QCE AccountingPractice Examination 19

This paper covers

• Balance day adjustments (prepayments, accruals, depreciation, doubtful debts) and reversing entries
• General journal and ledger recording in a perpetual GST-registered trading environment
• Fully classified financial statements (Income Statement and Balance Sheet) for a sole trader
• Liquidity ratio analysis - current ratio and acid-test (quick) ratio - for a credit-extension decision
• Profitability and efficiency ratios (GP margin, NP margin, inventory turnover, debtors collection period)
• GST/BAS treatment on trading transactions
• Evaluative decision-making linking calculated ratios to business implications with QCAA cognitive verbs (assess, justify, recommend, conclude)

Students are permitted to bring into the examination the materials normally allowed for this subject. Answer all questions in the spaces provided.

This is an ATARMAxxing practice paper. It is not an official examination and is not affiliated with, endorsed by, or produced by the VCAA, NESA or the QCAA.