Karnataka I PUC Accounts Model Question Paper 2021-22

Name of the Organisation : Department of Post University Accounts, Karnataka
Exam : I PUC Accounts Exam
Subject : Accounts
Document Type : Model Question Paper
Website : https://pue.karnataka.gov.in

Karnataka I PUC Accounts Model Question Paper

Department of Post University Accounts, Karnataka Accounts Model Question Paper I PUC for the year 2021-22.

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Karnataka I PUC Accounts Model Questions

SECTION –A
Answer any Eight questions, each question carries ONE mark.
1. Business organisations does not involve economic events. (State True or False)
2. Accounting is basically concerned with
a) Forecasting
b) Measurement
c) Management
d) None of the above
3. GST is a destination based tax on ____ of goods and services.
4. State any one system of Accounting.
5. The process of recording transactions in journal is called __________
6. Ledger records transaction in
a) Chronological order
b) Analytical order
c) Both (a) & (b)
d) None
7. Give an example for error of principle.
8. Name any one party to a bill of exchange.
9. Decreasing in the value of fixed assets is called .
10. The opening capital is ascertained by preparing:
a] Cash book
b] Creditors A/c
c] Debtors A/c
d] Opening Statement of Affairs
11. Expand PIN.
12. State any one accounting packages.

SECTION –B
Answer any FIVE questions, each question carries TWO marks.
13. Name any two users of Accounting.
14. Mention any two Accounting concepts.
15. State the rules of debit and credit of liabilities
16. State any two reasons for the difference between cash book balance and pass book balance.
17. Name any two methods of preparing the trial balance.
18. State any two types of Reserves.
19. Mention any two differences between capital receipts and revenue receipts.
20. Write any two limitations of computer system.

SECTION –C
Answer any FOUR questions, each question carries SIX marks.
21. Transactions of Mohan Traders are given below. Show the effects of these transactions on assets, liabilities and capital with the help of Accounting equation.
a. Business started with cash ₹1,00,000
b. Cash purchase ₹50,000
c. Cash sale of ₹60,000

22. Prepare petty cash book from the following particulars under Imprest system. Date Particulars ₹ 2021
July 01
03
06
07
09
Received cash from main cashier
Purchased stationery
Paid for charity
Paid newspaper bill
Paid coolie
1200
200
100
200
120

23. Enter the following transactions in sales book.2021
June 01 Sold goods to Aparna traders for ₹10,000 at 10% trade discount.
June 03 Sold goods to Rashmi traders of ₹7,000 on credit.
June 11 Sold goods to Gagan and Co. ₹8,000 on credit.
June 20 Sold old Motor car to Harsha on credit for ₹25,000.
June 25 Sold goods to Manu for ₹5,000 at 5% trade discount.

24. From the following particulars given below Prepare a Trial Balance as on 31-03-2021
Sl.NO Particulars Balance ₹
1 Purchases 95,000
2 Sales 1,36,000
3 Bank loan 20,000
4 Machinery 50,000
5 Cash 46,000
6 Capital 1,00,000
7 Debtors 80,000
8 Creditors 17,000
9 Bills receivable 4,000
10 Bills payable 2,000

25. From the following particulars, prepare a Profit and Loss A/c for the year ending 31st March 2021. ₹
Gross Profit 1,20,000
Salaries 20,000
Rents & Taxes 8,000
Printing & Stationery 600
Office lighting 1,000
General expenses 600

26. From the following information, prepare a Balance Sheet as on 31-3-2021. ₹ ₹
Capital 70,000 Drawings 10,000
Land & Building 30,000 Machinery 20,000
Furniture 20,000 Bills receivable 5,000
Cash in hand 10,000 Net Profit 5,000
Sundry creditors 10,000 Bank loan 10,000

27. From the following information, find out cash received from Debtors. ₹
Debtors as on 01/04/2020 17,000
Debtors as on 31/03/2021 25,500
Credit sales during the year 95,000
Bills accepted by customers 15,000
Sales returns 2,000
Bills receivable dishonoured 3,000

28. Explain any three advantages and three limitations of computerised accounting system.

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