ATAR Notes: Forum
Archived Discussion => 2010 => Mid-year exams => Exam Discussion => Victoria => Accounting => Topic started by: Chavi on June 08, 2010, 07:05:12 pm
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sundry creditors isn't Unit 3 ... .
How did ppl record Joe's plumbin'?
I had:
DR Equipment $1200
DR GST Clearing: $35
CR Sundy creditor - Joes Plumbing $385
CR Stock control - 850
Can any1 confirm?
And btw, did u have to have Sundry creditor in the title?
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DR EQ - 1.2k
DR GST - 35
CR Creditor - 385
blank indent/// Joe's Plumbing - CR 385
CR Stock Control 850
Had a line to spare, text book did it in this format.
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i was never taught this
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DR EQ - 1.2k
DR GST - 35
CR Creditor - 385
blank indent/// Joe's Plumbing - CR 385
CR Stock Control 850
Had a line to spare, text book did it in this format.
I don't think sundry creditors get a subsidiary ledger - they're reported as a CL in the b.s.
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i was never taught this
Yeah same, i saw this Sundry Creditor thing in the practice exams of like 2006-2007.
My teacher said its Unit 4 stuff.
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i was never taught this
neither. so i had NO idea what to do. i can't even remember what i did..
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DR EQ - 1.2k
DR GST - 35
CR Creditor - 385
blank indent/// Joe's Plumbing - CR 385
CR Stock Control 850
Had a line to spare, text book did it in this format.
I don't think sundry creditors get a subsidiary ledger - they're reported as a CL in the b.s.
I think he's refering to just normal Creditor.
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I am unsure for the layout in this question, it's not even in the damn unit.
I did:
DR Equipment 850
CR Stock Control 850
DR Equipment 350
DR GST Clearing 35
CR Creditors Control 385 <- wasn't sure what to put for the heading =/
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Why wasent there in the GST clearning account at the start of 2.2, the $35 entry of GST from the sundry creditor???
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I am unsure for the layout in this question, it's not even in the damn unit.
I did:
DR Equipment 850
CR Stock Control 850
DR Equipment 350
DR GST Clearing 35
CR Creditors Control 385 <- wasn't sure what to put for the heading =/
Why did you list equipment twice?
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i never learnt bout sundry creditor, is it even in unit 3 study design
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
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Why wasent there in the GST clearning account at the start of 2.2, the $35 entry of GST from the sundry creditor???
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lmao so what happens with the sundry creditor question?
I put down sundry creditor :/
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I am unsure for the layout in this question, it's not even in the damn unit.
I did:
DR Equipment 850
CR Stock Control 850
DR Equipment 350
DR GST Clearing 35
CR Creditors Control 385 <- wasn't sure what to put for the heading =/
Why did you list equipment twice?
I assumed it was two separate transactions, although honestly I have no clue as I haven't done this question in recent memory.
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
Highly doubt it.
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
highly doubt it.
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
na just take it out of the exam- make exam out of 86 or wtaeva
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lol we said exactly the same thing..
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Even though it seems like a sundry credit VCAA might say its a creditors control or something :/
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
na just take it out of the exam- make exam out of 86 or wtaeva
highly doubt it, it's probably not a sundry creditor.
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It has to be a sundry creditor. The firm was invoiced for a service that doesn't relate to the purchase of stock on credit.
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dear everybody,
this was a credit transaction, how come it goes in the general journal?!
is it because the Purchase Journal deals only with purchase of stock?
and,
if sundry creditors is a unit 4 thing, will this question get free marks?
and please be nice, i found this exam tricky :(
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This question is depressing me.
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This question is depressing me.
same
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I would call this exam the "trickiest" one in this study design :/
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I would call this exam the "trickiest" one in this study design :/
More irrelevant than anything...
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dear everybody,
this was a credit transaction, how come it goes in the general journal?!
is it because the Purchase Journal deals only with purchase of stock?
and,
if sundry creditors is a unit 4 thing, will this question get free marks?
and please be nice, i found this exam tricky :(
Purchases journal is only used to record credit purchases of stock. Credit purchases of everything else other than stock go through the GJ.
Technically, it's not on the course but you're *supposed* to know how to do these kinds of transactions. I actually came across them in a few of the third party exams, and my teacher went over it the next day.
it was basically CR Sundry creditor xxx (no SL entry)
And I don't reckon they're gonna exclude this question from the course (it was 4 marks - only 1 of which goes to the Sundy creditor entry)
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i put sundry creditor but didnt state who the creditor was.lose the mark altogether?
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i put sundry creditor but didnt state who the creditor was.lose the mark altogether?
Depends what the vcaa examiners decide at their next mother's club tea party
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i put sundry creditor but didnt state who the creditor was.lose the mark altogether?
Depends what the vcaa examiners decide at their next mother's club tea party
lol..
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dear everybody,
this was a credit transaction, how come it goes in the general journal?!
is it because the Purchase Journal deals only with purchase of stock?
and,
if sundry creditors is a unit 4 thing, will this question get free marks?
and please be nice, i found this exam tricky :(
Purchases journal is only used to record credit purchases of stock. Credit purchases of everything else other than stock go through the GJ.
Technically, it's not on the course but you're *supposed* to know how to do these kinds of transactions. I actually came across them in a few of the third party exams, and my teacher went over it the next day.
it was basically CR Sundry creditor xxx (no SL entry)
And I don't reckon they're gonna exclude this question from the course (it was 4 marks - only 1 of which goes to the Sundy creditor entry)
oh thank you for your reply! :)
life sucks!! hahaha oh well its over now
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lol i just realized the title of the thread is sundy creditor.
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The topic of sundry creditors is touched upon in the unit 3 section (can't remember which chapter) of the Neville Box Textbook. I was reading it in the blood bank on monday, luckily. It cant be creditors control/purchases journal/subsidiary ledger. has to be a sundry creditor
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Yeah, it has to be Sundry Creditor eventhough it shouldn't be a Unit 3 topic. Vicki Baron and Neville Box didn't mention a thing about Sundry Creditor in their lectures..
There, my 4 marks are gone because of this question. : (
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
highly doubt it.
Apparently VCAA are stripping the sundry creditor bit of the question
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
highly doubt it.
Apparently VCAA are stripping the sundry creditor bit of the question
Really? :O
It's confirmed??
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i never learnt bout sundry creditor, is it even in unit 3 study design
It's unit 4.
recon they might take the question out
What, like give every1 full marks for it>?
highly doubt it.
Apparently VCAA are stripping the sundry creditor bit of the question
How did u find this out???? :O
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Our teacher who is an examiner spoke to VCAA not sure whether it will be the full 4 marks or just 1...
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one of the accounting teachers at my school was not impressed about the sundry creditor, nor was he happy about the stockcard question and the fifo question.
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My accounting teacher said her source in VCAA said
No student will be disadvantaged because of that question
Whatever that means.
I doubt they'd give all 4 marks automatically. Out of those 4 marks, only one was to do with the sundry creditor, so I assume they'd give every student a minimum of 1 for that question.
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Unless the answer doesn't involve Sundry Creditor.. which i highly doubt it, don't think there's any other options besides Sundry Creditor.
hmmm what about
DR Equipment 1200
DR GST Clearing 35
CR Stock Control 850
CR Accrued Installation Expense 385
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I hope they don't... it is totally unfair for the people who got it correct.
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I hope they don't... it is totally unfair for the people who got it correct.
But it's also totally unfair for people who have never heard of it.
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I hope they don't... it is totally unfair for the people who got it correct.
I really hope they ask you to identify the qualitative characteristics of financial reports as per The Framework, including all of the subsets + explanations in the next paper, followed by an asset test for intellectual property which factors in all definitions and recognition criteria. Lets not worry that it's not in the study design, or that it's using the updated Conceptual Framework; it's not fair to the people who'd get it right, amirite?
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I hope they don't... it is totally unfair for the people who got it correct.
But it's also totally unfair for people who have never heard of it.
True true, it's MOST LIKELY NOT A SUNDRY CREDITOR. However if it is I would be very cross at mr. vcaa for conveniently altering their marking scheme.
I hope they don't... it is totally unfair for the people who got it correct.
I really hope they ask you to identify the qualitative characteristics of financial reports as per The Framework, including all of the subsets + explanations in the next paper, followed by an asset test for intellectual property which factors in all definitions and recognition criteria. Lets not worry that it's not in the study design, or that it's using the updated Conceptual Framework; it's not fair to the people who'd get it right, amirite?
Hahaha yep (Y)
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I hope they don't... it is totally unfair for the people who got it correct.
That's nonsense. The same logic would apply if they'd asked for the proof of Fermat's Last Theorem.
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I hope they don't... it is totally unfair for the people who got it correct.
That's nonsense. The same logic would apply if they'd asked for the proof of Fermat's Last Theorem.
Accounting study design dot points:
the use of the general journal to record infrequent non-cash transactions (GST not applicable):
– establishing a double entry system
– correction of errors
– contribution of non-current assets by the owner
– withdrawals of stock by the owner
– bad debts;
Doesn't look likely that its a sundry creditor... it HAS to be something other than a sundry creditor...
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I hope they don't... it is totally unfair for the people who got it correct.
That's nonsense. The same logic would apply if they'd asked for the proof of Fermat's Last Theorem.
Accounting study design dot points:
the use of the general journal to record infrequent non-cash transactions (GST not applicable):
– establishing a double entry system
– correction of errors
– contribution of non-current assets by the owner
– withdrawals of stock by the owner
– bad debts;
Doesn't look likely that its a sundry creditor... it HAS to be something other than a sundry creditor...
The answer IS sundry creditor... that's the problem.
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Well clearly it's none of those dot points. Plus VCAA have actually admitted there was a problem.
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Well clearly it's none of those dot points. Plus VCAA have actually admitted there was a problem.
were did u hear that vcaa admitted there was a problem?
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Well clearly it's none of those dot points. Plus VCAA have actually admitted there was a problem.
were did u hear that vcaa admitted there was a problem?
Man this is so intriguing haha, I want to know too!!!
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My teacher knows someone who works in the Accounting department there, she said that she phoned today and she was told there's been loads of complaints, and that nothings been decided yet about what they're going to do, but yes, it was a unit 4 question.
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yeah similar story, my mum knows a guy who knows a guy (yes it sounds made up but its not!) who's an assessor and is complaining too
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yeah similar story, my mum knows a guy who knows a guy (yes it sounds made up but its not!) who's an assessor and is complaining too
Good, keep complaining please. :-)
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My school was actually taught the sundry creditor and it appeared in two of our sacs. Bit strange huh? Has VCAA ever changed questions in past exams?
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My school was actually taught the sundry creditor and it appeared in two of our sacs. Bit strange huh? Has VCAA ever changed questions in past exams?
Don't think so. :/
But is sundry creditor really a Unit 4 thing?
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My school was actually taught the sundry creditor and it appeared in two of our sacs. Bit strange huh? Has VCAA ever changed questions in past exams?
Don't think so. :/
But is sundry creditor really a Unit 4 thing?
Yes, without doubt.
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yeah similar story, my mum knows a guy who knows a guy (yes it sounds made up but its not!) who's an assessor and is complaining too
doesnt sound made up at all
LOL
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I wish they redo the 2010 mid-year Accounting Exam. :D
which is impossible.
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apparently they are removing the sundry creditor?