EXAMM WAS HARDD

[LFTM]

what did you guys get for the depreciation of the van? from the first question

[inspire]

what did you guys get for the depreciation of the van? from the first question

i think 1200 or something

[LFTM]

i dont know if this is correct but this is what i wrote:

Assets                                                          Liabilitities

CA                                                              CL

cash 10000                                                  accrued rent  2000

stock control 35000                                        NCL

NCA                                                             loan 50000

delivery van 20000

exactly what i had. think its wrong though

[LFTM]

what did you guys get for the depreciation of the van? from the first question

i think 1200 or something

cool. same here

[mojomojo]

Some people on VN said they found the exam too easy,
I feel so dumb now.

WHAT?! WHO?! HOW?!

http://vcenotes.com/forum/index.php/topic,26629.0.html

[mba]

Yeah I got 1200 too.

Dep Exp = (20 000 - 8 000 ) / 5
Dep Exp = 2400

It is only for six months, so you go 2400 x 0.5

Dep Exp = 1200

[mojomojo]

Yeah I got 1200 too.

Dep Exp = (20 000 - 8 000 ) / 5
Dep Exp = 2400

It is only for six months, so you go 2400 x 0.5

x2

Dep Exp = 1200

[inspire]

Some people on VN said they found the exam too easy,
I feel so dumb now.

WHAT?! WHO?! HOW?!

http://vcenotes.com/forum/index.php/topic,26629.0.html

i'm so lucky i'm doing 7 3+4 in total so this can be my bludge one ><
i just hope i dont fail anything else.

[z1m2v3]

isnt the advertising expense $3000?
the exam says that the contract is worth $9000 and covers the 3 month period starting june 1 2011.
the report is prepared at june 30 2011, so one month has been consumed???

therefore 9000/3 = 3000?
correct me if im wrong.

[LFTM]

how about your profit and loss statements? do you guys remember what you got for net profit?

[mojomojo]

isnt the advertising expense $3000?
the exam says that the contract is worth $9000 and covers the 3 month period starting june 1 2011.
the report is prepared at june 30 2011, so one month has been consumed???

therefore 9000/3 = 3000?
correct me if im wrong.

Actually, yes, it's 3000.
Sorry i don't have the question booklet with me so i didnt know what i actually wrote : S

[mba]

isnt the advertising expense $3000?
the exam says that the contract is worth $9000 and covers the 3 month period starting june 1 2011.
the report is prepared at june 30 2011, so one month has been consumed???

therefore 9000/3 = 3000?
correct me if im wrong.

That is only for one month though, you have to add the advertising expense for the rest of the year too.

Therefore, advertising expense is 38 000 - 6000
= 32 000

[z1m2v3]

what do you mean - the advertising expense for the rest of the eyar?

[mmmmm]

isnt the advertising expense $3000?
the exam says that the contract is worth $9000 and covers the 3 month period starting june 1 2011.
the report is prepared at june 30 2011, so one month has been consumed???

therefore 9000/3 = 3000?
correct me if im wrong.

That is only for one month though, you have to add the advertising expense for the rest of the year too.

Therefore, advertising expense is 38 000 - 6000
= 32 000

but it says "if this adjustment is not recorded"

[inspire]

how about your profit and loss statements? do you guys remember what you got for net profit?

i think i got 13 something something? what did you get?