# Accounting Grade 12 P2 NSC November Mock 2026 QP (Eng) > Grade 12 Accounting Paper 2 question paper from the NSC November Mock Exam 2026 (English), 10 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/grade-12-accounting-2026-nsc-november-mock-exam-question-paper-paper-2/7fb8326c-3034-4abe-9d6b-6f344827f9d0 - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 12 - Language: English - Document type: Question paper - Year: 2026 - Exam period: NSC November Mock Exam - Paper: 2 - Publisher: Hlayiso - Curriculum: CAPS - Pages: 10 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 Mock 2026 QP (Eng)](https://www.hlayiso.com/library/grade-12-accounting-2026-nsc-november-mock-exam-question-paper-paper-2/7fb8326c-3034-4abe-9d6b-6f344827f9d0) ## About this document Accounting · Grade 12 · NSC November Mock Exam · 2026 · English. Question paper, 10 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 12 NSC Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING P2 MOCK EXAMINATION 2026 MARKS: 150 TIME: 2 hours This question paper consists of 10 pages 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. Show ALL workings to earn part-marks. 4. You may use a non-programmable calculator. 5. You may use a dark pencil or blue/black ink to answer the questions. 6. Where applicable, show ALL calculations to ONE decimal point. 7. Write neatly and legibly. 8. 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 and VAT 40 30 2 Inventory Valuation 35 30 3 Cost Accounting 35 30 4 Budgeting 40 30 TOTAL 150 120 Copyright reserved Please turn over ### Page 3 Accounting/P2 3 Hlayiso/Mock 2026 NSC Mock QUESTION 1: RECONCILIATIONS AND VAT (40 marks; 30 minutes) 1.1 BANK RECONCILIATION You are provided with information relating to Masego Stores for February 2026. REQUIRED: 1.1.1 Calculate the correct balance of the Bank account in the General Ledger on 28 February 2026. (9) 1.1.2 Prepare the Bank Reconciliation Statement on 28 February 2026. (6) 1.1.3 Refer to item (c). Explain why cheque no. 389 must be cancelled, and give ONE internal control measure to prevent stale cheques. (3) INFORMATION: (a) The Bank account in the General Ledger showed a favourable balance of R18 450 on 28 February 2026, after the Cash Receipts Journal (CRJ) and the Cash Payments Journal (CPJ) had been posted. (b) The following entries appeared on the bank statement for February 2026, but not in the journals: • Bank charges, R645 • A debit order for insurance, R1 850 • An EFT from a debtor, N Dube, R3 400 • A cheque of R2 200 received from a debtor, T Botha, was dishonoured (R/D) (c) Cheque no. 389 for R2 100, issued on 10 August 2025, has not yet been presented for payment. (d) Cheque no. 418 for R7 250 was recorded in the CPJ for February 2026, but is dated 20 March 2026. (e) Cheque no. 405 was correctly issued for R3 560 but was recorded in the CPJ as R3 650. (f) Cheque no. 412 for R4 800, issued on 15 February 2026, does not appear on the bank statement. (g) A deposit of R12 600 made on 28 February 2026 does not appear on the bank statement. 1.2 CREDITORS’ RECONCILIATION Masego Stores buys stock on credit from Rapid Wholesalers. On 28 February 2026, the account of Rapid Wholesalers in the Creditors’ Ledger showed a balance of R18 640, while the statement received from Rapid Wholesalers showed a balance of R25 985. 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. (10) 1.2.2 Give ONE control measure that Masego Stores should use to prevent errors when recording returns. (2) Copyright reserved Please turn over ### Page 4 Accounting/P2 4 Hlayiso/Mock 2026 NSC Mock INFORMATION: (a) An invoice for goods of R4 200, delivered on 27 February 2026, was recorded in the Creditors’ Journal for March 2026. (b) An EFT payment of R3 500 made on 27 February 2026 does not appear on the statement. (c) A discount of R180 shown on the statement was not recorded by Masego Stores. (d) Goods returned to Rapid Wholesalers of R960 were recorded in the books of Masego Stores as R690. (e) Interest of R95 charged on an overdue amount appears on the statement. Masego Stores accepts this charge. 1.3 VALUE-ADDED TAX (VAT) The following VAT amounts relate to Masego Stores for the two-month VAT period ended 28 February 2026: R VAT on sales 186 300 VAT on purchases of stock and expenses 124 650 VAT on goods returned by debtors 2 850 VAT on bad debts written off 1 260 VAT on goods taken by the owner for personal use 450 REQUIRED: 1.3.1 Calculate the amount payable to SARS for the VAT period. (6) 1.3.2 The owner suggests that the business should claim input VAT on the furniture that he bought for his private home. Explain why this is unethical, and state ONE possible consequence for the business. (4) Copyright reserved Please turn over ### Page 5 Accounting/P2 5 Hlayiso/Mock 2026 NSC Mock QUESTION 2: INVENTORY VALUATION (35 marks; 30 minutes) SNEAKER HUB Sneaker Hub sells two models of sneakers, Runner X and Court Classic. The financial year ended on 28 February 2026. The business uses the periodic inventory system. REQUIRED: 2.1 Choose the correct word from the list to complete EACH statement. Write only the word next to the question numbers (2.1.1 to 2.1.3) in the ANSWER BOOK. FIFO; weighted average; specific identification; perpetual (3) 2.1.1 The method in which the cost of the goods bought first is allocated to the goods sold first 2.1.2 The method best suited to unique, high-value items such as motor vehicles 2.1.3 The method in which the total cost of goods available for sale is divided by the number of units available 2.2 RUNNER X (weighted-average method) 2.2.1 Calculate the value of the closing stock of Runner X on 28 February 2026. (5) 2.2.2 Calculate the number of pairs of Runner X that are missing. (4) 2.2.3 Calculate the gross profit made on Runner X for the year. (4) 2.2.4 Calculate the stock holding period (in days) for Runner X. (4) 2.2.5 The owner believes that the missing pairs were stolen by employees. Give TWO internal control measures that he could put in place. (4) 2.3 COURT CLASSIC (FIFO method) 2.3.1 Calculate the value of the closing stock of Court Classic on 28 February 2026. (5) 2.3.2 Explain why FIFO results in a higher closing stock value than the weighted-average method when purchase prices are rising. (2) 2.4 The owner is considering discontinuing Court Classic. Use the information to advise him. Give TWO points with figures. (4) INFORMATION: Copyright reserved Please turn over ### Page 6 Accounting/P2 6 Hlayiso/Mock 2026 NSC Mock A. Runner X: Pairs Unit price (R) Total (R) Stock on 1 March 2025 120 650 78 000 Purchases: 730 508 600 15 June 2025 300 680 204 000 10 October 2025 250 700 175 000 20 January 2026 180 720 129 600 Returns to supplier (20 Jan. 10 720 7 200 purchase) Carriage on purchases 8 600 Stock on 28 February 2026 140 ? (physical count) • 690 pairs of Runner X were sold during the year at R1 100 per pair. B. Court Classic: Pairs Unit price (R) Total (R) Stock on 1 March 2025 60 900 54 000 Purchases: 18 August 2025 200 950 190 000 5 December 2025 150 980 147 000 12 February 2026 100 1 000 100 000 Stock on 28 February 2026 130 ? • Court Classic sells at R1 300 per pair. 380 pairs were sold during the year. • Runner X: mark-up achieved 57%; stock holding period: see 2.2.4. • Court Classic: mark-up achieved 36,6%; stock holding period: 92,6 days. Copyright reserved Please turn over ### Page 7 Accounting/P2 7 Hlayiso/Mock 2026 NSC Mock QUESTION 3: COST ACCOUNTING (35 marks; 30 minutes) NTOMBI FURNITURE Ntombi Furniture manufactures school desks. The financial year ended on 28 February 2026. REQUIRED: 3.1 Indicate whether EACH of the following is a direct cost, an indirect cost (factory overhead) or a selling and distribution cost. Write only the answer next to the question numbers (3.1.1 to 3.1.3) in the ANSWER BOOK. (3) 3.1.1 Salary of the factory foreman 3.1.2 Wood used to make desks 3.1.3 Commission paid to sales representatives 3.2 Calculate the direct material cost. (5) 3.3 Calculate the direct labour cost. (4) 3.4 Prepare the Factory Overhead Cost Note. (8) 3.5 Prepare the Production Cost Statement for the year ended 28 February 2026. (6) 3.6 Calculate the unit cost of production. (2) 3.7 Break-even analysis 3.7.1 Calculate the break-even point for the year. (4) 3.7.2 Comment on the break-even point in relation to the number of desks produced and sold. (3) INFORMATION: A. Balances: 28 Feb. 2026 1 March 2025 R R Raw materials stock 102 000 84 000 Work-in-process stock 38 000 45 000 B. Raw materials: Purchases R1 260 000; carriage on raw materials R36 000; raw materials returned to suppliers R18 000. C. Factory workers: Basic wages R900 000; overtime wages R36 000. The employer contributes 9% of the basic wages to the pension fund and UIF on behalf of the factory workers. Copyright reserved Please turn over ### Page 8 Accounting/P2 8 Hlayiso/Mock 2026 NSC Mock D. Other costs for the year: Item Total (R) Apportionment Indirect materials (glue, screws, 48 000 100% factory sandpaper) Rent 240 000 Floor area: factory 750 m2 ; office 250 m2 Depreciation on factory equipment 62 000 100% factory Water and electricity 150 000 80% factory; 20% office Salary of factory foreman 216 000 100% factory Insurance 60 000 60% factory; 40% office E. Production and sales: • 4 910 desks were produced and 4 850 desks were sold during the year at R950 each. • Total fixed costs for the year (factory overheads and administration costs): R950 000. • Variable cost per desk (direct material, direct labour and selling costs): R490. Copyright reserved Please turn over ### Page 9 Accounting/P2 9 Hlayiso/Mock 2026 NSC Mock QUESTION 4: BUDGETING (40 marks; 30 minutes) MPHO’S BOUTIQUE Mpho’s Boutique sells clothing. The owner is preparing a cash budget for March to May 2026. REQUIRED: 4.1 Indicate whether EACH of the following items will appear in the Cash Budget (CB), the Projected Statement of Comprehensive Income (PI) or BOTH. (3) 4.1.1 Depreciation 4.1.2 Rent paid 4.1.3 Repayment of the loan (capital portion) 4.2 Complete the Debtors’ Collection Schedule for March to May 2026 in the ANSWER BOOK. (8) 4.3 Calculate the following amounts for the Cash Budget: 4.3.1 Payments to creditors in April 2026 (4) 4.3.2 Salaries in May 2026 (3) 4.3.3 Rent in April 2026 (3) 4.4 Refer to Information F (actual results for March 2026). 4.4.1 Calculate the percentage by which actual cash sales were below the budgeted amount. (3) 4.4.2 Mpho spent much more on advertising than budgeted. Explain whether this decision was effective. Quote figures. (3) 4.4.3 Explain why the receipts from debtors were lower than budgeted, and give ONE suggestion to improve the collection from debtors. (4) 4.5 Refer to Information G. 4.5.1 Calculate the projected bank balance on 31 May 2026. (4) 4.5.2 Mpho wants to buy a delivery vehicle for R420 000 cash in May 2026. Advise him, quoting figures, and suggest an alternative way to acquire the vehicle. (5) INFORMATION: A. Sales (actual and budgeted): January February March April May Total sales (R) 600 000 640 000 700 000 660 000 720 000 • 40% of sales are for cash and 60% are on credit. • Debtors are expected to pay as follows: 50% in the month of sale, 35% in the month after the sale and 12% two months after the sale. The rest is written off as bad debts. Copyright reserved Please turn over ### Page 10 Accounting/P2 10 Hlayiso/Mock 2026 NSC Mock B. Purchases of stock: The business uses a mark-up of 60% on cost. Stock sold is replaced in the same month. 50% of purchases are paid in the month of purchase and 50% in the following month. C. Salaries: Three employees each earn R18 000 per month. They will receive an increase of 6% from 1 May 2026. D. Rent: The monthly rent of R45 000 will increase by 8% from 1 April 2026. E. Loan: R20 000 is repaid on the loan each month. Interest of R5 500 per month is paid in cash. F. Budgeted and actual figures for March 2026: Budgeted (R) Actual (R) Cash sales 280 000 238 000 Receipts from debtors 387 600 352 000 Advertising 18 000 42 000 Payments to creditors 418 750 455 000 G. Projected figures: • The projected bank balance on 30 April 2026 is R112 000 (favourable). • Other cash payments in May 2026 are expected to be R96 000. • The bank has approved an overdraft limit of R50 000. 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