Accounting Grade 11 P2 November Mock 2026 Memo (English)

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 10 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 CRJ CPJ Provisional total 186 400 Provisional total 172 950 Interest on credit balance 60 ✓ Bank charges (385 + 140) 525 ✓ EFT: rent from S Mahlangu 7 800 ✓ Insurance (debit order) 2 450 ✓ Error: EFT no. 318 (4 860 – 4 180 ✓ R/D cheque: P Zulu 3 100 ✓ 680) Post-dated cheque no. 156 3 200 ✓ Donation (stop order) 500 ✓ Final total 197 640 ⊡ Final total 179 525 ⊡ 10 Accept the error of R180 and cheque no. 156 shown as negative amounts in the CPJ (then CPJ total 176 145; CRJ total 194 260). Bank charges may be shown separately. 1.1.2 WORKINGS ANSWER 8 640 ✓ + 197 640 ✓ – 179 525 ✓ 26 755 ⊡ Favourable (debit) balance. Accept a ledger-account 4 presentation. 1.1.3 BANK RECONCILIATION STATEMENT ON 31 AUGUST 2026 DEBIT CREDIT Credit balance as per bank statement (balancing 25 245 ✓⊡ figure) Credit outstanding deposit 12 300 ✓ Debit outstanding EFTs: no. 207 3 850 ✓ no. 322 6 940 ✓ Debit balance as per Bank account see 1.1.2 26 755 ✓ 37 545 37 545 6 Do NOT accept cheque no. 156 as an outstanding item. Accept the alternative layout (bank statement balance adjusted to the Bank account balance). 1.1.4 Concern ✓✓: EFT no. 207 has been outstanding since July; an EFT is normally processed immediately, so it may not have been processed, may have been paid into an incorrect account, or may be fraudulent. Action ✓ (any ONE): check the transaction with the bank and the supplier 3 (proof of payment); if it was not processed, reverse it in the CRJ and pay again. Copyright reserved Please turn over

Accounting/P2 4 Hlayiso/Mock 2026 NSC – Marking Guidelines 1.2.1 No. CREDITORS’ LEDGER CREDITOR’S STATEMENT Balance 31 260 45 575 (a) + 5 400 ✓✓ (b) − 7 200 ✓✓ (c) + 360 ✓✓ (d) − 270 ✓✓ (e) + 900 ✓✓ (f) + 185 ✓ 38 105 ⊡ 38 105 12 Award marks for the amount in the correct column with the correct sign. Totals: one part correct; both totals must agree for the mark. 1.2.2 WORKINGS ANSWER 360 / (6 840 + 360) × 100 (360 / 7 200 ✓) 5% ⊡ 2 1.2.3 Advice ✓: pay creditors on time / before the due date (use a payment schedule or set up EFT reminders). Benefit ✓✓ (any ONE explained): the business will earn the 5% settlement 3 discount, which reduces the cost of stock; it will avoid interest charges; it keeps a good credit record and relationship with the supplier. TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 5 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 2 2.1.1 Factory overhead cost ✓ 2.1 2.1.2 Selling and distribution cost ✓ 3 2.1.3 Direct material cost ✓ 2.2.1 Direct material cost WORKINGS ANSWER 48 600 + 612 000 ✓ + 18 400 ✓ – 9 800 ✓ – 56 200 ✓ 613 000 ⊡ 5 2.2.2 Direct labour cost WORKINGS ANSWER Normal wages: 5 × 1 800 × R52 = 468 000 ✓✓ 542 880 ⊡ Overtime: 360 × R78 (52 × 1,5) = 28 080 ✓✓ 7 Contributions: 10% × 468 000 = 46 800 ✓✓ 2.2.3 Correct factory overhead cost WORKINGS ANSWER Bookkeeper’s figure 284 300 (i) Rent: 144 000 × 25% − 36 000 ✓✓ (ii) Insurance: 36 000 × 2/3 + 24 000 ✓✓ 8 (iii) Water and electricity: 72 000 × (80% – 50%) + 21 600 ✓✓ (iv) Cleaner: 54 000 × 60% + 32 400 ✓✓ Correct factory overhead cost 326 300 Copyright reserved Please turn over

Accounting/P2 6 Hlayiso/Mock 2026 NSC – Marking Guidelines 2.2.4 GENERAL LEDGER OF IKHAYA FURNITURE MAKERS WORK-IN-PROGRESS STOCK 2025 2026 Jul 1 Balance b/d 34 500 ✓ Jun 30 Finished goods 1 475 000 stock ✓✓ 2026 Balance c/d 41 680 ✓ Jun 30 Raw materials stock 613 000 ✓ Direct labour cost 542 880 ✓ Factory overhead 326 300 ✓ cost 1 516 680 1 516 680 ✓ 8 Finished goods stock is the balancing figure: one part correct. Award marks for details and amounts; ignore dates. Accept “Direct material cost” for raw materials stock. 2.2.5 Cost of production per chair WORKINGS ANSWER 1 475 000 / 2 950 ✓ R500 ⊡ 2 2.2.6 Break-even point WORKINGS ANSWER Variable cost per unit: 1 327 500 / 2 950 = R450 ✓ 1 100 units ⊡ 4 440 000 ✓ / (850 ✓ – 450) = 440 000 / 400 2.2.7 The business produced and sold 2 950 chairs, which is 1 850 chairs (168%) more than the break-even point of 1 100 chairs ✓✓. The business made a profit (contribution of R400 on each of the 1 850 chairs above 3 break-even = R740 000) ✓. TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 7 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 3 3.1.1 Closing stock: Trailblazer (FIFO) WORKINGS ANSWER 55 units ✓ from the latest purchase (12 January 2026) ✓ 148 500 ⊡ 4 55 × R2 700 ✓ 3.1.2 Gross profit: Trailblazer WORKINGS ANSWER Sales: 165 × R4 000 = 660 000 ✓ 243 500 ⊡ Cost of sales: 565 000 ✓ – 148 500 = 416 500 ✓ 4 (565 000 = 96 000 + 150 000 + 130 000 + 189 000) 3.1.3 Closing stock: City Rider (weighted average) WORKINGS ANSWER Cost: 45 000 + 194 400 ✓ – 9 600 ✓ + 6 000 ✓ = 235 60 587,50 ⊡ 800 Units: 30 + 120 – 6 = 144 ✓ Weighted average: 235 800 / 144 = R1 637,50 ✓ 6 37 × R1 637,50 Accept R60 588. Closing stock must be valued on the units physically on hand (37). 3.1.4 Missing City Riders WORKINGS ANSWER Should be on hand: 144 – 104 = 40 ✓ 4 912,50 ⊡ Missing: 40 – 37 = 3 units ✓ 4 3 × R1 637,50 ✓ 3.1.5 Any TWO ✓✓ ✓✓: lock bicycles with chains/cables and store them in a locked storeroom; install CCTV cameras and alarm systems; regular (surprise) stock counts compared with the records; restrict access to the storeroom to authorised staff; one person receives stock and another 4 person records it (division of duties); use a perpetual inventory system to track each unit. Copyright reserved Please turn over

Accounting/P2 8 Hlayiso/Mock 2026 NSC – Marking Guidelines 3.2.1 VAT payable to SARS WORKINGS ANSWER Output VAT on sales: 724 500 × 15/115 = 94 500 ✓ 32 580 ⊡ Debtors’ returns: 13 800 × 15/115 = (1 800) ✓ Goods taken by the owner: 1 150 × 15/115 = 150 ✓ Input VAT on purchases: 460 000 × 15/115 = (60 000) 6 ✓ Bad debts: 2 070 × 15/115 = (270) ✓ (Zero-rated sales: no VAT) 3.2.2 Any ONE ✓✓: to make basic foods more affordable for poor households; to reduce the burden of VAT on low-income earners; it is part 2 of government’s social responsibility to promote food security. TOTAL MARKS 30 Copyright reserved Please turn over

Accounting/P2 9 Hlayiso/Mock 2026 NSC – Marking Guidelines QUESTION 4 4.1 DEBTORS’ COLLECTION SCHEDULE MONTH CREDIT SALES DECEMBER 2026 JANUARY 2027 October 2026 252 000 30 240 ✓ November 2026 288 000 158 400 ✓ 34 560 ✓ December 2026 360 000 102 600 ✓✓ 198 000 ✓ January 2027 216 000 61 560 ✓ TOTAL 291 240 294 120 ⊡ 8 102 600 = 360 000 × 30% × 95%; 61 560 = 216 000 × 30% × 95%. Totals: one part correct (award if both totals are correct according to the candidate’s figures). 4.2 WORKINGS ANSWER (i) 600 000 × 40% ✓ 240 000 ⊡ (ii) 12 000 × 108% ✓ 12 960 ⊡ (iii) Cost of December sales: 600 000 ✓ × 100/150 ✓ 400 000 ⊡ (iv) 43 500 ✓ × 106% ✓ 46 110 ⊡ (OR: 3 × 14 500 × 1,06) (v) (300 000 – 60 000) ✓ × 12% × 1/12 ✓ 2 400 ⊡ (vi) 15 000 ✓ × 70% ✓ 10 500 ⊡ 16 Copyright reserved Please turn over

Accounting/P2 10 Hlayiso/Mock 2026 NSC – Marking Guidelines 4.3 WORKINGS ANSWER 360 000 × 30% × 5% ✓ 5 400 ⊡ 2 4.4.1 WORKINGS ANSWER (500 000 – 480 000) = 20 000 ✓ / 500 000 ✓ × 100 4,0% ⊡ 3 4.4.2 Advertising was R5 500 (44%) more than budgeted ✓, but actual sales were still R20 000 (4%) below the budget ✓. It was not a good 3 decision; the extra advertising did not increase sales ✓. 4.4.3 The telephone expense was R2 650 (82,8%) more than budgeted (R5 850 vs R3 200); poor control ✓✓. Suggestion ✓✓ (any ONE): use a telephone log; limit private calls (PIN 4 codes/call barring); change to a cheaper contract or data-based calls; monitor monthly accounts. 4.5 Items ✓✓ (any TWO): depreciation; bad debts; discount allowed; (trading stock deficit). Reason ✓✓: These are non-cash items; there is no inflow or outflow of 4 cash. TOTAL MARKS 40 Copyright reserved