# Accounting Grade 10 Limpopo June 2024 Paper & Memo > Grade 10 Accounting question paper and memo from the Limpopo June Exam 2024, 28 pages. Read online or get the free PDF download. - Page: https://www.hlayiso.com/library/lp-accounting-grade-10-june-2024-qp-and-memo/3fefa3e9-a482-4e05-b6da-c6861d627fe1 - Updated: 2026-09-27 - Subject: Accounting - Grade: Grade 10 - Document type: Question paper and memo - Year: 2024 - Exam period: Limpopo June Exam - Curriculum: CAPS - Pages: 28 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 10](https://www.hlayiso.com/library/grade-10) › [Accounting](https://www.hlayiso.com/library/grade-10/accounting) › [Accounting Grade 10 Limpopo June 2024 Paper & Memo](https://www.hlayiso.com/library/lp-accounting-grade-10-june-2024-qp-and-memo/3fefa3e9-a482-4e05-b6da-c6861d627fe1) ## About this document Accounting · Grade 10 · Limpopo June Exam · 2024. Question paper and memorandum, 28 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 Downloaded from hlayiso.com Downloaded f rom St anmorephysics. com NATIONAL SENIOR CERTIFICATE GRADE 10 ACCOUNTING MID-YEAR EXAM JUNE 2024 TERM 2 SBA TASK 4 TOTAL: 200 DURATION: 2 ½ hours This question paper consists of 09 pages and answer book ### Page 2 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 INSTRUCTIONS Read the following instructions carefully and follow them precisely. 1. Answer ALL 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, blue/black ink to answer questions 7. Where applicable show all calculations to one decimal point 8. Write neatly and legibly 9. Use information in the table below as a guide when answering the question paper. Try NOT to deviate from it. QUESTION TOPIC MARKS TIME 1 Accounting Concepts, Accounting 44 33 minutes Equation & Analysis of transactions 2 General Journal 23 17 minutes 3 General Ledger & Internal Control 44 33 minutes 4 Creditors Reconciliation & Internal Control 39 29 minutes 5 Salaries & Wages 50 38 minutes TOTAL 200 150 minutes 2|Page ### Page 3 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 QUESTION - 1 ACCOUNTING CONCEPTS & ANALYSIS OF TRANSACTIONS 1.1 Match the information in COLUMN A to the term in COLUMN B. Write only the letter (A – G) in your ANSWER BOOK. (5) COLUMN A COLUMN B The management of a business should treat 1.1.1 employees equally regardless of their A Business Principles positions. Assets that are convertible into cash within 1.1.2 B Fixed deposit a period of 12 months. Commonly accepted guidelines that are 1.1.3 followed when financial records are C Fairness prepared for reporting. A summary of balances and totals extracted 1.1.4 D Current assets from all the ledger accounts of a business. E Trial balance 1.1.5 An example of a non-current asset. F General ledger G GAAP 1.2 The transactions below appeared in the books of Waterkloof Traders for the month of March 2023. Waterkloof Traders uses 80% mark up on cost price. REQUIRED: (39) Use the information of Waterkloof Traders to flow the effect of each transaction on the Accounting Equation for March 2023 Transactions Bought goods on credit from AB Traders for R10 800 less 10% trade 01 discount. Paid R450 out of the petty cash to Parcels R Us for goods delivered 07 to a debtor, J Donovan. The amount must be debited to his account. 16 Sold goods on credit to K. Moss for R4 500 and issued an invoice. A printer bought on credit for office use for R2 400 from XY Printing in February 2023 had a defect (was faulty). After consultation with XY 19 Printing, the printer was returned to them. No transaction was recorded. A credit note of R1200 was issued to K.Moss for returns of some of 21 the goods bought on 16 March 2023. The goods were not returned to the store room as they were totally damaged. Received R3 400 from R. Bond (a debtor) in settlement of her account 25 of R3 500. A loan repayment of R44 000 to Investec Bank included an interest 31 of 10% per annum for one year. Funds were paid via EFT. [ 44 ] 3|Page ### Page 4 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 QUESTION 2 – GENERAL JOURNAL The information for December 2022 presented below is taken from the books of The Adventure Apparel REQUIRED: Record the transactions in the General Journal for December 2022, and close off the journal properly. NOTE: Narrations are not required. (23) INFORMATION: Transactions on 31 December 2022: • A debtor, C Stokes, who owes R2 400, was declared insolvent. His estate paid 40c in the rand. (This has been recorded in the books of the business.) The remainder must be written off as irrecoverable. • Transfer a debit balance of R280 in the account of M. Maxwell from the Debtors’ Ledger to his account in the Creditors’ Ledger. M. Maxwell is both a customer and supplier to The Adventure Apparel • The owner took trading stock at a cost price of R1 200. The transaction was not recorded yet. • The business received an amount for R35 000 from ABSA Bank via EFT for a fixed deposit that matured on 31 December 2022. Included in the amount is interest on fixed deposit of R3 000. The total amount of R35 000 has been credited to the Fixed Deposit Account. Correct the error. • Goods returned by J Yates (a debtor) as per credit note for R280, was incorrectly posted to the account of J Young (a debtor). • Charged interest of 6% per annum for three months to the overdue account of K. Patton, he owes the business R6 800. [23] 4|Page ### Page 5 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 QUESTION 3 – GENERAL LEDGER AND INTERNAL CONTROL The following information was extracted from the books of Nooks & Crannies Cleaning for the year ending 28 February 2023. The business uses 100% mark up on cost. REQUIRED: 3.1 Complete and balance the following accounts in the General Ledger for February 2023: • Debtors’ Control Account (10) • Trading Stock Account (16) • Stationery (08) (34) 3.2 The owner noticed that some debtors do not comply with the credit terms as part of their contractual agreement with the business. 3.2.1 Explain the meaning of the concept credit term. (2) 3.2.2 Provide TWO measures that can be implemented by the business to encourage early payments. (4) 3.3 The owner suspects that the stock has been stolen during the year. He has asked you for advice on internal controls he could implement to prevent stock from being stolen. List TWO internal controls to safeguard stock. (4) INFORMATION: Totals from Subsidiary Journals for February 2023 Cash Receipts Journal Cash Payments Journal Bank 88 400 Bank 65 350 Sales 44 000 Trading Stock 27 900 Cost of Sales 22 000 Discount received 620 Discount allowed 270 Creditors control 36 510 Debtors Control 4 280 Wages ? Current Income ? Stationery 1 620 Debtors Journal Debtors Allowances Journal Sales 12 800 Debtors allowances 1 200 Cost of Sales 6 400 Cost of Sales 600 Creditors Journal Creditors Allowances Journal Creditors Control 58 400 Creditors Control 6 900 Trading Stock 25 990 Trading Stock 4 800 Stationery 1 500 Stationery 175 Packing Material 2 300 Packing Material ? Sundry Accounts ? Sundry Accounts 1 155 5|Page ### Page 6 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 Petty Cash Journal Petty Cash 960 Trading Stock 380 Debtors Control 280 Stationery 150 Sundry Accounts ? QUESTION 4 - CREDITORS’ RECONCILIATION AND INTERNAL CONTROL The information below was taken from the books of Bubba's Wholesale Outlet. REQUIRED: 4.1 Correct the Creditors’ Control Account for June 2023 in the General Ledger. Balance the account correctly. (17) 4.2 Prepare a correct list of creditors as at 30 June 2023. (18) 4.3 Bubba's Wholesale Outlet buys goods in large quantities from The Grit Corner. The stock received from The Grit Corner normally include damaged goods or goods that were not ordered. Goods purchased from The Grit Corner are also delivered late and Bubba's Wholesale Outlet has lost customers as a result of this. Bubba's Wholesale Outlet have decided to change the supplier because they also do not receive any discount from The Grit Corner. Suggest the actions that should be taken by The Grit Corner to retain (keep) their customers. Provide TWO points. (4) INFORMATION: Dr CREDITORS CONTROL Cr Bank & 2023 Discount 2023 Jun 30 received CPJ 34 250 Jun 01 Balance b/d 4 380 Journal Creditors debits GJ 3 290 30 allowances CAJ 2 108 Balance c/d 15 038 Purchases CJ 44 800 Journal Credits GJ 1 290 52 578 52 578 Apr 01 Balance b/d 15 038 6|Page ### Page 7 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 CREDITORS LIST AS AT 30 JUNE 2023 NAME Debit Credit Stump Stomp Retailers 3 890 Fuzzy Quilt. 1 300 The Grit Corner. 4 512 Shatter It X. 3 100 The Shake Shack. 260 260 12 802 Errors and omissions discovered during the month: • Invoice 154 received from Fuzzy Quilt for R1 480 was posted to the account of The Grit Corner in the Subsidiary Ledger. • The business decided to transfer the balance of The Shake Shack to the Debtors’ Ledger. No entry was made. • Invoice 278 received from Stump Stomp Retailers for merchandise purchased on credit for R2 300 was incorrectly recorded in the Creditors’ Journal as R3 200. • The business returned some parts bought for the delivery van to the value of R860 to Shatter It X. The amount was correctly recorded in the Creditors’ Allowances Journal but it was posted to the Creditors’ Ledger as credit purchases. • Stump Stomp Retailers supplies goods to Bubba's Wholesale Outlet and also buys from Bubba's Wholesale Outlet. The debit balance of R640 on their account in the Debtors’ Ledger is to be transferred to their account in the Creditors’ Ledger. [39] 7|Page ### Page 8 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 QUESTION 5 – SALARIES & WAGES 5.1 Sunrise Tea Garden employs only one employee, David Turner, who is paid Weekly. The information is extracted from the week ending 21 April 2023. REQUIRED Use the information provided to answer the following questions: 5.1.1 List TWO differences between salaries and wages. (4) 5.1.2 To which organization is PAYE paid? Write your answer in full (1) 5.1.3 What is the difference between deductions and contributions? (4) 5.1.4 Calculate the total number of overtime hours worked by David for the week. (6) 5.1.5 Name the statutory or legal deduction that has NOT been made From David’s wages. Do not abbreviate your answer. (1) 5.1.6 Refer to QUESTION 5.1.5. How much should have been deducted from David’s wages? (2) 5.1.7 Refer to QUESTIONS 5.1.5 and 5.1.6. How much is owed to the Department of Labour at the end of the month? (Assume there were four weeks in the month) (2) INFORMATION: • David’s normal time rate is R13,50 per hour and if required to work overtime he earns R20,25 per hour. • The following is an extract from his wages earned for the week 17 to 21 April 2023. Normal Time 32 hours Overtime ? Total Wage including overtime R675 Medical Aid R125 Pension Fund (7.5% of basic wages) ? 8|Page ### Page 9 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year anmorephysics. com Question Paper Limpopo DoE/June 2024 5.2 Sunworx Solar sell solar systems and inverters. They employ two sales representatives, J. Fisher and L. Roberts, who earn the same basic salary and a commission of 0,5% for every solar system or inverter sold. Commission is only paid once the installation is completed. REQUIRED: Complete the Salaries Journal for the month of March 2023 in the ANSWER BOOK provided. (30) INFORMATION: • On 01 March, J. Fisher sold solar systems for R500 000. All installations were completed on 27 March. • L Roberts sold inverters and solar systems on 25 March for R800 000. The installations were completed on 05 April 2022. • Both employees belong to a medical aid fund. The total premium paid for each member towards the medical aid fund is R2 700 per month. Sunworx Solar agreed to contribute double what the employees pay. • Pension fund contribution is 15% per month on their basic salary. The employees pay 7,5% while the employer contributes the rest. • UIF deductions and contributions are as per statutory requirements. [50] GRAND TOTAL: 200 9|Page ### Page 10 Downloaded from hlayiso.com Downloaded f rom St anmorephysics. com NATIONAL SENIOR CERTIFICATE GRADE 10 SPECIAL ANSWER BOOK ACCOUNTING MID-YEAR EXAM 2024 NAME OF THE LEARNER: _____________________________________ NAME OF THE SCHOOL: ______________________________________ CIRCUIT: __________________________________________________ QUESTION MARKS MARKS INTERNAL EXTERNAL OBTAINED MODERATION MODERATION 1 44 2 23 3 44 4 39 5 50 TOTAL 200 This answer book consists of 12 pages. ### Page 11 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 QUESTION 1 – ACCOUNTING CONCEPTS & ANALYSIS OF TRANSACTIONS 1.1 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 5 1.2 No. General Ledger Accounting Equation Account Debited Account Credited A OE L 1 7 Petty cash 16 Debtors Control 19 Creditors Control 21 25 Bank 31 Bank 44 39 2|Page ### Page 12 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 2. GENERAL JOURNAL OF THE ADVENTURE APPAREL – DECEMBER 2022 Debtors Control Creditors Control Dec Details Fol Dr Cr Dr Cr Dr Cr 31 Totals b/d 825 116 268 384 23 3|Page ### Page 13 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 QUESTION 3 – GENERAL LEDGER AND INTERNAL CONTROL 3.1 Dr DEBTORS CONTROL Cr 2023 2023 Feb 01 Balance b/d 24 200 Feb 28 Journal Credits GJ 1 210 28 Journal debits GJ 1 460 10 Dr TRADING STOCK Cr 2023 2023 Feb 01 Balance b/d 28 300 Feb 28 Donations GJ 2 400 16 4|Page ### Page 14 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 Dr STATIONERY Cr 2023 2023 Feb 01 Total b/d 4 800 Feb 28 8 3.2 3.2.1 Explain the meaning of the concept credit term. 2 5|Page ### Page 15 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 3.2.2 Provide TWO measures that can be implemented by the business to encourage early payments. 4 3.3 The owner suspects that stock has been stolen during the year. He has asked you for advice on internal controls he could implement to prevent stock from being stolen. List TWO internal controls to safeguard stock. 4 44 6|Page ### Page 16 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 4.1 Dr CREDITORS CONTROL Cr 17 4.2 CREDITORS LIST AS AT 30 JUNE 2023 NAME Credit 18 7|Page ### Page 17 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 4.3 Suggest the actions that should be taken by The Grit Corner to retain or (keep) their customers. Provide TWO points. 4 39 8|Page ### Page 18 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 QUESTION 5 – SALARIES & WAGES 5.1 5.1.1 List TWO differences between salaries and wages. 4 5.1.2 To which organisation is PAYE paid? Write your answer in full. 1 9|Page ### Page 19 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 5.1.3 What is the difference between deductions and contributions? 4 5.1.4 Calculate the total number of overtime hours worked by David for the week. 6 10 | P a g e ### Page 20 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 5.1.5 Name the statutory or legal deduction that has NOT been made from David’s wages. Do not abbreviate your answer. 1 5.1.6 Refer to QUESTION 5.1.5. How much should have been deducted from David’s wages? 2 5.1.7 Refer to QUESTIONS 5.1.5 and 5.1.6. How much is owed to the Department of Labour at the end of the month? (Assume there were four weeks in the month.) 2 11 | P a g e ### Page 21 Downloaded from hlayiso.com Downloaded Accounting Grade 10 f rom St anmorephysics. Mid-Year com Answer book Limpopo DoE/June 2024 5.2 SALARIES JOURNAL OF SUNWORX SOLAR FOR MARCH 2023 Total Net EARNINGS DEDUCTIONS Deducti CONTRIBUTIONS Salary Employee ons Basic Commi Medical Pension Medical Pension PAYE UIF UIF Salary ssion Aid Fund Aid Fund J Fisher 17 000 2 750 L Roberts TOTAL 4 000 30 50 TOTAL: 200 12 | P a g e ### Page 22 Downloaded from hlayiso.com Downloaded f rom St anmorephysics. com NATIONAL SENIOR CERTIFICATE GRADE 10 ACCOUNTING MID YEAR EXAMINATION JUNE 2024 MARKING GUIDELINES This marking guideline consists of 07 pages ### Page 23 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year Exam anmorephysics. com Marking guidelines Limpopo DoE/June 2024 QUESTION 1-ACCOUNTING CONCEPTS & ANALYSIS OF TRANSACTIONS 1.1 1.1.1 C 1.1.2 D 1.1.3 G 1.1.4 E 1.1.5 B (5) 1.2 No. General Ledger Accounting Equation Account Debited Account Credited A OE L 1 Trading Stock Creditors Control + 9 720 + 9 720 7 + 450 Debtors Control Petty cash -450 16 Debtors Control Sales + 4 500 + 4 500 Cost of sales Trading Stock - 2 500 - 2 500 19 Creditors Control Equipment - 2 400 -2400 21 Debtors allowances Debtors control -1200 -1200 25 + 3 400 Bank Debtors Control - 3 400 Discount allowed Debtors Control - 100 - 100 31 - Loan Bank 39 600 -39 600 Interest on loan Bank - 4 400 - 4400 (35) QUESTION 2 - GENERAL JOURNAL GENERAL JOURNAL OF THE ADVENTURE APPAREL CO – DECEMBER 2022 Debtors Control Creditors Control D Details FOL Dr Cr Dr Cr Dr Cr 31 Totals b/d 825 116 268 384 Bad debts 1 440 C Stokes 1 440 1 440 M Maxwell (Creditor) 280 280 M Maxwell (debtor) 280 280 Drawings 1 200 Trading Stock 1 200 Fixed Deposit: ABSA 3 000 Interest on fixed deposit 3 000 J Young 280 280 J Yates 280 280 K Patton 102 102 Interest receivable 102 1 207 2 116 548 348 If details are incorrect, only award 1 mark for amounts   Allocate 1 mark for totals (23) 2|Page ### Page 24 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year Exam anmorephysics. com Marking guidelines Limpopo DoE/June 2024 QUESTION 3- GENERAL LEDGER AND INTERNAL CONTROL 3.1 Dr DEBTORS CONTROL Cr 2023 2023 Feb 01 Balance b/d 24 200 Feb 28 Journal Credits GJ 1 210 Bank & discount 28 Journal debits GJ 1 460 allowed CRJ 4 550 Debtors Sales DJ 12 800 allowances DAJ 1 200 Petty Cash PCJ 280 Balance c/d 31 780 38 740 38 740 Mar 01 Balance b/d 31 780 (10) Dr TRADING STOCK Cr 2023 2023 Feb 01 Balance b/d 28 300 Feb 28 Donations GJ 2 400 28 Bank CPJ 27 900 Cost of sales DJ 6 400 Creditors Control CJ 25 990 Cost of sales CRJ 22 000 Creditors Cost of sales DAJ 600 Control CAJ 4 800 Petty Cash PCJ 380 Balance c/d 47 570 83 170 83 170 Mar 01 Balance b/d 47 570 16 (16) Dr STATIONERY Cr 2023 2023 Feb 01 Total b/d 4 800 Feb 28 Creditors Control CAJ 175 28 Bank CPJ 1 620 Total c/d 7 895 Creditors Control CJ 1 500 Petty Cash PCJ 150 8 070 8 070 Mar 01 Total b/d 7 895 (8) 3|Page ### Page 25 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year Exam anmorephysics. com Marking guidelines Limpopo DoE/June 2024 3.2 The owner noticed that some debtors do not comply with the credit terms as part of their contractual agreement with the business. 3.2.1 Explain the meaning of the concept credit term. Any ONE valid point  (2) (One mark for partially correct response.) The length of time allowed to pay for goods and services that were bought on credit, which will include the number of instalments, interest, etc. 3.2.2 Provide TWO measures that can be implemented by the business to encourage early payments. Any TWO valid points   (One mark for partially correct response.) • Screen debtors before selling the goods on credit. • Send reminders, for example send SMS/monthly statements. • Charge interest on overdue accounts of debtors. • Give discounts for early payments. 3.3 The owner suspects that stock has been stolen during the year. He has asked you for advice on internal controls he could implement to prevent stock from being stolen. List TWO internal controls to safeguard stock. Any valid answer   (2 x 2) (4) One mark for partly correct answer • Division / separation of duties. • All purchases of goods should be properly authorised. • Proper authorisation of stock issued from the warehouse. • Regular physical stock count. • Install security cameras in the warehouse and store. • Hire security guards to monitor the warehouse. • Stock must be kept in a safe place. 4|Page ### Page 26 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year Exam anmorephysics. com Marking guidelines Limpopo DoE/June 2024 QUESTION 4- CREDITORS RECONCILIATION AND INTERNAL CONTROL 4.1 Correct the creditors control account for June 2023 in the General Ledger. Balance the account correctly. Dr CREDITORS CONTROL Cr 2023 Bank & Discount 2023 Jun 30 received CPJ 34 250 Jun 01 Balance b/d 4 380 Purchases Total Returns CAJ 2 108 30 (44 800 – 900) CJ 43 900 Journal debits Journal Credits (3 290 + 640) GJ 3 930 (1 290 + 260) GJ 1 550 Balance c/d 9 542 49 830 49 830 Apr 01 Balance b/d 9 542 (17) 4.2 Prepare a correct list of creditors as at 30 June 2023. CREDITORS LIST AS AT 30 JUNE 2023 NAME Credit Stump Stomp Retailers (3 890 -900 – 640) 2 350 Fuzzy Quilt. (1 300 + 1480) 2 780 The Grit Corner. (4 512 – 1 480) 3 032 Shatter It X. (3 100 – 860 – 860) 1 380 The Shake Shack. (-260 + 260) 0 9 542 (18) 4.3 Bubba's Wholesale Outlet buys goods in large quantities from The Grit Corner. The stock received from The Grit Corner normally include damaged goods or goods that were not ordered. Suggest the actions that should be taken by The Grit Corner to retain or (keep) their customers. Provide TWO points. Any TWO valid points   (4) (One mark for partially correct response.) • Grant a trade discount to Bubba's Wholesale Outlet or cash discount for payments received early. • Keep the customer informed if there are any challenges in terms of delivery of goods. 39 5|Page ### Page 27 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year Exam anmorephysics. com Marking guidelines Limpopo DoE/June 2024 QUESTION 5 – SALARIES &WAGES 5.1.1 List TWO differences between salaries and wages. Accept any valid answers     (1 x 4) (4) SALARIES • Paid monthly • Earned at a fixed amount per month • Normally no overtime, sometimes receive bonuses, incentives and commission WAGES • Paid weekly • Earned at an hourly rate/units produced • Earns a basic and overtime 5.1.2 To which organisation is PAYE paid? Write your answer in full. South African Revenue Services  (1) 5.1.3 What is the difference between deductions and contributions? Accept any valid answers   (2 x 2) (4) DEDUCTIONS • Amounts subtracted/deducted from a person’s gross wages/ salaries and paid over to the relevant institutions  CONTRIBUTIONS Additional amounts paid on behalf of employees by the employer.  5.1.4 Calculate the total number of overtime hours worked by David for the week. 32 hours’ x 13,50 = R432  (6) R675 – R432  = R243 243 / 22,25 = 12 Hours 5.1.5 Name the statutory or legal deduction that has NOT been made from David’s wages. Do not abbreviate your answer. Unemployment Insurance Fund  (1) 5.1.6 Refer to QUESTION 5.1.5. How much should have been deducted from David’s wages? R432 x 1% = R4.32  (2) 5.1.7 Refer to QUESTIONS 5.1.5 and 5.1.6. How much is owed to the Department of Labour at the end of the month? (Assume there were four weeks in the month.) (432 x 2) x 1% = 8,64 (2) 5.2.1 Complete the Salaries Journal for the month of March 2023 in the (30) ANSWER BOOK provided. 6|Page ### Page 28 Downloaded from hlayiso.com Downloaded Accounting GR10 f rom St Mid-Year Exam anmorephysics. com Marking guidelines Limpopo DoE/June 2024 SALARIES JOURNAL OF SUNWORX SOLAR FOR MARCH 2023 Total Net EARNINGS DEDUCTIONS Deducti CONTRIBUTIONS Employ Salary ons ee Basic Commi Medical Pension Medical Pension PAYE UIF UIF Salary ssion Aid Fund Aid Fund J 2 500 14 405 170 17 000 2 750 900 1 275 170 5 095 1 800 1 275 Fisher    L 17 000 1 250 13 405 170 Robert 0 900 1 275 170 3 595 1 800 1 275     s TOTAL 34 000 27 810 2 500 4 000 1 800 2 550 340 8 690 3 600 2 550 340   [50] GRAND TOTAL: 200 7|Page ## Related documents - [Gr 10 Accounting (Afrikaans) June 2024 Answer Book](https://www.hlayiso.com/library/gr-10-accounting-afrikaans-june-2024-answer-book/af03b52b-03b1-41d3-a50d-40f4c4d5755a) — Accounting · Addendum · 2024 · Afr - [Gr 10 Accounting (Afrikaans) June 2024 Question Paper](https://www.hlayiso.com/library/gr-10-accounting-afrikaans-june-2024-question-paper/8485d01d-96f0-4e55-91d1-eda3bf9fb4fe) — Accounting · QP · 2024 · Afr - [Gr 10 Accounting P1 (English) June 2024 Question Paper](https://www.hlayiso.com/library/gr-10-accounting-p1-english-june-2024-question-paper/a5949fb6-584c-4799-b3be-8943c5b6809a) — Accounting · QP · 2024 · Eng - [Accounting AB P2 ENG](https://www.hlayiso.com/library/accounting-ab-p2-eng/d1f25e80-535b-4911-ad43-6287b4613d5b) — Accounting · Addendum · 2024 · Eng - [Accounting QP P1 ENG](https://www.hlayiso.com/library/accounting-qp-p1-eng/8b3ddb93-84a9-4270-a1d8-0ce12b9f72e9) — Accounting · QP · 2024 · Eng - [Accounting QP P2 ENG](https://www.hlayiso.com/library/accounting-qp-p2-eng/499ba6a6-a17a-491d-b1e9-ac89d638ab8c) — Accounting · QP · 2024 · Eng ## More from Grade 10 Accounting - [Grade 10 Accounting P1 November 2026 Mock 2 Answer Book](https://www.hlayiso.com/library/grade-10-accounting-2026-november-mock-exam-2-answer-book-paper-1/3312807c-6e7e-4245-94b1-2ab99c2d85b9) — Addendum · 2026 · Eng - [Grade 10 Accounting P2 November 2026 Mock 2 Answer Book](https://www.hlayiso.com/library/grade-10-accounting-2026-november-mock-exam-2-answer-book-paper-2/5e4e6d3c-6636-4866-91a5-260e70a7da2d) — Addendum · 2026 · Eng - [Grade 10 Accounting P2 November 2026 Mock 2 Memo](https://www.hlayiso.com/library/grade-10-accounting-2026-november-mock-exam-2-memorandum-paper-2/3383a451-2987-495f-a231-c33f8e26ed72) — Memo · 2026 · Eng - [Gr 10 ACC (English) June 2023 Answer Book](https://www.hlayiso.com/library/gr-10-acc-english-june-2023-answer-book/5e1afc04-8570-497e-bb28-6517200ce02c) — Addendum · 2023 · Eng - [Gr 10 ACC (Afrikaans) June 2023 Possible Answers](https://www.hlayiso.com/library/gr-10-acc-afrikaans-june-2023-possible-answers/51dbb645-1089-4ac1-a5ca-1eacf8d53a3c) — Memo · 2023 · Afr - [Gr 10 ACC (English) June 2023 Possible Answers](https://www.hlayiso.com/library/gr-10-acc-english-june-2023-possible-answers/f7590d1d-e2ed-4a3e-9525-a64d96f66849) — Memo · 2023 · Eng ## Collection - [Grade 10 past papers](https://www.hlayiso.com/grade-10/past-papers) --- Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. 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