Accounting Grade 12 P2 NSC November Prediction 2026 Memo

hlayiso mock exams Practice Series: Grade 12 NSC Preparation WWW.HLAYISO.COM NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING P2 PREDICTION EXAMINATION 2026 MARKING GUIDELINES MARKS: 150 These marking guidelines consist of 12 pages. Copyright reserved Please turn over

Accounting/P2 2 Hlayiso/Prediction 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 penalty for a misplaced item). No double penalty is applied. 2. Penalties for placement or poor presentation (e.g. details) 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. If a pre-adjustment figure is shown as a final figure, allocate the part-mark as a working mark for that figure (not the method mark for the answer). 5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. If no sign or bracket is shown, assume that the figure is positive. 6. If candidates provide more than the required number of responses, inspect all responses to give the benefit to the candidate. 7. Where method marks are awarded for an operation, the marker must inspect the reasonableness of the answer. 8. ‘One part correct’ means the operation is correct and at least one part of the workings is correct. Do not award marks for workings if the numerator and denominator are swapped. 9. Be aware of candidates who provide valid alternatives beyond these marking guidelines. Consistent accuracy (CA) applies where a candidate uses his/her own incorrect figure from an earlier part. 10. ✓ = 1 mark. ⊡ = one part correct (method mark for an answer that is not a stand-alone figure). Copyright reserved Please turn over

Accounting/P2 3 Hlayiso/Prediction 2026 NSC – Marking Guidelines QUESTION 1 1.1.1 False ✓ 1.1 1.1.2 True ✓ 3 1.1.3 True ✓ 1.2.1 Correct totals of the Cash Journals on 31 August 2026 CRJ CPJ Provisional totals 184 300 157 640 EFT 214 recorded incorrectly in July (6 520 – 6 250) 270 ✓ Service fees 815 ✓ Interest on the favourable bank balance 140 ✓ Debit order: Safeguard Insurance 2 450 ✓ Debit order: Peak Fitness Club (drawings) 1 980 ✓ Direct deposit: P Ndlovu 8 600 ✓ Rent income: T Moloi 4 000 ✓ EFT 233 overstated (4 300 – 3 400) (900) ✓ Correct totals 197 040 162 255 8 EFT 233: accept R900 in the CRJ instead of –R900 in the CPJ (totals then 197 940 and 163 155). The deposit of R5 600 (bank error) must NOT appear in the Cash Journals: –1 mark (foreign item) if shown, but only if the candidate is earning marks elsewhere. Amounts must be in the correct column. Copyright reserved Please turn over

Accounting/P2 4 Hlayiso/Prediction 2026 NSC – Marking Guidelines 1.2.2 WORKINGS ANSWER 42 380 ✓ + 197 040 – 162 255 ✓ (see 1.2.1) 77 165 ⊡ 3 OR 42 380 + 197 940 – 163 155 (favourable) 1.2.3 BANK RECONCILIATION STATEMENT ON 31 AUGUST 2026 DEBIT CREDIT Credit balance according to the Bank Statement 70 495 ✓ Credit outstanding deposit (31 August 2026) 21 750 ✓ Debit outstanding EFT 236 9 480 ✓ Debit deposit incorrectly credited by the bank (Lethabo 5 600 ✓✓ Hair Salon) Debit balance according to the Bank account see 1.2.2 77 165 ✓ 92 245 92 245 6 Accept the alternative layout (Bank Statement balance adjusted to the Bank account balance, or vice versa) with correct signs. The R5 600: one mark for the amount and one mark for the correct side/sign. Do NOT accept EFT 214, EFT 219 or the July deposit as outstanding items. 1.2.4 Any TWO problems with figures ✓ ✓, each with a suitable solution ✓ ✓: – Problem: business money used for the owner’s private expenses: gym membership R1 980 paid by debit order. Solution: Lethabo must pay personal expenses from a private account; if paid by the business, record it as drawings with proper authorisation. – Problem: errors in recording EFTs: EFT 214 under-recorded by R270; EFT 233 over-recorded by R900. Solution: a second person must check EFTs against invoices/proof of payment before they are recorded. – Problem: bank error not noticed: the R5 600 deposit of another client 4 was credited to the account. Solution: check the bank statement/online banking regularly and report errors to the bank immediately. – Problem: receipts not recorded promptly: EFT from P Ndlovu R8 600 and rent R4 000 were not in the CRJ (accept only if the candidate links it to the need to check online banking/proof of payment daily). Solution: check online banking daily; debtors and tenants must send proof of payment. Do not award marks for a solution that does not relate to the problem identified. Copyright reserved Please turn over

Accounting/P2 5 Hlayiso/Prediction 2026 NSC – Marking Guidelines 1.3.1 WORKINGS ANSWER 11 400 + 17 300 ✓ 100 × 27,3% ⊡ 105 000 ✓ 1 3 76 300 100 OR 100% – × (72,7%) 105 000 1 1.3.2 Any TWO different problems, each with the name of the debtor ✓ and figures ✓: – N Cele has exceeded the credit limit of R20 000 by R6 750 (balance R26 750), but was still allowed to buy on credit (R6 000 in the current month). – N Cele owes R15 800 (R7 300 + R8 500) that is older than 60 days. – T Mabuza’s full balance of R12 900 is overdue (R8 800 older than 90 days); no purchases or payments in the past two months – the amount 4 may become irrecoverable. Note: 27,3% of the balances do not keep to the credit terms against a target of 15% – accept as a general comment, but a debtor must be named to earn both marks. Two different problems may relate to the same debtor (e.g. N Cele credit limit AND N Cele overdue R15 800); award full marks if the problems are different. 1.4.1 NO. CALCULATIONS VAT EFFECT ON VAT AMOUNT PAYABLE E.g. 4 000 × 15/100 R600 Increase A. (92 000 – 12 000) × 15/100 12 000 ⊡ Increase ✓ 80 000 ✓ × 15/100 B. 6 900 × 15/115 900 ✓ Decrease ✓ C. 2 760 × 15/115 360 ✓ Increase ✓ 7 A: if the zero-rated R12 000 is not excluded (13 800), award the effect mark only. Accept + for increase and – for decrease. 1.4.2 Unethical ✓ (any ONE): VAT collected from customers belongs to SARS; not recording sales is tax evasion/fraud; it gives a false picture of the income of the business. Consequence ✓ (any ONE): SARS audit; penalties and interest on the 2 unpaid VAT; criminal prosecution of the owner; loss of reputation/VAT registration. TOTAL MARKS 40 Copyright reserved Please turn over

Accounting/P2 6 Hlayiso/Prediction 2026 NSC – Marking Guidelines QUESTION 2 2.1.1 WORKINGS ANSWER 72 000 + 846 000 ✓ − 10 750 ✓ + 25 500 ✓ 932 750 = = 114 800 ⊡ 400 + 4 200 − 50 ✓ 4 550 5 R205 560 × R205 Numerator and denominator are marked separately. Carriage on purchases must be included and the returns deducted from both the cost and the units. 2.1.2 WORKINGS ANSWER 3 (400 + 4 200 – 50) 4 550 ✓ – 3 900 ✓ – 560 90 lanterns ⊡ 2.1.3 Any TWO internal control measures, explained ✓✓ ✓✓: – Division of duties: different people must receive deliveries, issue stock and count stock. – Stock counts must be done (also by surprise) by an independent person and compared with the records. – Use goods-received notes and signed stock requisitions for every issue 4 to the shop floor. – Restrict access to the storeroom (keys/access cards); install cameras; rotate the duties of staff. Part-marks for partial or unclear answers. 2.2.1 WORKINGS ANSWER Closing units: 120 + 1 150 – 1 030 = 240 ✓ 400 000 ⊡ 4 200 × R1 680 ✓ = 336 000 40 × R1 600 ✓ = 64 000 Copyright reserved Please turn over

Accounting/P2 7 Hlayiso/Prediction 2026 NSC – Marking Guidelines 2.2.2 WORKINGS ANSWER Cost of sales: 174 000 + 1 810 000 – 400 000 = 1 584 66,1 days ⊡ 000 ✓ 2 (174 000 + 400 000) ✓✓ 1 4 365 × 1 584 000 1 287 000 365 = × 1 584 000 1 CA: use the closing stock from 2.2.1. If closing stock is used instead of average stock (92,2 days), award the cost-of-sales mark and the method mark only. 2.2.3 Comment ✓✓: The stockholding period increased by 18,1 days, from 48 days to 66,1 days. Solar panels are selling more slowly; more cash is tied up in stock and there is a greater risk of damage or of the panels becoming outdated. 3 Suggestion ✓ (any ONE): buy smaller quantities more often; run promotions/advertise; review the selling price; negotiate sale-or-return terms with the supplier. Copyright reserved Please turn over

Accounting/P2 8 Hlayiso/Prediction 2026 NSC – Marking Guidelines 2.3.1 WORKINGS ANSWER VoltMate 600: (12 + 60 – 58) 14 × R4 800 = 67 200 ✓ 432 000 ⊡ VoltMate 1200: (8 + 45 – 6 – 39) 8 ✓ × R8 600 = 68 5 800 ✓ PowerHub 2400: (5 + 20 – 9) 16 × R18 500 = 296 000 ✓ 2.3.2 Any TWO points with figures ✓✓ ✓✓: – Poor quality: 6 units were returned as faulty in 2026 (none in 2025). – Customer complaints increased from 2 to 17; this damages the reputation of the business. – Units sold decreased from 44 to 39 (5 units or 11,4%). – Gross profit decreased by R31 280 (from R165 440 to R134 160), even 4 though the cost price was R800 per unit cheaper. – Selling price dropped by R1 120 (R13 160 to R12 040) because the 40% mark-up is on a lower cost; gross profit per unit fell from R3 760 to R3 440 (R320). Award one mark for the point and one mark for the supporting figures. 2.3.3 Effect ✓✓ (ONE point with figures): Units sold dropped from 21 to 9 (57,1%); gross profit fell by R49 950 (from R116 550 to R66 600) despite the higher mark-up; 16 units (R296 000) are now held in stock – slow-moving stock ties up cash. 3 Advice ✓ (any ONE): return to the 30% mark-up (competitive price); run a promotion to clear the stock; stop ordering this model until the stock is sold. TOTAL MARKS 35 Copyright reserved Please turn over

Accounting/P2 9 Hlayiso/Prediction 2026 NSC – Marking Guidelines QUESTION 3 3.1.1 WORKINGS ANSWER 184 000 + 2 280 000 ✓ + 56 400 ✓ – 38 200 ✓ – 166 2 316 200 4 000 ✓ 3.1.2 WORKINGS ANSWER Basic wages: 8 × 40 × 50 × R75 = 1 200 000 ✓ 1 483 800 Overtime: 1 600 × (R75 × 1,5) R112,50 ✓ = 180 000 ✓ 5 Pension fund: 7,5% × 1 200 000 = 90 000 ✓ UIF: 1% × 1 380 000 = 13 800 ✓ 3.1.3 FACTORY OVERHEAD COST NOTE Indirect materials 46 800 ✓ Salary of the factory foreman 312 000 ✓ Rent (429 000 × 12/13 ✓✓ = 396 000 × 1 500/2 000 ✓) 297 000 Water and electricity (264 000 × 80%) 211 200 ✓ Depreciation on factory equipment 193 000 (1 850 000 × 10% = 185 000 ✓; 240 000 × 10% × 4/12 = 8 000 ✓) TOTAL 1 060 000 ⊡ 9 Rent: accept 429 000 – 33 000 (one month) = 396 000 for the two marks. If 429 000 × 75% = 321 750: award one mark for the 75% only. Depreciation on the new machine: 4 months (March to June). 3.1.4 WORKINGS ANSWER 2 316 200 + 1 483 800 ✓ + 1 060 000 ✓ = 4 860 000 4 840 000 ⊡ 4 4 860 000 + 96 500 – 116 500 ✓ CA from 3.1.1 to 3.1.3. Work-in-process: one mark for both figures with the correct signs. Copyright reserved Please turn over

Accounting/P2 10 Hlayiso/Prediction 2026 NSC – Marking Guidelines 3.2.1 WORKINGS ANSWER 1 656 000 ✓ 1 656 000 4 = 1 200 units ⊡ 4 200 ✓ − 2 820 ✓ 1 380 3.2.2 ✓✓ The business produced above the break-even point in both years. In 2026 it produced 300 units more than the BEP (1 500 vs 1 200), compared with 230 units (1 380 vs 1 150) in 2025. Although the BEP 2 increased by 50 units, production increased by 120 units, so the margin of safety (and profit) improved. 3.2.3 Direct material cost ✓. It increased by R140 per unit (9,1%), from R1 540 to R1 680, which is higher than the inflation rate of 5% ✓. Note: direct labour (5,1%) is in line with the 5% wage increase; selling and distribution decreased by R10 per unit. Any TWO ways ✓ ✓: obtain quotations from different suppliers/negotiate 4 bulk discounts; reduce wastage through training and cutting plans; improve control over raw materials in the storeroom (prevent theft); use a cheaper material of the same quality. 3.2.4 WORKINGS ANSWER Contribution per unit: 4 200 – 2 820 = 1 380 ✓ 100 wardrobes 3 138 000 ✓ / 1 380 ⊡ TOTAL MARKS 35 Copyright reserved Please turn over

Accounting/P2 11 Hlayiso/Prediction 2026 NSC – Marking Guidelines QUESTION 4 4.1.1 PSCI ✓ 4.1 4.1.2 CB ✓ 3 4.1.3 BOTH ✓ 4.2.1 WORKINGS ANSWER 3 520 000 × 100/160 ✓ = 325 000 × 75% ✓ 243 750 ⊡ 4.2.2 CREDITORS’ PAYMENT SCHEDULE MONTH CREDIT PURCHASES NOVEMBER DECEMBER September 225 000 67 500 ✓ October 243 750 163 800 ✓✓ 73 125 ✓ November 262 500 ✓ 176 400 ✓ TOTAL 231 300 249 525 ⊡ 7 October payment: 243 750 × 70% × 96% (two marks; one mark if the discount is ignored: 170 625). CA on October credit purchases from 4.2.1. November credit purchases: 560 000 × 100/160 × 75%. Copyright reserved Please turn over

Accounting/P2 12 Hlayiso/Prediction 2026 NSC – Marking Guidelines 4.3 WORKINGS ANSWER (i) 130 000 / 5 = 26 000 ✓ × 1,06 = 27 560 ✓ 216 200 27 560 × 5 × 150% = 206 700 ✓ + 9 500 ✓ OR 130 000 × 1,06 × 1,5 + 9 500 (ii) (600 + 150) × R65 ✓ × 1,08 ✓ 52 650 ⊡ 13 OR 750 × R70,20 (iii) (480 000 – 96 000) ✓ × 13,5% × 1/12 ✓ 4 320 ⊡ (iv) 240 000 ✓ + (240 000 × 8,5% × 1/12) 1 700 ✓ 241 700 ⊡ (i): marks are for the monthly salary, the increase, the bonus and the temporary packer. (iv): if interest for four months is added (246 800), award the mark for 240 000 only. 4.4.1 Any TWO effects with figures ✓✓ ✓✓: – Fewer customers: 325 instead of the budgeted 400 (75 fewer, 18,8%). – Sales were R80 000 (13,3%) below the budget (R520 000 instead of R600 000); gross profit lost: R80 000 × 60/160 = R30 000. – Pressure to match the competitor’s free delivery: deliveries 250 vs 4 budget 240 despite 75 fewer customers, increasing delivery costs (R31 250 vs R24 000). Note: accept fewer customers (325 vs 400) and lower sales (R520 000 vs R600 000 / lost GP R30 000) as two different effects. 4.4.2 ✓✓✓ Advertising was cut by R9 000 (50%) at the very time that a new competitor opened. The business became less visible and lost 75 customers and R80 000 in sales (about R30 000 gross profit) – far more than the R9 000 saved. Advertising should have been increased to 3 compete. Award marks for the explanation and the supporting figures. 4.4.3 Poorly controlled ✓. Delivery expenses were R7 250 (30,2%) more than budgeted ✓, although the number of deliveries increased by only 10 (4,2%). The cost per delivery increased from R100 (24 000/240) to R125 3 (31 250/250) ✓. 4.5 Palesa should NOT buy the vehicle for cash ✓. The overdraft would increase to R481 995 (101 995 + 380 000) ✓, which exceeds the approved limit of R150 000 by R331 995 ✓. Alternative ✓ (any ONE): buy the vehicle on an instalment-sale agreement 4 or with a loan; lease/rent a vehicle; use a delivery service/courier; postpone the purchase until the cash position improves; buy a cheaper second-hand vehicle. TOTAL MARKS 40 TOTAL: 150 Copyright reserved