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VCAA Accounting Sample Exam Solutions 2019
jasheel:
Hi all!
I'm the subject manager for the accounting team at TuteSmart. I made some 2019 Sample Exam solutions for the class, which I thought I would also upload here (since VCAA doesn't provide solutions).
For the theory questions, I used dot points to identify the key points some of the key points I think VCAA is looking for. .
For the practical aspect of the exam, I've identified some of the trickier parts. I also believe there's a typo in the exam in Q11 which I've identified.
Obviously, without the VCAA exams its hard to be sure that you're 100% correct, but I have have checked the solutions for errors a few times.
If you have any questions feel free to message me!
Hope this helps. All the best for the exam!
Edit: Adjusted Q3 to show that there should be GST and the figure should be $1320.
Edit: For Q2b, note that if the question is asking about the overall effect (after the disposal) then there is no effect. In the solutions, I assumed it was talking about the immediate impact before the disposal because it wasn't made clear.
accountboi:
Hey,
Are you sure the debt written off isn't 1320? I thought we should do allowance for doubtful debts/GST clearing. However, this would result in a decimal place for the answer. I just thought the question was a bit ambiguous.
cotangent :
--- Quote from: accountboi on November 01, 2019, 05:04:20 pm ---Hey,
Are you sure the debt written off isn't 1320? I thought we should do allowance for doubtful debts/GST clearing. However, this would result in a decimal place for the answer. I just thought the question was a bit ambiguous.
--- End quote ---
ye same, I thought it would be 1320 as well, but since I knew I was gonna get a decimal I just used 1200. But pre sure, u have to add GST cos that's what most the practice exam solutions do.
jasheel:
--- Quote from: cotangent on November 01, 2019, 10:43:03 pm ---ye same, I thought it would be 1320 as well, but since I knew I was gonna get a decimal I just used 1200. But pre sure, u have to add GST cos that's what most the practice exam solutions do.
--- End quote ---
Yeah add the GST in the exam ! I just chose $1200 because otherwise you get decimals!
spursy:
I think question 5 is wrong cos the question doesn't specify how many desks they were depositing the $825 for so i think we just assume its 100 desks
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