Karnataka 2nd PUC Model Question Paper 2025 for Accountancy

ACADEMIC YEAR

2025

Karnataka
Board
Model Paper

BLUE PRINT FOR MODEL QUESTION PAPER-1 2024/25
SUBJECT: ACCOUNTANCY (30) CLASS: II PUC
Question type Number of questions Marks
MCQ(5)+FB(5)+MF(5)+VSA(5)= 01 Mark 20 20
SA - 02 Marks 05 10
LA – 06 Marks 05 30
LA- 12 Marks 06 72
Total 36 132
Chapter/ Remember Understand Apply HOTS
Content LA LA LA LA
No. of
domain/ Marks MCQ SA MCQ SA MCQ SA MCQ SA 6 12
Hours 1 2 6 12 1 2 6 12 1 2 6 12 1 2 Marks Marks
Unit/ Mark Marks Mark Marks Mark Marks
Marks Marks Marks Marks Marks Marks Mark Marks
Theme
1 08 10 1 1 1 1
2 13 08 1 1 1
3 15 22 1 1 1 1 1(A/R)
4 14 14 1 1 1
5 14 16 1 1 1 1
6 13 14 1 1 1
7 09 10 1 1 1 1
8 13 14 1 1 1
9 13 14 1 1 1
10 08 10 1 1 1 1

Total
05 02 07 03 01 02 04 03 01 04 01 03
Questions

Total 120 132 05 04 07 06 06 24 04 18 12 04 06 36

INSTRUCTIONS TO Q P SETTER
SECOND YEAR P.U.C
ACCOUNTANCY (30)

Specific Instructions (Part-wise):
Part – A: One Mark Questions:
1. Questions should be straight, simple, understandable, free from grammatical and spelling errors.
2. Generally, questions of remember, understand and apply are best suited to this section.
3. Each and every question should test a definite objective.
4. Typology of questions are as follows:
I. MCQ - 05 questions
II. Fill in the blanks - 05 questions (appropriate answer should be given in the brackets)
III. Match the following- 05 questions (any one from each chapter)
IV. Very short answer -05 questions (True/false-01 question, Expand -01 question, very short answer type-03 questions.

All the questions are compulsory.

Part – B: Two Marks Questions:
1. Questions should be selected from the stipulated chapters only (chapters from 01, 03, 05, 07 and 10).
2. Questions under this section may be in a question form/statement form/small calculations, etc
3. Questions under this section may be as follows: - Definition, meaning, features, merits, demerits, types, examples, situations,
circumstances, steps, differences, methods, small calculations, journal entry, etc. Fair combination and above should be there.
4. Out of 5 questions, only 3 questions are to be answered

Part – C: Six Marks Questions:
1. Problems should be selected from the stipulated chapters only. (Chapter-01, 02/03(A/R), 03(D), 07 and 10).
2. Items, transactions, entries, etc. should suit the scheme of evaluation.
3. Out of 05 problems, 03 problems are to be answered.
4. Each and every problem should test a definite objective.
5. Problems should be clear, precise and unambiguous language well within the comprehension of the students.
6. Chapter wise 6 marks problems in Book I and Book II Books:

Chapter Topic / Unit
No
Book–I
Ch.– 1 1) Preparation of Profit and Loss Appropriation A/c (5 items only)
(Opening capital should be given in the problem) or
2) Preparation of Profit and Loss Appropriation A/c with guarantee of profit (4 items only) or
3) Calculation of interest on drawings: when fixed amount is withdrawn every month / quarterly (For 1 partner only) or
4) Calculation of interest on drawings: when varying amounts are withdrawn at different intervals using product method.
(Only 4 drawings should be given for 1 partner only)

Ch. 2/3 On Chapter-3 (Admission):
1) Calculation NPSR of all partners when share of acquisition is given or not given. Or
2) Calculation of Sacrificing Ratio of old partners when OPSR and NPSR are given. Or
On Chapter-4 (Retirement):
1) Calculation of NPSR of continuing partners when acquired share is given or
2) Calculation of gaining ratio of continuing partners when acquired share is given or OPSR and NPSR are given

3 1) Preparation of Deceased Partner’s Capital A/c (5 items only) or
(Death) 2) Preparation of Deceased Partner’s Executors A/c (5 items only)
Book–II
Ch.-03 1) Preparation of Balance Sheet of a Company (as per Companies Act, 2013)
(Note: Out of 5 major heads, 3 items should be given directly for major heads and
4 items should be given for remaining 2 major heads.) or
2) Preparation of Statement of Profit and Loss of a Company (as per Companies Act,
2013) (Note: Income and tax should be given directly and 4 items of expenses which needs Notes to Accounts should be given)

Ch.– 6 1) Preparation of Cash Flow Statement from Operating Activities by using indirect method or
2) Ascertainment of Cash Flows from Investing Activities (4 to 5 items only) or
3) Ascertainment of Cash Flows from Financing Activities (4 to 5 items only).

Section – D: Twelve Marks Questions:
1. Problems should be selected from the stipulated chapters only. (see chapter wise distribution of marks).
2. Items, transactions, entries, etc., should suit to the scheme of evaluation.
3. Each and every question should test a definite objective.
4. Generally, apply and analyse (HOTS) based questions are best suited to this section.

5. Out of 06 problems, 03 problems are to be answered.
6. Chapter wise 12 marks problems in Book I and Book II:

Chapter Topic / Unit
No
Book-1
Ch. On chapter – 3 Admission:
2/3 1) Preparation of Revaluation A/c, Partners’ Capital Accounts and Balance Sheet after Admission under any one of four goodwill
methods (as per AS26), without capital adjustments. Or
2) Preparation of Revaluation A/c, Partners’ Capital Accounts and Balance Sheet after Admission under any one of four goodwill
methods, (as per AS26) with capital adjustments of old partners by cash only as per NPSR. or
Note: Problem should not be asked on Goodwill already appears in the books (i.e. Old Balance Sheet) or
On chapter – 4 Retirement:
1) Preparation of Revaluation A/c, Partners’ Capital Accounts and Balance Sheet after Retirement when goodwill does not
appear in the old Balance Sheet, without capital adjustments. (Goodwill treatment as per AS26) or
2) Preparation of Revaluation A/c, Partners’ Capital Accounts and Balance Sheet after Retirement with adjustment of Continuing
partners’ Capitals through cash only as per NPSR. NPSR should be given in the problem. (Goodwill treatment as per AS26)
Note:
a) Problem should not be asked on Goodwill already appears in the books. (i.e., In Old Balance Sheet).
b) If 12 marks problem is asked on admission, then 6 marks should be asked on retirement and vice versa)
Ch.– 4 1) Preparation of Realisation A/c, Partners’ Capital A/cs. and Cash / Bank A/c,
when realisation expenses is paid by the firm. or
2) Preparation of Realisation A/c, Partners’ Capital A/cs. and Cash / Bank A/c,
when realisation expenses is paid by the partner who gets remuneration for it.
Book-II
Ch. – 1 1) Journal Entries relating to issue of shares at par, forfeiture and re-issue (9 entries only). Or
2) Journal Entries relating to issue of shares at premium, forfeiture and re-issue (9 entries only). Or
Note:
a) Problem may also be asked on over subscription under the above two methods of issue.
b) Problems should not be asked on issue of shares at Discount.
Ch. – 2 1) Journal Entries relating to terms and conditions of issue and redemption of debentures under any four situations. Or
2) Journal Entries relating to the issue of debentures and debenture Interest. Or
3) Journal Entries relating to redemption of debentures under any five situations
when the redemption is made by payment in lump- sum.

Ch. – 4 1) Preparation of Comparative Balance Sheet (8 items only) Or
2) Preparation of Comparative Statement of Profit and Loss (8 items only). Or
3) Preparation of Common Size Balance Sheet (8 items only). Or
4) Preparation of Common Size Statement of Profit and Loss (8 items only).
Ch. – 5 Calculation of six ratios (Question can be asked from combination of four ratios.)

This should be strictly followed while setting the question paper

Government of Karnataka
KARNATAKA SCHOOL EXAMINATION AND ASSESSMENT BOARD
MODEL QUESTION PAPER-1 2024-25
SECOND 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. A and B share profits and losses in the ratio of 3:1. C is admitted into partnership for 1/4
share. The sacrificing ratio of A and B is:
a) 1:1
b) 3: 1
c) 2: 1
d) 3: 2

2. On dissolution of a firm, for closing the bank overdraft is transferred to:
a) Cash Account
b) Bank Account
c) Realisation Account
d) Partner’s capital Account.

3. Interest on calls in arrears is charged according to “Table F” at:
a)10%
b)11%
c) 12%
d) 13%

4. The prescribed form of Balance Sheet for Companies has been given in the
Schedule _____
a) VI part I
b) VI part II
c) VI part IV
d) III Schedule.

5. Which of the following is not a cash inflow from investing activities?
a) Cash receipts from disposal of fixed assets.
b) Cash receipts from sale of goods and rendering services.
c) Interest received in cash from loans and advances.
d) Dividend received from investments in other enterprises.

II. Fill in the blanks by choosing the appropriate answers from those given in the
brackets: (5×1=5)
(not transferred, liquid, P/L Appropriation, current, rate of interest, profit and loss
suspense)
6. __________________A/c Dr.
To Partners’ Capital /Current A/cs.
(Being transferring final profit to partners)
7. ______________ account is debited for the transfer of share of accrued profit of
a deceased partner.
8. Partner’s loan is ________ to the Realisation Account.
9. 1,000 , 10% debentures issued at par, 10% means____________.
10. Quick Ratio is also known as_________________ ratio.

III. Match the following: (5×1=5)
11. A B
a) Capitalisation Method i) Common Size Statement
b) Limited Company ii) Comparative statement
c) Debentureholders iii) Financing activities
d) Vertical analysis iv) Valuation of Goodwill
e) Issue of Shares v) No voting rights
vi) Where there is limit on the liability

VI. Answer the following questions in one word or one sentence each: (5×1=5)
12. Find out interest at 8% p.a. on capital of ₹50,000 for 9 months.
13. Sec. 37 of the Indian Partnership Act, 1932 states that the outgoing partner has an
option to receive either interest @ 6% p.a. till the date of payment or such share of
profits which has been earned with his money. (State True or False).
14 Give an example for non-current asset.
15. Give the meaning of interpretation in financial analysis.
16. Expand ROI.
PART-B
Answer any three questions. Each question carries 2 marks: (3×2=6)
17. Name any two methods for calculation of Interest on drawings.
18. Mention any two circumstances for retirement of a partner.
19. Give the meaning of calls in arrears.
20. Write any two objectives of financial statements.
21. What is cash flow statement?
PART-C
Answer any three questions, each question carries 6 marks: (3×6=18)
22. Vidya and Lakshmi were partners in a firm sharing profits and losses in the ratio
of 3:2. They admit Sunitha for 1/6th share in profits and guaranteed that her
share of profits will not be less than ₹25,000. Total profits of the firm were
₹90,000. Calculate share of profits for each partner when: Guarantee is given by
Vidya and Lakshmi equally.
Prepare Profit and Loss Appropriation account.

23. Bhavana and Kavana are partners sharing profits in the ratio of 3:2. They admit
Sahana as a new partner for 1/5th share in the future profits of the firm, which
she gets equally from Bhavana and Kavana. Calculate new profit sharing ratio
of Bhavana , Kavana and Sahana.

24. Ramesh, Prakash and Suresh were partners in a firm sharing profits and losses
in the ratio of 5:3:2. On 31st March 2024, their Balance Sheet was as under:
Balance Sheet as on 31.3.2024

Liabilities ₹ Assets ₹
Creditors 14,000 Cash 8,000
Reserve Fund 6,000 Debtors 11,000
Capitals: Patents 11,000
Ramesh 30,000 Stock 10,000
Prakash 25,000 Machinery 50,000
Suresh 15,000 70,000
90,000 90,000

Ramesh died on 30th Sept 2024. It was agreed between his executors and the
surviving partners that:
a) Goodwill of the firm to be valued at two and half years purchase of the average profits
of the previous four years, which were:
2020-21 Rs.12, 000, 2021-22 ₹20,000, 2022-23 ₹13, 000, and 2023-24 ₹15, 000,
(as per AS-26)
b) Share in the profit from the date of last Balance Sheet till to the date of death to be
calculated on the basis of last year’s profit.
c) Interest on capital to be allowed at 12% p.a.
Prepare Ramesh’s Capital Account.

25. From the following details you are required to prepare Statement of Profit and Loss for the
year ended 31-03-2024 as per Schedule III of Companies Act, 2013.

Particulars ₹
Plant and Machinery 40,000
Furniture 20,000
Share Capital 4,00,000
Sales 3,00,000
Purchases 1,80,000
Trade Payables 30,000
Depreciation on plant and machinery 4,000
Amortisation of goodwill 6,000
Interest on debentures 30,000
Interest on borrowings 20,000
Tax 18,000

26. Compute cash from operations under indirect method from the following information.
a) Profit for the year 2023-24 is a sum of ₹10,000 after providing for depreciation of
₹2,000.
b) The current assets and liabilities of the business for the years ended March 31, 2023
& 2024 are as follows:
Particulars March 31,2023 March 31,2024
₹ ₹
Trade receivables 14,000 15,000
Provision for Doubtful Debts 1,000 1,200
Trade payables 13,000 15,000
Inventories 5,000 8,000
Other current assets 10,000 12,000
Expenses payable 1,000 1,500
Prepaid expenses 2,000 1,000
Accrued income 3,000 4,000
Income received in advance 2,000 1,000

PART-D
Answer any three questions. Each question carries 12 marks: (3×12=36)
27. Ajay, Vijay, and Sujay were partners sharing profits and losses in the ratio of 2: 2:1
respectively. Their Balance Sheet as on 31.3.2024 was as under.
Balance Sheet as on 31.03.2024

Liabilities Amount Assets Amount
₹ ₹
Creditors 35,500 Cash at Bank 20,000
Bills Payable 20,000 Debtors 40,000
General Reserve 2,500 Less P.B.D. 2,000 38,000
Capitals: Stock 20,000
Ajaya 50,000 Machinery 20,000
Vijay 30,000 Furniture 10,000
Sunjay 20,000 1,00,000 Buildings 50,000
Total 1,58,000 Total 1,58,000

Sujay retired on 1.4.2024 from the business. The following adjustments are to be made:
a) Stock to be increased by 20%.
b) Maintain P.B.D at 10% on debtors.
c) Depreciate machinery and furniture by 10% each.
d) Buildings are revalued at ₹60,000
e) Goodwill of the firm valued at ₹15,000. (as per AS-26)
Prepare:
i) Revaluation Account,
ii) Partners Capital Accounts, and
iii)Balance Sheet as on 01.04.2024.

28. Anitha and Kavitha are partners sharing profits and losses equally. Their Balance
Sheet as on 31. 3. 2014 was as follows:
Balance Sheet as on 31. 3. 2024
Liabilities ₹ Assets ₹
Bills Payable 6,000 Cash at Bank 6,000
Creditors 20,000 Debtors 28,000
Anitha's loan 5,000 Less : P.D.D. 2,000 26,000
Vanitha’s loan 5,000 Stock 40,000
Reserve fund 30,000 Investments 20,000
Capitals: Furniture 14,000
Anitha 50,000 Buildings 60,000
Kavitha 50,000
1,66,000 1,66,000

On the above date the firm was dissolved. The following information is available:
a) The assets realised as follows:
Debtors ₹25,600, Stock ₹39,000, Building ₹66,000
b) Anitha took over 50% of investments at 10% less on its book value and remaining
investments were sold at a gain of 20%.
c) Furniture was taken over by Kavitha at ₹12,000.
d) Anitha paid the realisation expenses ₹2,000 for which she is paid ₹2,600 for
completing the dissolution process.
Prepare:
i) Realisation Account
ii) Partners' Capital Accounts and
iii) Bank Account.

29. ACC Company Ltd., issued 10,000 equity shares of ₹100 each at a premium
of ₹10 per share. The amount was payable as follows:
On application ₹20
On allotment ₹50 (including premium)
On first and final call ₹40

All the shares were subscribed and the money duly received except the first and final
call on 500 shares. The Directors forfeited these shares and re-issued them as fully
paid up at ₹80 per share.
Pass the necessary journal entries in the books of the company.

30. Pass necessary journal entries at the time of Redemption of Debentures in each of the
following cases.

a) A Company Ltd., issued 10,000, 8% debentures of ₹100 each at par and redeemable at
par at the end of five years out of capital.
b) B Company Ltd., issued 4,000, 12% debentures of ₹100 each at par. These debentures
are redeemable at 10% premium at the end of four years.
c) C Company Ltd., issued 10% debentures of the total face value of ₹3,00,000 at a
premium of 5% to be redeemed at par at the end of four years.
d) D Company Ltd., issued ₹2,00,000, 10% debentures at a discount of 5% but
redeemable at a premium of 5% at the end of 5 years.
e) E Company Ltd., issued 1,000, 8% debentures of ₹100 each at a premium of 5% to be
redeemed at par at the end of 4 years.

31. From the following Balance Sheets of Indian Industries Ltd., prepare
Common size Balance Sheet.
Particulars 31-3-2023 31-3-2024
₹ ₹
Share Capital 2,00,000 2,50,000
Reserve 1,00,000 1,50,000
Long term loans 2,00,000 1,00,000
Trade Payable 3,00,000 4,00,000
8,00,000 9,00,000
Building 2,00,000 2,50,000
Plant 2,00,000 2,50,000
Inventory 3,50,000 3,25,000
Cash & Cash Equivalents 50,000 75,000
8,00,000 9,00,000

32. From the following information calculate:
a. Current Ratio,
b. Debt Equity Ratio,
c. Trade Receivables Turnover Ratio,
d. Trade Payables Turnover Ratio,
e. Earnings Per Share,
f. Dividend Pay-out Ratio.

Particulars ₹
Inventory 1,00,000
70,000 Equity Shares of ₹10 each 7,00,000
Cost of Revenue from Operations 5,00,000
Net Purchases 4,00,000
Net Profit Before Tax 3,51,000
13% Debentures 3,00,000
Net Profit after tax but before dividend 1,75,000
Trade Receivables 50,000
Trade Payables 75,000
Dividend declared @ 15% --------

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