VCE Stuff > VCE Accounting
VCAA Accounting Sample Exam Solutions 2019
cotangent :
--- Quote from: Seamus Wong on November 03, 2019, 05:01:57 pm ---You just gotta think logically. even if they aren't the 'same line' of inventor, they are the same cost, weigh the same, are purchased and delivered together. So u just intuitively reason that the delivery per unit is the same for both lines
--- End quote ---
Ye but u cant use that for every scenario right? Say you have golf clubs and tennis raquets being delieverd at the same cost. You cant logically allocate it right because it separate lines of inventory?
accountboi:
--- Quote from: cotangent on November 03, 2019, 05:23:24 pm ---Ye but u cant use that for every scenario right? Say you have golf clubs and tennis raquets being delieverd at the same cost. You cant logically allocate it right because it separate lines of inventory?
--- End quote ---
Yea you can't. Only for ones which can be logically allocated to each individual unit of inventory. Golf clubs and tennis racquets are like completely different so you can't logically allocate these.
jnlfs2010:
For question 5, why do we only allocate the earning of a portion of the unearned sales revenue? I don't think I ever learnt this at school or in textbook, apologies.
GaGeAN:
--- Quote from: jasheel on November 02, 2019, 08:01:07 am ---Yeah add the GST in the exam ! I just chose $1200 because otherwise you get decimals!
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I know to avoid decimals on the exam and if I see I probably made a mistake, but don't you just round off the numbers and not leave it as a decimal
spursy:
--- Quote from: jnlfs2010 on November 04, 2019, 10:35:54 am ---For question 5, why do we only allocate the earning of a portion of the unearned sales revenue? I don't think I ever learnt this at school or in textbook, apologies.
--- End quote ---
yea same i have a feeling we allocate the unearned revenue for the 100 desks because ive never seen a question where you have to do a portion of the unearned revenue. Also I asked my teacher and she said you allocate the full amount of $825
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