Students can Download 1st PUC Accountancy Previous Year Question Paper March 2019 (South), 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 (South)
Time: 3.15 minutes
Max. Marks: 100
- All sub-questions of section – A should be answered continuously at one place.
- Provide Working notes wherever necessary.
- 15 minutes of extra time have been allotted for the candidates to read the questions
- 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 )
Accounting begins with the identification of transactions and ends with the preparation of _________ statements.
Accounting equation is based on
(a) Cost concept
(b) Separate entity concept
(c) Dual Aspect Concept
(d) Accrual concept
(c) Dual Aspect Concept.
A document which provides evidence of the transaction is called
Source document or Voucher.
Cash sales are recorded in
(a) Sales book
(b) Cash book
(d) None of these
(b) Cash book
Trial Balance is a list of balances of all ledger accounts on a particular date [State true or false).
Who is an endorsee?
The person to whom the bill is endorsed is called endorsee.
State any one example for current asset.
Cash, Debtors, Stock.
Give the meaning of incomplete records.
Accounting records which are not strictly kept according to the double entry system is called as incomplete records.
State any one element of computer system.
Hardware, Software Data.
Data Base Management System.
Section – B
II. Answer any FIVE of the following questions. Each carries TWO marks: ( 5 × 2 = 10 )
State any two branches of accounting.
Financial Accounting, Cost Accounting, Management Accounting.
Give the meaning of accounting concept.
Accounting concept refers to the necessary assumption and ideas which are fundamental accounting practice.
Give the rules of debit and credit of asset account.
- Debit increase in Asset.
- Credit decrease in Asset.
State any two causes of differences between cash book balance and pass book balance.
- Cheque issued but not presented for payment.
- Cheque paid into bank but not yet collected.
- Bank charges not recorded in the cash book.
State any two types of errors.
- Error of commission.
- Error of omission
- Error of principle.
What is Depreciation?
Depreciation is a permanent, continuous and gradual shrinkage or decline in the book value of fixed asset.
Give any two examples for revenue receipt.
- Commission received
- Rent received
- Amount received by the sale of goods and services.
What is Hardware?
Hardware means physical components of a computer such as Hardware. Mouse, Monitor and Processor.
Section – C
III. Answer any FOUR of the following questions. Each carries SIX marks : ( 4 × 6 = 24 )
Classify the following in to Assets, Capital, Liabilities, Expenses/Losses and Revenue/ Gains
(a) Capital A/C
(b) Cash A/C
(c) Interest paid A/C
(d) Salary A/C
(e) Creditors A/C
(f) Sales A/C
(g) Machinery A/C
(h) Goodwill A/C
(i) Bills Payable A/C
(j) O/S wages A/C
(k) Discount Received A/C
(l) Stock A/C
Enter the following transactions in a simple cash book.
|01-06-2018||Cash in hand ₹ 12,000|
|05-06-2018||Cash received from Ram ₹ 4,000|
|10-6-2018||Purchase goods from Muruli for cash ₹ 6,000|
|20-06-2018||Sold goods for cash ₹ 9,000|
|25-6-2018||Paid salary ₹ 3,000|
Prepare purchase book from the following transactions:
|01-01-2018||Bought goods from Ramcsh Mysore ₹ 10,000|
|10-01-2018||Purchased goods from Surcsh ₹ 15,000|
|20-01-2018||Purchased goods from Nagendra for ₹ 20,000 at 10% Trade discount|
|25-01-2018||Bought goods from Narcsh ₹ 30,000|
|30-01-2018||Purchased from Vinod ₹ 10,000|
From the following particulars, prepare a Trial Balance as on 31-03-2018.
|(C) Bank loan||20,000|
|(I) Bills receivable||4,000|
|(J) Bills payable||6,000|
From the following balance of Mr. Shankar prepare the trading account for the year ending 31-3-2018.
|Purchase for the Year||3,00,000|
|Sales for the Year||5,00,000|
Find out Credit purchases from the following information by preparing the total Creditors A/C
|Creditors as on 01-04-2017
Creditors as on 5 1-05-2018
Cash paid by Creditors
Return to suppliers
Bills accepted drawn by suppliers
Bills payable dishonoured
Explain any Six limitations of computer accounting system.
- Cost of training
- Staff opposition
- System failure
- Inability to check errors
- Ill effects on health
- Breachery security
Section – D
IV. Answer any FOUR of the following questions. Each carries TWELVE marks: ( 4 × 12 = 48 )
Journalise the following transactions in the books of Mohan
|1-9-2018||Started business with cash ₹ 50,000|
|3-9-2018||opened an account in Canara Bank ₹ 10,000|
|6-9-2018||Cash purchases ₹ 20,000|
|8-9-2018||Bought goods from Radhakrishna ₹ 25,000|
|10-9-2018||Sold goods for cash ₹ 30,000|
|15-9-2018||Sold goods to Bhavana on credit ₹ 23,000|
|18-9-2018||Cash paid to Radhakrishna on account ₹ 15,000|
|25-9-2018||Received Cheque from Bhavana in full settlement of her account ₹ 22,500|
|26-9-2018||Paid rent by Cheque ₹ 2,000|
|28-9-2018||Interest credited to our account at Canara Bank ₹ 300|
|30-09-2018||Paid Salary ₹ 3,000|
Prepare purchase book, sales book, purchase return book, sales return book from the following informalion
|1-8-2018||Bought from Gopal ₹ 50,000 on credit|
|4-8-2018||Murthy sold goods to us ₹ 30,000|
|8-8-2018||Sold goods to Kamath ₹ 60,000|
|12-8-2018||Return goods to Murthy ₹ 2,000|
|15-8-2018||Sold goods to Devika ₹ 30,000|
|20-8-2018||Devika returned goods ₹ 4,000 .|
|22-8-2018||Bought from Harsha subject to trade discount at 20% ₹ 20,000|
|24-8-2018||Returned goods by Kamath ₹ 2,500|
|26-8-2018||Sold goods to Prem ₹ 25,000|
|28-8-2018||Goods returned to Gopal ₹ 1,200|
|30-8-2018||Sold goods to Kiran ₹ 10,000 subject to trade discount at 5%|
|31-8-2018||(roods returned by Prem ₹ 1,550|
From the following particulars, prepare hank Reconciliation statement
(A) Bank balance as per cash book ₹ 7,800
(B) Cheque deposited hut not credited in the pass hook ₹ 3,000
(C) Cheque issued hut not presented lor the payment ₹ 1,500
(D) Insurance premium paid hv hank ₹ 2,000
(E) Bank Interest credited by the hank ₹ 400
(F) Bank charges ₹ 100
(G) Directly deposited hy a customer ₹ 4,000
On 01-04-2013 Tata Company limited purchased a machinery – ‘A’ costing ₹ 1,00,000 on 30-09-2015, the machinery – ‘A’ was sold for ₹ 80,000. On the same date an new machinery – ‘B’was purchased for ₹ 50,000. The firm charges depreciation at 10% pa. under Diminishing balance method: Prepare (a) Machinery A/C and (b) Depreciation A/C for first 4 years.
Profit or loss on sale of Machinery ‘A’
Cost of the machinery ‘A’ 1,00,000 Less: Total Depreciation of Machine “A”
10,000 + 9,000 + 4,050
Prakruthi sold goods to Kavya on credit for ₹ 5,000 on 01-01-2017. On the same day Prakruthi drew a bill of exchange for three months for ₹ 5,000 on Kavya on the due date the bill was dishonoured. Pass Journal entries in the books of Prakruthi and Kavya.
From the following trial balances prepare trading and prolit and loss account and balance sheet for the year ended 31 -3-2018
Trial Balance as on 31-3-2018
1. Closing stock was valued at ₹ 4,000
2. Depreciate furniture by 10% p.a and building by 15% p.a
3. Bad debts written off ₹ 500
4. Salary outstanding ₹ 1,000
Mr. Bharath kepi his book under incomplete records. He provides you the following information
During the Year he withdrew ₹ 15,000 for his daughter marriage expense and invested additional capital of ₹ 18,000.
(a) Write off bad debts ₹ 1,000
(b) Prepaid Salary ₹ 6,000
(c) Appreciate buildings by 20%
(d) Allow Interest on capital (Opening) at 5% p.a.
(a) Statement of Affairs
(b) Statement of Profit or loss
(c) Revised statement of Affairs.
Section – E
V. Answer any TWO of the following questions. Each carries FIVE marks: ( 2 × 5 = 10 )
Drew a diagram of accounting process.
Prepare machinery account for two years with imaginary figures under straight line method.
Prepare a Statement of Affairs with any five imaginary figures.