VCAA 2013 Accounting Suggested Solutions

[Kuroyuki]

For the carrying value question
I said the right answer. Then I said the residual value is 3000
But then I derped and subtract the residual value from the carryng to calculate what I thought was acc dep of 6996.
So I wrote the correct answer then some incorrect bs.
How many marks would I lose 1 or 2?

[Mafioso]

Was reliability the only accepted characteristic for the statement of account question?

[DPmatt]

For 3a, the delivery charges were $2100, as there were 210 units of stock in total, wouldn't that be $10 per unit, making each scooter $81?

[Kuroyuki]

And for q5 net cash flow investing activities was actually in surplus I'm pretty sure.

[Damoz.G]

For 3a, the delivery charges were $2100, as there were 210 units of stock in total, wouldn't that be $10 per unit, making each scooter $81?

No, whenever there is more than one Unit of Stock on an invoice, it cannot be included. The other Stock Items, such as the Trail Bikes may have costed more Delivery Expense than the Delivery charges for Scooters. Therefore, its treated as a Period Cost.

[Uberjew]

Can someone prove me wrong that: I counted the $2100 delivery charge as a product cost because it was $2100 for 210 total items which made sense to be $10/unit.

Often you just get a random value and its always a period cost but I just couldn't help finding a logical reason to apply it to each unit of stock - $10 a unit...

gah didn't catch the GST at the end and messed up some more stuff, looking at 88-90/100 so still good I guess...

[Kuroyuki]

Can someone prove me wrong that: I counted the $2100 delivery charge as a product cost because it was $2100 for 210 total items which made sense to be $10/unit.

Often you just get a random value and its always a period cost but I just couldn't help finding a logical reason to apply it to each unit of stock - $10 a unit...

gah didn't catch the GST at the end and messed up some more stuff, looking at 88-90/100 so still good I guess...

it's not logical to divide it by 210 just cuz there's that many items.
Look at carpavas post above yours

[dannynips]

Please please please email solns to [email protected]

Thanks!!!

[sam.utute]

Please please please email solns to [email protected]

Thanks!!!

Emailed.

[dannynips]

Much appreciated. Thank you!

[Uberjew]

it's not logical to divide it by 210 just cuz there's that many items.
Look at carpavas post above yours

Yeah I posted as capravas posted so i didn't see, however i was thinking that while posting but just wanted a response...  ffs it just had to be such a perfect number!  oh well its not like i will be allowed to make that mistake again

[Damoz.G]

Yeah I posted as capravas posted so i didn't see, however i was thinking that while posting but just wanted a response...  ffs it just had to be such a perfect number!  oh well its not like i will be allowed to make that mistake again

What perfect number - 210? I think they purposely did that because it always trips students up. =/

[lmaoss]

The delivery expense cannot be allocated as a product cost because it cannot be logically allocated to an individual unit of stock since it is not directly traceable to a single item of the scooter. It just gave an entire amount which may have been distributed differently to each item. More heavier objects will weigh more and may cost more delivery expense.

[yoodles]

For 3a, the delivery charges were $2100, as there were 210 units of stock in total, wouldn't that be $10 per unit, making each scooter $81?

there was a total of 210 units of stock but only 50 units of scooters, which is what the question was asking for.

[Saarah]

Could you please please please send me the answers as the link won't work. It would be greatest appreciated

My email is: [email protected]