# Accounting Grade 11 P1 November Mock Exam 2 2026 QP (Eng) > Grade 11 Accounting Paper 1 question paper from the November Mock Exam 2 2026 (English), 11 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-2-question-paper-paper-1/5a0d6357-ad2d-48bc-a2af-a79b53597ca2 - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 11 - Language: English - Document type: Question paper - Year: 2026 - Exam period: November Mock Exam 2 - Paper: 1 - Publisher: Hlayiso - Curriculum: CAPS - Pages: 11 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 11](https://www.hlayiso.com/library/grade-11) › [Accounting](https://www.hlayiso.com/library/grade-11/accounting) › [Accounting Grade 11 P1 November Mock Exam 2 2026 QP (Eng)](https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-2-question-paper-paper-1/5a0d6357-ad2d-48bc-a2af-a79b53597ca2) ## About this document Accounting · Grade 11 · November Mock Exam 2 · 2026 · English. Question paper, 11 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 11 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 11 ACCOUNTING P1 NOVEMBER EXAMINATION 2026 (MOCK) MARKS: 150 TIME: 2 hours This question paper consists of 10 pages, a formula sheet and a special answer book. Copyright reserved Please turn over ### Page 2 Accounting/P1 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 Financial Indicator 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 Concepts, Fixed Assets and Statement of 55 45 Comprehensive Income 2 Partnerships: Notes and Statement of Financial 50 40 Position 3 Analysis and Interpretation of Financial Statements 35 25 4 Ethics and Internal Control 10 10 TOTAL 150 120 Copyright reserved Please turn over ### Page 3 Accounting/P1 3 Hlayiso/Mock 2026 NSC Mock QUESTION 1: CONCEPTS, FIXED ASSETS AND STATEMENT OF COMPREHENSIVE INCOME (55 marks; 45 minutes) 1.1 CONCEPTS Choose a GAAP principle from COLUMN B that is applied in EACH example in COLUMN A. Write only the letter (A–F) next to the question numbers (1.1.1 to 1.1.4) in the ANSWER BOOK. COLUMN A COLUMN B 1.1.1 The cost of a partner’s private family holiday, A Going concern paid with the business credit card, is debited to his Drawings account. 1.1.2 Vehicles are recorded at R480 000, the B Business entity amount paid on the date of purchase, even though their market value has since increased to R520 000. 1.1.3 Bank charges of R36 000 are shown as C Prudence a separate item, while small amounts for postage are included in sundry expenses. 1.1.4 Damaged stock that can only be sold below D Historical cost cost price is valued at the lower amount that the business expects to receive. E Materiality F Matching (4 × 1) (4) 1.2 ITHEMBA PAINT SUPPLIES Ithemba Paint Supplies is a partnership owned by N Khumalo and P van Wyk. The financial year ended on 30 June 2026. REQUIRED: 1.2.1 Refer to Information B(a). Calculate the profit or loss on the sale of the vehicle on 31 December 2025. (5) 1.2.2 Calculate the total depreciation on vehicles for the year ended 30 June 2026. (6) 1.3 Prepare the Statement of Comprehensive Income (Income Statement) for the year ended 30 June 2026. NOTE: Some amounts have been entered in the ANSWER BOOK. (40) Copyright reserved Please turn over ### Page 4 Accounting/P1 4 Hlayiso/Mock 2026 NSC Mock INFORMATION: A. Balances and totals extracted from the books on 30 June 2026: R Vehicles 960 000 Equipment 240 000 Accumulated depreciation on vehicles (1 July 2025) 342 000 Accumulated depreciation on equipment (1 July 2025) 96 000 Fixed deposit: Mvelo Bank (8,5% p.a.) 120 000 Loan: Phakama Bank ? Trading stock 412 600 Debtors’ control 175 450 Provision for bad debts (1 July 2025) 7 900 Sales 3 864 500 Cost of sales 2 415 300 Debtors’ allowances 28 400 Rent income 90 500 Bad debts recovered 2 600 Discount received 5 840 Interest on fixed deposit 7 200 Salaries and wages 612 000 Employer’s contributions 55 080 Insurance 46 200 Advertising 38 400 Packing material 27 900 Bank charges 6 180 Bad debts 5 400 Water and electricity 41 700 Sundry expenses 28 650 Copyright reserved Please turn over ### Page 5 Accounting/P1 5 Hlayiso/Mock 2026 NSC Mock B. Adjustments and additional information: (a) Fixed assets: • Depreciation on vehicles is calculated at 20% p.a. on the diminishing-balance method. • On 31 December 2025, an old delivery vehicle was sold for R95 000 cash. The vehicle had cost R180 000, and its accumulated depreciation on 1 July 2025 was R64 800. The sale has not yet been recorded. • A new vehicle costing R280 000 was bought on 1 April 2026. This was recorded and is included in the balance of the Vehicles account. • Depreciation on equipment is calculated at 10% p.a. on cost. No equipment was bought or sold during the year. (b) Goods were sold on credit to L Mahlangu for R7 200 on 29 June 2026. This transaction was not recorded. The business uses a mark-up of 60% on cost. (c) On 12 May 2026, trading stock with a cost price of R16 000 was stolen during a break-in at the warehouse. The insurance company has agreed to pay 75% of the loss in July 2026. No entries have been made. (d) A physical stock count on 30 June 2026 showed trading stock on hand of R390 450. (e) R1 850 received from J Pillay, a debtor whose account had been written off in the previous year, was incorrectly credited to the Debtors’ control account. (f) A debtor, S Ntuli, who owed R4 500, was declared insolvent. Her estate paid 40 cents in the rand by EFT on 30 June 2026. This has not been recorded. The balance of her account must be written off. Thereafter, the provision for bad debts must be adjusted to 5% of the debtors’ balance. (g) Part of the building is rented out. The monthly rent was R8 000 until 31 December 2025, after which it was increased by R500 per month. The tenant did not pay the rent for June 2026. (h) The insurance amount includes an annual premium of R18 000 that was paid on 1 October 2025 for the period 1 October 2025 to 30 September 2026. (i) On 1 May 2026, the business paid R9 600 for a six-month radio advertising contract (May to October 2026). (j) Packing material on hand on 30 June 2026 amounted to R3 650. (k) The June 2026 bank statement showed the following items that have not yet been recorded: service fees, R1 140, and interest on the favourable bank balance, R290. (l) An employee was omitted from the Salaries Journal for June 2026. Her net salary is R14 280, and her deductions amount to 16% of her gross salary. The business contributes R1 530 to the UIF and pension fund on her behalf. (m) The water and electricity account of R3 860 for June 2026 has been received but has not yet been recorded or paid. (n) R30 000 of the fixed deposit was invested on 1 March 2026. This was recorded. The rest of the fixed deposit was invested for the whole financial year. Provide for the outstanding interest. Interest is not capitalised. (o) The loan statement received from Phakama Bank showed the following: Balance on 1 July 2025 R620 000 Monthly instalments (including interest) R11 500 Balance on 30 June 2026 R566 900 The instalments have been recorded, but the interest on the loan has not yet been recorded. [55] Copyright reserved Please turn over ### Page 6 Accounting/P1 6 Hlayiso/Mock 2026 NSC Mock QUESTION 2: PARTNERSHIPS: NOTES AND STATEMENT OF FINANCIAL POSITION (50 marks; 40 minutes) LETHABO OFFICE FURNITURE The information relates to Lethabo Office Furniture, a partnership owned by T Moloi and A Govender. The financial year ended on 31 March 2026. REQUIRED: 2.1 Prepare the Trade and other receivables note on 31 March 2026. (6) 2.2 Prepare the Partners’ current accounts note on 31 March 2026. (18) 2.3 Complete the Statement of Financial Position (Balance Sheet) on 31 March 2026. NOTE: Show ALL workings in brackets. Certain figures are provided in the ANSWER BOOK. (26) INFORMATION: A. Balances and totals extracted from the books on 31 March 2026: R Capital: Moloi 750 000 Capital: Govender 560 000 Current account: Moloi (1 April 2025) 14 300 (Cr) Current account: Govender (1 April 2025) 9 600 (Dr) Drawings: Moloi 298 000 Drawings: Govender 286 500 Fixed assets at carrying value ? Fixed deposit: Nqaba Bank 180 000 Trading stock ? Debtors’ control 148 600 Prepaid expenses 2 900 Accrued income (rent) 1 650 Bank (favourable) 96 200 Cash float 3 500 Creditors’ control 172 400 Accrued expenses 8 300 Income received in advance 6 000 SARS: PAYE 9 450 Pension fund 4 200 B. Capital: Moloi increased his capital by R100 000 on 1 October 2025. This was recorded. Govender withdrew R60 000 of her capital by EFT on 1 January 2026. This has NOT been recorded. Copyright reserved Please turn over ### Page 7 Accounting/P1 7 Hlayiso/Mock 2026 NSC Mock C. Partnership agreement: • Partners earn interest on capital at 12% p.a. • Monthly salaries: Moloi, R22 000; Govender, R20 000. Govender’s salary was increased by 10% from 1 December 2025. • Moloi receives a bonus equal to 75% of his monthly salary. • The remaining profit or loss is shared in the ratio of the partners’ capital balances at the END of the financial year. • The net profit for the year, correctly calculated, was R760 000. D. Govender took office furniture (trading stock) with a cost price of R7 800 for her own use. This has not been recorded. E. A cheque of R3 400 received from a debtor was dishonoured by the bank (R/D). This has not been recorded. The provision for bad debts must then be 4% of the debtors’ balance. F. The fixed deposit consists of two investments: R45 000 that matures on 31 July 2026, and the balance, which matures on 30 June 2028. G. The loan statement from Thuthuka Bank showed the following: Balance on 1 April 2025 R480 000 Monthly repayments (including interest) R9 000 Interest capitalised for the year R52 800 Balance on 31 March 2026 ? Capital instalments (excluding interest) of R5 000 per month will be paid in the next financial year. H. The current ratio on 31 March 2026 was 1,8 : 1. Trading stock (inventories) must be calculated from this ratio. I. Fixed assets at carrying value is the balancing figure on the Statement of Financial Position. [50] Copyright reserved Please turn over ### Page 8 Accounting/P1 8 Hlayiso/Mock 2026 NSC Mock QUESTION 3: ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENTS (35 marks; 25 minutes) KASI FRESH GROCERS The information relates to Kasi Fresh Grocers, a partnership owned by L Nkosi (Lindiwe) and M Adams (Mark). The financial year ended on 28 February 2026. REQUIRED: 3.1 Calculate the following financial indicators for the year ended 28 February 2026: 3.1.1 % operating expenses on sales (3) 3.1.2 Acid-test ratio (4) 3.1.3 Debt-equity ratio (3) 3.1.4 % return on average owners’ equity (5) 3.2 In ALL the questions below, quote financial indicators, figures and trends. 3.2.1 Operating efficiency: Sales increased, but the net profit decreased. Explain whether the business controlled its operating expenses well. Quote TWO relevant financial indicators or figures. Give TWO suggestions to control the operating expenses. (6) 3.2.2 Liquidity: Lindiwe is worried about the liquidity of the business. Quote THREE financial indicators and explain whether she is justified. (6) 3.2.3 Risk and gearing: The partners repaid R304 000 of the loan in April 2025, early in the financial year. Explain whether this was a good decision. Quote TWO financial indicators. (4) 3.2.4 Returns: Mark is unhappy with the return that he earned this year. Comment on his return. Quote figures. (4) Copyright reserved Please turn over ### Page 9 Accounting/P1 9 Hlayiso/Mock 2026 NSC Mock INFORMATION: A. Extract from the Statement of Comprehensive Income for the year ended 28 February: 2026 2025 R R Sales 3 150 000 2 700 000 Cost of sales 2 100 000 1 800 000 Gross profit 1 050 000 900 000 Operating expenses 798 000 594 000 Other operating income 48 000 40 000 Interest expense 36 000 67 200 Net profit for the year 264 000 278 800 B. Extract from the Statement of Financial Position on 28 February: 2026 2025 R R Inventories 320 000 210 000 Trade and other receivables 168 000 120 000 Cash and cash equivalents 42 000 96 000 Partners’ equity (capital + current accounts) 1 280 000 1 120 000 Loan: Nala Bank 256 000 560 000 Current liabilities 300 000 210 000 C. Financial indicators: 2026 2025 % mark-up achieved 50,0% 50,0% % operating expenses on sales ? 22,0% % net profit on sales 8,4% 10,3% Current ratio 1,8 : 1 2,0 : 1 Acid-test ratio ? 1,0 : 1 Stock holding period 46 days 40 days Average debtors’ collection period 38 days 27 days Average creditors’ payment period 45 days 60 days Debt-equity ratio ? 0,5 : 1 % return on average owners’ equity ? 25,8% % return earned by Lindiwe 24,6% 27,0% % return earned by Mark 19,2% 24,5% Interest rate on loans 12,0% 12,0% Interest rate on fixed deposits 8,0% 7,5% Credit terms: debtors 30 days; creditors 60 days. [35] Copyright reserved Please turn over ### Page 10 Accounting/P1 10 Hlayiso/Mock 2026 NSC Mock QUESTION 4: ETHICS AND INTERNAL CONTROL (10 marks; 10 minutes) MASAKHANE BUILDERS’ SUPPLIES Zodwa and Ravi are partners in Masakhane Builders’ Supplies. The business owns two identical delivery vehicles that make deliveries in the same area. Read the information below and answer the questions. Information for March 2026: Vehicle 1 Vehicle 2 Number of deliveries made 168 120 Kilometres travelled 4 200 km 6 900 km Fuel cost R9 660 R19 320 Fuel cost per kilometre R2,30 ? • The driver of Vehicle 2 takes the vehicle home every evening and over weekends. • Ravi buys all the cement for the business from Mzansi Cement Distributors, a company in which he owns 30% of the shares. No other quotations were obtained. Mzansi charges R92 per bag, while another supplier had quoted R84 per bag for the same cement. Ravi did not tell Zodwa about his shares in Mzansi. REQUIRED: 4.1 Calculate the fuel cost per kilometre of Vehicle 2. (2) 4.2 Identify ONE problem with Vehicle 2. Quote figures to support your answer. (2) 4.3 Give TWO internal control measures that the partners can introduce to prevent the misuse of the delivery vehicles. (2) 4.4 Explain why Ravi’s actions regarding the purchase of cement are unethical. (2) 4.5 State TWO steps that Zodwa can take to prevent Ravi from choosing suppliers or awarding contracts without her approval. (2) [10] TOTAL: 150 Copyright reserved Please turn over ### Page 11 Accounting/P1 11 Hlayiso/Mock 2026 NSC Mock GRADE 11 ACCOUNTING: FINANCIAL INDICATOR FORMULA SHEET Gross profit 100 Gross profit 100 × × Sales 1 Cost of sales 1 Net profit 100 Operating expenses 100 × × Sales 1 Sales 1 Operating profit 100 Net profit 100 × × Sales 1 Average owners’ equity 1 Total earnings by partner 100 × Partner’s average equity 1 Current assets : Current liabilities (Current assets – Inventories) : Current liabilities (Trade and other receivables + Cash and cash equivalents) : Current liabilities Average debtors 365 Average creditors 365 × × Credit sales 1 Credit purchases 1 Average inventories 365 12 Cost of sales × or × Cost of sales 1 1 Average inventories Non-current liabilities : Owners’ equity Total assets : Total liabilities Copyright reserved ## Related documents - [ACCOUNTING P1 GR11 QP NOV 2023 English](https://www.hlayiso.com/library/accounting-p1-gr11-qp-nov-2023-english/4a9ed09a-c470-41c0-8d03-0f4bd2f3f6c6) — Accounting · QP · 2023 · Eng - [Gr 11 Accounting P1 (English) November 2022 Question Paper](https://www.hlayiso.com/library/gr-11-accounting-p1-english-november-2022-question-paper/ef4637d3-96a9-43e3-b8e8-b76b492e87f0) — Accounting · QP · 2022 · Eng - [ACCOUNTING P1 GR11 QP NOVEMBER 2020 English .docx](https://www.hlayiso.com/library/accounting-p1-gr11-qp-november-2020-english-docx/36f73aae-b2be-494f-b290-718a2c8f5958) — Accounting · QP · 2020 · Eng - [Gr11 Acc P1 (English) November 2019 Question Paper](https://www.hlayiso.com/library/gr11-acc-p1-english-november-2019-question-paper/bdf935ed-5668-4b8b-be13-5e4ebedf77ee) — Accounting · QP · 2019 · Eng - [ACCOUNTING P1 GR11 MEMO NOVEMBER 2023 English watermark](https://www.hlayiso.com/library/accounting-p1-gr11-memo-november-2023-english-watermark-1/49899c38-504c-42fb-972e-2181fa910731) — Accounting · Memo · 2023 · Eng - [Grade 11 ACC P1 (English) June 2023 Answerbook](https://www.hlayiso.com/library/grade-11-acc-p1-english-june-2023-answerbook-1/888a682a-0a7a-4301-8989-c137240cf50d) — Accounting · Addendum · 2023 · Eng ## More from Grade 11 Accounting - [GR11 Accounting Practice exam November Paper 1](https://www.hlayiso.com/library/gr11-accounting-practice-exam-november-paper-1/a786fffb-f00d-472f-a62b-80f038063c5b) — Guide - [ACCOUNTING P2 MEMO GR11 NOV 2025 ENG watermark](https://www.hlayiso.com/library/accounting-p2-memo-gr11-nov-2025-eng-watermark/7aa479bf-34d0-4240-934b-67a2f33e2597) — Memo · 2025 · Eng - [ACCOUNTING P2 MEMO GR11 NOV 2025 AFR watermark](https://www.hlayiso.com/library/accounting-p2-memo-gr11-nov-2025-afr-watermark/a92dc10a-0d2e-42d6-9cd3-ff78b0e78afe) — Memo · 2025 · Afr - [LP Accounting Grade 11 March 2025 QP and Memo](https://www.hlayiso.com/library/lp-accounting-grade-11-march-2025-qp-and-memo/e029a6c5-e494-4ee4-85f6-bf55d1d8442b) — QP + Memo · 2025 - [ACCOUNTING P2 MEMO GR11 NOV 2024 ENG watermark](https://www.hlayiso.com/library/accounting-p2-memo-gr11-nov-2024-eng-watermark/c09eb350-5d2d-4070-8df4-25ece70dc7de) — Memo · 2024 · Eng - [ACCOUNTING P2 GR11 QP NOV2023 English](https://www.hlayiso.com/library/accounting-p2-gr11-qp-nov2023-english/f476ab04-a9d8-48f8-8d61-d147a95b251f) — QP · 2023 · Eng ## Collection - [Grade 11 past papers](https://www.hlayiso.com/grade-11/past-papers) --- Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. 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