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December 26, 2025, 03:30:19 pm
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Author Topic: the accounting 09 discussion thread  (Read 27148 times)  Share 

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geeza23

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the accounting 09 discussion thread
« on: November 05, 2009, 02:30:01 pm »
how did everyone else go?i personally think it was definitely easier than vcaa 08
there were a few tricky questions and i have my question booklet that i'll post up later i've written down most of my response next to it and u guys can compare it and tell me what i did wrong or stuffed up as well as urself

edit : exams up mind u after what u guys said im not that confident stuffed up like 3-4 now lol








« Last Edit: November 05, 2009, 03:15:26 pm by geeza23 »
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2008
Chinese SLA - 40

2009
ESL                  - 43+
Accounting        - 38+
Math Methods    - 34+
Physics             - 20+
Specialist           - 20+

hopefully enter of 95.20 and above

Ilovemathsmeth

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Re: the accounting 09 discussion thread
« Reply #1 on: November 05, 2009, 02:34:53 pm »
what did you do for the posters and ball question? product cost it or remove from selling price?
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Psychology 50 | Mathematical Methods 49 | Further Mathematics 49 | Accounting 49 | Chemistry 44 | English 43
ATAR: 99.75

sdhains

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Re: the accounting 09 discussion thread
« Reply #2 on: November 05, 2009, 02:37:31 pm »
Quote from: Ilovemathsmeth on November 05, 2009, 02:34:53 pm
what did you do for the posters and ball question? product cost it or remove from selling price?

I got this question wrong. The posters are selling expenses therefore are only included when the stock is valued at NRV. So you subtract the $5 poster expense from the balls which were valued at NRV.

How many marks do you think I will lose if i did everything else right, but treated the poster expense as a product cost?
« Last Edit: November 05, 2009, 02:39:28 pm by sam5 »
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Ilovemathsmeth

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Re: the accounting 09 discussion thread
« Reply #3 on: November 05, 2009, 02:39:31 pm »
So did I. According to my Accounting teacher it might not be entirely incorrect.

My point is that why would they tell you 90 are remaining at the end?

Okay so if we got this wrong, reckon we could get one of the three marks?
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Raw Scores:
Psychology 50 | Mathematical Methods 49 | Further Mathematics 49 | Accounting 49 | Chemistry 44 | English 43
ATAR: 99.75

geeza23

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Re: the accounting 09 discussion thread
« Reply #4 on: November 05, 2009, 02:41:16 pm »
oh shit i just added it to 90 out of the 100 of pro junior balls might've gotten it entirely wrong the figure i got for values of stock is 10530
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2008
Chinese SLA - 40

2009
ESL                  - 43+
Accounting        - 38+
Math Methods    - 34+
Physics             - 20+
Specialist           - 20+

hopefully enter of 95.20 and above

unknown12

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Re: the accounting 09 discussion thread
« Reply #5 on: November 05, 2009, 02:47:12 pm »
I think you will get a mark for the pre junior total 1 for the pro senior total and one for the pro leather total
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lilyrose

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Re: the accounting 09 discussion thread
« Reply #6 on: November 05, 2009, 02:47:24 pm »
did you have to include the import duties?
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andrew4443

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Re: the accounting 09 discussion thread
« Reply #7 on: November 05, 2009, 02:49:35 pm »
Quote from: Ilovemathsmeth on November 05, 2009, 02:39:31 pm
So did I. According to my Accounting teacher it might not be entirely incorrect.

My point is that why would they tell you 90 are remaining at the end?

Okay so if we got this wrong, reckon we could get one of the three marks?

The whole '90 remaining' thing confused me, but it really came down to the fact of whether the posters were necessary to get the balls in the condition to sell. My arguement being that they were only necessary to sell the item, so they are only used in calculation of NRV
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Ilovemathsmeth

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Re: the accounting 09 discussion thread
« Reply #8 on: November 05, 2009, 02:50:49 pm »
Do you think there's room for alternative interpretations?

If that's 3 marks gone.....FML.
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PepsiMax

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Re: the accounting 09 discussion thread
« Reply #9 on: November 05, 2009, 02:51:05 pm »
It says that posters are purchased as required.
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Nelle

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Re: the accounting 09 discussion thread
« Reply #10 on: November 05, 2009, 02:51:50 pm »
I got stock writedown of $800 due to including the import duties as a product cost, therefore increasing the unit cost to $65.
Then the NRV would have been $55 due to the subtraction of the $5 that was a cost necessary for the sale.

I don't know if that is incorrect, did anyone get the same?  
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phanphy

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Re: the accounting 09 discussion thread
« Reply #11 on: November 05, 2009, 02:52:36 pm »
What did you guys get for Stock Write Down? (Same qn)

I got 800
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2008: Classical Societies and Cultures
2009: Accounting, English, Legal, Further, Methods
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andrew4443

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Re: the accounting 09 discussion thread
« Reply #12 on: November 05, 2009, 02:53:37 pm »
Quote from: Ilovemathsmeth on November 05, 2009, 02:50:49 pm
Do you think there's room for alternative interpretations?

If that's 3 marks gone.....FML.
Possibly, it was pretty ambiguous.

I got 800 as well Phanphy
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chris1991

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Re: the accounting 09 discussion thread
« Reply #13 on: November 05, 2009, 02:53:42 pm »
Yes i got a SWD of 800 as well. Import duties shouldve been treated as product costs
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unknown12

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Re: the accounting 09 discussion thread
« Reply #14 on: November 05, 2009, 02:56:14 pm »
Yeh i think $800 was correct. However do you think if you, as i have listed:

Pro Junior: Right Amount
Pro Senior: Right Amount
Pro Leather: Wrong Amount (Due to incorrect Stock Write Down)

and then carried that mistake down to the General Jorunal entry, how many marks would it cost? Would consequentials apply?
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