{"id":14817,"date":"2019-12-24T17:58:43","date_gmt":"2019-12-24T12:28:43","guid":{"rendered":"https:\/\/kseebsolutions.guru\/?p=14817"},"modified":"2021-07-02T15:35:04","modified_gmt":"2021-07-02T10:05:04","slug":"2nd-puc-accountancy-model-question-paper-2","status":"publish","type":"post","link":"https:\/\/kseebsolutions.guru\/2nd-puc-accountancy-model-question-paper-2\/","title":{"rendered":"2nd PUC Accountancy Model Question Paper 2 with Answers"},"content":{"rendered":"

Students can Download 2nd PUC Accountancy Model Question Paper 2 with Answers, Karnataka 2nd PUC Accountancy Model Question Papers with Answers<\/a> helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations.<\/p>\n

Karnataka 2nd PUC Accountancy Model Question Paper 2 with Answers<\/h2>\n

Time: 3 Hrs 15 Min
\nMax. Marks: 100<\/p>\n

Instructions: –<\/p>\n

    \n
  1. All sub questions of Section – A should be answered continuously at one place.<\/li>\n
  2. Provide working notes wherever necessary.<\/li>\n
  3. 15 minutes extra time has been allotted for the candidates to read the questions.<\/li>\n
  4. Figures in the right hand margin indicates full marks.<\/li>\n<\/ol>\n

    Section – A<\/span><\/p>\n

    I. Answer any Eight questions, each question carries One mark : ( 8 \u00d7 1 = 08 )<\/span><\/p>\n

    Question 1.
    \nReceipt and payment account is a summary of all capital receipts and payments (state true \/ false)
    \nAnswer:
    \nFalse<\/p>\n

    Question 2.
    \nState any one feature of partnership.
    \nAnswer:
    \nNature of the business\/Profit or loss sharing ratio.<\/p>\n

    Question 3.
    \nAt the time of admission of a new partner, general reserve appearing in the old balance sheet is transferred to:
    \n(a) All partner capital accounts
    \n(b) New partner\u2019s capital A\/c
    \n(c) Old partners capital A\/c
    \n(d) None of the above
    \nAnswer:
    \nOld partners capital A\/c<\/p>\n

    \"KSEEB<\/p>\n

    Question 4.
    \nWhy gain ratio is required on retirement of a partners?
    \nAnswer:
    \nFor the purpose of writing off the goodwill created to the extent of retiring partner\u2019s share.<\/p>\n

    Question 5.
    \n………………. is minimum numbers of members in a public Ltd., company.
    \nAnswer:
    \nSeven<\/p>\n

    Question 6.
    \nDebenture holder are ………………. of the company.
    \nAnswer:
    \nCreditors<\/p>\n

    Question 7.
    \nExpand EBIT.
    \nAnswer:
    \nEarning before interest and tax.<\/p>\n

    Question 8.
    \nThe financial statement of a business enterprise include.
    \n(a) Balance sheet
    \n(b) Statement of profit and loss
    \n(c) Cash flow statement
    \n(d) All of the above
    \nAnswer:
    \nAll of the above<\/p>\n

    Question 9.
    \nName any one type of Turnover Ratio.
    \nAnswer:
    \nInventory turnover ratio<\/p>\n

    Question 10.
    \nGive an example for investing activities.
    \nAnswer:
    \nCash payments to acquire fixed assets.<\/p>\n

    Section – B<\/span><\/p>\n

    II. Answer any Five questions, each question carries Two marks : ( 5 x 2 = 10 )<\/span><\/p>\n

    Question 11.
    \nState any two features of receipts and payments a\/c.
    \nAnswer:
    \nFeatures of receipts and payments account:<\/p>\n

      \n
    1. it is a real account<\/li>\n
    2. It is prepared on cash system of accounting.<\/li>\n<\/ol>\n

      Question 12.
      \nName any two methods for calculation of interest on drawings.<\/p>\n\n\n\n\n\n
      Fixed capital system<\/td>\nFluctuating capital system<\/td>\n<\/tr>\n
      Two separate accounts are maintained for each partner i.e., capital account and current account.<\/td>\nEach partner has one account, i.e., capital account.<\/td>\n<\/tr>\n
      Capital account balance remains unchanged unless there is addition to or withdraw of capital<\/td>\nCapital account balance fluctuates from year to year.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

      Question 13.
      \nWhat is Revaluation A\/c?
      \nAnswer:
      \nRevaluation account is an account prepared in connected with recording of increase or decrease in the value of assets and liabilities and to find out the profit or loss on revaluation.<\/p>\n

      Question 14.
      \nGive the meaning of Realisation Account.
      \nAnswer:
      \nRealisation account is an account prepared at the time of dissolution of a firm to ascertain the profit or loss on the realisation of assets and payment of liabilities.<\/p>\n

      \"KSEEB<\/p>\n

      Question 15.
      \nState any two types of issue of shares.
      \nAnswer:
      \nPreference shares
      \nEquity shares.<\/p>\n

      Question 16.
      \nList any two objective of financial statements.
      \nAnswer:
      \nTwo objectives of financial statements:<\/p>\n

        \n
      1. To present a true and fair view of the financial performance, ie., profit \/ loss of the business<\/li>\n
      2. To provide information about cash flows.<\/li>\n<\/ol>\n

        Question 17.
        \nWhat is Trend Analysis?
        \nAnswer:
        \nIt is a financial statement analysis method that determines the direction upwards or downwards and involves computation of percentage relationship that each statement items bear to the same item in the base year. .
        \nOr
        \nIt is a financial statement analysis technique that shows changes in the amounts of corresponding \u2022 financial statement items over a period of time.<\/p>\n

        Question 18.
        \nWhat is cash flow statement?
        \nAnswer:
        \nA cash flow statement is a statement showing inflows (receipts) and outflows (payments) of cash during a particular period.<\/p>\n

        Section – C<\/span><\/p>\n

        III. Answer any Four questions, each question carries Six marks : ( 4 x 6 = 24 )<\/span><\/p>\n

        Question 19.
        \nAnita and Kavita are partners sharing profits in the ratio 3 : 2 with capital of \u20b9 1,00,000 and \u20b9 60,000 respectively. Interest on capital is agreed at 6% per annum. Kavita is to be allowed an annual salary of \u20b9 5,000. During the year Anita withdrew \u20b9 10,000 and Kavita \u20b9 5,000 for personal use. The interest on the same being \u20b9 1000 and \u20b9 500 respectively. The profit for the year ending March 31, 2018, amounted \u20b9 25,000.
        \nPrepare profit and loss appropriation account.
        \nAnswer:
        \nProfit and loss appropriation a\/c for the year ending 31st March 2018
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 20.
        \nPrakash and Akash are partners sharing profits and losses in the ratio of 3 : 2. They admitted Ramesh into the partnership giving him 1\/5th share which he acquire from Prakash and Akash in 2:1 ratio.
        \nCalculate New Profit Sharing Ratio.
        \nAnswer:
        \nShare sacrificed = Sacrifice Ratio x New Partner\u2019s share
        \n\"2nd
        \nNew share = Old share – Share sacrificed
        \n\"2nd
        \nRamesh = \\(\\frac{1}{5}\\) i.e., \\(\\frac{3}{15}\\) [NPSR =7 : 5 : 3]<\/p>\n

        Question 21.
        \nAkash, Anil and Adarsh are partners sharing profits and losses in the ratio of 3 : 2 : 1. Their capitals as on 01.04.2017 were \u20b9 70,000, \u20b9 90,000 and \u20b9 60,000 respectively. Akash died on 31.12.2017 and the partnership deed provided the following:
        \na. Interest on capital at 8% p.a.
        \nb. Akash\u2019s salary \u20b9 2,000 per month.
        \nc. His share of accrued profit upto the date of death based on previous years profit. Firm\u2019s
        \nprofit for 2016-17 \u20b9 24,000.
        \nd. His share of goodwill \u20b9 12,000.
        \nAscertain the amount payable to Akash\u2019s excecutor by preparing Akash1\u2019s Capital A\/c
        \n\"2nd<\/p>\n

        Question 22.
        \nA company Ltd issued 20,000,12% debentures of \u20b9 100 each at a premium of \u20b9 10 per debenture payable as follows:
        \nOn application \u20b9 30
        \nOn allotment \u20b9 60 (Including premium)
        \nOn first and final call \u20b9 20.
        \nAll the debentures were subscribed and the money duly received.
        \nPass the journal enters upto the stage of first and final call money due.
        \nAnswer:
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 23.
        \nFrom the following information extracted from the books of Karnataka Ltd. Prepare Balance Sheet of the company as at 31.03.2017 as per schedule. III of the companies act of 2013.
        \nTab;le
        \nAnswer:
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 24.
        \nCurrent Ratio is 3 : 2 and working capital is \u20b9 1,00,000. Calculate the amount of current assets
        \nand current liabilities.
        \nAnswer:
        \n\"2nd
        \nGiven \u2192p Current Ratio =3 : 2
        \nWorking Caphal = Current assets – Current Liabilities
        \n1,00,000 = 3 – 2, 1,00,000=1
        \n\u2234 Current Assets = 1,00,000 x \\(\\frac{3}{1}\\) = 3,00,000
        \n\u2234 Current Assets = 1,00,000 x \\(\\frac{3}{1}\\) = 3,00,000<\/p>\n

        Question 25.
        \nFrom the following information calculate cash flows from financing activities
        \n\"2nd
        \nDuring the year secured loan repaid \u20b9 4,00,000 with interest of \u20b9 20,000 and received dividend of \u20b9 50,000
        \nAnswer:
        \nCash Flows from financial activities
        \n\"2nd
        \n[Note : As per AS – 3 (Revised] Cash inflow arising from interest and dividend received should be shown as cash flow from investing activities]<\/p>\n

        \"KSEEB<\/p>\n

        Section – D<\/span><\/p>\n

        VI. Answer any Four questions, each question carries Twelve marks : ( 4 x 12 = 48 )<\/span><\/p>\n

        Question 26.
        \nFollowing are the Balance Sheet and Receipts and Payments Account of Sharada Education Society:
        \n\"2nd
        \nAdjustments:
        \n1. Audit fees \u20b9 2500 still due.
        \n2. Charge \u20b9 250 as deprecation on furniture
        \n3. Half of the donation is to be considered as revenue
        \n4. Outstanding Subscriptions \u20b9 2000 and Subscriptions received in advance \u20b9 1500 Prepare
        \n(a) Income and Expenditure account.
        \n(b) Balance Sheet as on 31-3-2018.
        \nAnswer:
        \n\"2nd
        \n\"2nd<\/p>\n

        Working Notes:
        \nCalculation of O\/s Interest on Govt. Bonds
        \n\"2nd<\/p>\n

        Question 27.
        \nDigvijay, Brijesh and Parakram were partners in a firm sharing profits in the ratio of 2:2 :1. Their balance sheet as on March 31,2018 was as follows.
        \nAnswer:
        \n\"2nd
        \nBrijesh retired on March 31.2018 on the following terms.
        \n1. Goodwill of the firms was valued at \u20b9 60,000 and goodwill account to be raised to the extent of retiring partner\u2019s share and Written off immediately.
        \n2. Bad debts amounting to \u20b9 2,000 were to be written off.
        \n3. Patents were considered as valueless.
        \nPrepare:
        \n(i) Revaluation Account
        \n(ii) Partners Capital AccoOnts and
        \n(iii) Balance Sheet of Digvijay and Parakram after Brjesh retirement.
        \nAnswer:
        \n\"2nd<\/p>\n

        Question 28.
        \nAnita and Sunita are partners sharing Profits and Losses equally. Their balance sheet as on 3 1.03.2018 was as follows:
        \n\"2nd
        \nOn the above date the firm was dissolved The folloiing information is available:
        \na. Assets realised as follows : Debtors \u20b9 25,600, Stock \u20b9 39,000 Building \u20b9 66,000
        \nb. Anita took over 50% of Investments at 10% less on its book value and remaining
        \nInvestments was sold at a gain of 20%.
        \nc. Furniture was taken over by Sunita at \u20b9 12,000
        \nd. Realization expenses amounted to \u20b9 2,000
        \nPrepare:
        \n(a) Realization A\/c
        \n(b) Partners\u2019 Capital Accounts
        \n(c) Cash A\/c
        \nAnswer:
        \n\"2nd
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 29.
        \nABC Company Ltd., Issued 20,000 equity shares of \u20b9 10 each The amount was payable as follows:
        \nOn application \u20b9 2
        \nOn allotment \u20b9 3
        \nOn first and find call \u20b9 5.
        \nAll the shares were subscribed Akash holding 500 shares did not pay first and final call money.
        \nThe directors forfeited his shares and these shares were re-issued to Sagar at \u20b9 7 per share as fully paid up.
        \nGive the necessary journal entries in the book of the company.
        \nAnswer:
        \nJournal Entries in the books of ABC company Ltd.
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 30.
        \nX Ltd issued 2,000 , 10% debentures of \u20b9 100 each on 1.4.2017 at a discount or lUYo and
        \nredeemable at premium of 10%.
        \nGive journal entries relating to the issue of debentures and debenture interest fo the period
        \nending March 31,2018 assuring that interest was paid half yearly on September30 and March
        \n31 and tax deducted at source is 10%.
        \nAnswer:
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 31.
        \nPrepare Common size Balance sheet of Bombay Textile Ltd From the following information:
        \n\"2nd
        \nAnswer:
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 32
        \nFrom the following Particulars calculate:
        \na. Net – asset turnover ratio
        \nb. Fixed asset turnover ratio
        \nc. Working capital turnover ratio
        \nd. Operating profit ratio
        \ne. Return on capital employed ratio
        \nf. Earning per share ratio.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
        Particular<\/td>\n\u20b9<\/td>\n<\/tr>\n
        Revenue from operations<\/td>\n15,00,000<\/td>\n<\/tr>\n
        Net fixed assets<\/td>\n50,00,000<\/td>\n<\/tr>\n
        Working capital<\/td>\n10,00,000<\/td>\n<\/tr>\n
        Operating Profit<\/td>\n5,00,000<\/td>\n<\/tr>\n
        Profit after interest & tax<\/td>\n3,00,000<\/td>\n<\/tr>\n
        Interest and tax expenses<\/td>\n2,00,000<\/td>\n<\/tr>\n
        Dividend paid t preference shares<\/td>\n1,00,000<\/td>\n<\/tr>\n
        Capital employed<\/td>\n40,00,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

        Answer:
        \n\"2nd
        \n\"2nd<\/p>\n

        Section – E<\/span>
        \n(Practical Oriented Questions)<\/span><\/p>\n

        V. Answer any Two questions, each question carries Five marks: ( 2 X 5 10 )<\/span><\/p>\n

        Question 33.
        \nClassify the following items into capital and Revenue
        \na. X-Ray plant purchased by a hospital.
        \nb. Interest received.
        \ne. Sale of old sports materials.
        \nd. Carriage paid on goods purchased.
        \ne. Donation received for constructing a swimming Pool.
        \nAnswer:
        \na. Capital
        \nb. Revenue
        \nc. Capital
        \nd. Revenue
        \ne. Capital<\/p>\n

        \"KSEEB<\/p>\n

        Question 34.
        \nPrepare Executors loan Account with imaginary figures showing the repayment in two annual equal installments along with interest.
        \nAnswer:
        \n\"2nd<\/p>\n

        Question 35.
        \n\u2018Write the Proforma of cash flows from operating activities under Direct method.
        \nAnswer:
        \nCash flows from operating Activities (Direct method)
        \n\"2nd<\/p>\n","protected":false},"excerpt":{"rendered":"

        Students can Download 2nd PUC Accountancy Model Question Paper 2 with Answers, Karnataka 2nd PUC Accountancy Model Question Papers with Answers helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations. Karnataka 2nd PUC Accountancy Model Question Paper 2 with Answers Time: 3 Hrs 15 Min Max. Marks: …<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts\/14817"}],"collection":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/comments?post=14817"}],"version-history":[{"count":0,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts\/14817\/revisions"}],"wp:attachment":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/media?parent=14817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/categories?post=14817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/tags?post=14817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}