VCE Accounting Past Exam Questions
Browse VCE Accounting exam questions from 2015–2026, including NHT and VCE papers. Filter by topic, year and paper; open the original source.
Matching results: 665 indexed questions and parts.
Question 1
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Estimated difficulty · Medium
Question 1 (7 marks) FootsRus sells footwear designed for the building industry. One product it sells is the Steelkicks work boot. The business uses the First In, First Out (FIFO)
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Report-based difficulty · MediumAverage marks: 56% of available · official reportFull marks: 32% of students · official report
a. Prepare the General Journal entries to record the transactions on: • 23 January 2023 • 31 January 2023. Narrations are not required. 5 marks Inventory turnover for FootsRus has
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a. Complete the Inventory Card for January. 5 marks a. 5 marks Inventory Card Item: Extremez Bike Cost Assignment Method: Identified Cost Supplier: Pedals Date 2023 Document IN OUT
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Report-based difficulty · EasyAverage marks: 80% of available · official reportFull marks: 67% of students · official report
b. Describe one strategy that the business could use to improve inventory turnover. 2 marks Instructions Answer all questions in the answer book provided. 3 2023 ACCOUNTING EXAM QB
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b. Record the transaction for 18 January in the General Journal. A narration is not required. 3 marks b. 3 marks NX Bikes General Journal Date 2023 Accounts Debit Credit 2023 ACCOU
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c. Calculate the Net Sales of Extremez Bikes for January 2023. 2 marks c. 2 marks Working space Net Sales of Extremez Bikes for January 2023 $
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d. Explain why NX Bikes uses Identified Cost instead of First In, First Out (FIFO) as the inventory cost assignment method. 3 marks Instructions Answer all questions in the answer
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Question 2 (11 marks) FriendsEd is a business that sells educational supplies. The owner has decided to establish a double entry system from 1 January 2023. The following is a list
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Question 2 (8 marks) Brite Goods reports monthly. The following ledger account shows details of Accounts Receivable for March 2023. Accounts Receivable Date 2023 Cross-reference Am
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Report-based difficulty · MediumAverage marks: 46.7% of available · official reportFull marks: 25% of students · official report
a. Prepare the General Journal entry to establish the double entry system at 1 January 2023. Narrations are not required. 3 marks a. 3 marks FriendsEd General Journal Date 2023 Det
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a. Identify the source document used to verify the entries on: • 25 March • 28 March. 2 marks a. 2 marks 25 March 28 March
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Report-based difficulty · DifficultAverage marks: 29.5% of available · official reportFull marks: 16% of students · official report
b. Explain one reason for using a double entry accounting system. 2 marks b. 2 marks Explanation Question 2 – continued 5 2023 ACCOUNTING EXAM AB TURN OVER d o n o t w r i t e i n
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