 5.2.4 Give TWO possible reasons why Bheki did not achieve his planned mark-up of 70%. (4) INFORMATION: Trading stock on 1 July 2025 R84 000 Purchases R612 000 Carriage on purchases R14 500 Goods returned to suppliers R8 200 Goods taken by Bheki for his own use (cost price) R3 600 Goods donated to a local soccer club (cost price) R2 400 Trading stock on 30 June 2026 (physical stock count) R96 300 Sales R1 008 000 Debtors’ allowances (goods returned by debtors) R18 000 5.3 ETHICS Read the information below and answer the question. Bheki has found a supplier that sells imitation (fake) sneakers with well-known brand logos at a very low price. He plans to sell these sneakers in his shop as genuine branded sneakers at the normal price, because this will increase his profit. Give Bheki advice on his plan. State THREE points. (6) [25] TOTAL: 150 Copyright reserved Please turn over

Accounting/P2 12 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