Karnataka II PUC Accountancy Model Question Paper 2021-22

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

Karnataka II PUC Accountancy Model Question Paper

Department of Post University Education, Karnataka Accountancy Model Question Paper II PUC for the year 2021-22.

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Karnataka II PUC Accountancy Questions

SECTION –A
Answer any Eight questions, each question carries ONE mark
1. Not-For-Profit Organisations are used for the welfare of the __________.
2. Partnership deed contains;
a) Name of firm
b) Name and address of the partners
c) Profit and loss sharing ratio
d) All of the above
3.State any one right acquired by a newly admitted partner.
4. Goodwill is an intangible asset. (State True or False)
5. Give the formula for calculating Gain Ratio.
6. Accrued profit is ascertained on the following ways__________
a) Average profit
b) Previous year’s profit
c) On sales
d) All of the above.
7.A company is an ____________ Person.
8. Expand D R R.
9. Income statement is prepared to ascertain____________.
10. Common Size Statements are also known as:
a) Dynamic Analysis
b) Vertical Analysis
c) Horizontal Analysis
d) External Analysis
11. Mention any one type of solvency ratio.
12. Give an example for investing activities.

SECTION –B
Answer any FIVE questions, each question carries TWO marks.
13. State any two features of Receipt and Payment Account.
14. Name any two methods for calculation of Interest on drawings.
15. What is Sacrifice ratio?
16. Give the journal entry for the transfer of profit on realisation.
17. Mention any two methods of issue of shares.
18. State any two limitations of financial statements.
19. List any two techniques of Financial Statement Analysis.
20. Write any two uses of cash flow statement.

SECTION –C
Answer any FOUR questions, each question carries SIX marks.
21. X & Y are Partners commenced Partnership business on 01/04/2020 sharing profits & losses in 3:2 ratio with capitals of ₹1,00,000 and ₹80,000 respectively. They earned profits of ₹15,000 for the year before allowing:
a) Interest on Capitals @ 10% p.a.
b) Interest on drawings: X ₹1,000 & Y ₹800
c) Commission payable to X ₹2000
d) Salary payable to Y ₹3000
Prepare Profit and loss Appropriation A/c for the year ending 31/03/2021
22. Rahul and Rohith are partners in firm. Rahul’s drawings for the year 2020-21 are given as under:
₹4,000 on 01.06.2020
₹6,000 on 30.09.2020
₹2,000 on 30.11.2020
₹3,000 on 01.01.2021
Calculate interest on Rahul’s drawings at 8% p.a. for the year ending on 31/03/2021, under product method. 23. Arun, Varun and Tarunare partners in a firm sharing profits and losses in the ratio of 4:3:2. Tarun retires from the firm. Arun and Varun agreed to share equally in future. Calculate gain ratio of Arun and Varun.
24. Akash, Anil and Adarsh are partners sharing profits and losses in the ratio of 3:2:1, Their capitals as on 01/04/2020 were ₹70,000, ₹90,000 and ₹60,000 respectively. Akash died on 31/12/2020 and the Partnership Deed provided the following:
a) Interest on Akash’s Capital at 8% p.a.
b) Akash’s salary ₹2,000 p.m.
c) His share of accrued profit up to the date of death based on previous year’s profit.
Firms profit for the year 2019-20was₹24,000 d) His share of Goodwill ₹12,000 (as per AS26) Ascertain the amount payable to Akash’s Executor by preparing Akash’s Capital A/c
25. Ganesh Co. Ltd., issued 10,000 6% debentures of ₹100 each at a premium of 10% payable: ₹20 on application, ₹40 on allotment (including premium), ₹50 on first and final call. All the debentures were subscribed and the money duly received. Pass the journal entries up to the stage of first and final call money due.

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