# Accounting Grade 11 P2 November Mock Exam 2 2026 QP (Eng) > Grade 11 Accounting Paper 2 question paper from the November Mock Exam 2 2026 (English), 12 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-2/0ae1780c-5a75-49f9-bfbd-bca900e3cadd - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 11 - Language: English - Document type: Question paper - Year: 2026 - Exam period: November Mock Exam 2 - Paper: 2 - Publisher: Hlayiso - Curriculum: CAPS - Pages: 12 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 P2 November Mock Exam 2 2026 QP (Eng)](https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-2-question-paper-paper-2/0ae1780c-5a75-49f9-bfbd-bca900e3cadd) ## About this document Accounting · Grade 11 · November Mock Exam 2 · 2026 · English. Question paper, 12 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 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 ### Page 2 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 Bank and Creditors’ Reconciliations 40 30 2 Cost Accounting 40 30 3 Inventory Systems and VAT 30 25 4 Budgeting 40 35 TOTAL 150 120 Copyright reserved Please turn over ### Page 3 Accounting/P2 3 Hlayiso/Mock 2026 NSC Mock QUESTION 1: BANK AND CREDITORS’ RECONCILIATIONS (40 marks; 30 minutes) 1.1 Choose the correct word(s) from those given in brackets. Write only the word(s) next to the question numbers (1.1.1 to 1.1.4) in the ANSWER BOOK. 1.1.1 Interest charged by the bank on an overdraft is recorded in the (Cash Receipts Journal / Cash Payments Journal). 1.1.2 A debit balance on the bank statement indicates a/an (favourable / unfavourable) balance. 1.1.3 A cheque that has been outstanding for longer than six months is known as a (post-dated / stale) cheque. 1.1.4 The bank records deposits made by the business on the (debit / credit) side of the bank statement. (4) 1.2 BANK RECONCILIATION The information relates to Masilo Hardware for September 2026. The business is owned by Refilwe Masilo. REQUIRED: 1.2.1 Use the table in the ANSWER BOOK to show the amounts that must be added to the provisional totals of the Cash Receipts Journal (CRJ) and the Cash Payments Journal (CPJ). Calculate the final totals. (10) 1.2.2 Calculate the correct balance of the Bank account in the General Ledger on 30 September 2026. Indicate whether it is favourable or unfavourable. (4) 1.2.3 Prepare the Bank Reconciliation Statement on 30 September 2026. NOTE: The balance on the bank statement on 30 September 2026 is not provided; you must determine it. (8) 1.2.4 Refer to Information A (deposit of 31 August 2026). State ONE internal control measure that Refilwe can introduce to prevent this from happening again. (2) Copyright reserved Please turn over ### Page 4 Accounting/P2 4 Hlayiso/Mock 2026 NSC Mock INFORMATION: A. Extract from the Bank Reconciliation Statement on 31 August 2026: Outstanding deposits: 26 August 2026 R18 400 31 August 2026 R26 500 Outstanding EFTs: No. 411 R6 380 No. 415 R8 920 Unfavourable balance as per Bank account R4 350 • The deposit of 26 August 2026 and EFT no. 411 appeared correctly on the September 2026 bank statement. • The deposit of 31 August 2026 (cash sales) appeared on the September 2026 bank statement as R21 500. The cashier who prepared the deposit has been dismissed. The shortfall must be written off. • EFT no. 415 (stationery) appeared on the September 2026 bank statement as R8 290. The bank statement is correct. B. Provisional totals in the cash journals on 30 September 2026: CRJ, R138 600; CPJ, R151 270. C. The following entries appeared on the bank statement for September 2026, but not in the cash journals: Debit order: Vuka Insurance R2 740 Interest on overdraft R520 Debit order: Vuka Insurance R2 740 EFT received: L Dube R9 600 Cash handling fees R310 EFT received: T Ngubane R4 750 Service fees R465 Debit card: Engen garage R1 380 EFT transaction fees R95 Deposit: M Sithole R12 000 • The bank deducted the debit order to Vuka Insurance twice in error. The bank will correct this in October 2026. • L Dube is a tenant who paid the rent for September 2026. • T Ngubane, a debtor, paid R4 750 in full settlement of his account of R5 000. • The debit card payment was for fuel for Refilwe’s private car. • The deposit by M Sithole does not belong to Masilo Hardware. The bank has been informed of the error. D. The following entries in the September 2026 cash journals did not appear on the bank statement: • A deposit of R24 800 made on 30 September 2026 • EFT no. 438 for R7 150 and EFT no. 441 for R3 960 Copyright reserved Please turn over ### Page 5 Accounting/P2 5 Hlayiso/Mock 2026 NSC Mock 1.3 CREDITORS’ RECONCILIATION Masilo Hardware buys timber on credit from Ubuntu Timber Suppliers. On 30 September 2026, the account of Ubuntu Timber Suppliers in the Creditors’ Ledger showed a credit balance of R48 720. The statement received from Ubuntu Timber Suppliers, dated 25 September 2026, showed a balance of R72 840. REQUIRED: 1.3.1 Use the table in the ANSWER BOOK to show the corrections to the Creditors’ Ledger account and to the creditor’s statement. Indicate + or − for EACH amount. Show the correct balances. (10) 1.3.2 Explain why it is important for Masilo Hardware to compare the statement of account with the Creditors’ Ledger account every month. State ONE point. (2) INFORMATION: (a) Invoice no. 2215 for R7 860 was posted to the debit side of the account of Ubuntu Timber Suppliers in the Creditors’ Ledger. (b) An EFT of R12 600 to Ubuntu Timber Suppliers on 28 September 2026 does not appear on the statement. (c) Credit note no. 314 for R1 940 (timber returned) was correctly recorded by Masilo Hardware, but appears on the statement as R1 490. (d) Ubuntu Timber Suppliers charged a delivery fee of R650, as agreed, on the statement. Masilo Hardware has not yet recorded it. (e) Invoice no. 2240 for R5 300, dated 27 September 2026, was correctly recorded in the Creditors’ Ledger. [40] Copyright reserved Please turn over ### Page 6 Accounting/P2 6 Hlayiso/Mock 2026 NSC Mock QUESTION 2: COST ACCOUNTING (40 marks; 30 minutes) 2.1 Choose a cost category from COLUMN B that matches a cost in COLUMN A. Write only the letter (A–E) next to the question numbers (2.1.1 to 2.1.4) in the ANSWER BOOK. COLUMN A COLUMN B 2.1.1 Depreciation on factory machinery A direct material cost 2.1.2 Salary of the bookkeeper B direct labour cost 2.1.3 Fuel for the van that delivers lamps C factory overhead to customers cost (4) 2.1.4 Wages of the workers who D administration cost assemble the lamps E selling and distribution cost 2.2 AMANDLA SOLAR LAMPS Themba Zwane owns Amandla Solar Lamps, a factory that manufactures solar lamps. The financial year ended on 31 August 2026. REQUIRED: 2.2.1 Calculate the cost of raw materials issued for production. (5) 2.2.2 Calculate the direct labour cost. (5) 2.2.3 Prepare the Factory Overhead Cost note (list the items and amounts that make up the total factory overhead cost). (8) 2.2.4 Prepare the Work-in-progress stock account in the General Ledger. Balance/close off the account. (5) 2.2.5 Calculate the cost of sales for the year. (3) INFORMATION: A. Stock balances: 31 August 2026 1 September 2025 R R Raw materials stock 44 900 38 400 Work-in-progress stock 18 750 21 600 Finished goods stock 52 300 64 800 Factory consumable stores (indirect 2 450 3 200 materials) B. Raw materials: • Raw materials purchased, R486 000 • Carriage on raw materials purchased, R14 600 • Faulty raw materials returned to suppliers, R7 300 Copyright reserved Please turn over ### Page 7 Accounting/P2 7 Hlayiso/Mock 2026 NSC Mock C. Factory workers: • Six factory workers each worked a normal 40-hour week for 48 weeks at R45 per hour. • The workers worked a total of 420 overtime hours, paid at one-and-a-half times the normal rate. • The business contributes 1% to the UIF and 7,5% to the pension fund, based on the normal wages (excluding overtime). D. Other factory information: (i) Factory consumable stores purchased during the year, R9 650. (ii) The salary of the factory foreman, R186 000. (iii) Rent of R168 000 for the year must be divided according to floor area: factory 420 m2 , office 140 m2 and showroom 140 m2 . (iv) Water and electricity amounted to R96 000. The factory uses 80%. (v) Depreciation on factory equipment is 15% p.a. on cost. The factory equipment cost R240 000. There were no purchases or sales of equipment. (vi) Insurance of R27 000 must be shared between the factory and the office in the ratio 2 : 1. (vii) A cleaner earns R4 500 per month. She spends 75% of her time cleaning the factory and the rest cleaning the office. 2.3 KGOTSO BRICKS Kgotso Moloi manufactures cement bricks. The information relates to the financial years ended 28 February 2025 and 28 February 2026. 2026 2025 Number of bricks produced and sold 150 000 180 000 Selling price per brick R6,50 R6,50 Total fixed costs R252 000 R216 000 Direct material cost per brick R2,10 R2,10 Direct labour cost per brick R1,30 R1,10 Variable factory overhead cost per R0,35 R0,35 brick Variable selling and distribution cost R0,25 R0,25 per brick Break-even point (bricks) ? 80 000 REQUIRED: 2.3.1 Calculate the break-even point for the year ended 28 February 2026. (4) 2.3.2 Should Kgotso be satisfied with the level of production in 2026? Explain, quoting figures. (3) 2.3.3 Identify the VARIABLE unit cost that should concern Kgotso. Quote figures and give ONE way in which he can control this cost. (3) [40] Copyright reserved Please turn over ### Page 8 Accounting/P2 8 Hlayiso/Mock 2026 NSC Mock QUESTION 3: INVENTORY SYSTEMS AND VAT (30 marks; 25 minutes) 3.1 Indicate whether the following statements are TRUE or FALSE. Write only ‘true’ or ‘false’ next to the question numbers (3.1.1 to 3.1.4) in the ANSWER BOOK. 3.1.1 In the periodic inventory system, the Trading stock account is updated every time goods are sold. 3.1.2 In the periodic inventory system, carriage on purchases is recorded in a separate Carriage on purchases account. 3.1.3 Stock losses (theft) are easy to identify when the periodic inventory system is used. 3.1.4 In the periodic inventory system, cost of sales = opening stock + net purchases − closing stock. (4) 3.2 KHANYISA BEAUTY SUPPLIES Nomsa Khanye owns Khanyisa Beauty Supplies. The business uses the periodic inventory system. The financial year ended on 30 June 2026. REQUIRED: 3.2.1 Calculate the net purchases that will be closed off to the Trading account. (5) 3.2.2 Calculate the cost of sales. (3) 3.2.3 Calculate the stock turnover rate for the year. Use average stock. (4) INFORMATION: A. Extract from the Pre-adjustment Trial Balance on 30 June 2026: Trading stock (1 July 2025) R186 400 Purchases R942 600 Creditors’ allowances (returns to creditors) R28 300 Carriage on purchases R18 750 Customs duties on imported stock R9 450 Carriage on sales R6 400 Sales R1 584 000 B. Adjustments and additional information: • Nomsa took stock at cost, R3 600, for her personal use. This was not recorded. • Damaged stock of R2 400 was returned to a supplier on 30 June 2026. This was not recorded. • A physical stock count on 30 June 2026 showed stock on hand of R204 300. Copyright reserved Please turn over ### Page 9 Accounting/P2 9 Hlayiso/Mock 2026 NSC Mock 3.3 VALUE-ADDED TAX (VAT) Ocean View Motor Spares, owned by Ravi Pillay, is a registered VAT vendor. VAT is charged at 15%. The information relates to the VAT period ended 31 August 2026. REQUIRED: 3.3.1 Calculate the missing amounts indicated by (a), (b) and (c) in the table below. (3) 3.3.2 Calculate the VAT amount payable to or receivable from SARS on 31 August 2026. State whether the amount is payable or receivable. (8) 3.3.3 Ravi discovered that a sales assistant gives customers a discount if they pay cash and do not ask for an invoice. These sales are not recorded. Explain why this practice is wrong and give Ravi ONE piece of advice. (3) INFORMATION: TRANSACTION EXCLUDING VAT VAT INCLUDING VAT Cash sales R264 500 Credit sales R368 000 (a) (b) Goods returned by debtors R12 000 Credit purchases of trading stock R412 000 Cash purchases of trading stock (c) R151 800 Goods returned to creditors R9 200 Debts written off as irrecoverable R4 600 New equipment purchased for the shop R69 000 [30] Copyright reserved Please turn over ### Page 10 Accounting/P2 10 Hlayiso/Mock 2026 NSC Mock QUESTION 4: BUDGETING (40 marks; 35 minutes) 4.1 Indicate whether EACH of the following items will appear in the Cash Budget only, in the Projected Income Statement only, or in BOTH. Use the table in the ANSWER BOOK. 4.1.1 Depreciation on equipment 4.1.2 Repayment of a loan (4) 4.1.3 Interest on a loan 4.1.4 Cash drawings BOPHELO SPORTS SHOP Karabo Mokoena owns Bophelo Sports Shop. She is preparing the budgets for January and February 2027. REQUIRED: 4.2 Complete the Debtors’ Collection Schedule for January and February 2027. (7) 4.3 Calculate the missing amounts indicated by (i) to (vii) in the Cash Budget. (14) 4.4 Refer to Information H (December 2026). 4.4.1 Comment on the control over casual wages. Quote figures and give ONE reason for the difference. (3) 4.4.2 Karabo spent less on delivery expenses than budgeted. Explain whether this was a good decision. Quote figures. (3) 4.4.3 Karabo reduced the mark-up from 60% to 50% in December 2026 to attract more customers. Explain, with figures, how this decision affected the gross profit. (3) 4.5 Refer to Information I. 4.5.1 Calculate the total cost of the delivery bakkie and the finance charges that Karabo will pay. (3) 4.5.2 Name TWO additional monthly cash payments that will appear in the Cash Budget once the bakkie is bought, and ONE item relating to the bakkie that will appear only in the Projected Income Statement. (3) INFORMATION: A. Total sales (actual and budgeted): Oct 2026 (actual) Nov 2026 (actual) Dec 2026 (actual) Jan 2027 Feb 2027 R400 000 R380 000 R516 000 R300 000 R340 000 • 30% of sales are for cash and 70% are on credit. • From January 2027, goods are sold at a mark-up of 60% on cost. B. Credit sales are collected as follows: • 50% in the month after the sale • 35% two months after the sale • 12% three months after the sale • 3% is written off as bad debts Copyright reserved Please turn over ### Page 11 Accounting/P2 11 Hlayiso/Mock 2026 NSC Mock C. Purchases of stock equal the cost of sales of the same month. 25% of purchases are for cash. Creditors are paid in full in the month after the purchase. (December 2026 purchases amounted to R344 000.) D. Two shop assistants each earn R12 800 per month. They will receive an increase of 7% from 1 February 2027. E. The business has a loan of R240 000 at 12% interest p.a. Interest is paid at the end of each month. An additional loan will be received on 1 February 2027 at the same interest rate. No capital will be repaid in January and February 2027. F. Advertising is budgeted at 3% of total sales. Rent of R22 000 per month will increase by 5% from 1 February 2027. G. Extract from the Cash Budget: JANUARY 2027 FEBRUARY 2027 RECEIPTS Cash sales 90 000 (i) Loan received – (v) PAYMENTS Cash purchases of stock 46 875 (ii) Payments to creditors 258 000 (iii) Salaries of shop assistants 25 600 (iv) Interest on loan 2 400 3 150 Advertising 9 000 (vi) Rent expense 22 000 (vii) Drawings 12 000 12 000 H. Budgeted and actual figures for December 2026: BUDGETED ACTUAL Total sales R560 000 R516 000 Mark-up on cost 60% 50% Casual wages R8 000 R14 500 Delivery expenses R6 000 R5 400 Several customers complained in December that their orders were delivered late. I. Karabo plans to buy a delivery bakkie costing R380 000 on 1 March 2027. She will pay a deposit of 10% and 54 monthly instalments of R7 850 each. [40] TOTAL: 150 Copyright reserved Please turn over ### Page 12 Accounting/P2 12 Hlayiso/Mock 2026 NSC Mock GRADE 11 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 Average debtors 365 Average creditors 365 × × Credit sales 1 Credit purchases 1 Average inventories 365 Cost of sales × Cost of sales 1 Average inventories Total fixed costs Selling price per unit − Variable costs per unit Copyright reserved ## Related documents - [ACCOUNTING P2 GR11 QP NOV2023 English](https://www.hlayiso.com/library/accounting-p2-gr11-qp-nov2023-english/f476ab04-a9d8-48f8-8d61-d147a95b251f) — Accounting · QP · 2023 · Eng - [ACCOUNTING P2 GR11 QP NOV2022 English](https://www.hlayiso.com/library/accounting-p2-gr11-qp-nov2022-english/f43f0b46-185b-41cf-bed5-88654714f772) — Accounting · QP · 2022 · Eng - [ACCOUNTING P2 GR12 ANS BOOK NOV2022 English](https://www.hlayiso.com/library/accounting-p2-gr12-ans-book-nov2022-english/f4a4602d-bd68-471c-908e-7d2b30e5baa9) — Accounting · QP · 2022 · Eng - [Gr11 Acc P2 (English) November 2019 Question Paper](https://www.hlayiso.com/library/gr11-acc-p2-english-november-2019-question-paper/b6618943-9dc1-49c2-a1e9-55b45e559a00) — Accounting · QP · 2019 · Eng - [Grade 11 ACC P2 (English) June 2023 Answerbook](https://www.hlayiso.com/library/grade-11-acc-p2-english-june-2023-answerbook-1/c240ab3d-7672-41d9-832e-83884ae4b9d9) — Accounting · Addendum · 2023 · Eng - [Grade 11 ACC P2 (English) June 2023 Possible Answers](https://www.hlayiso.com/library/grade-11-acc-p2-english-june-2023-possible-answers/fa85abfa-9f3e-4e3a-ba88-499b2e0673a6) — Accounting · Memo · 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 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) — Memo · 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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