{"id":14959,"date":"2019-12-26T13:04:50","date_gmt":"2019-12-26T07:34:50","guid":{"rendered":"https:\/\/kseebsolutions.guru\/?p=14959"},"modified":"2021-07-02T15:35:01","modified_gmt":"2021-07-02T10:05:01","slug":"2nd-puc-accountancy-previous-year-question-paper-march-2019","status":"publish","type":"post","link":"https:\/\/kseebsolutions.guru\/2nd-puc-accountancy-previous-year-question-paper-march-2019\/","title":{"rendered":"2nd PUC Accountancy Previous Year Question Paper March 2019"},"content":{"rendered":"

Students can Download 2nd PUC Accountancy Previous Year Question Paper March 2019, 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 Previous Year Question Paper March 2019<\/h3>\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 = 8)<\/span><\/p>\n

    Question 1.
    \nGovernment grant is treated as __________ receipt.
    \nAnswer:
    \nRevenue receipt.<\/p>\n

    Question 2.
    \nWhen the partners current accounts are prepared in partnership firm?
    \nAnswer:
    \nPartners current account is prepared when the partners maintain their capital under Fixed Capital Method.<\/p>\n

    Question 3.
    \nIf the amount brought by a new partner is more than his share in capital, the excess is known as ___________
    \nAnswer:
    \nHidden Goodwill<\/p>\n

    Question 4.
    \nGive the formula for calculation of new profit sharing ratio on retirement of a partner.
    \nAnswer:
    \nNew profit ratio = Old Ratio + Gain Ratio.<\/p>\n

    Question 5.
    \nWhat is buy-back of shares?
    \nAnswer:
    \nBuy – back of shares :
    \nAlso known as repurchase of shares by the company that issued them or purchase of its own shares from the market.<\/p>\n

    Question 6.
    \nDebentures cannot be redeemed out of:
    \n(a) Profits
    \n(b) Provisions
    \n(c) Capital
    \n(d) All the above
    \nAnswer:
    \n(b) Provisions<\/p>\n

    \"KSEEB<\/p>\n

    Question 7.
    \nFinancial statements generally include:
    \n(a) Comparative statement
    \n(b) Fund flow statement
    \n(c) Income statement and balance sheet
    \n(d) None of the above
    \nAnswer:
    \n(c) Income statement and balance sheet<\/p>\n

    Question 8.
    \nFinancial analysis is used only by the creditors. State True \/ False.
    \nAnswer:
    \nFalse.<\/p>\n

    Question 9.
    \nGive one example for current liability.
    \nAnswer:
    \nCurrent liabilities \u2192 Creditors, Bills payable, Short term provisions, Short term borrowings.<\/p>\n

    Question 10.
    \nExpand ICAI.
    \nAnswer:
    \nThe Institute of chartered Accountants of India.<\/p>\n

    Section – B<\/span><\/p>\n

    II. Answer any Five questions, each question carries Two marks : (5 \u00d7 2 = 10)<\/span><\/p>\n

    Question 11.
    \nState any two features of Receipts and Payments account.
    \nAnswer:
    \nFeatures of receipts and payments account
    \n(a) It is real account
    \n(b)It is prepared on cash system of accounting.<\/p>\n

    Question 12.
    \nName any two contents of partnership deed.
    \nAnswer:
    \ncontents of partnership deed.
    \n(a) Name and addresses of the firm
    \n(b)Name and address of all the partners or any other<\/p>\n

    Question 13.
    \nGoodwill of the firm is valued at two years purchase of the average profit of last four years. The total profits for last four years is ? 40,000.
    \nCalculate the goodwill of the firm.
    \nAnswer:
    \nCalculation of Good will:
    \nGood will = Average profit of last 4 year x Number of years of purchase of Average profits.
    \nAverage profits = \\(\\frac { 40,000 }{ 4 }\\) = Rs. 10000
    \nGood will = Rs. 10,000 \u00d7 2 year purchase = Rs. 20,000<\/p>\n

    Question 14.
    \nGive the Journal entry for the asset taken over by a partner in case of dissolution of partnership firm.
    \nAnswer:
    \nPartner capital account Dr.
    \nTo Realisation A\/c<\/p>\n

    Question 15.
    \nWhat is forfeiture of shares?
    \nAnswer:
    \nForfeiture of shares means cancellation of the rights of the shareholders on the shares held by him for Non payment of allotment money or call money or both, on such shares.<\/p>\n

    Question 16.
    \nGive the meaning of financial statements.
    \nAnswer:
    \nFinancial statements are the basic and formal annual reports through which the company communicates financial information to its owners and other stake holders\/extemal parties.<\/p>\n

    Question 17.
    \nList out any two techniques of financial statement analysis.
    \nAnswer:<\/p>\n

      \n
    1. Comparitive statements<\/li>\n
    2. common size statements<\/li>\n
    3. Trend and ratio analysis<\/li>\n<\/ol>\n

      Question 18.
      \nMention any two activities which are classified as per AS – 3.
      \nAnswer:
      \nThe two activities classified as per AS – 3 are<\/p>\n

        \n
      1. Operating Activities<\/li>\n
      2. Investing activities.<\/li>\n<\/ol>\n

        \"KSEEB<\/p>\n

        Section – C<\/span><\/p>\n

        III. Answer any Four questions, each question carries Six marks : (4 \u00d7 6 = 24)<\/span><\/p>\n

        Question 19.
        \nYashas and Abhi are partners in a firm, sharing profits and losses in the ratio of 2:1. Yashas withdrew the following amounts during the year 2017-18 are given as under:
        \n\u20b9 4,000 on 1.6.2017
        \n\u20b9 10,000 on 30.09.2017
        \n\u20b9 6,000 on 30.11.2017
        \n\u20b9 12,000 on 1.1.2018
        \nInterest on drawings is to be charged at 8% p.a.
        \nCalculate the amount of interest to be charged on Yashas drawings for the year ending 31.3.2018.
        \nAnswer:
        \nCalculation of Yashas interest on Drawing for the year ending 31.3.2018
        \n\"2nd
        \nInterest on Drawings = Total product \\(\\times \\frac{\\text { Rate }}{100} \\times \\frac{1}{12}=1,60,000 \\times \\frac{8}{100} \\times \\frac{1}{2}\\) = Rs. 1067<\/p>\n

        Question 20.
        \nSwarna, Swapna and Vidya are partners in a firm sharing profits and losses in the ratio of 4 : 3 : 2. Vidya retires from the firm. Swarna and Swapna agreed to share equally in future.
        \nCalculate the gain ratio of Swarna and Swapna.
        \nAnswer:
        \nCalculation of Gain Ratio :
        \n\"2nd
        \n\u2234 Gain Ratio =1:3<\/p>\n

        Question 21.
        \nShobha, Sudha and Rathna are partners. Sharing profits and losses in the ratio 2:2:1.
        \nTheir Balance sheet as on 31.03.2018 was as follows:
        \n\"2nd
        \nRathna died on 30.06.2018. Her executor\u2019s should be entitled to :
        \n(a) Her capital on the date of last Balance sheet.
        \n(b) Her share of reserve fund on the date of last Balance sheet.
        \n(c) Her share of profit up to the date of death, on the basis of previous year\u2019s profit. Previous year profit is Rs. 20,000.
        \n(d) Her share of goodwill. Goodwill of the firm is valued at Rs. 40,000.
        \n(e) Interest on capital at 10% p.a
        \nYou are required to ascertain amount payable executors of Rathna by preparing Rathna\u2019s capital account. .
        \nAnswer:
        \n\"2nd<\/p>\n

        Question 22.
        \nGanesh co., ltd., purchased assets of the book value of Rs. 99,000 from another firm. It was agreed that purchase consideration be paid by issuing 11% debenture of Rs. 100 each. Assume debentures have been issued.
        \n(a) At par
        \n(b) At discount of 10% and
        \n(c) At a premium of 10%
        \nRecord necessary Journal entries.
        \nAnswer:
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 23.
        \nFrom the following information, prepare statement of profit and loss for the year ended 31.03.2018 as per schedule – III of the companies Act. 2013.
        \nAnswer:
        \n\"2nd
        \nAnswer:
        \n\"2nd<\/p>\n

        Question 24.
        \nCalculate current ratio and Liquid ratio from the following information :
        \n\"2nd
        \nAnswer:
        \nCalculation of Ratios:
        \n\"2nd
        \nCurrent Liabilities Rs.50,000
        \nNote: Current Assets = Trade receivable + Cash in hand + cash at Bank + Inventories + Advance Tax
        \n= 30000+ 10000+ 10000+ 20000+ 10000 = Rs.80,000<\/p>\n

        \"2nd
        \nNote: Liquid \/ Quick assets = Current assets – Stock – Prepaid expenses
        \n= Rs. 80,000 – 20,000 – 10,000 = Rs. 50,000<\/p>\n

        Question 25.
        \nMangala ltd. arrived at a Net income of Rs. 5,00,000 for the year ended 31.03.2018. Depreciation for the year was Rs. 2,00,000. There was a profit of Rs. 50,000 on assets sold which was transferred to statement of profit and loss. Trade receivable increased during the year Rs. 40,000 and Trade payables also increased by Rs. 60,000.
        \nCompute cash flow from operating activities by the indirect method.
        \nAnswer:
        \n\"2nd<\/p>\n

        Section-D<\/span><\/p>\n

        VI. Answer any four questions, each question carries Twelve marks : (4 \u00d7 12 = 48)<\/span><\/p>\n

        Question 26.
        \nFrom the following Receipts and payments account and Balance sheet of union club, prepare Income and Expenditure account for the year ended 31.03.2018 and the Balance sheet as on that date.
        \n\"2nd
        \nReceipts and payments a\/c for the year ended 31.03.2018
        \n\"2nd
        \nAdjustments:
        \n(a) Subscription outstanding on 31 March, 2018 \u20b9 10,000.
        \n(b) Salary outstanding on 31 March, 2018 \u20b9 1,000.
        \n(c) Depreciate furniture and Books at 10% each (only on opening Balances)
        \n(d) Donation to be capitalised.
        \n(e) Electricity charges paid in Advance \u20b9 650.
        \nAnswer:
        \n\"2nd
        \n\"2nd
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 27.
        \nGiven below is the Balance sheet of Kumar of Kumar and Rajashekar, who are carrying on partnership business as on 31 March, 2018. Kumar and Rajashekar share profits and losses in the ratio of 2 :1.
        \n\"2nd
        \n\"2nd
        \nShamanth is admitted as a partner on the date of the Balance sheet on the following terms.
        \n(a) Shamanth bring in Rs. 1,00,000 as his capital and Rs, 60,000 as his share of goodwill for l\/4th share in profits.
        \n(b) Plant is to be appreciated to Rs. 1,20,000 and the value of Building is to be appreciated by 10%.
        \n(c) Stock is found over valued by Rs. 5,000.
        \n(d) A provision for Doubtful debts is to be created at 5% on Debtors. Prepare Revaluation account, partners capital accounts and Balance sheet of the constituted firm after admission of the new partner.
        \nAnswer:
        \n\"2nd
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 28.
        \nRekah and Chetana sharing profits as 3 :1 and they agree upon dissolution. The balance sheet as on 31 March, 2018 is as under :
        \n\"2nd
        \nAdditional information:
        \n(a) Rekah took over plant and Machinery at an agreed value of \u20b9 12,000.
        \n(b) Stock and furniture were sold for f 8,400 and \u20b9 2,780 respectively.
        \n(c) Debtors were taken over by Chetana at \u20b9 13,000.
        \n(d) Liabilities were paid in full by the firm.
        \n(e) Realisation expenses were \u20b9 320.
        \nPrepare:
        \n(a) Realisation A\/c
        \n(b) Partners\u2019 Capital Accounts and
        \n(c) Bank A\/c
        \nAnswer:
        \n\"2nd
        \n\"2nd
        \n\"2nd
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 29.
        \nVigneshwara Trading Co., Ltd., issued 10,000 ordinary shares of \u20b9 100 each, at a premium of \u20b9 10 per share. The amount payable is as follows:
        \nOn application \u20b9 20
        \nOn Allotment \u20b9 40 (including premium)
        \nOn First and final call \u20b9 50.
        \nAll the shares were subscribed and the money duly received except the first and final call on 500 shares. The directors forfeited there shares and re-issued them as fully paid at ? 80 per share.
        \nPass the necessary Journal entries in the books of the company.
        \nAnswer:
        \n\"2nd
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 30.
        \nGive the Journal entries for issue of Debentures for the following cases in the Books of Reliance co., Ltd. .
        \n(a) Issue of \u20b9 2,00,000,9% Debentures of \u20b9 100 each at par and redeemable at par.
        \n(b) Issue of \u20b9 2,00,000,10% Debentures of \u20b9 100 each at a premium of 5% but redeemable at par.
        \n(c) Issue of \u20b9 2,00,000,12% Debentures of \u20b9 100 each at a discount of 5%, redeemable at par.
        \n(d) Issue of \u20b9 2,00,000, 8% Debentures of \u20b9 100 each at par but redeemable at a premium of 5%.
        \nAnswer:
        \n\"2nd
        \n\"2nd<\/p>\n

        Question 31.
        \nFrom the following information, prepare comparative Balance sheet of Honda company Ltd.,
        \n\"2nd
        \nAnswer:
        \n\"2nd
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 32.
        \nFrom the following particulars calculate:
        \n(a) Inventory turn over ratio.
        \n(b) Trade receivable turn over ratio
        \n(c) Trade payable turn over ratio
        \n(d) Gross profit ratio
        \n(e) Operating ratio
        \n(f) Net profit ratio.
        \n\"2nd
        \nAnswer:
        \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 \u00d7 5 = 10)<\/span><\/p>\n

        Question 33.
        \nWrite two partners capital accounts under fluctuating capital system with 5 imaginary figure.
        \nAnswer:
        \n\"2nd<\/p>\n

        \"KSEEB<\/p>\n

        Question 34.
        \nPrepare Executor\u2019s loan account with imaginary figures showing the repayment in two annual equal installments along with interest.
        \nAnswer:
        \n\"2nd<\/p>\n

        Question 35.
        \nName the major heads under which the following items will be presented in the Balance sheet of a company
        \n(a) Share Capital
        \n(b) Debentures
        \n(c) Trade payables
        \n(d) Furniture
        \n(e) Inventory
        \nAnswer:
        \n\"2nd<\/p>\n","protected":false},"excerpt":{"rendered":"

        Students can Download 2nd PUC Accountancy Previous Year Question Paper March 2019, 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 Previous Year Question Paper March 2019 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\/14959"}],"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=14959"}],"version-history":[{"count":0,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts\/14959\/revisions"}],"wp:attachment":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/media?parent=14959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/categories?post=14959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/tags?post=14959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}