Accounting Exam Discussion Thread

[Damoz.G]

Ok everyone im going to be afk (cause i have a life outside of accounting- hard to believe yes but i do lol) so Ill be back later

Noooo!

[Damoz.G]

Are the writers allergic to clear and fair exams?

I believe they are allergic to that, yes. They want you to come out questioning whether you did the Questions properly, a bit like a Movie series: What happens next? Gets everyone talking. HAHA!

[Accounting40+]

Damoz what did you get for the cost of a scooter(did u include the customs duty or exclude it)
Also did u include stock loss in the general journal as part of the valuation of stock.

Thanks

[Lucho23]

I believe they are allergic to that, yes. They want you to come out questioning whether you did the Questions properly, a bit like a Movie series: What happens next? Gets everyone talking. HAHA!

Hahaha! They're probably watching this thread having a good laugh. This is their entertainment XD

[joblues64]

Yep. Surely the writers are allergic. I feel for the examiners. They're going to be given about 6 possible combinations of answers for question 8.

[Damoz.G]

Damoz what did you get for the cost of a scooter(did u include the customs duty or exclude it)
Also did u include stock loss in the general journal as part of the valuation of stock.

Thanks

I included the Customs Duty. Its a cost incurred in order to bring the Stock into a condition and LOCATION ready for sale, and it could be allocated to each individual scooters on a logical basis.
So I included it.

No, I didn't include the Stock Loss, and I have a feeling its wrong. =/

Hahaha! They're probably watching this thread having a good laugh. This is their entertainment XD

LOL! Probably!

[sam.utute]

Solutions:

VCAA 2013 Accounting Suggested Solutions

[teexo]

this might be a really stupid question but i used pencil for the whole exam, is that okay?
my friends are making me paranoid, they all used pen /:

[TimmyC]

this might be a really stupid question but i used pencil for the whole exam, is that okay?
my friends are making me paranoid, they all used pen /:

I did too.

Lol, I think I went well on the theory questions, but shithouse in some prac questions

[b_blah]

HAHA. debited the wrong side when closing expense accounts.
ffs, would you just get 0?

[sam.utute]

this might be a really stupid question but i used pencil for the whole exam, is that okay?
my friends are making me paranoid, they all used pen /:

Nah, you'll be fine. I used pencil and pen for theory, but in all honesty, they just don't care.

[sam.utute]

HAHA. debited the wrong side when closing expense accounts.
ffs, would you just get 0?

I did that on my first time through the solutions.

Unfortunately, I don't think you'll be given any marks

[unfamila]

Hmm... I still think the scooters should be $69
Badly worded question though.

[b_blah]

So if you averaged A+ on sacs and got the lowest A+ on this exam (presumably somewhere around 90), what kind of study score would you be looking at? Thanks.

[Hayes451]

Hmm... I still think the scooters should be $69
Badly worded question though.

$69? What about the $2 rebadging product cost?