Accounting Grade 11 P2 November Mock Exam 2 2026 Memo (Eng)

Mock hlayiso mock exams Practice Series: Grade 11 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 11 ACCOUNTING P2 NOVEMBER EXAMINATION 2026 (MOCK) MARKING GUIDELINES MARKS: 150 These marking guidelines consist of 11 pages. Copyright reserved Please turn over

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. ✓ = 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

Accounting/P2 3 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 1 1.1.1 Cash Payments Journal ✓ 1.1.2 unfavourable ✓ 1.1 1.1.3 stale ✓ 4 1.1.4 credit ✓ 1.2.1 CRJ CPJ Provisional total 138 600 Provisional total 151 270 Error: EFT no. 415 (8 920 – 8 630 ✓ Deposit shortfall written off 5 000 ✓ 290) (26 500 – 21 500) Rent income: L Dube 9 600 ✓ Insurance (debit order, once 2 740 ✓ only) Debtor: T Ngubane 4 750 ✓ Bank charges (310 + 465 + 870 ✓ 95) Interest on overdraft 520 ✓ Drawings (fuel, private car) 1 380 ✓ Final total 153 580 ⊡ Final total 161 780 ⊡ 10 Accept R630 as a negative amount in the CPJ and R5 000 as a negative amount in the CRJ (then CRJ 147 950; CPJ 156 150 – same net effect). The debtor’s discount of R250 is not part of the bank column; do not penalise if mentioned. Do NOT accept the duplicated debit order (second R2 740) or the deposit of R12 000 by M Sithole in the journals. 1.2.2 WORKINGS ANSWER −4 350 ✓ + 153 580 ✓ – 161 780 ✓ (12 550) unfavourable ⊡ 4 Must indicate unfavourable/overdraft/credit balance for the final mark. Accept a ledger-account presentation. CA on 1.2.1 totals. Copyright reserved Please turn over

Accounting/P2 4 Hlayiso/Mock 2026 NSC – Marking Guidelines 1.2.3 BANK RECONCILIATION STATEMENT ON 30 SEPTEMBER 2026 DEBIT CREDIT Debit balance as per bank statement (balancing 16 980 ✓⊡ figure) Credit outstanding deposit 24 800 ✓ Debit outstanding EFTs: no. 438 7 150 ✓ no. 441 3 960 ✓ Debit order duplicated by the bank (Vuka Insurance) 2 740 ✓ Deposit incorrectly credited by the bank (M Sithole) 12 000 ✓ Credit balance as per Bank account see 1.2.2 12 550 ✓ 40 090 40 090 8 Balancing figure: one part correct; it must be shown as an unfavourable (debit/overdraft) balance on the bank statement. Accept the alternative layout (bank statement balance adjusted to the Bank account balance): −16 980 + 24 800 + 2 740 – 7 150 – 3 960 – 12 000 = −12 550. Do NOT accept EFT no. 415 or the R5 000 shortfall as outstanding items. CA on 1.2.2. 1.2.4 Any ONE ✓✓: a second person (not the cashier) must check the deposit slip against the CRJ and the cash register rolls/receipts; deposit cash daily (or use a cash-in-transit service/drop safe); compare the bank 2 statement with the CRJ regularly; rotate duties and do surprise cash counts. Copyright reserved Please turn over

Accounting/P2 5 Hlayiso/Mock 2026 NSC – Marking Guidelines 1.3.1 No. CREDITORS’ LEDGER CREDITOR’S STATEMENT Balance 48 720 72 840 (a) + 15 720 ✓✓ (b) − 12 600 ✓✓ (c) − 450 ✓✓ (d) + 650 ✓ (e) + 5 300 ✓✓ 65 090 ⊡ 65 090 10 (a) 7 860 × 2: award one mark for + 7 860 only. Award marks for the amount in the correct column with the correct sign. (d) one mark: amount and sign in the Creditors’ Ledger column. Totals: one part correct; both totals must agree for the mark. 1.3.2 Any ONE ✓✓: to detect errors/omissions made by the business or by the supplier; to make sure the business pays only what it really owes (avoids over- or under-payment); to detect fraud or unauthorised purchases; to identify items in transit (payments/invoices after the 2 statement date); to maintain a good relationship and credit record with the supplier. TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 6 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 2 2.1.1 C (factory overhead cost) ✓ 2.1.2 D (administration cost) ✓ 2.1 2.1.3 E (selling and distribution cost) ✓ 4 2.1.4 B (direct labour cost) ✓ 2.2.1 Raw materials issued for production (direct material cost) WORKINGS ANSWER 38 400 ✓ + 486 000 + 14 600 ✓ – 7 300 ✓ – 44 900 ✓ 486 800 ⊡ 5 2.2.2 Direct labour cost WORKINGS ANSWER Normal wages: 6 × 40 × 48 × R45 = 518 400 ✓ 590 814 ⊡ Overtime: 420 × R67,50 (45 × 1,5) = 28 350 ✓✓ 5 Contributions: 8,5% × 518 400 = 44 064 ✓ (UIF 5 184 + pension 38 880) 2.2.3 Factory overhead cost note WORKINGS ANSWER Indirect materials: 3 200 + 9 650 – 2 450 10 400 ✓ Salary of factory foreman 186 000 ✓ Rent: 168 000 × 420/700 (60%) 100 800 ✓ Water and electricity: 96 000 × 80% 76 800 ✓ 8 Depreciation on factory equipment: 240 000 × 15% 36 000 ✓ Insurance: 27 000 × 2/3 18 000 ✓ Cleaner: 4 500 × 12 × 75% 40 500 ✓ Total factory overhead cost 468 500 ⊡ Award the mark for the correct amount even if the workings are not shown. Total: one part correct (CA). Copyright reserved Please turn over

Accounting/P2 7 Hlayiso/Mock 2026 NSC – Marking Guidelines 2.2.4 GENERAL LEDGER OF AMANDLA SOLAR LAMPS WORK-IN-PROGRESS STOCK 2025 2026 Sep 1 Balance b/d 21 600 ✓ Aug 31 Finished goods 1 548 964 ⊡ stock 2026 Balance c/d 18 750 Aug 31 Raw materials stock 486 800 ✓ Direct labour cost 590 814 ✓ Factory overhead 468 500 ✓ cost 1 567 714 1 567 714 5 Finished goods stock (cost of production) is the balancing figure: one part correct. Award marks for details and amounts; ignore dates. CA on 2.2.1–2.2.3. Accept “Direct material cost” for raw materials stock. 2.2.5 Cost of sales WORKINGS ANSWER 64 800 + 1 548 964 ✓ – 52 300 ✓ 1 561 464 ⊡ CA on cost of production in 2.2.4. Accept a Finished goods stock 3 account. 2.3.1 Break-even point (2026) WORKINGS ANSWER Variable cost per brick: 2,10 + 1,30 + 0,35 + 0,25 = R4,00 100 800 bricks ✓ ⊡ 4 252 000 ✓ / (6,50 ✓ – 4,00) = 252 000 / 2,50 2.3.2 Yes, partly ✓: the business produced 150 000 bricks, which is 49 200 bricks above the break-even point of 100 800, so it made a profit ✓. However, the break-even point increased (80 000 to 100 800) while production decreased (180 000 to 150 000); the margin above break-even 3 fell from 100 000 to 49 200 bricks ✓. (Accept a well-argued NO with the same figures.) 2.3.3 Direct labour cost per brick (variable) ✓ increased from R1,10 to R1,30 (by R0,20 or 18,2%) ✓. Any ONE way to control it ✓: link wages to output (piece rate/incentives); reduce overtime and idle time; train workers to improve productivity; better supervision; use machines for repetitive tasks. 3 Fixed cost per brick is not a variable unit cost (the question asks for the VARIABLE unit cost); do not award the first mark for it. The other variable costs per brick did not change. TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 8 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 3 3.1.1 False ✓ 3.1.2 True ✓ 3.1 3.1.3 False ✓ 4 3.1.4 True ✓ 3.2.1 Net purchases WORKINGS ANSWER 942 600 – 28 300 – 2 400 ✓ + 18 750 ✓ + 9 450 ✓ – 3 936 500 ⊡ 600 ✓ (Carriage on sales is NOT part of purchases.) 5 If carriage on sales is added, the answer cannot earn the final mark (one part correct not awarded for a foreign item). 3.2.2 Cost of sales WORKINGS ANSWER 186 400 ✓ + 936 500 ✓ – 204 300 918 600 ⊡ 3 CA on net purchases from 3.2.1. 3.2.3 Stock turnover rate WORKINGS ANSWER Average stock: (186 400 + 204 300) / 2 = 195 350 ✓✓ 4,7 times ⊡ 918 600 ✓ / 195 350 4 CA on cost of sales from 3.2.2. Accept 4,70. 3.3.1 (a) 368 000 × 15% = 55 200 ✓ (b) 368 000 + 55 200 = 423 200 ✓ 3 (c) 151 800 × 15/115 = 19 800 ✓ Copyright reserved Please turn over

Accounting/P2 9 Hlayiso/Mock 2026 NSC – Marking Guidelines 3.3.2 VAT payable to / receivable from SARS WORKINGS ANSWER Output VAT: cash sales 264 500 × 15/115 = 34 500 ✓ 2 100 Output VAT: credit sales = 55 200 ✓ receivable from Debtors’ returns: 12 000 × 15% = (1 800) ✓ SARS ⊡ Input VAT on purchases: 61 800 + 19 800 = (81 600) ✓ Returns to creditors: 9 200 × 15/115 = 1 200 ✓ Bad debts: 4 600 × 15/115 = (600) ✓ Equipment: 69 000 × 15/115 = (9 000) ✓ 8 Output 87 900 (34 500 + 55 200 – 1 800) – Input 90 000 (81 600 – 1 200 + 600 + 9 000) The final mark requires the word “receivable” (or “SARS owes the business”). CA on 3.3.1. Accept a VAT control account or an input/output table. Accept any grouping (e.g. bad debts and debtors’ returns netted against output) provided the net amount is 2 100 receivable. 3.3.3 Why it is wrong ✓✓ (any ONE explained): the business does not declare all its sales/output VAT, which is tax evasion and is illegal; the business can be fined/prosecuted by SARS; the assistant may be stealing the cash, and stock losses cannot be traced; it is dishonest and unfair towards other businesses and taxpayers. 3 Advice ✓ (any ONE): issue an invoice/cash slip for every sale and use the cash register; supervise sales staff and check daily cash against till slips; take disciplinary action against the assistant; install CCTV/do regular stock counts. TOTAL MARKS 30 Copyright reserved Please turn over

Accounting/P2 10 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 4 4.1 4.1.1 Depreciation on Projected Income Statement equipment only ✓ 4.1.2 Repayment of a loan Cash Budget only ✓ 4 4.1.3 Interest on a loan BOTH ✓ 4.1.4 Cash drawings Cash Budget only ✓ 4.2 DEBTORS’ COLLECTION SCHEDULE MONTH CREDIT SALES JANUARY 2027 FEBRUARY 2027 October 2026 280 000 33 600 ✓ November 2026 266 000 93 100 ✓ 31 920 ✓ December 2026 361 200 180 600 ✓ 126 420 ✓ January 2027 210 000 105 000 ✓ TOTAL 307 300 263 340 ⊡ 7 Credit sales = 70% of total sales. Totals: one part correct (award if both totals are correct according to the candidate’s figures). 4.3 WORKINGS ANSWER (i) 340 000 × 30% ✓ 102 000 ⊡ (ii) 340 000 × 100/160 = 212 500 ✓ × 25% 53 125 ⊡ (iii) January purchases: 300 000 × 100/160 = 187 500 ✓ × 140 625 ⊡ 75% (iv) 25 600 ✓ × 107% (OR 2 × 12 800 × 1,07) 27 392 ⊡ (v) (3 150 – 2 400) = 750 ✓ × 12 / 12% 75 000 ⊡ (OR 3 150 × 12 / 12% = 315 000 – 240 000) (vi) 340 000 × 3% ✓ 10 200 ⊡ (vii) 22 000 × 105% ✓ 23 100 ⊡ 14 Copyright reserved Please turn over

Accounting/P2 11 Hlayiso/Mock 2026 NSC – Marking Guidelines 4.4.1 Poor control ✓: casual wages were R6 500 (81,3%) more than budgeted (R14 500 vs R8 000) ✓. Reason ✓ (any ONE): more casual workers employed for the festive 3 season; workers were paid overtime/for long hours; poor planning of shifts; no proper time records. 4.4.2 Not a good decision ✓: only R600 (10%) was saved on delivery expenses ✓, but customers complained about late deliveries; this may cause the business to lose customers and sales (actual sales were R44 3 000 below budget) ✓. 4.4.3 Budgeted gross profit: 560 000 × 60/160 = R210 000 ✓ Actual gross profit: 516 000 × 50/150 = R172 000 ✓ The gross profit decreased by R38 000; the lower mark-up did NOT attract 3 more customers, as sales were still R44 000 (7,9%) below the budget, so the decision was not successful ✓. 4.5.1 WORKINGS ANSWER Deposit: 380 000 × 10% = 38 000 ✓ 461 900 Instalments: 54 × 7 850 = 423 900 ✓ 81 900 ⊡ Total cost: 38 000 + 423 900 = 461 900 3 Finance charges: 461 900 – 380 000 Both the total cost (461 900) and the finance charges must be shown for the final mark. 4.5.2 Cash payments (any TWO) ✓✓: monthly instalment R7 850; fuel; insurance on the vehicle; licence fees; repairs and maintenance; driver’s wages; tracking device fees. Projected Income Statement only ✓: depreciation on the vehicle. Also 3 accept finance charges/interest on the instalment agreement (the expense is shown in the Projected Income Statement; the cash paid is part of the instalment, which is not split out as a separate line in the Cash Budget). TOTAL MARKS 40 TOTAL: 150 Copyright reserved