Unit 3 VCE Accounting exam feedback
By Heath McGregor on Jun 9, 2009 in VCE Accounting, VCE Exams
Hi all,
How did you find the Unit 3 Accounting exam? How do you think you went?
Let us all know by commenting below. Cheers
(2 votes, average: 4.50 out of 5)
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Louis | Jun 9, 2009 | Reply
I found the Exam wasn’t too bad.
Didn’t have enough time to finish it though
Tray | Jun 9, 2009 | Reply
The exam was very easy, what did everyone get for the rent adjustment(last question)?
josh | Jun 9, 2009 | Reply
fairly easy anywhere I can get some answers?
jono | Jun 9, 2009 | Reply
mmm seemed easy
only cashflow bank balance of “0″ i got wrong
and didnt include “stock gain” in credit sales effects
dammmmit
vivi | Jun 10, 2009 | Reply
Ahhh it was alright I guess. The question about the credit sale that wasn’t recorded really stuffed me up though. I only realised that the other revenue item was Stock gain at 2am this morning whilst I was still struggling to sleep T_T
Tray – I got $8000 for the rent adjustment. Am I right? :S
Oh well, it’s over now. At least I finished. I just hope my theory answers were good enough to get those marks. Blah.
jacqui | Jun 10, 2009 | Reply
yeah i reckon it was a good exam… loved the stock card entry! definite 5 marks there
anyone know when we get our results?
louai | Jun 10, 2009 | Reply
hey guys,
i thought the exam was pretty easy. i got $8000 rent adjustment. What were the 3 effects on profit and loss statement of not recording credit sale?
louai | Jun 10, 2009 | Reply
was the discount revenue at the start $33 for the payment to creditor?
neil | Jun 10, 2009 | Reply
Heyy guyys
i thought the exam wasnt that bad. now i think about it though i think i made some mistakes. wat did everybody get for the cash at start for the cash flow. i got 20,000. is that right? please tell me thats right lol.
Louai i got $55 for the discount revenue for creditor payment but u may be right as a mate got 33 aswell.
Does any body know how much marks u lose if u get something wrong in the report like cash flow.
Ash | Jun 10, 2009 | Reply
For the equities section of the balance sheet question, did u have to include profit and drawings under capital???
rhsy | Jun 10, 2009 | Reply
there was nothing ridiculously hard, like on some practice exams, overall i thought it was okay.. ;P
cloee | Jun 10, 2009 | Reply
Yeah i got 33 for discount revenue as well, not sure if you had to include profit and drawings in the equities section but i did!
And i think we get our results sometime in August.
cloee | Jun 10, 2009 | Reply
And also does anyone know what mark you would need out of 90 to get an A+
Ash | Jun 10, 2009 | Reply
Last year A+ was 78+ but it was a very hard exam. So i would think around 83+ to be a safe A+
Ash | Jun 10, 2009 | Reply
Anyone get $125 for equipment?
I know a lot of people who misinterpreted equities for owner’s equity without giving liabilities.
louai | Jun 10, 2009 | Reply
the depreciation of equipment was $125
louai | Jun 10, 2009 | Reply
how did u guys put then general journal for the mixed wages and electricity expense. i debited electricity($250) gst clearing($25) and the credit wages expense ($275)
yosh | Jun 10, 2009 | Reply
OMG.
the omission of the credit sales question really stuffed me up. stock gain? why stock gain?
in the equities section, yeah you had to include the profit and drawings
Aaron | Jun 11, 2009 | Reply
Cash Flow statement initial balance was $0. (The initial capital entry earlier in the question is part of that 6 month period, (part of the $30,000 capital contribution)
And yes, it was an easy exam. =)
louai | Jun 11, 2009 | Reply
The opening balance of the cash flow statement was $20000. it was contributed as cash into the business account on the 1st ofjanuary.final balance was $33,300
how much did u guys get for rent expense?
cloee | Jun 11, 2009 | Reply
Not sure what i got for rent expense but i had the same cash flow statement figures as you louai
cash balance | Jun 11, 2009 | Reply
Wait, so was the cash balance $0 or $20000?
Elle | Jun 11, 2009 | Reply
hey, you know the comemnecing entries then there was the cash recipets journal but not receipt number what did you all do?
Joel | Jun 12, 2009 | Reply
the cash balance at start in the cash flow is zero. THe capital contribution at strt of teh reporting period was included in the cash journal for the 6 motnhs ended that year. The two capital contributions in the sundries column included teh one made in JAN 1.
Joel | Jun 12, 2009 | Reply
rent expense was $8000 im sure. and the falling prices one i was unsure although i knew it was gonna come on the exam. Prior to the exam i asked everyone about it and i got mixed answers.
Mel | Jun 12, 2009 | Reply
Omg, I’m reading through all this realising how much I stuffed up, and I thought I did alright!
I found it easier than last years, but I didn’t like the worded questions.
louai | Jun 15, 2009 | Reply
what did u guys get for opening cash flow balance?
Misa | Jun 15, 2009 | Reply
It was alright, in my class of about 15 students, only 2 had finished on time. I had like 20 mins to check + corrected some mistakes so I was freaking out a bit ‘cos I hadn’t looked at them all , huhuhu
krissy | Jul 10, 2009 | Reply
anyone know when we get our results?
Yogo | Jul 11, 2009 | Reply
The exam wasn’t too difficult but I found that it was far too long, they didn’t give us enough time to properly think about the questions. I spent way too much time on question 1, aced it, and then panicked when I realised that I probably wouldn’t finish the exam… There were a few little tricks at the end, once again no time to think about them. I blitzed about half of the 2nd question and couldn’t finish the last page… I’m really disappointed because my Accounting SACs are top of my class! >.<
Yogo | Jul 14, 2009 | Reply
August 3rd is the date the results are released as far as I know…
Accexam | Jul 15, 2009 | Reply
bank balance is zero.
what qualitative characteristic u guys got for statement of accounts from other business ?
im pretty sure its comparability but most people put reliability.
Michelle | Aug 2, 2009 | Reply
OMG we get our results 2morow!!
bal | Aug 3, 2009 | Reply
‘accexam’, i got comparability too. the RESULTS came out today !!
why would it be reliability ??
and questions 1.6 why the residual value is deducted from the cost price when determing the depn’ expense ???
and 2.2.2 explain the effect on net profit on using the FIFO cost assignment method at a time when suppliers prices are falling
Elle | Aug 3, 2009 | Reply
hey everyone scores are back what did you all get??
bal | Aug 4, 2009 | Reply
i got B+ …
which is around 75 ish you guys reckon ??
anyone Aced it ???
there used to be a glimmer of hope. now its a fraction !
smilejenjac | Aug 4, 2009 | Reply
A+
Anonymous | Aug 6, 2009 | Reply
A+ here =)
umesh singh | Aug 14, 2009 | Reply
yaaaaay i got a+ in accounting, a+ in chemistry and b+ in physics ….. fairly happy…..
Dee | Aug 15, 2009 | Reply
B+
Luke99 | Aug 27, 2009 | Reply
does anyone know where the mid-year exam results are? ive searched the vcaa website and cant find it
What?!? | Sep 3, 2009 | Reply
This was easy peasy Japaneeze
C | Sep 13, 2009 | Reply
i only got an A and am still cut..does anyone know when Exam 1 results are published?
thanks