IP.U.C. ANNUAL EXAMINATION FEBRUARY-2018 eo SUBJECT : ACCOUNTANCY (30) Time : 3 Hours 15 Minutes Maximum Marks : 100 Instructions : . All sub-questions of Section-A should be answered continuously at one place. 2. Provide Working Notes wherever necessary. 3. 18 Minutes of Extra Time have been allotted for the candidates to read the questions. 4. Figures in the right hand margin indicate full marks. onan aos 20. SECTION - A Answer any EIGHT questions. Each question carries One mark : 8x1=8 Recording is made in a order. Give an example for voucher. Rent paid to landlord is credited to a) rent ale b) landlord alec) cash alc 4d) none of the above What type of transaction is recorded in the sales book Trial Balance is a) an account b) astatement ©) a subsidiary book d) a principal book Give the meaning of maturity of a bill Prepaid expenses are assets of the business. State true or false. What is statement of affairs 7 Expand MIS The Accounting Software is generally tailored in organisations, SECTION - B ‘Answer any FIVE questions. Each question carries Two marks ; 5x2=10 What is capital ? What is matching concept ? What is posting 7 State any two reasons for the difference between cash book balance and pass book balance. State any two types of Errors. What is depreciation ? State any two distinction between capital expenditure and revenue expenditure, State any two units of CPU. SECTION - C Answer any FOUR questions. Each question carries Six marks: 4x6=24 Prepare the Accounting equation from the following a) Ramesh started business with cash % 500,000 b) Purchased goods from Harish for cash X 200,000 ©) Sold goods to Rajesh costing & 100,000 Enter the following transactions in the petty cash book under the imprest system and balance it. 2017 Jan 1 Received a cheque towards petty cash & 1000 Jan 3 Paid Taxi fare % 250. Jan10 Postage charges paid & 160 Jan 15 Stationery purchased & 140 Jan 22 Registered parcel charges = 170 (P.T.O)2 21. Prepare purchases book from the following transactions of college Book Co. Bengaluru 2017 June 1. Purchased 60 Accountancy text books at 2 150 per book from Sapna Book Co. Hassan. June 2 Purchased 30 Business Studies text books at 60 each and 200 Economics text books at ¥ 90 each from New Book House, Mangaluru. June 8 Bought from Apna Book Co. Mysuru 100 English dictionaries at ¢ 400 each, 22. Mr. Ganesh’s ledger shows the following balances, prepare a trial balance as on 31-03-2017. SINo] Name of Account x 1. [Capital a/e 50000 2. |Machinery ale 40000 3. |Due from Ravi 15000 4, |Due to Manu 40000 5. |Sales alc 60000 6. |Wages a/c 5000 7. | Purchases alc 76000 8. |Cash alc 41000 9. |Debtors 10500 10. |Creditors 37500 23. Compute cost of goods sold for the year 2016-17 with the help of the following information Stock as on 1* April 2016 % — 3,00,000 Stock as on 31* March 2017 % 4,00,000 Purchases during the year % 15,00,000 Sales during the year % 20,00,000 Wages % 1,20,000 24, From the following information, find out closing debtors. z Debtors as on 1-4-2016 20,000 Cash received from debtors 70,000 Credit Sales 1,00,000 Discount allowed 5,000 Returns from customers 3,000 25. Explain any six advantages of Computerised Accounting System, SECTION - D IV Answer any FOUR questions. Each question carries Twelve mark 4 x12= 48 26. Journalise the following transactions 2017 June 1 Started business with cash % 50,000 June 5 Deposited into Bank 2 10,000 June 7 Purchased goods from Jagadish on credit for X 5,000 June 9 Sold goods to Nagaraj for cash = 10000 (PT.O)3 June 11. Paid cash to Jagadish 2 4,000 June 13. Paid for travelling expenses & 500 June 15 Took goods from business for domestic use = 1000 June 17 Outstanding Salary % 800. June 20. Credit Sales made to Raju % 10,000, June 22 Paid for advertisement % 2000. June 25. Paid in as further capital & 12000. June 27 Purchased Office Furniture 3000. 27. Record the following transactions in two column cash book of Sagar and balance it. Bank Balance Cash Balance Cash Sales Cash Purchases Cash deposited into the Bank Telephone bill paid by cheque Withdrawn cash from the Bank for personal use Cash withdrawn from Bank for office use Paid wages Cheque received from Kumar 10,000 25,000 18,000 19,000 2,500 15,000 10,000 1,500 5,000 28. Prepare Bank Reconciliation Statement from the following particulars. a) Overdraft shown as per cash book on Dec. 31, 2016. & 10,000 ») Bank charges debited in the pass book = 100. ) Interest on overdraft debited in the pass book % 380. 4) Cheque issued but not encashed prior to Dec. 31, 2016 amounted to & 2150 ¢) Interest on Investment collected by the bank and credited in the passbook 600. f) Cheques paid into bank, but not cleared before Dec. 31, 2016 were % 1100 9) Direct deposit in to Bank by a customer not recorded in cash book % 830. 29. M/S Golden Co. Ltd., purchased a Machine for 3,60,000, on 1-10-2012 and spent 40,000 for its transportation. On 1-4-2014 the firm purchased another machine for & 2,50,000. On 31-12-2014 it sold the Machine which was purchased on 1-10-2012 for % 2,95,000. Company charges depreciation at the rate of 10% per annum, on straight line method every year. The book of accounts are closed on 31* March every year. Prepare Machine A/c and Depreciation A/c for first three years. 30. Prakruthi sold goods to Kavya on credit for = 5000 on 1-1-2017. On the same day Prakruthi draw a bill of exchange for three months for 5000 on Kavya. On the due date the bill was dishonoured. Pass journal entries in the books of Prakruthi and Kavya 31. From the following Trial Balance prepare Trading and Profit and Loss account for the year ending 31-3-2016 and the Balance Sheet as on that date. SI Name of the Account Debit Credit No. @ (@ 7 Capital = 2. | Drawings 1760 — 3. | Purchases and Sales 8900 15000 4, | Stock on 1-4-2015 1200 - (PTO)5. ] Retums 280 450 6. | Wages 800 = 7. | Buildings 22000 ~ 8. | Freight charges 2000 = 9. | Trade Expenses 200 = 10.| Advertisement 240 — 11. | Interest — 650 12.| Taxes and Insurance 430 = 13.| Debtors and Creditors 6500 1200 14.| Bills Receivables and Bills Payable 1500 700 15.| Cash in hand 1390 - 16.| Salaries 800 = Total 48000 48000 Adjustments = 32. i) Stock on 31-3-2016 was valued at % 10,000 ii) Insurance prepaid to the extent of 2 100 iil) Outstanding Salaries = 200 iv) Depreciate Buildings at 5% p.a. v) Provide for doubtful debts at 5% on debtors. Mr. Aniket kept his books under incomplete records. He provides you the following information. Particulars 01-04-2015 | 31-03-2016 (@) () | Cash 70,000 76,000 Bills Overdraft 20,000 14,000 Bills Receivable 16,000 20,000 Debtors 30,000 40,000 Stock 24,000 28,000 Furniture 20,000 20,000 Machinery 30,000 30,000 Bills payable 6,000 10,000 Buildings 50,000 50,000 Creditors 14,000 16,000 During the year he has withdrawn cash & 13000 and goods worth & 7000, for his personal use. He also introduced x 12000 as an additional capital. Adjustments : 1. Depreciate Machinery by 3000. 2. Salary due but not paid 1000 3. Calculate interest on capital at 8% p.a. on opening capital Prepare : Vv 33 35. i) Statement of affairs. ii) Statement of profit or loss and iii) Revised Statement of affairs. SECTION-E (Practical Oriented Questions) Answer any Two questions. Each question carries Five marks: 2x5=10 Draw a diagram of Accounting process. Prepare a simple cash book with five imaginary figures. Draw a Block Diagram of main components of Computer.1B.U.C. ANNUAL EXAMINATION JANUARY/FEBRUARY-2019 @ SUBJECT : ACCOUNTANCY (30) Time : 3 Hours 15 Minutes Maximum Marks : 100 Instruction: 1 12, 13, 14, 15. 16. 17, 18. All sub-questions of Section-A should be answered continuously at one place. Provide Working Notes wherever necessary. 15 Minutes of Extra Time have been allotted for the candidates to read the questions. Figures in the right hand margin indicate full marks. SECTION - A Answer any EIGHT of the following questions. Each question carries One mari 8x Accounting measures a business transactions in terms of units. ‘Accounting equation is based on; a) Cost concept b) Separate Entity concept c) Dual aspect concept d) Accrual concept The process of transferring journal entry to individual accounts is called Goods purchased on cash are recorded in this a) Purchases book b) Sales Book ¢) Cash Book d) Purchases Retums book Trial Balance is a statement. (State True / False) State any one feature of Bills of Exchange. Give an example for Fixed Assets. Give the meaning of Adjusted Closing Capital Expand "MIs" Write any one type of Accounting Software. SECTION - B Answer any FIVE of the following questions. Each question carries Two marks: 5x2=10 Define Accounting, State any two differences between single entry and double entry system of book-keeping Write the rules of debit and credit of Liabilities account. What is Bank reconciliation statement ? Give any two examples for errors of commission Name any two types of reserves. What is capital Expenditure ? What do you mean by report 7 SECTION - C Answer any FOUR of the following questions. Each question carries Six marks: 4x6=24 Classify the following accounts into Assets. Liabilities, Capital, Revenue/Gains and Expenses/Losses, a) Drawings Alc b) Sales Alc ©) Purchases A/c 4d) Cash Ale ) Salaries Ac f) Buildings A/c g) Machinery Alc h) Creditors Alc i) Purchases Return A/c }) Bills receivable Alc k) O/S wages Alc I) Interest on Investment Alc (P.O)ww. A. a 23. 24. 25. 26. 2 Enter the following transactions in an Analytical Petty Cash book 01-04-2018 Received cash from main cashier X 1,000 06-04-2018 Paid for postage stamps % 240 12-04-2018 Purchased stationery % 220 18-04-2018 Taxi hire charges paid < 140 26-04-2018 Paid for printing = 300 From the following transactions prepare sales book for the month February 2018 in the books of Priyanka Traders. 2018 Feb.05 Sold 4 bags of Wheat flour at = 500 each to Ashoka Hotel. Feb. 12 Sold 2 boxes of spices at t 800 per box to Amar on account Feb.18 Vikas bought from us 5 Kg. Coffee powder at % 700 per Kg, Trade discount at 8% Feb.20 Sold to Hema 5 Kgs. of Sugar at & 35 per Kg. for cash Feb. 28 Sold 4 bags of rice at & 3,000 per bag to Rajesh From the following ledger balances, prepare the Trial Balance as on 31* March 2018 ZSNo.] Particulars Balance () 1. | Purchases Alc ‘95,000 2. | Sales Alc 1,36,000 3. | Bank Loan A/c 20,000 4, | Machinery Alc 50,000 5. | Cash Alc 46,000 6. | Capital A/c 1,00,000 7. | Debtors Alc 80,000 8 | Creditors Alc 17,000 9. | Bills Receivable Alc 4,000 10.| Bills Payable A/c 2,000 Compute cost of goods sold for the year 2017. Particulars ‘Stock on 01-04-2016 3,00,000 Stock on 31-03-2017 4,00,000 Purchases during the year 15,00,000 Sales during the year 20,00,000 Wages 4,20,000 Find out the Credit Sales by preparing Total Debtors Account. SOR Cpariculars | Amount @ ‘Opening balance of Debtors 35,004 Closing balance of Debtors 42,000 Sales returns 2,000 Cash received from Debtors 50,000 Discount to customers 3,000 Briefly explain any Six advantages of computerised Accounting System. SECTION - D Answer any FOUR of the following questions. Each question carries Twelve marks: 4xt2=48 Journalise the following transactions in the books of Shri Nuresh: 2018 April - 01 Started business with cash & 1,00,000 April -03 Cash paid into Bank & 30,000 April -06 Cash purchases & 30,000 April - 10. Sold goods to Mohan & 20,000 April - 13 Goods retumed form Mohan 3,000 (PTO)27. 28, 29, 30. 31. April- 15 Received commission & 2,000 April - 18 Drew from bank for personal use X 3,000 April - 20 Cash received from Mohan in full settlement of his account = 16,500 April - 26 Paid Rent by cheque & 4,000 April - 28 Purchased furniture from Kishor % 10,000 April - 30. Paid for salary X 5,000 Record the following transactions in Two-Column Cash Book of Mr. Sagar, and balance it 2018 May -01 Bank balance % 50,000 May-01 Cash balance & 10,000 May - 02 Paid insurance premium by cheque & 8,000 May-05 Cash Sales X 25,000 May-08 Cash purchases & 18,000 May - 10 Cash deposited into Bank & 19,000 May -12 Telephone bill paid by cheque & 2,500 May - 15 Withdrawn cash from bank for personal use & 5,000 May -18 Cash withdrawn from bank for office use & 10,000 May -20 Received a cheque from Anand & 10,500 and deposited into bank. May -24 Cartage paid in cash = 1,500 May-30 A cheque received from Kumar & 5,000 From the following information, prepare Bank Reconciliation Statement as on December 31, 2017, a) Bank balance as per cash book & 20,000. b) Cheque issued but not presented for payment prior to Dec, 31, 2017 & 4,000. ©) Interest on Investment collected by the bank and credited in the pass book only & 2,000. d) Bank charges debited in the pass book only % 100. e) Cheque paid into bank, but not cleared before December 31, 2017 & 3,000 f) Interest credited in the pass book only < 400 9) Electricity bill paid by the bank as per our standing instructions & 300. On 01-01-2014 a firm purchased Machinery Costing & 80,000. On 01-07-2016, it sold the machinery for 60,000 and on the same date a new machine was purchased for % 20,000. Depreciation was charged annually at 10% p.a. on Straight Line Method Accounts are closed on 31* March every year. Show the Machinery account and Depreciation Account for first Four years. On 01-04-2015 Sadhana drew a bill on Savitha for Z 50,000 payable after 3 months. Savitha accepted the bill and retumed it to Sadhana. On the same date, Sadhana endorsed the bill to Kumar. On the above date, the bill is discounted by Kumar at 12% p.a. on the due date the bill is honoured. Pass the Journal Entries in the books of Sadhana, Savitha and Kumar. From the following Ledger balances and adjustments, prepare Trading and Profit and Loss A/c and a Balance Sheet. Trial Balance as on 31* March 2018 SI Particulars Debit Credit No. RQ) @ T. Capital 2 30,000 2 Drawings 1,760 ~ 3 Purchases and Sales 8,900 15,000 4 Stock (01-04-2017) 1,200 & Returns 280 6. Wages 800 -t Buildings 22,000 - 8. Freight 2,000 - 9. ‘Trade Expenses 200 - 10. Advertisement 240 - 11. Interest - 650 12. Taxes and Insurance 430 - 13. Debtors and creditors 6,500 1,200 14. Bills Receivables and Bills payable 1,500 700 15. Cash at Bank 1,390 = 16. Salaries 800. = Total 48,000 48,000, Adjustments : 32 36. 1) Stock as on 31% March 2018, was & 10,000. 2) Insurance prepaid & 100. 3) OMS salaries X 200 4) Depreciate buildings by 5% p.a 5) Provide PBD at 5% p.a. on debtors. Sonali keeps her books under single entry system. From the following information, prepare statement of Profit and Loss and a Revised Statement of Affairs as on 31* March 2018. Particulars 01-04-2017] 31-03-2018 (2) (2) Cash 3300 20,000 Bills Receivable 10,000 7 Debtors 20,000 30,000 Stock 25,000 28,000 Creditors 15,000 16,000 Bills payable 5,000 6,000 Fumiture 12,000 12,000 Bank overdraft. 6,000 8,000 During the year Sonali withdrew % 500 per month from the business for her private use and also used goods worth 2 1,000 for household purpose. She had brought in 2 5,000 as additional capital during the year. Adjustments : 1) Furniture is to be depreciated by 10% p.a. 2) Provide Interest on Capital at 5% p.a. on opening capital only. 3) PBD is to be created at 5% p.a. on debtors. 4) Commission Receivable % 1,200 SECTION-E (Practical Oriented Questions) Answer any Two of the following questions. Each question carries Five marks: 2x5=10 Write the accounting Equation for each item and find out the 9 figures ‘SINo [Assets (3) [ Capital (2) [Liabilities (2)] 4 1,50,000 | 60,000 2 2.__ | 1,00,000 2 55,000 3. 2 34,000 | 46,000 Prepare a Machinery Account for two years with imaginary figures under written down value method. Prepare a Specimen of Promissory Note.1 P.U.C. ANNUAL EXAMINATION FEBRUARY-2020 eo SUBJECT : ACCOUNTANCY (30) Time : 3 Hours 15 Minutes Maximum Marks : 100 structions 1. All sub-questions of Section-A should be answered continuously at one place. 2. Provide Working Notes wherever necessary. 3. Write the serial number of questions properly as given in the question paper while a Sone = Beene "1 12 13, 14. 16, 16. 17. 18. 19, answering. SECTION - A Answer any EIGHT of the following questions. Each question carries ONE mark: axt The process of accounting starts with Expand 'GAAP". Increase in asset is debited and decrease in asset is credited : State True/False. Double column cash book records a) All transactions b) Only cash transactions ) Only credit transactions d) Cash and Bank transactions Trial Balance is a a) An account b) A subsidiary book ©) A statement 4) A principal book Promissory note is written by (Creditor / Debtor / Endorser) Give an example for outstanding expenses. State the meaning of incomplete records. Write any one type of software. What is Data ? SECTION - B Answer any FIVE of the following questions. Each question carries Two marks: 5x2=10 Define Accounting. State any two Accounting Concept. Give the meaning of Narration. What is Bank Reconciliation Statement ? Name any two types of Errors. Name any two examples of Reserves. Give two examples of Current Assets State any two elements of Computers. SECTION - C Answer any FOUR of the following questions. Each question carries SIX marks: 4x6=24 Classify the following accounts in to Assets, Liabilities, Capital, Expenses/Losses and Revenue/Gains a) Fumiture 9) Capital b) Drawings h) Investment ©) Sales i) Stock Alc 4d) Debtors j) Purchase A/c €) Outstanding Salary k) Creditors 4) Interest received |) Bank Loan A/c (PT.0)20. 24 22. 23. 24. 25. Prepare an Analytical petty cash book from the following transactions. Date Particulars z 2019 Jan. 01 | Received cash from Main Cashier 1,000 05 | Paid cartage on goods 300 10 | Paid postage stamps 100 16 | Stationery purchased 200 20 | Auto fair 100 From the following particulars prepare purchase book. Date Transactions ‘Amount 2019 Feb. 01 | Bought goods from Sachin 12,000 06 | Bought goods from Sahana at trade discount of 10% | 20,000 10 | Purchased goods from Shivu 8,000 15 | Mr. Patil Supplied goods to us 5,000 20 | Bought goods from Murthy 2,000 From the following particulars given below, prepare the Trial Balance as on 31-03-2019, S.No. Particulars Amount (2) 1. | Purchases ‘50,000 2. | Sales 80,000 3. | Bank Loan 10,000 4. | Machinery 60,000 5. | Cash 12,000 6. | Capital 75,000 7. | Debtors 50,000 8. | Creditors 10,000 9. | Bills Receivable 5,000 10.| Bills Payable 2,000 Compute cost of goods sold for the year 2018-19. Particulars _——<«|_——_— Amount (@), Sales 10,00,000 Purchases 7,50,000 Wages 50,000 Stock on 01-04-2018 1,50,000 Stock on 31-03-2019 2,00,000 From the following given information prepare Total Debtors Account. Debtors as on April 01, 2018 % 1,00,000 Debtors as on March 31, 2019 = 1,40,000 Cash received from Debtors % 1,20,000 Discount allowed 2,000 Bills receivable % 60,000 Bad debts = 6,000 Explain any three advantages and any three limitations of computerised Accounting System. (P.O)3 SECTION - D IV Answer any FOUR of the following questions. Each question carries TWELVE marks : 4x12=48 26. Journalise the following transactions in the books of M/s. S.S. Traders 2019 Jan.01 Started business with cash % 90,000 and Furniture % 10,000 Open a Bank A/c with SBI x 20,000 Purchased goods from Ramesh % 30,000 Sold goods to Rahul for Cash % 15,000 -'- 10 Cash purchased % 10,000 12 Sold goods to Mohan & 20,000 15 Received Commission ¢ 1,000 -"- 20 Drew from Bank for personal use % 5,000 -"- 22. Cash received from Mohan % 20,000 25 Paid Rent by cheque X 5,000 -"- 30 _ Paid for salary ¥ 4,000 27. Prepare Double Column Cash book from the following transactions :~ 01-07-2019 Cash in hand % 17,500 and Cash at Bank % 5,000 03-07-2019 Purchased goods for cash % 5,000 05-07-2019 Received cheque from Jayanthi % 12,000 07-07-2019 Sold goods for cash x 8,000 40-07-2019 Jayanthi's cheque deposited in to Bank 15-07-2019 Purchased goods and paid by cheque = 25,000 20-07-2019 Cash Sales = 7,000 22-07-2019 Deposited in to Bank & 15,000 27-07-2019 Received Commission by cheque ¥ 8,000 30-07-2019 Withdraw for personal use from Bank % 6,000 28. From the following information, prepare Bank Reconciliation Statement 01. Bank balance as per pass book % 42,000. (02. Cheque paid in to Bank, but not credited in pass book % 3,800 03. Cheque issued, but not presented for payment x 4,500 04. Interest on Investment collected by Bank and Credited in pass book X 2,500 05. Bank Commission Credited in pass book % 200 06. Direct deposit made by customer to our Bank A/c appeared only in pass book % 6,000. 29. On 01-04-2014 Basava Company Ltd. purchased a plant costing % 85,000 and spent % 15,000 for its installation, On 31-03-2016, the plant was sold for ¥ 75,000. On 01-04-2016 a new plant was purchased for ¥ 50,000. The firm charges depreciation @10% p.a. under straight line method. Accounts are closed on 31* March every year. Prepare : 1. Plant account 2. Depreciation Alc for first 4 years. 30. Sandesh sold goods z 30,000 to Srushti on Jan. 01, 2019 and immediately drew bill on Srushti for three month for the same amount, Srushti accepted the bill and retumed it to Sandesh on March 04, 2019 Srushti retired her acceptance under rebate of 8% p.a. Pass Joumal entries in the books of both the parties. 31. From the following balances and adjustments, prepare Trading, Profit and Loss Account and a Balance Sheet as on 31-03-2019 SI Particulars Debit Credit No. (2) (2) 1 ‘Opening Stock 45,000 = 2. Purchase / Sales 80,000 2,00,000 (PTO)4 3 Wages 34,000 = 4, Salary 11,500 5 Rent 3,000 6 Debtors/Creditors 70,000 7 Building 1,00,000 8 Machinery 80,000 9. Fumiture 25,000 10. | Drawing/Capital 10,000 "1 Bills receivable/payable 7,000 12,| — Retums 4,000 13. | Commission received - 44. | Cash in hand 9,000 Total 478,500 s8 36. 1) Stock as on 31-03-2019 50,000. 2) Salary out standing = 1,000 3) Bad debts written off at 5% on debtors, 4) Depreciation Machinery and furniture at 10% p.a. Mr. Gandhi keeps his books on incomplete records of book keeping. He gives you the following information. Particulars 01-04-2018 | 37-03-2019 (2) (2) Stock in trade 70,000 75,000 Sundry debtors 25,000 30,000 Land & building 1,00,000 1,50,000 Fumiture ‘40,000 40,000 Sundry Creditors 20,000 25,000 Bills payable 5,000 10,000 Cash in hand 7,000 15,000 Cash at Bank 3,000 5,000 During the year he drew < 15,000 for personal purpose and 01-10-2018 introduced additional capital & 20,000 in to business. Adjustments 1) Depreciation at 5% p.a. on furniture. 2) Rent due but not paid % 1500 3) Commission eamed but not received & 1,000 4) Bad and doubtful debts reserve & 2,000. Prej 1) Statement of Affairs 2) Statement of profit and loss. 3) Revised statement of affairs as on 31-03-2019 SECTION-E (Practical Oriented Questions) Answer any TWO of the following questions. Each question carries FIVE marks: B= Draw a diagram of Accounting process. Prepare a Machinery Account for 2 years with imaginary figures under reducing balance method. Draw a Block diagram of Main Components of Computers.