# Accounting Grade 11 P2 November Mock 2026 QP (Eng) > Grade 11 Accounting Paper 2 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-2/23b01a3d-4c7f-4c08-87ca-2f521d5b13fd - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 11 - Language: English - Document type: Question paper - Year: 2026 - Exam period: November Mock Exam - Paper: 2 - 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 P2 November Mock 2026 QP (Eng)](https://www.hlayiso.com/library/grade-11-accounting-2026-november-mock-exam-question-paper-paper-2/23b01a3d-4c7f-4c08-87ca-2f521d5b13fd) ## 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 P2 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/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 Valuation 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 BANK RECONCILIATION The information relates to Ntsako Stores for August 2026. The business is owned by Ntsako Baloyi. REQUIRED: 1.1.1 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) 1.1.2 Calculate the correct balance of the Bank account in the General Ledger on 31 August 2026. (4) 1.1.3 Prepare the Bank Reconciliation Statement on 31 August 2026. (6) 1.1.4 Refer to EFT no. 207. Explain why Ntsako should be concerned about this item and state what he should do about it. (3) INFORMATION: A. Extract from the Bank Reconciliation Statement on 31 July 2026: Credit outstanding deposit (31 July 2026) R14 600 Debit outstanding EFT no. 207 R3 850 Favourable balance as per Bank account R8 640 The outstanding deposit appeared on the August 2026 bank statement. EFT no. 207 does NOT appear on the August 2026 bank statement. B. Provisional totals in the cash journals on 31 August 2026: CRJ, R186 400; CPJ, R172 950. C. The following entries appeared on the bank statement for August 2026, but not in the cash journals: Service fees R385 Cash deposit fees R140 Interest on the credit balance R60 Debit order: Shield Insurance R2 450 EFT received from the tenant, S Mahlangu (rent for R7 800 August) R/D cheque from a debtor, P Zulu R3 100 Stop order: donation to Ithemba Children’s Home R500 D. EFT no. 318 for R4 680 to a creditor was recorded in the CPJ as R4 860. The bank statement shows the correct amount. E. Cheque no. 156 for R3 200, issued to Fix-It Maintenance, was recorded in the CPJ for August 2026. The cheque is dated 10 September 2026. F. The following entries in the August 2026 cash journals do not appear on the bank statement: • A deposit of R12 300 made on 31 August 2026 • EFT no. 322 for R6 940 Copyright reserved Please turn over ### Page 4 Accounting/P2 4 Hlayiso/Mock 2026 NSC Mock 1.2 CREDITORS’ RECONCILIATION Ntsako Stores buys goods on credit from Mega Wholesalers. On 31 August 2026, the account of Mega Wholesalers in the Creditors’ Ledger showed a credit balance of R31 260. The statement received from Mega Wholesalers, dated 25 August 2026, showed a balance of R45 575. REQUIRED: 1.2.1 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. (12) 1.2.2 Refer to (c). Calculate the percentage discount that Ntsako Stores tried to claim. (2) 1.2.3 Ntsako was unhappy about the interest charged in (f) and the discount that was refused in (c). Give him advice on how to avoid this in future. State ONE point and explain how the business will benefit. (3) INFORMATION: (a) Invoice no. 841 for R5 400 appears on the statement, but was not recorded by Ntsako Stores. (b) A payment of R7 200 was made to Mega Wholesalers on 28 August 2026. (c) On 10 August 2026, Ntsako Stores paid R6 840 and recorded a discount received of R360 in the Creditors’ Ledger. Mega Wholesalers did not allow the discount because the payment was late. (d) Goods of R1 850 returned to Mega Wholesalers were correctly recorded by Ntsako Stores, but appear on the statement as R1 580. (e) Invoice no. 829 for R3 260 was posted to the Creditors’ Ledger as R2 360. (f) Interest of R185 charged by Mega Wholesalers on an overdue amount appears on the statement only. [40] Copyright reserved Please turn over ### Page 5 Accounting/P2 5 Hlayiso/Mock 2026 NSC Mock QUESTION 2: COST ACCOUNTING (40 marks; 30 minutes) 2.1 Choose the cost category from the list below that matches EACH cost of a furniture factory. Write only the cost category next to the question numbers (2.1.1 to 2.1.3) in the ANSWER BOOK. direct material cost; direct labour cost; factory overhead cost; selling and distribution cost; administration cost 2.1.1 Wages of the cleaner of the factory 2.1.2 Commission paid to sales representatives 2.1.3 Wood used to manufacture chairs (3) 2.2 IKHAYA FURNITURE MAKERS Bongani Ndlovu owns Ikhaya Furniture Makers, a business that manufactures wooden chairs. The financial year ended on 30 June 2026. REQUIRED: 2.2.1 Calculate the direct material cost. (5) 2.2.2 Calculate the direct labour cost. (7) 2.2.3 Calculate the correct factory overhead cost. Start with the bookkeeper’s figure and indicate + or − for EACH correction. (8) 2.2.4 Prepare the Work-in-progress stock account in the General Ledger. Balance/close off the account. (8) 2.2.5 Calculate the cost of production per chair. (2) 2.2.6 Calculate the break-even point. (4) 2.2.7 Comment on the break-even point in relation to the number of chairs produced and sold. Quote figures. (3) INFORMATION: A. Stock balances: 30 June 2026 1 July 2025 R R Raw materials stock 56 200 48 600 Work-in-progress stock 41 680 34 500 B. Raw materials: • Raw materials purchased during the year, R612 000 • Carriage on raw materials purchased, R18 400 • Damaged raw materials returned to suppliers, R9 800 Copyright reserved Please turn over ### Page 6 Accounting/P2 6 Hlayiso/Mock 2026 NSC Mock C. Factory workers: • Five factory workers each worked 1 800 normal hours during the year at R52 per hour. • The workers worked a total of 360 overtime hours. Overtime is paid at one-and-a-half times the normal rate. • The business contributes 10% of the normal wages (excluding overtime) to the UIF and pension fund. D. The bookkeeper calculated the factory overhead cost as R284 300. The following errors and omissions were found: (i) The full rent expense of R144 000 was included. The factory occupies 75% of the floor space; the rest is used by the office. (ii) Insurance of R36 000 must be shared between the factory and the office in the ratio 2 : 1. No insurance was included. (iii) Water and electricity amounted to R72 000. The factory uses 80% of this, but the bookkeeper included only 50%. (iv) The salary of a cleaner, R54 000 for the year, was omitted. She spends 60% of her time cleaning the factory. E. Production and sales: • 2 950 chairs were produced and sold during the year at R850 each. • Total variable costs for the year amounted to R1 327 500. • Total fixed costs for the year amounted to R440 000. [40] Copyright reserved Please turn over ### Page 7 Accounting/P2 7 Hlayiso/Mock 2026 NSC Mock QUESTION 3: INVENTORY VALUATION AND VAT (30 marks; 25 minutes) 3.1 LINDO’S CYCLES Lindo Mthembu owns a shop that sells two models of bicycles. The business uses the periodic inventory system. The financial year ended on 28 February 2026. REQUIRED: 3.1.1 Calculate the value of the closing stock of the Trailblazer on 28 February 2026, using the first-in, first-out (FIFO) method. (4) 3.1.2 Calculate the gross profit on the Trailblazer for the year. (4) 3.1.3 Calculate the value of the closing stock of the City Rider on 28 February 2026, using the weighted-average method. (6) 3.1.4 Calculate the number of City Rider bicycles missing and the cost of the missing bicycles. (4) 3.1.5 Give TWO internal control measures that Lindo can use to prevent the theft of bicycles. (4) INFORMATION: A. Trailblazer (mountain bike): Date Units Cost per unit Total 1 March 2025 (opening stock) 40 R2 400 R96 000 Purchased: 15 June 2025 60 R2 500 R150 000 Purchased: 20 September 2025 50 R2 600 R130 000 Purchased: 12 January 2026 70 R2 700 R189 000 165 Trailblazers were sold during the year at R4 000 each. A stock count on 28 February 2026 showed 55 units on hand. B. City Rider: • Opening stock on 1 March 2025: 30 units at R1 500 each. • 120 units were purchased during the year for a total of R194 400. • 6 damaged units (cost R1 600 each) were returned to the supplier. • Carriage on purchases of City Riders amounted to R6 000. • 104 units were sold during the year. • A stock count on 28 February 2026 showed 37 units on hand. Copyright reserved Please turn over ### Page 8 Accounting/P2 8 Hlayiso/Mock 2026 NSC Mock 3.2 VALUE-ADDED TAX (VAT) Thuli’s Supermarket is a registered VAT vendor. VAT is charged at 15%. The following information relates to the VAT period ended 31 August 2026. All amounts include VAT, where applicable. Sales of standard-rated goods R724 500 Sales of zero-rated goods (e.g. brown bread, maize meal) R85 000 Goods returned by debtors (standard-rated) R13 800 Purchases of standard-rated trading stock R460 000 Debts written off as irrecoverable (standard-rated sales) R2 070 Goods taken by the owner for own use (standard-rated, at R1 150 cost) REQUIRED: 3.2.1 Calculate the amount payable to SARS for this VAT period. (6) 3.2.2 Explain why certain basic foodstuffs are zero-rated. (2) [30] Copyright reserved Please turn over ### Page 9 Accounting/P2 9 Hlayiso/Mock 2026 NSC Mock QUESTION 4: BUDGETING (40 marks; 35 minutes) SIYAKHULA TRADERS Zanele Khoza owns Siyakhula Traders, a shop that sells household appliances. She is preparing the budgets for December 2026 and January 2027. REQUIRED: 4.1 Complete the Debtors’ Collection Schedule for December 2026 and January 2027. (8) 4.2 Calculate the missing amounts indicated by (i) to (vi) in the Cash Budget. (16) 4.3 Calculate the discount allowed to debtors in December 2026. (2) 4.4 Refer to Information I (November 2026). 4.4.1 Calculate the percentage by which the actual sales were below the budgeted sales. (3) 4.4.2 Zanele decided to spend more on advertising in November. Explain whether this was a good decision. Quote figures. (3) 4.4.3 Comment on the control over the telephone expense. Quote figures and give ONE suggestion. (4) 4.5 Name TWO items that will appear in the Projected Income Statement but NOT in the Cash Budget. Explain why they do not appear in the Cash Budget. (4) INFORMATION: A. Total sales (actual and budgeted): October 2026 (actual) November 2026 (actual) December 2026 January 2027 R420 000 R480 000 R600 000 R360 000 • 40% of sales are for cash and 60% are on credit. • Goods are sold at a mark-up of 50% on cost. B. Debtors pay as follows: • 30% in the month of the sale; these debtors receive a 5% discount • 55% in the month after the sale • 12% two months after the sale • 3% is written off as bad debts C. Stock sold is replaced in the month of the sale. All stock is bought on credit, and creditors are paid in the month after the purchase. D. Rent income is R12 000 per month. It will increase by 8% from 1 January 2027. E. Three shop assistants each earn R14 500 per month. They will receive an increase of 6% from 1 January 2027. F. The business has a loan of R300 000 at 12% interest p.a. Interest is paid at the end of each month. R60 000 of the loan will be repaid on 31 December 2026. Copyright reserved Please turn over ### Page 10 Accounting/P2 10 Hlayiso/Mock 2026 NSC Mock G. Zanele draws R15 000 per month. In December 2026, 30% of her drawings will be in the form of trading stock. H. Extract from the Cash Budget: DECEMBER 2026 JANUARY 2027 RECEIPTS Cash sales (i) 144 000 Rent income 12 000 (ii) PAYMENTS Payments to creditors 320 000 (iii) Salaries of shop assistants 43 500 (iv) Advertising (2,5% of sales) 15 000 9 000 Interest on loan 3 000 (v) Repayment of loan 60 000 – Drawings (vi) 15 000 Telephone 3 400 3 400 I. Budgeted and actual figures for November 2026: BUDGETED ACTUAL Total sales R500 000 R480 000 Advertising R12 500 R18 000 Telephone R3 200 R5 850 [40] TOTAL: 150 Copyright reserved Please turn over ### Page 11 Accounting/P2 11 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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