Income Statement and Balance Sheet

Hi all,

This is the final set. Please upload an updated version of your summary after updating based on my comments.

Trial Balance Answers revealed

Hi all,

This is the answer set number 2

Journal and ledger answers for the Holiday work

Hi all,

This is the first set of the answers that is from the holiday homework. Please don't forget to upload into ask and learn your summary for these 2 topics. If I don't get it, your parents will be called for those who are compulsory.

Answer to Income Statement and Balance Sheet

These are the answers vetted for the edited question. Remember question 3 the inventory should be $4030, ie, the original question was correct.

errata in revision pack question

Dear all,
Lenny alerted me to an error in the questions so I went through the questions and corrected the errors due to some changes made to the questions. Below are the corrected versions of the questions please help spread the word around.

Unit 13 Additional info and summary

Common Test

Common Test will be on 19 Aug Tuesday during lesson at the AVA. The topics covered will be everything related to Income Statement and Balance Sheet up till adjustments for accrual and prepayment of both income and expenses. Depreciation is not included. It will also include the topic of trade receivables and trade payables, the need to know ledger entries of purchases, sales, returns and trade and cash discounts and how to handle them with respect to the trade receivables and trade payables accounts (something like the SA1 question)

Discussion Question

A machine bought in 2009 was sold on 2013 at $11,000 cash. The company practices a reducing balance depreciation at 10% per annum for a full year on all assets bought on that year and no depreciation on the year of sale. Prepare the Sale of Non-current Asset account for this machine.

Make up test

Please be informed that there will be a test on the 1 Aug Friday after school at 1240 in the same room especially for those who missed it last week. It will be on accrual and prepayment.

The answers for the previous test is below for your reference:

Remedial for test failures

Please be reminded that the remedial for those who failed the test will start next week Wednesday during your recess in the same roomas lessons.
The following are the rough schedule for the sessions.

9, 11 Jul Classifications of assets, liabilities and owner's equity, changes as a result of transaction and Dr/Cr
14,16, 18 Jul Journal entries including purchases/sales, returns, trade receivables/payables, Special journals
21, 23, 25 Jul Ledger entries including discounts, source documents
30 Jul, 1 Aug Trial balance with adjustments

Tentatively, 4, 6, 13, 15, 18 Aug Income statements and balance sheet

Review of semester 1 test

With the release of the time table ur test has been confirmed on 1 July during the double period. The topics are income statement, balance sheet, ledger entries, source document, types of special journal and theory.

Remember, those who fail will be doing some remedial with me during ur recess.

Preparing yourself for school reopen

You are to try and attempt the 2 school papers and 3rd set of questions (only compulsory for those scoring 60 and less in SA 1). Some amendments, Fajar paper 2 Q1 (ignore the additional information I and II), Fajar paper 2 no need to do Q2 and Yuan Ching paper no need to do Q4.

I will be releasing the answers progressively from week 3 onwards.

Test on 8 April

There will be a test on Income Statement and Balance Sheet on the 8 April during lesson time. Friday consultation will still be on from end of your paper till 3pm

The Revision Question

Files not yet handed in

The following have yet to submit their files for the file check:

Kylie, Linus, Javier, Marc, Zi Xuan

Relocation of summary and reflection

In view of the limitations of the comments in blogs, I have shifted the topics to the school Ask and Learn portal. You will find these topics in the forum page, reply and comment there by end of next week (25 April), if not you shall stay back in school to do the summary before going home to post it.

Topic reflection - Balance Sheet

In this place, it would be good for you to leave a comment as a summary of your learning of this topic or the specific difficulties you have. Be creative, your summary can be a comment in words, a video you can upload to youtube and share the link or even a picture you draw and upload here.

Topic reflection - Income Statement

In this place, it would be good for you to leave a comment as a summary of your learning of this topic or the specific difficulties you have. Be creative, your summary can be a comment in words, a video you can upload to youtube and share the link or even a picture you draw and upload here.

Topic reflection - Trial Balance

In this place, it would be good for you to leave a comment as a summary of your learning of this topic or the specific difficulties you have. Be creative, your summary can be a comment in words, a video you can upload to youtube and share the link or even a picture you draw and upload here.

Topic reflection - Ledger

In this place, it would be good for you to leave a comment as a summary of your learning of this topic or the specific difficulties you have. Be creative, your summary can be a comment in words, a video you can upload to youtube and share the link or even a picture you draw and upload here.

Topic reflection - Journal / Double entry

In this place, it would be good for you to leave a comment as a summary of your learning of this topic or the specific difficulties you have. Be creative, your summary can be a comment in words, a video you can upload to youtube and share the link or even a picture you draw and upload here.

Example 8.3 for your notes

Dear everyone,

Here is the answer to the example, do pay careful attention to the adjustment figures in brackets.

homework

Workbook Chapter 9 Ex 3 Q2 to Q6

The following students are to report for remedial class on Fri 7 March at 1240pm at the Humanities room: Javier, Marcus, Gek Hui, Si Qing, Abigail and Marc Lee The following students' attendance is optional but advised: Priscilla, Thiness wary and Yangli

Answers to Unit 4 and Unit 6 Exercises

Here are the answers to the 2 units of exercises:

POA Unit 04 Exercise Answers

POA Unit 06 Exercise Answers

Workbook Revision

Workbook Revision is looking at Chapter 4 Exercise 3 Question 3 and 4

Those who have submitted the Trial Balance assignment so far: Gerald and Marcus Ammar Mathuri and Thiness Lenny and Gek Hui Anastasia and Jessica Zi Yi and Wang Qian Brian Quek Shanel Lim Liang Ying Jacelyn Claudia Kylie and Si Qing Zi Xuan

Files to be submitted after common test for checking.

test

on Friday 21feb after school (12:40pm) in humanities room

homework

21 feb Friday must pass up the poa pair work project

Everyone, just in case you missed the announcement, POA common test topics will be Units 1, 2, 3, 4 and 6. Work out the exercises in your homework again, know where you made your mistakes and you will be fine. Can you make sure that the Accounts file be handled in by Tues, 18 Feb through Linus or pass it to me direct? The preparation for Unit 5 lesson is the picture below:

file check change due date

File Checking will change to 18 feb. Test is for unit 2 change to 13 feb as well.

Welcome to POA 2014!!

Hi everyone,

Please follow this page so that you will be updated on all that is going on and be notify and reminded of assignment due and upcoming tests!

As a starter:

Assignment for Unit 1 due on 20 Jan (Mon)
The following have yet to submit:
Linus Ng

Assignment for Unit 2 due on 21 Jan (Tues)
Most students have yet to submit

Assignment for Unit 3 due on 28 Jan (Tues)

Test on Unit 1: 28 Jan (Tues) - changed due to the new time table
Test on Unit 2: 11 Feb (Tues) - changed due to the new time table

John Kok