Karnataka 1st PUC Model Question Paper for Accountancy

SAMPLE PAPER

Karnataka
Board
Model Paper

Model Question Paper

FIRST YEAR P.U.C
ACCOUNTANCY (30)
Time: 03 Hours (Total No. of questions:32) Max. Marks: 80

Instructions:
1.The question paper contains four parts A, B, C, and D.
Part-A contains four Sections I, II, III and IV.
2. Provide working notes wherever necessary.
3. 15 minutes extra has been allotted for candidates to read the questions.
4. Figures in the right hand margin indicate full marks.
5. For Part-A questions, only the first written answers will be considered for evaluation.
PART –A
I. Choose the correct answer from the choices given: (5×1=5)
1. Accounting equation is based on,
a. Cost concept
b. Separate entity concept
c. Dual aspect concept
d. Accrual concept

2. Which of the following is correct?
a) Capital = Assets – Liabilities
b) Assets = Liabilities – Capital
c) Capital = Assets + Liabilities.
d) Liabilities = Assets + Capital

3. Favourable bank balance means:
(a) Credit balance in the cash book
(b) Debit balance in the cash book
(c) Credit balance in passbook
(d) Both (a) and (c)

4. The financial statements consist of:
a) Trial balance
b) Profit and loss account
c) Balance sheet
d) both (b) and (c)

5. If the insurance premium paid ₹ 1,000 and pre-paid insurance ₹ 300.
The amount of insurance premium shown in profit and loss account will be:
a) ₹ 1,300
b) ₹ 700.
c) ₹ 300
d) ₹ 1,000

II. Fill in the blanks by choosing the appropriate answers from those given in the
brackets: (5×1=5)
(credit, closing entry, revenues, income statement, rectifying entries, original entry)
6. Matching Concept states that expenses incurred in an accounting period should be
matched with ______during that period.
7. Journal is a book of _______________.
8. Cash book does not record the __________transactions.
9. Journal entries passed to correct errors are called _________.
10. Trading and Profit and Loss account, also known as ______.

III. Match the following: (5×1=5)
11. A B
a) Management accounting i) Single Column Cash Book
b) Imprest system ii) cost of unsold goods
c) Errors of commission iii) Obsolescence
d) Causes of depreciation iv) Petty Cash Book
e) Closing stock v) wrong posting of transactions
vi) Branches of Accounting

IV. Answer the following questions in one word or one sentence each: (5×1=5)
12. Expand AAA.
13. A contra entry appears on both side of cash book. (State True or False)
14. State any one cause of difference occurred due to time gap.
15. Give one example of specific reserve.
16. Write the meaning of bad debts.

PART-B
V. Answer any three questions. Each question carries 2 marks: (3×2=6)
17. State any two objectives of Accounting.
18. Give the meaning of IGST.
19. Give any two examples for errors committed by the firm in cash book.
20. State any two differences between Profit & Loss A/c and Balance Sheet.
21. Give the journal entry for the following adjustment:
a) Depreciate furniture by ₹5,000

PART-C
VI. Answer any three questions, each question carries 6 marks: (3×6=18)
22. Classify the following Accounts into Assets, Liabilities, capital,
Expenses/Losses and revenue/gains:
a) Cash A/c b) Computer A/c
c) Capital A/c d) Salary A/c
e) Bank loan A/c f) Sales A/c
g) Machinery A/c h) Purchases A/c
i) Rent A/c j) Creditors A/c
k) Discount received A/c l) Drawings A/c

23. Prepare petty cash book from the following particulars with imprest system and
balance the same:
Date Particulars ₹
2024
Sept 01 Main cashier issued a cheque to petty cashier 400
02 Courier charges 30
06 Xerox charges 25
14 Bought post cards and inland letters 50
20 Coffee expenses 15
30 Paid cartage 25

24. Enter the following transactions in sales book.
2024
June 01 Sold goods to Asha traders for ₹10,000 at 10% trade discount.
June 03 Sold goods to Ramya traders of ₹7,000 on credit.
June 11 Sold goods to Shankar and co. ₹ 8,000 on credit.
June 20 Sold old Motor car to Hema on credit for ₹25,000.
June 25 Sold goods to Ravi for ₹5,000 at 5% trade discount.

25. Rectify the following errors:
a) Furniture purchased for ₹8,000 wrongly debited to Purchases account.
b) Credit sales to Krupa ₹5,000 were not posted.
c) Repairs on Machinery ₹2,100 debited to Machinery Account.

d) ₹850 paid for wages has been credited to wages account as ₹580.
e) Cash paid to Bharath ₹2,250 was posted to Sundar’s account.
f) Rent paid to landlord ₹3,000 was debited to landlord account.

26. From the following particulars, prepare a Balance Sheet of Mr. Sunil as on 31-3-2024.
₹ ₹
Capital 50,000 Drawings 10,000
Land & Building 20,000 Machinery 20,000
Furniture 10,000 Sundry creditors 10,000
Cash in hand 10,000 Closing stock 11,000
Bank loan 16,000 Net Profit 5,000

PART-D
VII. Answer any three questions. Each question carries 12 marks: (3×12=36)
27. Journalise the following transactions:
2024 ₹
Aug. 01 Hema started business with cash 1,00,000
furniture 25,000
Aug. 02 Opened a bank account with SBI 30,000
Aug. 06 Purchased goods from Asha 20,000
Aug. 08 Sold goods to Rahul for cash 15,000
Aug. 13 Bought goods from M/s Mohith for cash 40,000
Aug. 16 Sold goods to Suman 20,000
Aug. 20 Received cheque from Suman 19,500
Discount allowed 500
Aug. 23 Cheque given to Asha on account 10,000
Aug. 26 Rent paid by cheque 2,000
Aug. 31 Paid salary 4,500

28. Record the following transactions in double column cash book and balance it:
Date Particulars ₹
2024
April 01 Cash balance 40,000
Bank balance 2,30,000
April 04 Insurance premium paid by cheque 6,000
April 08 Issued a cheque for goods purchased 28,000
April 11 Sold goods and received cheque from Kunal 20,000
April 16 Sold goods to Manu and get the amount transferred
to our bank account 36,000
April 20 Cash withdrawn from bank for office use 14,000
April 24 Bought goods from Anand on credit 65,000
April 25 Sold goods to Kumar and received cash 58,000
April 27 Kumar’s cheque deposited in to the bank
April 30 Paid to Anand by cheque in full settlement of his account 64,000

29. Enter the following transactions in purchases book, purchases return book, sales book
and sales return book.
2024
July 01 Purchased goods from Prem for ₹20,000 less 5% trade discount.
July 03 Purchased goods from Sunil for ₹15,000 for cash.
July 05 Sold goods to Suresh for ₹12,000.
July 08 Sold goods to Karan ₹35,000 less discount 10%.
July 10 Purchased goods from Mohan for ₹15,000
July 13 Sold goods to Sundar for ₹30,000.
July 17 Goods returned by Sundar worth ₹5,000.
July 20 Goods returned to Prem ₹5,000 including trade discount.
July 22 Sold old newspapers to Manju ₹200.

July 25 Purchased goods from Naveen for ₹20,000.
July 28 Returned goods worth ₹3,000 to Mohan.
July 30 Bought goods from Ajay ₹6,500.
July 31 Allowances claimed from Ajay for shortage ₹50.
July 31 Sold goods to Vimal ₹2,000.

30. Overdraft shown by the pass book of Mr. Vageesh is ₹20,000. Prepare Bank
Reconciliation Statement as on March 31, 2024.
a. Bank charges debited as per pass book ₹500.
b. Cheques received recorded in the cash book (bank column), but not sent to the
bank for collection ₹2,500.
c. Received a payment by bank directly from a customer ₹4,600.
d. Cheque issued, but not presented for payment ₹6,980.
e. Interest on overdraft debited by the bank ₹100.
f. Cheques deposited into the bank, but not collected ₹3,500.

31. On 01-04-2021, M/s Suresh and Sons, purchased a Machinery costing 45,000 and
spent ₹5,000 for its installation. On 31-03-2023 the machinery was sold for ₹40,000.
On 01-04-2023, the new machinery was bought for ₹85,000.
Depreciation was charged at 10% p.a. under Diminishing Balance Method.
Accounts are closed on 31st March every year.
Prepare - a) Machinery A/c and
b) Depreciation A/c for 3 years.

32. From the following Trail Balance of Sri Chandra Traders Udupi, prepare the financial
statements for the year ending 31/03/2024.
Name of the Accounts Debit Credit
₹ ₹
Capital 2,50,000
Drawings 25,000
Land and Buildings 50,000
Plant and Machinery 30,000
Purchases and Sales 4,00,000 5,00,000
Returns 50,000 40,000
Stock on 01/04/2023 75,000
Furniture 94,000
Salaries 11,500
Insurance 5,000
Debtors and Creditors 76,000 55,000
Bank loan 20,000
Commission 4,000
Wages 12,000
Cash in Hand 40,500
Total 8,69,000 8,69,000

Adjustments:
1. Closing stock was valued at ₹26,000.
2. O/S salaries ₹5,000.
3. Insurance was prepaid to the extent of ₹500.
4. Depreciate plant and machinery at 10%.
5. Make provision for doubtful debts at 5% on debtors.

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