Accounting exam solutions

[abcdqd]

Hi all,

These are my solutions to the exam, please correct any errors I've made. I have no idea how VCAA will mark though, so please don't ask me about Question 2 LOL.

By the way I didn't have the answer book so I'm not sure how they set out Q2.

Solutions: https://www.mediafire.com/?1dqz00scv3x8vw8 [fixed Q2, thanks angelicachee!]

Exam: https://www.mediafire.com/?rdrxeuxkmu415gb

[Miokovic]

What do you think the A and A+ Cutoffs will be? Lower than last year?

[angelicachee]

Hi all,

These are my solutions to the exam, please correct any errors I've made. I have no idea how VCAA will mark though, so please don't ask me about Question 2 LOL.

By the way I didn't have the answer book so I'm not sure how they set out Q2.

Solutions: https://www.mediafire.com/?1dqz00scv3x8vw8

Exam: https://www.mediafire.com/?rdrxeuxkmu415gb

Hello! For question 2, isnt it the stock control supposed to be increase as it is a sale return, stock returned from the debtor or its my mistake? :p

[abcdqdxD]

What do you think the A and A+ Cutoffs will be? Lower than last year?

Lower I think, maybe 80-81/100

[abcdqd]

Hello! For question 2, isnt it the stock control supposed to be increase as it is a sale return, stock returned from the debtor or its my mistake? :p

Yep yep, I forgot a few other things too, fixing it now! Thanks!

[redcracker]

what did you think about the difficulty of the exam? also what do you expect the cutoff for 50 to be this year? last year it was 194/200 i believe

[Maths]

Hi all,

These are my solutions to the exam, please correct any errors I've made. I have no idea how VCAA will mark though, so please don't ask me about Question 2 LOL.

By the way I didn't have the answer book so I'm not sure how they set out Q2.

Solutions: https://www.mediafire.com/?1dqz00scv3x8vw8 [fixed Q2, thanks angelicachee!]

Exam: https://www.mediafire.com/?rdrxeuxkmu415gb

hi! in question 10c can you let me know how you determined the stock write down to be $2400.
Other then that i think i went pretty well got that CFS down

[abcdqd]

what did you think about the difficulty of the exam? also what do you expect the cutoff for 50 to be this year? last year it was 194/200 i believe

The exam was long and there were a lot of tricks. 50 cut-off, I have no idea, but it'll probably be lower than last year.

hi! in question 10c can you let me know how you determined the stock write down to be $2400.
Other then that i think i went pretty well got that CFS down

Cost price per unit was 95+5=100. Stock writedown is 100-60*=40 per unit, totalling to 2400 for 60 units.

*60 is the NRV because expected selling price is 70 (we choose the lowest possible selling price under conservatism) minus the cost of the coffee pods (10). Don't include delivery out in your calculation because it is not paid by the business.

[Maths]

The exam was long and there were a lot of tricks. 50 cut-off, I have no idea, but it'll probably be lower than last year.

Cost price per unit was 95+5=100. Stock writedown is 100-60*=40 per unit, totalling to 2400 for 60 units.

*60 is the NRV because expected selling price is 70 (we choose the lowest possible selling price under conservatism) minus the cost of the coffee pods (10). Don't include delivery out in your calculation because it is not paid by the business.

Alright Thank you, I think I misread the coffee pod part getting a NRV of $70 . Thanks for putting up the answers!

[Miokovic]

GA1: 94/100
GA2: 96/100
GA3: 84/100

Possible study score seeing as though exam A+ cutoff is predicted to be a bit lower than last years?

[evogamerz]

Well there goes my future doing past exams I was confident and I study very hard and this exam was just way to hard it unfair how difficult it was I think I failed

[chasej]

*60 is the NRV because expected selling price is 70 (we choose the lowest possible selling price under conservatism) minus the cost of the coffee pods (10). Don't include delivery out in your calculation because it is not paid by the business.

Noooooo, I got the NRV correct but made a silly mistake and when working out the write down multiplied stock on hand times the NRV (60), not the value of the actual write-down (40).

Oh well - it's only mark lost since it's consequential marks in the general journal entries.

thanks for solutions by the way, sure many would find them useful - personally I can't bring myself to read them

[lmnop]

For the budgeted cash flow statement, would I lose two marks for including the wrong figure for receipts from debtors?
Or would I lose one due to consequential marks?

[brisbane99]

Cheers cuong!

[chasej]

For the budgeted cash flow statement, would I lose two marks for including the wrong figure for receipts from debtors?
Or would I lose one due to consequential marks?

one due to consequential. one mistake = one mark lost in most cases.