1st PUC Accountancy Previous Year Question Paper March 2019 (North)

Students can Download 1st PUC Accountancy Previous Year Question Paper March 2019 (North), Karnataka 1st PUC Accountancy Model Questions with Answers helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations.

Karnataka 1st PUC Accountancy Previous Year Question Paper March 2019 (North)

Time: 3.15 minutes
Max. Marks: 100

Instructions:

  1. All sub-questions of section – A should be answered continuously at one place.
  2. Provide Working notes wherever necessary.
  3. 15 minutes of extra time have been allotted for the candidates to read the questions
  4. Figures in the right hand margin indicate full marks.

Section -A

I. Answer any EIGHT of the following questions. Each carries ONE mark: ( 8 × 1 = 8 )

Question 1.
Accounting begins with the identification of transactions and ends with the preparation
of _________ statements.
Answer:
Financial.

Question 2.
Accounting equation is based on
(a) Cost concept
(b) Separate entity concept
(c) Dual Aspect concept
(d) Accrual concept
Answer:
Dual Aspect concept.

Question 3.
The process of transferring journal entry to individual accounts is called _________.
Answer:
Ledger Posting.

Question 4.
Goods purchased on cash are recorded in this
(a) Purchases Book
(b) Sales Book
(c) Cash Book
(d) Purchases Returns book
Answer:
(c) Cash book.

KSEEB Solutions

Question 5.
Trial balance is a statement (State True/False).
Answer:
True.

Question 6.
State any one feature of Bills of Exchange.
Answer:

  1. It must be in writing
  2. It is an order to make payment.

Question 7.
Give an example for Fixed Assets.
Answer:
Building a/c or Machinery a/c.

Question 8.
Give the meaning of Adjusted Closing Capital.
Answer:
Adjusted closing capital = (Closing capital + drawings – additional capital).

Question 9.
Expand ‘MIS’.
Answer:
Management Information System.

KSEEB Solutions

Question 10.
Write any one type of Accounting Software
Answer:

  1. Tally
  2. Business Accounts(or)
  3. Excel

Section – B

II. Answer any Five of the following questions. Each carries TWO marks: ( 5 × 2 = 10 )

Question 11.
Define Accounting.
Answer:
It is the art of recording, classifying and summarising in a significant manner and in terms of money transactions and events which are in part atleast of financial character and interpreting the results thereof.

Question 12.
State any two differences between single entry and double entry system of book keeping
Answer:
Single Entry System:

  1. It is an unscientific method.
  2. It is incomplete system of accounting

Double Entry System:

  1. It is a scientific method.
  2. It is complete system of accounting

KSEEB Solutions

Question 13.
Write the rules of debit and credit of Liabilities accounting
Answer:

  • Rules for Debit & Credit of liabilities a/c
  • Debit decreases.
  • Credit increases.

Question 14.
What is Bank Reconciliation statement?
Answer:
It is a statement showing the difference between Cashbook balance and pass book balance are found out and suitable adjustments are made to reconcile each other.

Question 15.
Give any two examples for errors of commission.
Answer:

  1. Credit Sales to Mohan ₹ 10,000 were recorded as ₹ 1,000 in the sales book
  2. Credit purchases from ₹ Kiran 5,000 were recorded as ₹ 500 in the purchase book.

Question 16.
Name any two types of reserves.
Answer:

  1. General Reserve
  2. Capital Reserve
  3. Revenue Reserve

Question 17.
What is capital expenditure?
Answer:
Capital expenditure is an expenditure in which benefit of expenditure extends more than one accounting period. It is non recurring in nature.

KSEEB Solutions

Question 18.
What do you mean by report?
Answer:
Report is a document in written / printed form which presents information in an organized manner to the management for decision making.

Section – C

III. Answer any FOUR of the following questions. Each carries SIX marks : ( 4 × 6 = 24 )

Question 19.
Classify the following accounts into Assets. Liabilities, Capital, Revenue/Gains and – Expenses/Losses.
a) Drawings A/c
b) Sales A/c
c) Purchases A/c
d) Cash A/c
e) Salaries A/c
f) Buildings A/c
g) Machinery A/c
h) Creditors A/c
i) Purchases Return A/c
j) Bills receivable A/c
k) O/S wages A/c
l) Interest on Investment A/c
Answer:
a) Capital A/c – Drawings A/c
b) Revenue A/c – Sales A/c
c) Expenses A/c – Purchases A/c
d) Assets A/c – Cash A/c
e) Expenses A/c – Salaries A/c
f) Assets A/c – Buildings A/c
g) Assets A/c – Machinery A/c
h) Liabilities A/c – Creditors A/c
i) Expenses A/c – Purchase return A/c
j) Assets A/c – Bills Receivable
k) Liabilities A/c – O/S Wages
l) Revenue A/c – Interest on Investment

KSEEB Solutions

Question 20.
Enter the following transactions in an Analytical Petty Cash Book:

01-04-2018 Received cash from main cashier ₹ 1,000
06-04-2018 Paid for postage stamps ₹ 240
12-04-2018 Purchased stationery ₹ 220
18-04-2018 Taxi Hire charges paid ₹ 140
26-04-2018 Paid for printing ₹ 300

Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 1
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 2

Question 21.
From the following transactions prepare sales book for the month February 2018 in the books of Priyanka Traders.

2018
Feb. 05 Sold 4 bags of Wheat flour at ₹ 500 each to Ashoka Hotel.
Feb. 12 Sold 2 boxes of spices at ₹ 800 per box to Amar on account.
Feb. 18 Vikas bought from us 5 kg. coffee powder at ₹ 700 per kg trade discount at 8%.
Feb. 20 Sold to Hema 5 kgs of sugar at ₹ 35 per kg for cash.
Feb. 28 Sold 4 bags of rice at ₹ 3,000 per bag to Rajesh.

Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 3

KSEEB Solutions

Question 22.
From the following ledger balance, prepare the Trial Balanee as on 31st March 2018.

S.No. Particulars Balance (₹)
1. Purchases A/c 95,000
2. Sales A/c 1,36,000
3. Bank Loan A/c 20,000
4. Machinery A/c 50,000
5. Cash A/c 46,000
6. Capital A/c 1,00,000
7. Debtors A/c 80,000
8. Creditors A/c 17,000
9. Bills Receivable A/c 4,000
10. Bills Payable A/c 2,000

Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 4

Question 23.
Compute cost of goods sold for the year 2017.

Particulars Amount (₹)
Stock on 01-04-2016

Stock on 31-03-2017

Purchases during the year

Sales during the year

Wages

3,00,000

4,00,000

15,00,000

20,00,000

1,20,000

Answer:
Cost of goods sold = opening stock + purchases + direct expenses – closing stock
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 5

KSEEB Solutions

Question 24.
Find out the Credit Sales by preparing Total Debtors Account.

Particulars Amount (₹)
Opening balance of Debtors 35,000
Closing balance of Debtors 42,000
Sales returns 2,000
Cash received from Debtors 50,000
Discount to customers 3,000

Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 6

Question 25.
Briefly explain any Six advantages of computerised Accounting system.
Answer:

  1. Speed
  2. Accuracy
  3. Reliability
  4. Up-to-date
  5. Real time user-interface
  6. Legibility.

Section – D

IV. Answer any FOUR of the following questions. Each carries TWELVE marks: ( 4 × 12 = 48 )

Question 26.
Journalise the following transactions in the hooks of Shri Naresh

April – 01 Started business with cash ₹ 1,00,000
April – 03 Cash paid into hank ₹ 30,000
April – 06 Cash purchases ₹ 30,000
April – 10 Sold goods to Mohan ₹ 20,000
April – 13 Goods returned from Mohan ₹ 3,000
April-15 Received commission ₹ 2,000
April – 18 Drew from hank for personal use ₹ 3,000
April – 20 Cash received from Mohan in full settlement of his account ₹ 16,500
April – 26 Paid Rent by cheque ₹ 4,000
April – 28 Purchased furniture from Kishor ₹ 10,000
April – 30 Paid for salary ₹ 5,000

Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 7
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 8

KSEEB Solutions

Question 27.
Record the following transactions in Two-column Cash Book of Mr. Sagar and balance it.

May – 01 Bank balance ₹ 50,000
May – 01 Cash balance ₹ 10,000
May – 02 Paid insurance premium by cheque ₹ 8,000
May – 05 Cash sales ₹ 25,000
May – 08 Cash purchases ₹ 18,000
May – 10 Cash deposited into Bank ₹ 19,000
May – 12 Telephone Bill paid by cheque ₹ 2,500
May – 15 Withdrawn cash from bank for personal use ₹ 5,000
May – 16 Cash withdrawn from bank for office use ₹ 10,000
May – 20 Received a cheque from Anand ₹ 10,500 and deposited into bank
May- 24 Cartage paid in cash ₹ 1,500
May – 30 A cheque received from Kumar ₹ 5,000

Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 9
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 10

Question 28.
From the following information prepare Bank Reconciliation Statement as on December 31, 2017.
a) Bank balance as per cash book ₹ 20,000
b) Cheque issued but not presented for payment prior to Dec. 31, 2017 ₹ 4,000
c) Interest on investment collected by the bank and credited in the passbook only ₹ 2,000.
d) Bank charges debited in the passbook only ₹ 100.
e) Cheque paid into bank, but not cleared before December 31,-2017 ₹ 3,000.
f) Interest credited in the passbook only ₹ 400
Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 10

Question 29.
On 01-01-2014 a firm purchased Machinery Costing ₹ 80,000. On 01-07-2016, it sold the machinery for ₹ 60,000 and on the same date a new machine was purchased for ₹ 20,000. Depreciation was charged annually at 10% pa. on Straight Line Method.
Accounts are closed on 31st March every year. Show the Machinery account and Depreciation Account for first Four years.
Answer:
Calculation of profit or loss on sale of Machinery
Machinery purchased on 1.1.2014
Costing ₹ 80,000
Depreciation charged for
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 12
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 13
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 14
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 15

KSEEB Solutions

Question 30.
On 01-04-2015 Sadhana drew a bill nil Savitlia for ₹ 50,000 payable after 3 months. Savitha accepted the bill and returned it to Sadhana. On the same date, Sadhana – endorsed the bill to Kumar. On the above date, the bill is discounted by Kumar at 12% p.a. on the due date the bill is honoured.
Pass the Journal Entries in the books of Sadhana. Savitha and Kumar.
Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 16
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 17
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 18
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 19

Question 31.
From the following Ledger balances and adjustments, prepare Trading and Profit and Loss A/c and a Balance Sheet.
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 20
Adjustments :
1) Stock as on 31st March 2018, was ₹ 10,000.
2) Insurance prepaid ₹ 100.
3) O/S salaries ₹ 200.
4) Depreciate buildings by 5% p.a.
5) Provide PBD at 5% p.a. on debtors.
Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 21

KSEEB Solutions

Question 32.
Sonali keeps her hooks under single entry system. From the following information, prepare statement of Profit and Loss and a Revised Statement of Affairs as on 31st March 2018.
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 22
During the year Sonali withdrew ₹ 500 per month from the business for her private use and also used goods worth ₹ 1,000 for household purpose. She had brought in ₹ 5,000 as additional capital during the year.
Adjustments:
1) Furniture is to be depreciated by 10% p.a.
2) Provide Interest on Capital at 5% p.a. on opening capital only.
3) PBD is to be created at 5% p.a. on debtors.
4) Commission Receivable ₹ 1,200
Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 22

Section – E

V. Answer any TWO of the following questions. Each carries FIVE marks: ( 2 × 5 = 10 )

Question 33.
Write the accounting Equation for each item and find out the missing figures
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 24
Answer:
(a) Capital = Assets – Liabilities
= 150,000-60,000 = 90,000
(b) Liabilities = Assets – Capital
= 1,00,000-55,000 = 45,000
(c) Assets = Liabilities + Capital
= 34,000 + 46,000 = 80,000

Question 34.
Prepare a Machinery Account for two years with imaginary figures under written down value method.
Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 25

KSEEB Solutions

Question 35.
Prepare a Specimen of Promissory Note.
Answer:
1st PUC Accountancy Previous Year Question Paper March 2019 (North) image - 26

Leave a Comment

error: Content is protected !!