Accounting Grade 11 P1 November Mock 2026 Memo (English)

hlayiso mock exams Practice Series: Grade 11 Exam Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 11 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 Historical cost ✓ 1.1.2 Matching ✓ 1.1 1.1.3 Going concern ✓ 4 1.1.4 Prudence ✓ 1.2.1 Profit or loss on the sale of equipment WORKINGS ANSWER Depreciation for the current year: 48 000 × 15% × 9/12 (3 000) ⊡ = 5 400 ✓✓ Carrying value: 48 000 – 21 600 ✓ – 5 400 = 21 000 ✓ 5 Loss: 18 000 – 21 000 Answer must be a LOSS (accept 3 000 loss without brackets). One part correct. 1.2.2 Total depreciation on equipment WORKINGS ANSWER Sold: 5 400 ✓ see 1.2.1 50 700 ⊡ Old equipment kept: (380 000 – 60 000 – 48 000 ✓) × 6 15% = 40 800 ✓ New equipment: 60 000 × 15% × 6/12 ✓✓ = 4 500 Copyright reserved Please turn over

Accounting/P1 4 Hlayiso/Mock 2026 NSC – Marking Guidelines 1.3 KAYA HARDWARE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2026 Sales (4 913 600 – 41 600 ✓ – 4 800 ✓) 4 867 200 ✓ Cost of sales (3 045 000 – 3 000 ✓✓) 4 800 × 100/160 (3 042 000) ✓ Gross profit check operation 1 825 200 ✓ Other operating income check operation 162 360 ✓ Rent income (129 600 – 10 560 ✓✓) 119 040 ✓ Commission income (36 450 + 2 150 ✓) 38 600 ✓ Bad debts recovered 3 200 ✓ Provision for bad debts adjustment (9 800 – 8 280) 1 520 ✓✓ 8 280 = 4% × (214 100 – 2 300 – 4 800); may be shown as a negative expense Gross operating income check operation 1 987 560 ✓ Operating expenses check operation (1 091 160) ✓ Salaries and wages (684 000 + 15 000) 699 000 ✓ Employer’s contributions (61 560 + 1 650) 63 210 ✓ Insurance (39 600 – 5 400 ✓) 21 600 × 3/12 34 200 ✓ Water and electricity (48 300 + 4 250) 52 550 ✓ Telephone (18 900 – 1 600) 17 300 ✓ Stationery (14 200 – 1 850) 12 350 ✓ Bad debts (6 900 + 2 300) 9 200 ✓ Repairs and maintenance (22 600 + 5 400) 28 000 ✓ Sundry expenses 31 750 ✓ Depreciation (50 700 see 1.2.2 ✓ + 80 800 ✓✓) 131 500 Vehicles: (640 000 – 236 000) × 20% = 80 800 Loss on sale of asset see 1.2.1 3 000 ✓ Trading stock deficit (386 400 + 3 000 – 380 300) 9 100 ✓✓ Operating profit check operation 896 400 ✓ Interest income (10 125 + 3 375 ✓) 150 000 × 9% 13 500 ✓ Profit before interest expense check operation 909 900 ✓ Interest expense (418 600 – 480 000 + 114 000) (52 600) ✓ Net profit for the year check operation 857 300 ✓ 40 ⊡ Where a total is marked “check operation”, award the mark if the operation is correct and at least one figure is correct. Loss on sale may be shown under other operating income as a negative. Do not penalise for brackets in the operating expenses section. –1 foreign items (max –2). TOTAL MARKS 55 Copyright reserved Please turn over

Accounting/P1 5 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 2 2.1 TRADE AND OTHER RECEIVABLES Trade debtors (186 500 + 2 300 ✓) 188 800 Provision for bad debts (5% × 188 800) (9 440) ✓✓ Net trade debtors 179 360 ⊡ Prepaid expenses 3 600 ✓ Accrued income (interest on fixed deposit) 1 800 ✓ 184 760 6 2.2 PARTNERS’ CURRENT ACCOUNTS DLAMINI PILLAY Salaries 216 000 ✓ 186 000 ✓✓ (15 000 × 9) + (17 000 × 3) Bonuses 9 000 ✓ 8 500 ✓ Interest on capital 60 000 ✓ 45 000 ✓✓ 25 000 + 20 000 Primary distribution 285 000 239 500 ⊡ Secondary distribution (711 500 – 524 112 200 ✓ 74 800 ✓ 500 = 187 000) Share of net profit 397 200 314 300 ⊡ Drawings (210 000) ✓ (251 500) ✓✓ 245 000 + 6 500 Retained income 187 200 62 800 ⊡ Balance on 1 July 2025 18 400 (12 600) ✓ Balance on 30 June 2026 205 600 50 200 ⊡ 18 ⊡ one part correct per column total (inspect both columns; award the mark if at least one column is correct). Accept negative signs or brackets for debits. Copyright reserved Please turn over

Accounting/P1 6 Hlayiso/Mock 2026 NSC – Marking Guidelines 2.3 STATEMENT OF FINANCIAL POSITION ON 30 JUNE 2026 ASSETS Non-current assets check operation 1 342 000 ✓ Fixed assets at carrying value 1 252 000 Fixed deposit: Nala Bank (120 000 – 30 000 ✓) 90 000 ✓ Current assets check operation 604 900 ✓ Inventories (342 800 – 6 500 ✓ + 2 400 ✓) 338 700 ⊡ Trade and other receivables see 2.1 184 760 ✓ Cash and cash equivalents (46 440 ✓✓ + 5 000 ✓ + 30 000 ✓) 81 440 Bank (balancing figure): 1 946 900 – 1 342 000 – 338 700 – 184 760 – 5 000 – 30 000 = 46 440 TOTAL ASSETS (must equal TE&L) 1 946 900 ✓ EQUITY AND LIABILITIES Owners’ equity check operation 1 255 800 ✓ Capital (600 000 + 400 000) 1 000 000 ✓ Current accounts (205 600 + 50 200) see 2.2 255 800 ✓ Non-current liabilities 430 400 ✓ Loan: Nala Bank (540 000 – 96 000 ✓ + 58 400 ✓ – 72 000 ✓) 430 400 Current liabilities check operation 260 700 ✓ Trade and other payables (168 400 + 2 300 ✓ + 6 200 + 4 500 + 7 188 700 ⊡ 300 ✓) Current portion of loan 72 000 ✓ TOTAL EQUITY AND LIABILITIES check operation 1 946 900 ✓ 26 Bank: award ✓✓ for the balancing figure if TE&L is used (one part correct). Accept the fixed deposit (R30 000) shown as a separate current asset. Current portion of loan may be included in trade and other payables. –1 foreign items, –1 misplaced items (max –2). TOTAL MARKS 50 Copyright reserved Please turn over

Accounting/P1 7 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 3 3.1.1 Solvency ✓ 3.1.2 Liquidity ✓ 3.1 3.1.3 Risk and gearing ✓ 4 3.1.4 Operating efficiency ✓ 3.2.1 % mark-up achieved WORKINGS ANSWER 900 000 ✓ / 1 500 000 ✓ × 100 60,0% ⊡ 3 (Gross profit: 2 400 000 – 1 500 000 = 900 000) 3.2.2 Acid-test ratio WORKINGS ANSWER (196 000 ✓ + 24 000 ✓) : 350 000 ✓ 0,6 : 1 ⊡ (OR: 630 000 – 410 000 : 350 000) 4 Accept 0,63 : 1. Answer must be expressed as x : 1. 3.2.3 % return earned by Thandi WORKINGS ANSWER Total earnings: 96 000 + 64 000 + 19 000 = 179 000 ✓✓ 21,0% ⊡ Average equity: ½ (864 000 + 840 000) = 852 000 ✓✓ 5 179 000 / 852 000 × 100 3.3.1 Figures ✓✓ (any TWO): – Sales increased from R2 100 000 to R2 400 000 (by R300 000 or 14,3%). – Gross profit remained the same at R900 000 because the mark-up fell from 75% to 60%. – Net profit decreased from R465 000 to R330 000 (by R135 000 or 29%). 4 – Operating expenses on sales increased from 20,0% to 22,5%. Explanation ✓✓: Not successful. The increase in sales was not enough to compensate for the lower mark-up, so the gross profit did not grow, while expenses increased and net profit fell. 3.3.2 Comment on liquidity (with figures and trends) and suggestions: – Stock holding period increased from 70 days to 85 days ✓✓; stock is selling more slowly and cash is tied up in stock. Suggestion ✓ (any ONE): reduce orders of slow-moving items; hold sales/promotions; improve stock control. – Average debtors’ collection period increased from 31 days to 48 days ✓✓; debtors take longer than the 30-day credit terms. Suggestion ✓ (any ONE): send monthly statements and reminders; 6 charge interest on overdue accounts; offer discount for early payment; screen new debtors. OR: Creditors’ payment period decreased from 60 days to 35 days; the business pays creditors faster than necessary. Suggestion: use the full 60 days’ credit. (Liquidity has deteriorated. Max 3 marks per indicator: figures/trend ✓✓, suggestion ✓.) Copyright reserved Please turn over

Accounting/P1 8 Hlayiso/Mock 2026 NSC – Marking Guidelines 3.3.3 Indicators ✓✓: – Debt-equity ratio increased from 0,3 : 1 to 0,6 : 1 (higher risk, but the business is still lowly geared). – Return on owners’ equity of 22,9% is higher than the interest rate on loans of 13,0% (positive gearing). 4 Explanation ✓✓: Good decision. The business earns more on the borrowed funds than it pays in interest, and the risk is still acceptable. (Accept a reasoned opposing view, e.g. ROE decreased from 30,2% to 22,9% and the interest burden increased.) 3.3.4 Thandi’s return decreased from 25,4% to 21,0% ✓✓. However, it is still much higher than the interest rate on fixed deposits of 9,0% (alternative investment) ✓✓. She should be satisfied (accept partly 4 satisfied with valid reasoning). 3.3.5 Any ONE ✓: additional capital can be contributed; new skills and expertise; the workload is shared; losses/risk are shared by more partners. 1 TOTAL MARKS 35 Copyright reserved Please turn over

Accounting/P1 9 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 4 4.1 Business entity principle ✓ Explanation ✓: The financial affairs of the business must be kept separate 2 from the private affairs of the owners. 4.2 The fuel expense is overstated, so the net profit of the business is understated ✓. Ayesha receives a smaller share of the profit; she is effectively paying for 2 part of Sipho’s private expenses ✓. (The amounts should be debited to Sipho’s drawings.) 4.3 Weakness ✓ and suggestion ✓ for EACH of any TWO (2 × 2 marks): – One person (Lebo) receives cash, records it and deposits it (no division of duties) → separate these duties among different employees. – Cash is deposited only once a week → deposit cash daily (or use cash-in-transit/drop safe). 4 – No independent checking of receipts → the owner/another employee must compare the CRJ with duplicate receipts and deposit slips daily. – Customers may not be issued with receipts → use pre-numbered receipts / a cash register; encourage EFT or card payments. 4.4 Any ONE valid explanation ✓✓: Sipho has a conflict of interest (nepotism); he is protecting a family member at the expense of the business and his partner; he is not acting honestly 2 or transparently towards Ayesha, who also loses money because of the shortage. TOTAL MARKS 10 Copyright reserved