# Accounting Grade 11 P1 November Mock 2026 QP (Eng) > Grade 11 Accounting Paper 1 question paper from the November Mock Exam 2026 (English), 11 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-question-paper-paper-1/c17bb887-cc21-4ec6-99d4-30f9eeccd0a1 - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 11 - Language: English - Document type: Question paper - Year: 2026 - Exam period: November Mock Exam - 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 2026 QP (Eng)](https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-question-paper-paper-1/c17bb887-cc21-4ec6-99d4-30f9eeccd0a1) ## About this document Accounting · Grade 11 · November Mock Exam · 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 the list below that matches EACH description. Write only the principle next to the question numbers (1.1.1 to 1.1.4) in the ANSWER BOOK. going concern; historical cost; prudence; matching; materiality; business entity 1.1.1 Assets are recorded at the price that was paid for them on the date of acquisition. 1.1.2 Income and expenses must be recorded in the financial period in which they were earned or incurred. 1.1.3 Financial statements are prepared on the assumption that the business will continue to operate in the foreseeable future. 1.1.4 Assets and income should not be overstated, and liabilities and expenses should not be understated. (4) 1.2 KAYA HARDWARE Kaya Hardware is a partnership owned by S Mokoena and R Naidoo. The financial year ended on 28 February 2026. REQUIRED: 1.2.1 Refer to Information B(a). Calculate the profit or loss on the sale of equipment on 30 November 2025. (5) 1.2.2 Calculate the total depreciation on equipment for the year ended 28 February 2026. (6) 1.3 Prepare the Statement of Comprehensive Income (Income Statement) for the year ended 28 February 2026. (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 28 February 2026: R Land and buildings 1 450 000 Vehicles 640 000 Equipment 380 000 Accumulated depreciation on vehicles (1 March 2025) 236 000 Accumulated depreciation on equipment (1 March 2025) 152 000 Fixed deposit: Lwazi Bank (9% p.a.) 150 000 Trading stock 386 400 Debtors’ control 214 100 Provision for bad debts (1 March 2025) 9 800 Sales 4 913 600 Cost of sales 3 045 000 Debtors’ allowances 41 600 Rent income 129 600 Commission income 36 450 Bad debts recovered 3 200 Interest on fixed deposit 10 125 Salaries and wages 684 000 Employer’s contributions 61 560 Insurance 39 600 Water and electricity 48 300 Telephone 18 900 Stationery 14 200 Bad debts 6 900 Repairs and maintenance 22 600 Sundry expenses 31 750 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 equipment is calculated at 15% p.a. on cost. • The balance of the Equipment account includes new equipment of R60 000 that was bought on 1 September 2025. • On 30 November 2025, old equipment was sold for R18 000 cash. This equipment had cost R48 000, and the accumulated depreciation on it on 1 March 2025 was R21 600. The sale has not yet been recorded. • Depreciation on vehicles is calculated at 20% p.a. on the diminishing-balance method. No vehicles were bought or sold during the year. (b) A debtor, T Sithole, returned goods that had been sold to her on credit for R4 800. This transaction was not recorded. The business uses a mark-up of 60% on cost. (c) The account of a debtor, M Botha, of R2 300 must be written off as irrecoverable. The provision for bad debts must then be adjusted to 4% of the debtors’ balance. (d) The business rents out a section of its building. The monthly rent was R9 600 until 31 October 2025, after which it was increased by 10%. The tenant has already paid rent up to 31 March 2026. (e) Commission income of R2 150 for February 2026 is still outstanding. (f) The insurance amount includes an annual premium of R21 600 that was paid on 1 June 2025 for the period 1 June 2025 to 31 May 2026. (g) The water and electricity account of R4 250 for February 2026 was received but has not yet been recorded or paid. (h) The telephone account includes R1 600 for partner Mokoena’s private cellphone account. (i) Stationery on hand on 28 February 2026 amounted to R1 850. (j) A new employee was omitted from the Salaries Journal for February 2026. Her gross salary is R15 000, and her deductions amount to R3 450. The business contributes R1 650 to the UIF and pension fund on her behalf. (k) R5 400 paid for the repainting of the business premises was incorrectly debited to the Land and buildings account. (l) A physical stock count on 28 February 2026 showed trading stock of R380 300. This includes the goods returned in (b). (m) The fixed deposit was invested for the whole financial year. Provide for the outstanding interest. (n) The loan statement received from Lwazi Bank showed the following: Balance on 1 March 2025 R480 000 Monthly instalments (including interest) R9 500 Balance on 28 February 2026 R418 600 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) DP ELECTRICAL The information relates to DP Electrical, a partnership owned by L Dlamini and K Pillay. The financial year ended on 30 June 2026. REQUIRED: 2.1 Prepare the Trade and other receivables note on 30 June 2026. (6) 2.2 Prepare the Partners’ current accounts note on 30 June 2026. (18) 2.3 Complete the Statement of Financial Position (Balance Sheet) on 30 June 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 30 June 2026: R Capital: Dlamini 600 000 Capital: Pillay 400 000 Current account: Dlamini (1 July 2025) 18 400 (Cr) Current account: Pillay (1 July 2025) 12 600 (Dr) Drawings: Dlamini 210 000 Drawings: Pillay 245 000 Fixed assets at carrying value 1 252 000 Fixed deposit: Nala Bank 120 000 Trading stock 342 800 Consumable stores on hand 2 400 Debtors’ control 186 500 Creditors’ control 168 400 Prepaid expenses 3 600 Accrued income (interest on fixed deposit) 1 800 Accrued expenses 6 200 Income received in advance 4 500 SARS: PAYE 7 300 Cash float and petty cash 5 000 Bank ? B. Partnership agreement: • Partners earn interest on capital at 10% p.a. Pillay withdrew R100 000 of his capital on 1 January 2026. This was recorded. • Monthly salaries: Dlamini, R18 000; Pillay, R15 000. Pillay’s salary was increased by R2 000 per month from 1 April 2026. • Each partner receives a bonus equal to 50% of his salary for June 2026. • The remaining profit or loss is shared between Dlamini and Pillay in the ratio 3 : 2. • The net profit for the year, correctly calculated, was R711 500. Copyright reserved Please turn over ### Page 7 Accounting/P1 7 Hlayiso/Mock 2026 NSC Mock C. Pillay took trading stock with a cost price of R6 500 for his own use. This has not been recorded. D. A debtor with a credit balance of R2 300 in the Debtors’ Ledger must be transferred to the Creditors’ Ledger. E. The provision for bad debts must be 5% of the trade debtors (after taking Information D into account). F. R30 000 of the fixed deposit matures on 31 October 2026. G. The loan statement from Nala Bank showed the following: Balance on 1 July 2025 R540 000 Monthly repayments (including interest) R8 000 Interest capitalised for the year R58 400 Balance on 30 June 2026 ? R72 000 of the loan will be paid back in the next financial year. H. The Bank balance 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) MZANSI SPORTSWEAR The information relates to Mzansi Sportswear, a partnership owned by T Zwane (Thandi) and K Molefe (Kabelo). The financial year ended on 30 June 2026. REQUIRED: 3.1 Choose a concept from the list below that matches EACH question. Write only the concept next to the question numbers (3.1.1 to 3.1.4) in the ANSWER BOOK. liquidity; solvency; profitability; risk and gearing; operating efficiency 3.1.1 Is the business able to pay all its debts if it has to close down? 3.1.2 Is the business able to pay its short-term debts when they become due? 3.1.3 To what extent is the business financed by borrowed money? 3.1.4 Does the business manage its expenses well in relation to its sales? (4) 3.2 Calculate the following financial indicators for the year ended 30 June 2026: 3.2.1 % mark-up achieved (3) 3.2.2 Acid-test ratio (4) 3.2.3 % return earned by partner Thandi on her average equity (5) 3.3 In ALL the questions below, quote financial indicators, figures and trends. 3.3.1 Profitability: The partners reduced the mark-up percentage to increase sales. Explain whether this decision was successful. Quote TWO relevant figures or indicators. (4) 3.3.2 Liquidity: Comment on the liquidity of the business. Quote TWO financial indicators (other than the current ratio and acid-test ratio). Give ONE suggestion to improve EACH indicator. (6) 3.3.3 Risk and gearing: The partners increased the loan by R450 000 during the year. Explain whether this was a good decision. Quote TWO financial indicators. (4) 3.3.4 Returns: Should Thandi be satisfied with the return that she earned? Quote figures. (4) 3.3.5 Kabelo has suggested that they admit a third partner. State ONE advantage of admitting a new partner. (1) Copyright reserved Please turn over ### Page 9 Accounting/P1 9 Hlayiso/Mock 2026 NSC Mock INFORMATION: A. Extract from the Statement of Comprehensive Income: 2026 2025 R R Sales 2 400 000 2 100 000 Cost of sales 1 500 000 1 200 000 Operating expenses 540 000 420 000 Net profit for the year 330 000 465 000 B. Extract from the Statement of Financial Position on 30 June: 2026 2025 R R Inventories 410 000 290 000 Trade and other receivables 196 000 150 000 Cash and cash equivalents 24 000 85 000 Partners’ equity: Thandi (capital + current account) 864 000 840 000 Partners’ equity: Kabelo (capital + current account) 596 000 580 000 Loan: Ubuntu Bank 876 000 426 000 Current liabilities 350 000 250 000 C. Thandi’s earnings for the year ended 30 June 2026: salary R96 000; interest on capital R64 000; share of the remaining profit R19 000. D. Financial indicators: 2026 2025 % mark-up achieved ? 75,0% % operating expenses on sales 22,5% 20,0% Current ratio 1,8 : 1 2,1 : 1 Acid-test ratio ? 0,9 : 1 Stock holding period 85 days 70 days Average debtors’ collection period 48 days 31 days Average creditors’ payment period 35 days 60 days Debt-equity ratio 0,6 : 1 0,3 : 1 % return on average owners’ equity 22,9% 30,2% % return earned by Thandi ? 25,4% Interest rate on loans 13,0% 13,0% Interest rate on fixed deposits 9,0% 8,5% 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) KHULA AUTO SPARES Sipho and Ayesha are partners in Khula Auto Spares. Read the information below and answer the questions. • Sipho regularly fills his family car with fuel using the business’s fuel card. These amounts are recorded as “Fuel” expenses of the business. • The cashier, Lebo, receives cash from customers, records the receipts in the Cash Receipts Journal and deposits the money in the bank once a week. Last month a stock count and a bank reconciliation showed a shortage of R14 500. • Lebo is a cousin of Sipho, and Sipho does not want her to be investigated. REQUIRED: 4.1 Name the GAAP principle that Sipho is ignoring when he uses the fuel card. Briefly explain this principle. (2) 4.2 Explain how Sipho’s use of the fuel card affects the net profit of the business and Ayesha’s share of the profit. (2) 4.3 Identify TWO weaknesses in the internal control over cash. Give a suggestion to address EACH weakness. (4) 4.4 Explain why Sipho’s request that Lebo should not be investigated is unethical. (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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