Accounting Exam Discussion Thread

[Damoz.G]

What did people do in question 8 if you remember haha. It was a pre-adjustment trial balance and you had to close some expense accounts. Did you guys add anything to the cost of sales figure because of the prepaid sale, or did you already assume it was added already since it was done in the sales journal on the 29th of June

I assumed it was already added.

The note above the dot points said "The Accountant noted the following", so I thought that it was just extra information.

[rozza]

What did u guys get for your operating activities section in question 1d? 

[Kuroyuki]

What did people do in question 8 if you remember haha. It was a pre-adjustment trial balance and you had to close some expense accounts. Did you guys add anything to the cost of sales figure because of the prepaid sale, or did you already assume it was added already since it was done in the sales journal on the 29th of June

I was one of the few ppl that did in my school
It made my expense closing wrong, capital, and income statement.
We were allowed to write outside the box right

[S61778]

are the answers up haha

[DPmatt]

For question 8 in the trial balance it had a prepaid insurance expense value, but no insurance expense. Were we suppose to do anything with this? I didn't because there were no dot points in relation to it.

[S61778]

What did u guys get for your operating activities section in question 1d? 

something like -90 i think?

[atar90please]

For the question it involved updating the listed journals with the additional information provided.

It then when on to state that you must total the journals after including the additional information.

I didn't include anything for the purchases journal as I didn't think there were any new entries. But does that mean that I should have wrote a new totals line.

The totals to date were as of the 22nd of April so should I have updated it to the 30th to show that it's the final total?????

[atar90please]

This is for question 1)

[sam.utute]

are the answers up haha

Uploading now.

[DPmatt]

something like -90 i think?

yeah I got -90

[S61778]

For the question it involved updating the listed journals with the additional information provided.

It then when on to state that you must total the journals after including the additional information.

I didn't include anything for the purchases journal as I didn't think there were any new entries. But does that mean that I should have wrote a new totals line.

The totals to date were as of the 22nd of April so should I have updated it to the 30th to show that it's the final total??

yeah i think so i got marked wrong for that in a sac

[Damoz.G]

For the question it involved updating the listed journals with the additional information provided.

It then when on to state that you must total the journals after including the additional information.

I didn't include anything for the purchases journal as I didn't think there were any new entries. But does that mean that I should have wrote a new totals line.

The totals to date were as of the 22nd of April so should I have updated it to the 30th to show that it's the final total??

I re-wrote the Totals for the Purchases Journal, just in case because I didn't want to lose the marks for it.

[S61778]

Uploading now.

thanks man

[Kuroyuki]

Uploading now.

I think I speak for everyone when I say
THANK YOU SO MUCH
Now it's time for us to read and cry haha

[Damoz.G]

Uploading now.

Sweet, thanks!