Had a hard night. Put a lot of effort on accounting.
Memorising principles ....

Sat for my accounting paper 10 minutes ago.
1st question.Still manage to do it. Second question is about trial balance.
The terms used in the transactions were so confusing.
I failed to balance the trial balance account with a very distinctive amount!

I was thinking. Is bad debt an current assets or current liabilities?
Because if debtor is a current asset..well, he will pay within 12 months.
But then if bad debt. We doubt that he won't be paying. He could be an expense.
But the bad debt can be considered as a future economic sacrifices (liabilities) too!

I think bad debt is expense. So, it will be in the debit.

Siao! I put it in credit row la!

Then, more definitions on principles and such. The last question was total confusion!
I think I did it wrongly. very bad! Just because I am too naive and I carelessly misintepret the question.I mixed up with accumulated depreciation with the depreciation expense! I recorded both!

I think I flunk my accounting paper. It's the first accounting paper that I had in my life.
I need serious accounting tutorial and practices.


sigh. I am really stupid.But I will try harder next time.Because accounting is supposed to be easy!
thank God, this is the last topic test for this month.The expository essay was ok.
I am not motivated to do anything else now.
Malaysian studies presentation later. Oscar will handle it.



not fun.
comment?