Q 2.1.3

[inspire]

LOL the cambridge book had like 1 paragraph on it so i was like wtffffff

[emb_23]

going by just unit 3 credit purchases dont go in general jounral even if it is NCA. go to 2.3 in the exam question book under cash payments journal in the sundries it includes a payment for equipment so that what i figure backs that up. I took the question of asking what is the value of the NCA as that is part of Unit 3. I wrote:
Equipment                      1100
     Stock Control                        850
     Installation Expense                350

The installation is part of the cost of the NCA as it is paid to get the NCA into a position and condition ready for use.
This is how I took it, correct me if I'm wrong

[mojomojo]

going by just unit 3 credit purchases dont go in general jounral even if it is NCA. go to 2.3 in the exam question book under cash payments journal in the sundries it includes a payment for equipment so that what i figure backs that up. I took the question of asking what is the value of the NCA as that is part of Unit 3. I wrote:
Equipment                      1100
     Stock Control                        850
     Installation Expense                350

The installation is part of the cost of the NCA as it is paid to get the NCA into a position and condition ready for use.
This is how I took it, correct me if I'm wrong

AWWW true, it's part of the historical cost of the NCA : (.
any1 remembers how many marks are there for this question?

[emb_23]

I didnt do 1/2 im purely going off unit 3 so it might be something from last year in that case oops

[mojomojo]

I didnt do 1/2 im purely going off unit 3 so it might be something from last year in that case oops

Nah not really, they re-taught everything from unit 1+2 in Unit 3 anyway.

[phanphy]

going by just unit 3 credit purchases dont go in general jounral even if it is NCA. go to 2.3 in the exam question book under cash payments journal in the sundries it includes a payment for equipment so that what i figure backs that up. I took the question of asking what is the value of the NCA as that is part of Unit 3. I wrote:
Equipment                      1100
     Stock Control                        850
     Installation Expense                350

The installation is part of the cost of the NCA as it is paid to get the NCA into a position and condition ready for use.
This is how I took it, correct me if I'm wrong

credit purchases of stock go in the purchases journal.
as it was part of the cost of the NCA, it was recorded in the general journal
you didn't recognise the liability owing to the sundry creditor, or the GST incurred

[accaz]

apparently the sundry creditor is being removed from the exam! :laugh:

[kakar0t]

apparently the sundry creditor is being removed from the exam! :laugh:

Where'd you hear that from??

[mojomojo]

apparently the sundry creditor is being removed from the exam! :laugh:

Remove as in.. the exam is out of 86 now?

[kakar0t]

Damnn i'm going to write an angry letter to vcaa

[Yitzi_K]

apparently the sundry creditor is being removed from the exam! :laugh:

Remove as in.. the exam is out of 86 now?

I doubt they'd remove all 4 marks, at least 2 of those marks should have been got anyway, like the stock control credit and the equipment debit.

[mmmmm]

going by just unit 3 credit purchases dont go in general jounral even if it is NCA. go to 2.3 in the exam question book under cash payments journal in the sundries it includes a payment for equipment so that what i figure backs that up. I took the question of asking what is the value of the NCA as that is part of Unit 3. I wrote:
Equipment                      1100
     Stock Control                        850
     Installation Expense                350

The installation is part of the cost of the NCA as it is paid to get the NCA into a position and condition ready for use.
This is how I took it, correct me if I'm wrong

that's what i did, haha!

[mojomojo]

going by just unit 3 credit purchases dont go in general jounral even if it is NCA. go to 2.3 in the exam question book under cash payments journal in the sundries it includes a payment for equipment so that what i figure backs that up. I took the question of asking what is the value of the NCA as that is part of Unit 3. I wrote:
Equipment                      1100
     Stock Control                        850
     Installation Expense                350

The installation is part of the cost of the NCA as it is paid to get the NCA into a position and condition ready for use.
This is how I took it, correct me if I'm wrong

but then the question is out of 4 marks, which means it should contain 4 things to be assessed on.

that's what i did, haha!