Students can Download 1st PUC Accountancy Model Question Paper 6 with Answers, Karnataka 1st PUC Accountancy Model Question Papers with Answers helps you to revise the complete Karnataka State Board Syllabus and to clear all their doubts, score well in final exams.
Karnataka 1st PUC Accountancy Model Question Paper 6 with Answers
Time: 3.15 Hours
Max Marks: 100
Instructions:
- 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.
Part -A
I. Answer any EIGHT of the following questions. Each carries ONE mark: ( 8 × 1 = 8 )
Question 1.
What is Entity?
Answer:
Entity means a thing that has a definite individual existence.
Question 2.
State the basic accounting Equation.
Answer:
Assets = iabilities + Capital
Question 3.
Give an example of Voucher.
Answer:
Ex: If we buy goods for a cash we get cash memo / invoice / bill.
Question 4.
In purchase book, goods purchased on ____________ are recorded.
Answer:
Credit
Question 5.
Trial Balance is a part of Book Keeping True / False.
Answer:
False
Question 6.
There are _________ parties to a Bill of Exchange.
Answer:
Three
Question 7.
A surplus of revenue over its cost is known as of the business.
(a) Capital
(b) Profit
(c) Assets
(d) None of the above.
Answer:
(b) Profit
Question 8.
Opening capital is ascertained by preparing.
(a) Total Debtors a/c
(b) Total creditors a/c
(c) Cash a/c
(d) opening statement of affairs
Answer:
(d ) opening statement of affairs
Question 9.
Expand CPU.
Answer:
Central Processing Unit.
Question 10.
What is computerised accounting system?
Answer:
An computerized accounting system is an accounting information system that process the financial transactions and events to produce reports as per user requirement.
Section – B
II. Answer any FIVE of the following questions. Each carries TWO marks: ( 5 x 2 = 10 )
Question 11.
State any two types of Assets.
Answer:
(a) Fixed Assets
(b) Current Assets
Question 12.
What is matching concept?
Answer:
The measurement of the profit or loss, these two factors are matched as compared and resultant balance is taken as the net profit on the net loss is called as matching concept.
Question 13.
State the rules of debit and credit of ‘Capital’ a/c.
Answer:
Debit – decreases in capital;
Credit – Increases in capital.
Question 14.
What is Bank Reconciliation statement?
Answer:
Bank reconciliation statement is a statement which is prepared to reconcile the difference between the bank balance as per the cash book and bank balance as per pass book.
Question 15.
Cive the meaning of Errors of principle.
Answer:
If accounting principle are violated while recording transaction in the books of accounts such errors are known as errors of principle.
Question 16.
Write the formula to calculate depreciation under straight line method.
Answer:
Question 17.
Mention any four items included in Trading Account.
Answer:
- Wages
- Carriage inwards
- Cleaning charges
- Import duty
Question 18.
State any two limitations of Computer system.
Answer:
- Cost of training
- Disruption
Section – C
III. Answer any FOUR of the following questions. Each carries SIX marks : ( 4 x 6 = 24 )
Question 19.
Classify the following Accounts into Assets, Liabilities, Capital, Expenses / Losses, revenue / gains.
(a) Furniture A/c
(b) Drawings A/c
(c) Sales A/c
(d) Bills receivable A/c
(e) O/S Salary A/c
(f) Interest received A/c
(g) Capital A/c
(h) Investment A/c
(i) Stock A/c
(j) Purchase A/c
(k) Creditors A/c :
(l) Bank loan A/c
Answer:
Question 20.
Prepare petty cash Book from the following particulars under Imprest system.
Answer:
Question 21.
Prepare the Sa.les Book for the month of March 2018 in the books of Mahesh Traders.
5-3-2018 Sold 5 bags of wheat Hour @ Rs. 500 each to Darshini Hotel a 5% Trade discount.
12.3.2018 Sold 4 boxes of spices @ Rs. 800 per box to Amar on account and also Spent
Rs. 200 for packing.
19.3.2018 Vishnu bought from us 10 kgs Cotfee powder @ Rs. 700 per kg @ 8% Trade Discount.
20.3.2018 Sold to llarNh 5 kg, of Sugar @ Rs. 35 per bag kg for cash
28.3.2018 Sold 4 bags of Rice @ Rs. 3000 per bag to Rakesh.
Answer:
Note: Sold to Harish on 20.3.18 5 kg of sugar at ₹ 35 per kg will not appear in sales book but it will go to cash book.
Question 22.
Recently the following errors:-
(a) Furniture purchased for Rs. 15000 wrongly debited to purchases A/c,
(b) Credit Sales lo Mohan Rs. 7000 were not posted.
(c) Salary paid Rs. 2000 was debited to Rajesh A/c
(d) Rent paid to Landlord Rs. 1500 was debited to Landlord’s A/c
(e) Cash Sales Rs. 5000 were posted to commission A/c
(f) Repairs to machinery Rs. 1600 debited to machinery A/c.
Answer:
Question 23.
From the following particulars, prepare a Balance sheet as on 31.3.2018:
| a. Buildings 1,50,000 | g. Bank – 20000 |
| b. Stock – 30,000 | h. Creditors – 30000 |
| c. Cash – 30,000 | i. B/P-20000 |
| d. Debtors – 40,000 | j. Bank loan – 20000 |
| e. Capital- 2,50,000 | k. Investment — 40000 |
| f. Bills receivable – 10,000 |
Answer:
Question 24.
Find out credit purchases form (he following information by preparing the total
creditors A/c.
| Creditors as on 1-4-2017 | Rs. 15.000 |
| Creditors as on 31.3.2018 | Rs. 55,000 |
| Cash paid lo creditors | Rs. 80,000 |
| Returns to Supplier | Rs. 5,000 |
| Bills accepted drawn by suppliers | Rs. 20.000 |
| Bills payable dishonoured | Rs. 5.000 |
Answer:
Question 25.
Briefly explain any six factors of Generic considerations before sourcing an accounting software.
Answer:
The types of software are:
- Operating system: An integrated set of specialized program are meant to manage the resources of a computer and also to operate is called operating system.
- Utility Programmes: These are set of computer programmes designed to perform certain supporting operations, such as to format a disk, duplicate a disk etc.
- Application software: These are user oriented programme and developed for performing certain specified tasks such as accounting, inventory etc. .
- Language software: These are the software, which check syntax and eventually translate the source of language.
- System software: These are set of programmes which uses internal functions as reading data from input devices to processed data to output devices.
- Connectivity7 software: These are set of programmes which control a connection between a computer and a service of computer is able to communicate and share the resource and other connected computer.
Section – D
IV. Answer any FOUR of the following questions. Each carries TWELVE marks: ( 4 x 12 = 48 )
Question 26.
Journalise the following transactions of Swaroop Traders.
| 1.1.18 | Commence Business with cash Rs. 1,00,000 and Furniture Rs. 50,000. |
| 5.1.18 | Opened a Bank A/c with Vijaya Bank Rs. 5,000 |
| 7.1.18 | Purchased goods for cash Rs. 12,000 |
| 10.1.18 | Sold goods to Anil Rs. 20,000 |
| 12.1.18 | Goods returned from Anil Rs. 2,000 |
| 15.1.18 | Cash received from Anil 17,500 in full settlement of his Account. |
| 18.1.18 | Cheque received from Roopa Rs. 5,000 |
| 20.1.18 | Paid Rent by Cheque Rs. 1,200 |
| 22.1.18 | Purchase stationery Rs. 200 |
| 28.1.18 | Paid salary Rs. 5,000 |
Answer:
Question 27.
Prepare Double column cash book from the following transactions:-
| 1.7.18 | Cash in hand Us. 17,500 and cash @ bank Us. 5.000 |
| 3.7.18 | Purchased goods for cash Rs. 5,000 |
| 5.7.18 | Received cheque from Jayanthi Rs. 12,000 |
| 7.7.18 | Sold Goods for cash Rs. 8,000 |
| 10.7.18 | Jayanthi’s cheque deposited into Rank |
| 15.7.18 | Purchased goods and paid by cheque Rs. 25.000 |
| 20.7.18 | cash sales Rs. 7,000 |
| 22.7.18 | Deposited into Rank Rs. 15,000 |
| 2.7.18 | Received commission by cheque Rs. 8,000 |
| 30.7.18 | Withdraw for personal use from Rank Rs. 6,000 |
Answer:
Question 28.
From the following particulars of Mr. Vimal, prepare Bank Reconciliation statement as on 31.3.2018
a. Bank balance as per cash Book Ks. 60,000
b. Cheque issued, but not presented for payment Ks. 8,000
c. Dividend on shares collected bv the Bank and credited in the pass book only Rs. 10,000.
d. Bank charges debited in the pass book only Ks. 600.
c. A cheque deposited into bank, but not collected by the hank Rs. 6,000
f. Interest credited in the pass book only Ks. 1000
g. Insurance premium paid directly by the bank understanding advice Ks. 1,000.
Answer:
Question 29.
M/S Patil and company acquired a machinery for Rs. 6,00,000 on 1-4-2014
On 1-4-2016 it purchased another machinery for Ks. 2,00,000.
O 30.09.2016 it sold the machinery which was purchased on 1-4-2014 for Rs. 4,60,000.
Depreciation is charged @ 10% p.a under written down value method. Prepare machinery A/c and depreciation A/e for four years for the year ending 31st march every year.
Answer:
Question 30.
On 1-4-2018 Prakash sold goods to Akash tor Us. 20,000. Prakash drew a three months bill on Akash. Akash accepted the bill and return it. On the same date the bill was endorsed to Praveen. On the due date the bill was duly met. Pass the Journal entries in the books of all the parties.
Answer:
Question 31.
From the following Trial Balance of Ramesh Traders, Prepare Financial Statement for the year ended March 31st 2018.
Adjustments
a. Stock on 31.3.18 Rs. 20,000
b. Rent prepaid Rs. 500
c. Depreciation on Machinery @ 10% p.a
d. Out standing wages Rs. 500
e. Provide provision for doubtful debt @ 5% on debtors.
Answer:
Question 32.
Mr. Ankith kepi his hooks under incomplete records. He provides you the following information.
During the year lie withdrew cash Rs. 13,000 and goods worth Rs. 5,000 for his personal use. He had also introduced Rs. 12,000 as an additional Capital.
Adjustments :
a. Appreciation on Building by 20% p.a.
b. Provide for bad & doubtful debt @ 5% on Debtors.
c. Allow interest on opening capital @ 10% p.a.
d. Depreciation on Machinery by Rs. 3,000
Prepare statement of affairs, statement of profit or loss and Revised statement of affairs.
Combined Statement of Affairs as on 1.4.17 and 31.3.18
Answer:
Section – E
V. Answer any TWO of the following questions. Each carries FIVE marks: ( 2 x 5=10 )
Question 33.
Draft a specimen of Debit Voucher.
Answer:
Question 34.
Prepare Trial balance with 10 imaginary items. Ans: Trial Balance as on 31.3.2018
Answer:
Question 35.
Prepare a specimen of a promissory note.
Answer:
