VCE Accounting Question Thread!

[DoctorTwo]

Is the answer for vcaa 2018 nth q2b wrong, because it was a stock gain and you’re supposed to value it at the lowest cost? Also for sales returns, do you use reverse FIFO?

Stock gains are valued at the lowest cost price on hand when the adjustment is made, and since there was only one cost price on hand, the answer can't be wrong. But yes, if there were multiple cost prices on hand, stock gains would be valued at the lowest. And yes, for sales returns you do reverse FIFO. (ie. last cost price in the out column.)

[m2121]

For accounting exam, can we write everything in pencil ?? A bit unsure of what I should use - either pen or pencil

[Maddyv11]

I’m bringing in both; pen for theory and then pencil for prac and also highlighter for budgeting!

[ooft123]

I have my sac this coming Tuesday for vce unit 1 accounting and for some reason my teacher hasn't given us a practice sac yet and told us we'll be getting one the day before the sac which I won't be able to do cause of work. If someone has a past sac for unit 1 vce accounting i could have that would be amazing <3

[dunno2012]

Hi guys, i just finished my last SAC for Accounting Unit 3, my average is currently 87% and I am assuming it will go to 89% after the last SAC. I aim to get a 90%+ average for my unit 4 SACs and around 90%+ for the exam. What study score would i possibly get?

Thanks,
Anonymous

[dunno2012]

I’m bringing in both; pen for theory and then pencil for prac and also highlighter for budgeting!

Hello!
I realised that you received 41 for Accounting, may I ask what SAC averages you got for unit 3 and unit 4 and the exam. Sorry if this is a bit weird, I just need some examples of SAC scores that lead to 40+.

Thanks so much,
Anonymous

[mathsfailure]

just wondering if it is worthwhile to create notes for a subject like accounting or would it just be more useful to do the exercises and practice?

[Seamus Wong]

just wondering if it is worthwhile to create notes for a subject like accounting or would it just be more useful to do the exercises and practice?

Both

[Cici201811]

Can anyone help me with vcaa 2018 exam question number 5 d please?  Should the final debit for the van be $45000 not $55000 because it should minus the trade in of $10000?

[Seamus Wong]

Can anyone help me with vcaa 2018 exam question number 5 d please?  Should the final debit for the van be $45000 not $55000 because it should minus the trade in of $10000?

Yeah u is right. it should be 45k. It's different in the 2018 exam answers cos they had Sundry creditors.

[Cici201811]

Yeah u is right. it should be 45k. It's different in the 2018 exam answers cos they had Sundry creditors.

Thank you so much

[RB04]

If there are two different cost prices, do we have to combine the numbers in the total column of the inventory card? The answers to past VCAA exams have them as one number.

[miyashiro]

I'm pretty sure either is fine.

[pahm]

Does anyone have experience with completing accounting 1&2 or 3&4 through virtual school victoria? Was the program well run? What is the general structure of doing a subject through distance? Sorry for all the questions!!

[pahm]

Does anyone have experience with completing accounting 1&2 or 3&4 through virtual school victoria? Was the program well run? What is the general structure of doing a subject through distance? Sorry for all the questions!!

Bump!