Last Question... How the **** do you get cost of sales?

[sam.utute]

Didn't the same person write it too?

I'm pretty sure they won't be writing it next year. VCAA will assassinate them. Tonight..

I got 79850 for cost of sales, and 57935 for receipts from debtors. Who else got these?

I had similar, if not the same. Can't remember exactly.

[sooeyy]

I got 79850 for cost of sales, and 57935 for receipts from debtors. Who else got these?

Did you forget the 1000 in your Creditors Control account? That'd be the only diference we have.

I'm pretty sure I put it in.......Hm.

[JinXi]

Didn't the same person write it too?

I'm pretty sure they won't be writing it next year. VCAA will assassinate them. Tonight..

I got 79850 for cost of sales, and 57935 for receipts from debtors. Who else got these?

I had similar, if not the same. Can't remember exactly.

I got the same aswell.

[Stormer]

My mistake, you're probably right.

[Chavi]

I got 79850 for cost of sales, and 57935 for receipts from debtors. Who else got these?

Did you forget the 1000 in your Creditors Control account? That'd be the only diference we have.

I'm pretty sure I put it in.......Hm.

Right - the $1000 worth of Credit purchase returns

[sooeyy]

Didn't the same person write it too?

I'm pretty sure they won't be writing it next year. VCAA will assassinate them. Tonight..

I got 79850 for cost of sales, and 57935 for receipts from debtors. Who else got these?

I had similar, if not the same. Can't remember exactly.

I got the same aswell.

Yay. (Y)

[herrinls]

In the 2009 assessment report, in the general journal they accepted either:
prepaid sales / sales
OR
prepaid sales / sales   AND   COS / stock control

I did this:
Prepaid Sales Revenue      400
   Sales                                  400
Cost of Sales                   168
   Stock Control                        168

[Since COS/sales = 0.42]

[sooeyy]

In the 2009 assessment report, in the general journal they accepted either:
prepaid sales / sales
OR
prepaid sales / sales   AND   COS / stock control

I did this:
Prepaid Sales Revenue      400
   Sales                                  400
Cost of Sales                   168
   Stock Control                        168

[Since COS/sales = 0.42]

*Hi5.

[Chavi]

In the 2009 assessment report, in the general journal they accepted either:
prepaid sales / sales
OR
prepaid sales / sales   AND   COS / stock control

I did this:
Prepaid Sales Revenue      400
   Sales                                  400
Cost of Sales                   168
   Stock Control                        168

[Since COS/sales = 0.42]

Touche. It seems VCAA is symptomatically throwing errors around and expecting students to pick up the pieces. . .(or giving them full marks anyway)/

[Stormer]

In the 2009 assessment report, in the general journal they accepted either:
prepaid sales / sales
OR
prepaid sales / sales   AND   COS / stock control

I did this:
Prepaid Sales Revenue      400
   Sales                                  400
Cost of Sales                   168
   Stock Control                        168

[Since COS/sales = 0.42]

Touche. It seems VCAA is symptomatically throwing errors around and expecting students to pick up the pieces. . .(or giving them full marks anyway)/

Different type of question. That was a part sale, where cost price was given.

[sam.utute]

We prefer

(or giving them full marks anyway)/

[JinXi]

Hmm what did you guys write about why the accountant wanted to know expected sales.. i wrote something to do with relevance and decision making but not sure..

Wrote something like there are many variable cost(C.o.s/stockloss) which are linked to the amount of sales revenue generated for that period. Thus, having an accurate estimation of Sales would ensure that reports are more relevant to decision making.

Not sure if the relevance part is "relevant" or not -.-

[davidxue]

Bank balance at end: -575
Net Profit: 31925

?

[Chavi]

In the 2009 assessment report, in the general journal they accepted either:
prepaid sales / sales
OR
prepaid sales / sales   AND   COS / stock control

I did this:
Prepaid Sales Revenue      400
   Sales                                  400
Cost of Sales                   168
   Stock Control                        168

[Since COS/sales = 0.42]

Touche. It seems VCAA is symptomatically throwing errors around and expecting students to pick up the pieces. . .(or giving them full marks anyway)/

Different type of question. That was a part sale, where cost price was given.

Right, and this was a part credit/prepaid sale without the cost price given. . . In any case, I have a feeling that this may turn out to be a repeat of the mid-years sundry-creditor-fiasco.

[Chavi]

Bank balance at end: -575
Net Profit: 31925

?

Something like that. . . Not to sure about that NP though . .