VCE Stuff > VCE Accounting
Last Year's Exam
elaine:
--- Quote from: costargh on June 07, 2008, 03:09:50 pm ---I did the rewritten for current study design 2006 VCAA exam... I made a few errors..
I have a question.
If you have a NCA which is being depreciated (eg. Equipment) and then you purchase more Equipment, how do you go about depreciating them if they are now combined as one item...
--- End quote ---
i just did the 2006 rewritten one. omg i did so many stupid mistakes
is your question in relation to the 2006 question 1.3.2? coz i couldn't get the right answer for that one
costargh:
Yeh I didnt get the answer for that either. Maybe an error in the re-written exam?
elaine:
i got $1700 (well not when i actually did the prac exam, coz i only calculated the new computer-whoops).
Computer- 7000*0.2= 1400
New Computer- [(6000*0.2)/12]* 3 months= 300
therefore 1400+300= 1700
and btw, why did they change the depreciation rate? isn't that a breach of consistency?
i think the solutions also had an error for the stock cards, i just checked the 2006 assesment report.
costargh:
Their was an error on the stock cards. I ticked myself correct cause it was just a subtraction error on their behalf.
I didnt understand that change in depreciation rate either. I think it may be exaplained by the person rewrittin the exam just tryin to fit more of the course in (as u can see, there isnt 90 marks... i think lol)
I included the old computer but it didnt make sense.
Old computer equipment as at 1st Jan 2006 $3000 (COMMENCENT OF BUSINESS OPERATIONS)
The balance sheet extract is 30 June 2005. 7000 less 300 acc dep= 6700 <--- wtf?
How can there be a balance sheet prior to the commencement of the business (maybe it was a personal balance sheet?)
Im not liking it lol
elaine:
--- Quote from: costargh on June 07, 2008, 04:00:11 pm ---Their was an error on the stock cards. I ticked myself correct cause it was just a subtraction error on their behalf.
I didnt understand that change in depreciation rate either. I think it may be exaplained by the person rewrittin the exam just tryin to fit more of the course in (as u can see, there isnt 90 marks... i think lol)
I included the old computer but it didnt make sense.
Old computer equipment as at 1st Jan 2006 $3000 (COMMENCENT OF BUSINESS OPERATIONS)
The balance sheet extract is 30 June 2005. 7000 less 300 acc dep= 6700 <--- wtf?
How can there be a balance sheet prior to the commencement of the business (maybe it was a personal balance sheet?)
Im not liking it lol
--- End quote ---
LOL good pick up! maybe it's actually a psychic business and they had balance sheets even before operations lol
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