Unit 4 VCE Accounting

1. VCE ACCOUNTING
UNIT 4 – CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE
OUTCOME 1B – INVENTORY VALUATION AND BALANCE-DAY ADJUSTMENTS FOR REVENUE
Version 1a Page | 1
Name
OUTCOME 1B
Question 1 – Sporting Life
a)
General Journal
Date Particulars General Ledger Subsidiary Ledger
Debit $ Credit $ Debit $ Credit $
1 mark
b)
Accumulated depreciation at 28 February 2016 =
3 marks
c)
Disposal of Delivery Van
5 marks

2. VCE ACCOUNTING
UNIT 4 – CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE
OUTCOME 1B – INVENTORY VALUATION AND BALANCE-DAY ADJUSTMENTS FOR REVENUE
Version 1a Page | 2
Question 2 – Greenfinger Nursery
a)
Calculation
Accumulated Depreciation = $
2 marks
b)
Calculation
Depreciation Expense = $
2 marks
c)
Computer System
Disposal of Computer System
3 + 4 = 7 marks

3. VCE ACCOUNTING
UNIT 4 – CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE
OUTCOME 1B – INVENTORY VALUATION AND BALANCE-DAY ADJUSTMENTS FOR REVENUE
Version 1a Page | 3
Question 3 – Findlay Builders
a)
Calculation
Depreciation expense for year ended 30 June 2015 = $
Calculation
Depreciation expense for year ended 30 June 2016 = $
1 + 1 = 2 marks
b)
i
ii
3 + 3 = 6 marks

4. VCE ACCOUNTING
UNIT 4 – CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE
OUTCOME 1B – INVENTORY VALUATION AND BALANCE-DAY ADJUSTMENTS FOR REVENUE
Version 1a Page | 4
c)
Discuss
4 marks
Question 4 – Denise’s Quilts
a)
Depreciation method
Accounting principle
Justification
1 + 1 + 2 = 4 marks
b)
Calculation
Depreciation expense for year ended 31 December 2013 = $
2 marks

5. VCE ACCOUNTING
UNIT 4 – CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE
OUTCOME 1B – INVENTORY VALUATION AND BALANCE-DAY ADJUSTMENTS FOR REVENUE
Version 1a Page | 5
c)
Calculation
Estimated useful life of asset =
2 marks
Question 5 – Gym World
a)
Explanation
3 marks
b)
Cash Receipts Journal
Date Details
Receipt
Number
Bank $
Debtors
Control $
Cost of
Sales $
Sales $
Sundries
$
GST $
1 mark
c)
Sales Journal
Date Debtor
Invoice
Number
Cost of
Sales $
Sales $ GST $
Debtors
Control $
General Journal
Date Particulars General Ledger Subsidiary Ledger
Debit $ Credit $ Debit $ Credit $
3 + 1 = 4 marks

6. VCE ACCOUNTING
UNIT 4 – CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE
OUTCOME 1B – INVENTORY VALUATION AND BALANCE-DAY ADJUSTMENTS FOR REVENUE
Version 1a Page | 6
d)
Prepaid Sales Revenue
3 marks
e)
General Journal
Date Particulars General Ledger Subsidiary Ledger
Debit $ Credit $ Debit $ Credit $
Cash Receipts Journal
Date Details
Receipt
Number
Bank $
Debtors
Control $
Cost of
Sales $
Sales $
Sundries
$
GST $
2 + 2 + 2 = 6 marks
f)
Explanation
3 marks
Total /60 marks
**** END OF OUTCOME ****