unsure questions on exam

[nbalakers24]

i'm not sure but thats what i had.

this exam is tricky and long

[GoodGuys]

hopefully really low?

i think its going to higher than 08 for sure...
I think generally it was easier, beside the trick question.. and alot of silly mistakes...

but maybe 79/90 for A+
and maybe 70 or 71 for A
im not sure...

[GoodGuys]

i'm not sure but thats what i had.

this exam is tricky and long

YES YES YES///
FOR SURE IT WAS LONG.. ESPECIALLY QUESTION 1. took long time.
i wrote a little message for the examiner...
would that lower my score?
i said "too long""

[Flaming_Arrow]

my prediction is that the A+ will be around 80/90

[monokekie]

i still wonder. why wouldn't stock gain be understated. if the credit sale is recorded, there would be less stock in the firm's stock control account, the stock gain would be higher.
If the credit sale is not recorded, there would be more stock in the firm's stock control account, the stock gain would be lower, thus understating the stock gain???

and why wouldn't the opening balance be zero. since it is clearly stated on the question that owner contributed 20000 to commence business on 1 Jan, wouldn't it be a cash receipts which should be included in the cash flow statement instead of opening balance?

[geeza23]

i'm not sure but thats what i had.

this exam is tricky and long

YES YES YES///
FOR SURE IT WAS LONG.. ESPECIALLY QUESTION 1. took long time.
i wrote a little message for the examiner...
would that lower my score?
i said "too long""

how was it that long i finished with like 15 mins to go

[Ilovemathsmeth]

Okay I don't get the stock gain part.

If you omitted a credit sale, I just thought there would be impact on credit sales and cost of sales. That is that credit sales would be understated, cost of sales understated. I don't get where the stock gain comes in. Can someone help out?

Thanks!

[geeza23]

another question does anyone know when we get our results?i heard its around august?

[phanphy]

The rent expense was $8000

Omission of credit sales:
Credit sales understated (Revenue)
Cost of sales understated (Expense)

Was the opening bank balance for the Statement of Cash Flows $20,000?

[Ilovemathsmeth]

Yes because he contributed it at the very beginning and it is valid to use that figure as it is a 6 month reporting period.

That's what I thought too! I thought 8000 as well.

[hellovce]

i'm so sad i dawdled ont he first question for so long!

[Ilovemathsmeth]

yeah it was too long

[GoodGuys]

i'm not sure but thats what i had.

this exam is tricky and long

YES YES YES///
FOR SURE IT WAS LONG.. ESPECIALLY QUESTION 1. took long time.
i wrote a little message for the examiner...
would that lower my score?
i said "too long""

how was it that long i finished with like 15 mins to go

ekey!!!

[taylor tay bags]

I thought the rent expense would be 12,000 becuase it said rent was paid 4000 on Jan march and June.. reporting period was Jan-June 31 therefore Debit: Rent expense 12,000 and Credit: Prepaid Rent 12,000 which was the remaining of the prepaid asset..

[nbalakers24]

first question as in the whole 45 marks? or just like the 1.1 section?