this is another extremely boring day.
AFA1 cA1 was at 5 to 6pm, and i must say, its one of the easiest tests set, ever.

i think that must be attributable to the fact that our lecturer, is kind of a .. 'student-lecturer'.
what i mean by this is that he sees problems from a student's point of view..
and try to make life easier for us.

for example,

dr leased equipment
cr lease payable

dr depreciation
cr accumulated depreciation

for the entire 3 or 4 years, depending on the question.
normally, we would be required to write out the journal entries for each year.
however, what he said struck a chord with me.

"i am not testing you if you can write out the journal entries 3 or 4 times. what i want to know is if you can identify which account to post to."

wow. which teacher places himself/herself in the shoes of the students?
hahaha.
impressed. glad. surprised. i am.

so, the JE would turn out to be:
20x2 20x3 20x4 20x5
dr leased equipment XXX XXX XXX XXX
cr lease payable XXX XXX XXX XXX

dr depreciation XXX XXX XXX XXX
cr accumulated depreciation XXX XXX XXX XXX


shortcut.
acceptable during the exams, cause he/she is marking it.
cool.
this is one heck of a lecturer.