ATAR Notes: Forum
Archived Discussion => 2010 => End-of-year exams => Exam Discussion => Victoria => Accounting => Topic started by: aposta28 on November 04, 2010, 03:05:59 pm
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So they use the insect spray for 1 dollar
that makes the value $10
Was $10 the NRV or was it $9
This exam, it was so poorly written
Quite ambiguous!
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NRV was 9.
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NRV was 9.
Had the same. NRV 9.
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Definitely 9, cause NRV is estimated selling prices less any additional expenses involved with marketing/distribution
i.e. 10 less 1 = 9
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And the stock write down was $288?
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And the stock write down was $288?
it was 48x(15-9) = 288
well ye :)
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yeah thats correct.
however, it says the spray will be 1, that will give a value of $10
I am sure people assumed that it was already deducted and that word 'value' meant the NRv
Strange wording...
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yeah thats correct.
however, it says the spray will be 1, that will give a value of $10
I am sure people assumed that it was already deducted and that word 'value' meant the NRv
Strange wording...
Didn't say value, it said 'will be sold for $10'.
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yeah thats correct.
however, it says the spray will be 1, that will give a value of $10
I am sure people assumed that it was already deducted and that word 'value' meant the NRv
Strange wording...
"Upon further inspection of the 48 units on hand at 31 December, it was determined that these units were also diseased but were unable to be returned to the supplier. A special spray will be applied (at a cost of $1 per unit) that will allow the units to be sold for $10 each."
Hmm, it is a little ambiguous, but I think the intent was to put NRV into practice. . .
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
1 of course. The wording was pretty clear I felt?
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
1 of course. The wording was pretty clear I felt?
I pretty sure those flowers were 'diseased'. The exam was quite clear about that. Stay away from them unless you're trying to infect someone with malaria.
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
1 of course. The wording was pretty clear I felt?
I pretty sure those flowers were 'diseased'. The exam was quite clear about that. Stay away from them unless you're trying to infect someone with malaria.
It's like LEPROSY! DISEASED!
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
1 of course. The wording was pretty clear I felt?
XD Well I'm asian...Actually thats not a sufficient argument, you're doing the asian 5. LOL
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
1 of course. The wording was pretty clear I felt?
XD Well I'm asian...Actually thats not a sufficient argument, you're doing the asian 5. LOL
I'm asian too!
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Asian pride!
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Asian pride!
How 'bout non-asian pride!
Wait, if I'm Indian, does that mean I'm asian.
...
Confused pride!
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I dunno, the wording is horrible. I just assumed that the '$10' was already the NRV...and didn't deduct the 1 from the 10. Hence, my stock writedown came to 240. >.> How many marks will I lose for that? >.<
1 of course. The wording was pretty clear I felt?
XD Well I'm asian...Actually thats not a sufficient argument, you're doing the asian 5. LOL
I'm asian too!
Ok. I just received secret information from VCAA headquarters. Any Asians that go near those diseased flowers may experience symptoms including cramping diarreah, vomiting, skin bleaching, exam breakdowns, and in extreme cases death. If you experience any of these, please consult your statement of marks. :)
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if for the last question i didnt credit 2 sales i added prepaid sales to the other amount will i get this corrct?
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if for the last question i didnt credit 2 sales i added prepaid sales to the other amount will i get this corrct?
Depends how you set out your answer. Technically, I think you might still get the marks.
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Can someone show me how they did the Rent revenue question?
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
Yeah, i put this, and in the out column, 48 units at $9 each. What did you put?
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
You do 48 units at $6 each in the out column don't you?
Yeah, i put this, and in the out column, 48 units at $9 each. What did you put?
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
Yeah, i put this, and in the out column, 48 units at $9 each. What did you put?
oh shit, didn't put in the stock card.
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
Yeah, i put this, and in the out column, 48 units at $9 each. What did you put?
oh shit, didn't put in the stock card.
Same... :( I think I just ignored that question all together.
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
Yeah, i put this, and in the out column, 48 units at $9 each. What did you put?
oh shit, didn't put in the stock card.
Same... :( I think I just ignored that question all together.
Haha nearly did that tooo! Then in the last 5 mins, i was checking.. i was like what.. why are there six marks..
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how'd you guys post the stock write down into the tock ard
i got 288
but i dont think i posted into the stock card right
Yeah, i put this, and in the out column, 48 units at $9 each. What did you put?
oh shit, didn't put in the stock card.
Same... :( I think I just ignored that question all together.
Haha nearly did that tooo! Then in the last 5 mins, i was checking.. i was like what.. why are there six marks..
I was thinking as I did it why there was so many lines and marks. Probably should have just looked at the question book ayy ;)
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So how many marks lost from omitting stock write down.
Also im curious as to what people wrote for Explain the method for valuing closing stock.
I wrote a physical stocktake but now i realise this is so wrong :(
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Isn't that just a simple NRV, Cost Price question?
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I failed this question as well. =='
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That's what I thought, didn't you just have to explain what NRV was?
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I just said if NRV is lower, you need a stock write down.
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Isn't that just a simple NRV, Cost Price question?
Yeah most people i asked put NRV. One of my friends also put stocktake.
Omg it was so obvious it was NRV why did i write stocktake...
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I failed this question as well. =='
What did you put?
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I failed this question as well. =='
What did you put?
$240 (48*5). I assumed the $10 was the NRV - though I didn't realise that you were meant to add the special spray of $1 to the $15.
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I subconsciously thought that i had to lower that 1 dollar, but my hands didn't agree with me. Got 240 as well :(
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IMO the writers for this years exam was epic fail.. first the sundry creditors then no reporting period given (wtfail) and lastly such an ambiguous question that doesn't specify mark up (can't assume anything). Only thing I found was good was that they had a lot more tricks in the exam so yea that was challenging
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Let's go find out who it is and bash the crap outta him/her!
:D
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Let's go find out who it is and bash the crap outta him/her!
:D
Bring the poisonous flowers