# Accounting Grade 12 P2 NSC November 2025 QP (Eng) > Grade 12 Accounting Paper 2 question paper from the NSC November Exam 2025 (English), 16 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/grade-12-accounting-2025-nsc-november-exam-question-paper-paper-2/3b754d23-6871-46b7-87d6-988f11b88240 - Updated: 2026-09-28 - Subject: Accounting - Grade: Grade 12 - Document type: Question paper - Year: 2025 - Exam period: NSC November Exam - Paper: 2 - Curriculum: CAPS - Pages: 16 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 12](https://www.hlayiso.com/library/grade-12) › [Accounting](https://www.hlayiso.com/library/grade-12/accounting) › [Accounting Grade 12 P2 NSC November 2025 QP (Eng)](https://www.hlayiso.com/library/grade-12-accounting-2025-nsc-november-exam-question-paper-paper-2/3b754d23-6871-46b7-87d6-988f11b88240) ## About this document Accounting · Grade 12 · NSC November Exam · 2025. Question paper, 16 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 Confidential NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING P2 NOVEMBER 2025 MARKS: 150 TIME: 2 hours This question paper consists of 15 pages, a formula sheet and an 11-page answer book. Copyright reserved Please turn over ### Page 2 Accounting/P2 2 DBE/November 2025 NSC Confidential KEEP THIS PAGE BLANK. Copyright reserved Please turn over ### Page 3 Accounting/P2 3 DBE/November 2025 NSC Confidential INSTRUCTIONS AND INFORMATION 2025 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 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 Reconciliations 40 30 2 Stock Valuation 35 30 3 Cost Accounting 35 30 4 Budgeting and Problem-solving 40 30 TOTAL 150 120 Copyright reserved Please turn over ### Page 4 Accounting/P2 4 DBE/November 2025 NSC Confidential QUESTION 1: RECONCILIATIONS (40 marks; 30 minutes) 1.1 BANK RECONCILIATION The information relates to Duma Stores on 31 July 2025. The business is owned by Duma Mathupha. They use the official Bank Statement, received on the 28th of each month, to reconcile their Cash Journals. REQUIRED: 1.1.1 Complete the table provided in the ANSWER BOOK by showing the entries that must be recorded in the Cash Journals on 31 July 2025. (10) 1.1.2 Prepare the Bank Reconciliation Statement on 31 July 2025. (7) 1.1.3 Identify TWO problems (with figures) with the management of cash in Duma Stores. In EACH case, provide a different solution for how these problems can be prevented in future. (6) INFORMATION: A. Extract from the Bank Reconciliation Statement on 30 June 2025: Dated 29 June 2025 R132 000 Outstanding deposits: Dated 30 June 2025 R18 600 EFT 124 (Typek Stationers) R5 310 Outstanding EFTs: EFT 125 (Cola Stores) R9 990 B. Provisional totals in the Cash Journals on 31 July 2025 before receiving the Bank Statement: Cash Receipts Journal Cash Payments Journal R162 000 R55 200 C. Items on the Bank Statement that do not agree with July 2025 Cash Journals: Debit Credit Date Details R R 2025 29 Deposit 132 000 June 30 Deposit 8 600 2025 3 EFT 124 (Typek Stationers) 3 150 July 5 EFT 125 (Cola Stores) 9 990 10 Direct deposit (Q Ngcobo) 16 500 15 Debit order (Prime Insurers) 2 700 15 Debit order (Prime Insurers) 2 700 25 Interest 975 Service fees 605 28 A–Z Suppliers 12 000 (i) The internal auditor discovered that the supporting cash slips for the deposit on 30 June 2025 amounted to R18 600. The shortfall is irrecoverable because the cashier at that time has resigned. Copyright reserved Please turn over ### Page 5 Accounting/P2 5 DBE/November 2025 NSC Confidential (ii) EFT 124 on 3 July 2025 (Typek Stationers) is correct on the Bank Statement. (iii) The direct deposit on 10 July 2025 by Q Ngcobo (a tenant) was recorded incorrectly in the Cash Payments Journal. (iv) The debit order on 15 July 2025 to Prime Insurers for the business insurance was processed twice due to insufficient funds in June. The amounts covered payments for both June and July 2025 to bring the account up to date. (v) A bank transfer on 28 July 2025 in favour of A–Z Suppliers was overstated by R11 000 by the bank clerk. The bank was notified and will correct the error in August 2025. D. Entries in the Cash Journals for July 2025 that were not reflected on the July 2025 Bank Statement: • Deposit on 30 July 2025: R41 850 • EFT 207: R7 650 • EFT 208: R10 800 E. Duma, the owner, used a business debit card on 29 July 2025 for the payment of R13 000 to Star Motors for repairs to the company vehicle, but he neglected to submit the transaction slip to the bookkeeper. F. The Bank Statement on 28 July 2025 showed a favourable balance of R119 080. 1.2 CREDITORS' RECONCILIATION PG Stores is owned by Portia Gina and she buys goods on credit from Matsulu Suppliers. The statement of account received from Matsulu Suppliers reflected a balance of R287 600 for June 2025. 1.2.1 Use the table in the ANSWER BOOK to indicate how the relevant balances will change when preparing the Creditors' Reconciliation. Indicate the amount, as well as a (+) for increase and a (–) for decrease. (11) 1.2.2 The purchasing manager of PG Stores ordered six chairs for the offices. His friend, Mike, the sales manager of Comfy Suppliers, invoiced PG Stores at R30 000 per chair on the purchasing manager's request. The internal auditor has discovered that the chairs are trading at an actual price of R7 500 each. • Explain how the business can prevent this problem from happening in the future, excluding separation of duties. Provide TWO points. (4) • What action should be taken against the purchasing manager, besides dismissing him? Provide ONE point. (2) Copyright reserved Please turn over ### Page 6 Accounting/P2 6 DBE/November 2025 NSC Confidential INFORMATION: A. Creditors' Ledger Account of PG Stores: Creditors' Ledger of PG Stores Matsulu Suppliers Debit Credit Balance Date Details Fol. R R R 2025 1 Balance b/d 135 000 June 12 Invoice 320 162 000 14 EFT 67 500 19 Debit Note 785 13 680 20 Invoice 412 50 000 23 Invoice 471 100 500 24 Debit Note 1106 16 200 28 Invoice 681 42 000 29 EFT and discount 154 380 270 140 B. When comparing the Creditors' Ledger to the statement of account received from Matsulu Suppliers, the following differences were noted: (i) Debit Note 785 was incorrectly recorded in the Creditors' Ledger. The statement shows the correct amount of R17 280. (ii) Invoice 471 was incorrectly recorded on the statement from Matsulu Suppliers as R40 500. (iii) The transaction on 24 June 2025 in the Creditors' Ledger is for merchandise returned to Matsulu Suppliers. (iv) The statement showed interest charged at R1 080. The correct amount of interest is R1 410. No entry was made into the Creditors' Ledger. (v) The statement reflects transactions up to 25 June 2025. (vi) All other transactions recorded in the Creditors' Ledger appeared correctly in the statement of account received from Matsulu Suppliers. 40 Copyright reserved Please turn over ### Page 7 Accounting/P2 7 DBE/November 2025 NSC Confidential QUESTION 2: STOCK VALUATION (35 marks; 30 minutes) 2.1 SUPERSAVERS SUPERMARKET The following information was taken from the accounting records of Supersavers Supermarket in respect of flavoured juices (2-litre bottles) that they trade with. The first-in-first-out (FIFO) stock valuation method is applicable. The business is managed by Bryan Mills. The financial year ended on 28 February 2025. REQUIRED: 2.1.1 Calculate the value of the closing stock on 28 February 2025, using the FIFO method. (7) 2.1.2 Bryan has noticed that some of the stock of flavoured juices has exceeded their shelf life (sell-by date) of 65 days. Identify the value of stock that Bryan is referring to, using the FIFO stock valuation method. (2) 2.1.3 How can Bryan manage the stock of flavoured juices to avoid losses incurred by the business? Provide TWO points. (4) INFORMATION: A. Balances: NUMBER TOTAL DATE OF UNITS R 1 March 2024 630 28 February 2025 980 ? B. Purchases and returns during the year: NUMBER UNIT PRICE TOTAL OF UNITS R R Purchases 10 500 358 250 March–November 2024 6 900 32 220 800 December 2024 2 600 37 96 200 January 2025 150 37 5 550 February 2025 850 42 35 700 Returns 32 ? 1 344 C. Sales: 10 118 units were sold at R47 per bottle: R475 546 Copyright reserved Please turn over ### Page 8 Accounting/P2 8 DBE/November 2025 NSC Confidential 2.2 BANDURA PRINTERS Bandura Printers sells different models of printers. The business is owned by Moses Banda. Moses decided to introduce a new model (Clear View) in February 2025. The printers are valued using the specific identification method. The financial year ended on 30 June 2025. REQUIRED: 2.2.1 Rotrim model: Calculate the value of the closing stock on 30 June 2025 using the specific identification method. (4) 2.2.2 Punchies model: • Calculate the stockholding period (in days) using the closing stock. (5) • Comment on the stockholding period. Provide ONE point, with figures. The stockholding period for the year ended 30 June 2024 was 69 days. (2) 2.2.3 Clear View model: • Although the Clear View model had units returned, Moses is very pleased with his decision to introduce it as a new model. Provide TWO points (with figures) to explain why Moses is pleased. (4) • Moses wants to reduce the number of units being returned to the suppliers. Give ONE suggestion on how this can be achieved. (2) INFORMATION: A. Opening stock: NUMBER OF UNIT PRICE TOTAL DATE MODEL UNITS R R Rotrim 30 15 500 465 000 1 July 2024 Punchies 25 22 300 557 500 1 022 500 B. Purchases and returns: NUMBER OF UNIT PRICE TOTAL DATE MODEL UNITS R R Purchases: Sept. 2024 Rotrim 90 15 500 1 395 000 Nov. 2024 Punchies 110 22 300 2 453 000 Feb. 2025 Clear View 90 35 000 3 150 000 Returns: Feb. 2025 Clear View 15 35 000 (525 000) Net purchases 6 473 000 Copyright reserved Please turn over ### Page 9 Accounting/P2 9 DBE/November 2025 NSC Confidential C. Sales for the year ended 30 June 2025: NUMBER OF UNIT PRICE TOTAL MODEL UNITS R R Rotrim 79 21 700 1 714 300 Punchies 3 108 000 Clear View 65 49 000 3 185 000 Total sales 8 007 300 D. Closing stock: TOTAL DATE MODEL R Rotrim ? 30 June 2025 Punchies 780 500 Clear View 350 000 ? 2.3 MANAGEMENT OF INVENTORIES You are provided with information from the books of Madrid Electric Fans Suppliers. The business is owned by Robin Madrid. They sell electric fans and fridges to households in Middelburg. The financial year ended on 30 September 2025. REQUIRED: 2.3.1 Electric fans: • Identify the decision that Robin implemented about the electric fans. (1) • Explain how this decision had a positive result for the business. Provide ONE point, with figures. (2) 2.3.2 Fridges: Robin changed the brand of fridges that he was selling. Provide ONE point, with figures, to show that this was not a good idea. (2) INFORMATION: ELECTRIC FANS FRIDGES 2025 2024 2025 2024 Total sales R137 700 R112 000 R2 418 750 R5 161 500 Gross profit R61 200 R42 000 R806 250 R1 720 500 Selling price per unit R270 R200 R5 625 R6 975 Cost price per unit R150 R125 R3 750 R4 650 Units available for sale 750 600 960 820 Units sold 510 560 430 740 Mark-up % 80% 60% 50% 50% 35 Copyright reserved Please turn over ### Page 10 Accounting/P2 10 DBE/November 2025 NSC Confidential QUESTION 3: COST ACCOUNTING (35 marks; 30 minutes) 3.1 LOCKSMITH MANUFACTURERS The business manufactures security jackets. Their financial year ended on 28 February 2025. REQUIRED: 3.1.1 Complete the Factory Overhead Cost Note. (16) 3.1.2 Calculate the cost of production of finished goods for the year ended 28 February 2025. (4) INFORMATION: A. Extract from balances: 28 Feb. 2025 29 Feb. 2024 R R Factory equipment 5 400 000 ? Accumulated depreciation on ? 1 680 000 factory equipment Work-in-progress stock 93 000 125 000 B. Summary of totals for the year ended 28 February 2025: R Prime cost 6 025 000 Water and electricity 915 000 Insurance 78 000 Rent expense 240 400 Advertising 380 000 Other factory expenses 737 010 C. Additional information and adjustments: • 75% of the water and electricity must be allocated to the factory. The remainder must be shared equally between the other departments. • Insurance includes an additional premium of R10 800 paid for the period of 1 December 2024 to 30 November 2025. This expense is allocated between the factory and the sales department in the ratio 3 : 2. Copyright reserved Please turn over ### Page 11 Accounting/P2 11 DBE/November 2025 NSC Confidential • Locksmith Manufacturers rent their premises from Dynamic Properties at a fixed rate per m2. Due to expansion, Locksmith Manufacturers had to rent additional space for the factory only, from 1 October 2024, at the same fixed rate per m2. The following floor space was applicable for the year ended 28 February 2025: 1 Mar. 2024 to 1 Oct. 2024 to 30 Sept. 2024 28 Feb. 2025 Factory 200 m2 225 m2 Other departments 40 m2 40 m2 Total 240 m2 265 m2 • Provide for depreciation on factory equipment at 20% p.a. on the diminishing-balance method. NOTE: New factory equipment costing R684 000 was installed on 1 November 2024. This was properly recorded. 3.2 PICASO MANUFACTURERS Picaso Manufacturers is a business producing cellphone screen covers and cases. The business is owned by Dawn Mthembu. The financial year ends on 31 August each year. NOTE: Where comments or explanations are required, you should: • Quote calculations, figures and/or trends • Give a reason or an explanation in EACH case REQUIRED: CELLPHONE CASES 3.2.1 Calculate the break-even point on 31 August 2025. (4) 3.2.2 Comment on whether Dawn should be satisfied with the number of units produced and sold. Provide ONE point, with figures. (2) 3.2.3 Dawn is concerned about a fixed-cost item that has been poorly controlled, despite the decrease in fixed cost per unit in 2025. Identify the fixed-cost item (with figures) that has been poorly controlled. Give a possible reason for this concern. (3) Copyright reserved Please turn over ### Page 12 Accounting/P2 12 DBE/November 2025 NSC Confidential CELLPHONE SCREEN COVERS 3.2.4 Variable costs per unit: Identify the following: • Variable-cost item (with figures) that has been poorly controlled. Give advice on how to improve control over this cost item. (3) • Variable-cost item (with figures) that has been well controlled. Explain how this item was well controlled. (3) INFORMATION: CELLPHONE CELLPHONE CASES SCREEN COVERS 31 Aug. 31 Aug. 31 Aug. 31 Aug. 2025 2024 2025 2024 Break-even point ? 20 000 Units produced and sold 28 750 25 000 Selling price per unit R265 R250 R152 R140 Total fixed cost per unit R80 R92 R78 R63 Factory overhead cost R34 R50 R47 R38 Administration cost R46 R42 R31 R25 Total variable cost per unit R146 R135 R68 R55 Direct material cost R73 R67 R38 R24 Direct labour cost R52 R49 R20 R22 Selling and distribution cost R21 R19 R10 R9 NOTE: No workers were retrenched and no overtime was worked. 35 Copyright reserved Please turn over ### Page 13 Accounting/P2 13 DBE/November 2025 NSC Confidential QUESTION 4: BUDGETING AND PROBLEM-SOLVING (40 marks; 30 minutes) 4.1 VIVAN TRADERS Information is provided for the budget period ending 31 January 2026. REQUIRED: 4.1.1 Complete the Debtors' Collection Schedule for January 2026. (6) 4.1.2 Calculate the amounts denoted by (i) to (iv) in the extract of the Projected Statement of Comprehensive Income. (13) 4.1.3 Calculate the following for January 2026: • Cash purchases of trading stock (3) • Payments to creditors (2) 4.1.4 Calculate the amount of the fixed deposit which will mature on 31 January 2026. (4) INFORMATION: A. Sales and purchases: NOVEMBER DECEMBER JANUARY Total sales R1 925 000 R1 995 000 R2 030 000 Cost of sales R1 203 125 R1 246 875 ? • Credit sales account for 75% of total sales. • Debtors pay according to the following trends: o 30% in the month of sales, subject to a 4% discount o 50% in the month following the month of sales o 14% two months after the month of sales o The remaining amount will be written off as irrecoverable in the third month after sales. • The mark-up is 60% on cost. • Stock is replaced in the month of sales. A fixed-base stock level is maintained. • 20% of stock is bought for cash. • Creditors are paid in full in the second month after the month of purchases. Copyright reserved Please turn over ### Page 14 Accounting/P2 14 DBE/November 2025 NSC Confidential B. Extract from the Projected Statement of Comprehensive Income: Dec. 2025 Jan. 2026 R R Sales 1 995 000 2 030 000 Bad debts 78 600 (i) Salary: sales manager 29 000 (ii) Salaries: assistants (iii) 88 000 Advertising (iv) 182 700 Interest on fixed deposit 0 5 440 C. Additional information: • The sales manager is paid for 20 days per month at a fixed daily rate. She will apply for four days' unpaid leave in January 2026 to attend to personal matters. • All assistants will receive a 60% bonus in December 2026. NOTE: All assistants will receive their annual salary increase of 10% on 1 January 2026. • A fixed deposit, including the quarterly interest, will mature on 31 January 2026. The interest rate is 8% p.a., receivable quarterly. Interest is not capitalised. • Advertising is budgeted at a fixed percentage of the monthly sales. 4.2 WARMBAD TRADERS The business sells gas stoves and the information relates to the period September and October 2025. Dozer Moyo, the manager, is impressed with the performance of Warmbad Traders. The business has consistently outperformed its only competitor in the area, Woodlands Traders, due to a bigger client base and being competitive. Woodlands Traders decided to close their business in September 2025. As a result, Warmbad Traders became the only gas stove supplier in the area. REQUIRED: 4.2.1 Explain why it is important to compare the budgeted figures with the actual figures. Provide ONE point. (2) Copyright reserved Please turn over ### Page 15 Accounting/P2 15 DBE/November 2025 NSC Confidential 4.2.2 Loss of sales: • The number of units sold in October has decreased. Give a reason, with figures, for this decrease. (2) • Provide a calculation to show the amount of cash that was lost in October 2025 sales when compared to September 2025 sales. (2) 4.2.3 State TWO benefits that Warmbad Traders will forfeit by failing to meet its financial obligations with suppliers in October 2025. (2) 4.2.4 Remuneration to employees: • Give ONE reason for Dozer awarding his employees with commission during September 2025. Quote figures. (2) • Give ONE reason why the employees will not be satisfied with the revised remuneration policy. Quote figures. (2) INFORMATION: A. Extract from the Cash Budget: Sept. 2025 Oct. 2025 BUDGETED ACTUAL BUDGETED ACTUAL R R R R Collection from debtors 95 456 95 456 97 784 97 784 Payments to creditors 320 000 306 000 306 000 61 200 Salaries 38 400 38 400 27 000 27 000 Commission on sales 0 3 900 4 500 4 500 Cash surplus/deficit 63 800 98 950 80 120 (72 400) Opening balance 103 000 120 000 166 800 218 950 Closing balance 166 800 218 950 246 920 146 550 Units sold 90 124 90 61 Selling price per unit R1 600 R1 600 R2 480 R2 480 B. Additional information: • The business budgets to sell 90 stoves per month. • Creditors are paid one month after purchase, subject to a 4% discount. • The business has three employees. • Dozer decided to introduce commission on sales and from October 2025 onwards, a reduced monthly salary. 40 TOTAL: 150 Copyright reserved ### Page 16 Accounting/P2 DBE/November 2025 NSC Confidential GRADE 12 ACCOUNTING FINANCIAL INDICATOR FORMULA SHEET Gross profit x 100 Gross profit x 100 Sales 1 Cost of sales 1 Net profit before tax x 100 Net profit after tax x 100 Sales 1 Sales 1 Operating expenses x 100 Operating profit x 100 Sales 1 Sales 1 Total assets : Total liabilities Current assets : Current liabilities (Current assets – Inventories) : Current liabilities Non-current liabilities : Shareholders' equity (Trade & other receivables + Cash & cash equivalents) : Current liabilities Average trading stock x 365 Cost of sales . Cost of sales 1 Average trading stock (See Note 1 below.) Average debtors x 365 Average creditors x 365 Credit sales 1 Cost of sales 1 (See Note 2 below.) Net income after tax x 100 Net income after tax x 100 Number of issued shares 1 Average shareholders' equity 1 (See Note 3 below.) Net income before tax + Interest on loans x 100 Average shareholders' equity + Average non-current liabilities 1 Shareholders' equity x 100 Dividends for the year x 100 Number of issued shares 1 Number of issued shares 1 Interim dividends x 100 Final dividends x 100 Number of issued shares 1 Number of issued shares 1 Dividends per share x 100 Dividends for the year x 100 Earnings per share 1 Net income after tax 1 Total fixed costs . Selling price per unit – Variable costs per unit NOTE: 1. Trading stock at the end of a financial year may be used if required in a question. 365 days is applicable only if relevant to the whole year. 2. Credit purchases may be used instead of cost of sales (figures will be the same if stock is constant). 3. If there is a change in the number of issued shares during a financial year, the weighted-average number of shares is used in practice. 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